Even in the best of jobs in Mexico, e.g., companies making Ford Escorts, the comparison is incredible. Unlike the rich world, which has a safety net of unemployment insurance and social welfare, the poor of the poor world have no social agencies to help them. They are reduced to beggary. Social programs and subsidies for basic foods are eliminated as government budgets are used up to pay interest on debts. The worst comes from the austerity programs imposed upon them by their governments so that the interest, if not the debt itself, can be paid.
Austerity is compulsory, discriminatory, permanent and causes the death of thousands of children.
Interest feeds Inflation and Poverty Inflation feeds the vicious cycle that keeps the poor from ever rising out of their miserable situation. Prices have increased, but wages have not kept up with inflation, so that the working poor have less and less to purchase their necessities. In the cycle there is an increase in prices when producers of goods and services have to pay higher interest rates on their loans. In addition, they have to pay higher taxes to the governments that must raise more funds to pay the interest on their debts. Both of these increases in cost are passed down, in the cycle, to the consumers and eventually to the poor.