Monday, October 17, 2011

Good News?

I've got some good news and some bad news for you.

The good news is the economy along the Texas-Mexico Border is muy bien.

The bad news is its due to the illegal narcotic industry.

Drug trafficking helping economy along border
By Dan Freedman - Hearst Newspapers

By all appearances, Marin “Gordo” Herrera was a prospering South Texas real estate developer immune from the economic downturn and rising foreclosure rates buffeting the nation.

His companies, New Millennium Developers and Herrera Property & Investments, had acquired 77 properties in the McAllen area. He had booked at least $4 million in revenue.

But in reality, his success stemmed from the underground economy of drug trafficking that has flourished along the border but doesn’t figure in official reports on the gross domestic product or employment rates. He had bought the properties with drug money and used his companies as a shell to launder the $4 million.