(Jamie) And we’re back! Let’s see what Kyle and Duane Toews are up to on Plain Talk!
(Kyle Bauer) Hi, this is Kyle Bauer with Plain Talk with Duane Toews. (Duane Toews) Kyle Bauer, your Fact or Fiction Question of the Day. The mascot of the Texas A&M Aggies is Reveille, the dog. Fact or Fiction? (Kyle) Oh my God, this going to be bad. I missed this. (Duane) Reveille the dog. (Kyle) Reveille sounds about right. I don’t remember a dog, though. I’ll go with Fiction. (Duane) It is Fact. (Kyle) Shoot. (Duane) Reveille the dog, the Texas A&M mascot, it was actually the very first one was a stray, the Corps of Cadets picked up alongside the road [laughs]. (Kyle) Well, I imagine that’s how we got the wildcat. (Duane) Somebody just picked one up alongside the road, yes. (Kyle) When I went to Kansas State University, he was carried into ballgames in a box or in a cage in a– (Duane) Really? (Kyle) Yes. (Duane) Was there a real bobcat? (Kyle) There was a real bobcat. (Duane) A bobcat. (Kyle) Yes. (Duane) Not a wildcat. Is a wildcat a bobcat? (Kyle) It was at Kansas State University and most of the pictures I see they certainly aren’t cougars. (Duane) Close enough counts. (Kyle) Let’s talk remittance. (Duane) Remittance? (Kyle) Remittance. (Duane) Like the taxes, I remit to the government every year? (Kyle) Exactly, no. Let’s talk global migrant remittance. (Duane) Global- (Kyle) – Migrant remittance. (Duane) GMR. (Kyle) GMR. [Laughs] Yes. Okay. (Duane) You’re an economics guy, aren’t you? (Kyle) Yes. (Duane) Yes. (Kyle) Well, I just think this is interesting; it’s a new phenomenon. When you go to a new country, and you send money home because when we were populating this country by huge amounts of immigrants, it’s not like we aren’t now I guess, but anyway people were so darn poor they couldn’t send any money home. In fact, they had to be sponsored by someone to come in a lot of times. Nowadays– (Duane) They came here with some new opportunity. (Kyle) A lot of people travel the world in order to find work and send the money home, and it’s a major part of a country’s gross domestic product. For instance, this has been a while but the last I heard; we were sending about 40 billion a year from the United States back to Mexico in remittance. In other words workers in United States, the extra money they had sent it back there. Well, in the world it’s up near $600 billion. Every year. (Duane) Seriously. (Kyle) Every year, $600 billion dollars. (Duane) That’s like business. (Kyle) In 1980, it was a whopping 20 billion. This is a relatively new phenomenon and huge since the year 2000. It increased just about the inflation rate between about 1970 and 2000 and since 2000, PSHHH! Now, why do you think that would be? (Duane) Is it money transfer? Money transfer safer to get the money back? (Kyle) I don’t know. (Duane) They probably had ways of doing that. (Kyle) They had it earned in 2000. Well for one thing, the Middle East, most of the workers in the Middle East are not born in the Middle East. They are from the Philippines or Pakistan or the United States. We have a lot of contract workers. They’re high dollar contract workers in the oil fields over there. Would that money be sent home be remittance? (Duane) I don’t think so because they’re probably working for an American company that was contracted out. (Kyle) Okay, the foreign government’s paying an American company, but we were paying you as an American in America.
(Jamie) Thanks for joining us. I’m your host Jamie Bloom and I hope you enjoyed today’s show. See you next week on Farm Factor – we’re here every Tuesday on AGam in Kansas.