Trump to Miami to address Cuban relations...
Bottom Line: On Friday President Trump will be traveling to Miami to clarify, and potentially redefine, guidelines for Americans to travel to Cuba and how "normalized" relations will remain between the two countries. In advance of that visit here's important information I've shared previously...
A little more than a year into the ability for Americans to freely come and go to Cuba is this research from Allianz Global Assistance showing that fewer Americans are interested in going to Cuba. One of the more common reasons cited is instructive as well.
According to Allianz only 2% of Americans are seriously considering traveling to Cuba this year. That's the same figure as last year but perhaps more instructive...60% of Americans won't consider traveling to Cuba. That's up from 58% at this time last year. Conventional wisdom would generally suggest that the more normal travel to Cuba seems, the more people who'd become open to doing so. That's why it's odd that it's already trending the other way.
The most common reason cited to Allianz is the repression of the Cuban people. This is news to my ears. From the onset of this conversation I've pointed out what would happen and sadly has happened as a result of Americans visiting Cuba and spending money in the country. As I've indicated on several occasions, the average state mandated income in the Communist country is $25...per month!
That means that whether you're a doctor or entry level worker you earn $25 per month. The government keeps all else for itself. Here's my entry from January 18th that fills in the rest of the story...
The Profit in Cuba – must see TV for the real story of what's up in Cuba.
Bottom Line: The Profit is a CNBC show that stars Marcus Lemonis, Founder and CEO of Camping World. The show typically involves distressed small businesses reaching out to Marcus for assistance in turning their companies around. Most commonly this includes Marcus personally investing in these companies and directing the turnaround efforts personally. It's a terrific show for all who're interested in learning more about business generally and specifically what really goes into having to run a successful small business. That being said there was an episode in the latest season that broke from this pattern. It was the episode entitled "The Profit in Cuba". It originally aired on November 15th (I just got around to watching it in my DVR). It's the best depiction of what it's really like to live under the iron fist of communist Cuba. It emphasizes the tragic reality of what I've asserted for years on this topic...That the average Cuban earns less in a month than the average American does in a day (in fact in 2017 the Average American earns more in an hour!).
At just $25 per month in Government allowed income, Cubans are oppressed in a way in which Americans simply can't comprehend. It also demonstrates that business are still shut down without warning and confiscated by the government.
There's a lot more to the story but I implore you to watch the episode:
http://www.cnbc.com/live-tv/cnbc-originals/full-episode/the-profit-in-cuba/810325059703