Okay, you've thought through this much more than I have.
It would be successful if a bunch of purged ex military types got involved and led the effort. Obama spent eight years purging high ranking officers from the Navy so they are bound to be pissed. Then he also went after career military to replace with younger and more indoctrinated military.
All this needs of course is good leadership, organization and funding. Yes, it would mean being surrounded by Latinos but most of them aren't that bad until you get to the backwards villages.
Mexico is a hot bed of corruption but a few years under martial law should see enough executions to purge the society of at least half of the malefactors in government. After that, strict enforcement of anticorruption laws with harsh penalties should weed out about 25% more of the baddies.
The military bases would of course have to be taken over and restructured but the mistake of defunding the military should not be made. Rather, coopt as many who are in charge as possible, reeducate those who are willing to cooperate and deport the malcontents to mainland.
I'd opt for a massive boost in education starting at first grade and make English a requirement. The Latino culture should be preserved, with such things as cuisine, local festivals, music and art maintained so far as the people want it.
In ten years time the locals would find they had a booming economy. Another thing, international banking would make the place a gold mine. Protections for anyone wanting to hide their wealth in bank accounts would need to be strictly enforced in the banking community. Baja would be like the Latino version of Switzerland.
Proper management under a new government would make Baja a mecca for banking, money transfers, technology and international business.
You know, Tijuana used to take in billions of dollars in tourism every year but 97% of the taxes collected went straight to Mexico city. And then people wonder why TJ is a shithole.
Right now the Mexican government is weaker than it's ever been. The military is fractured, local politicians are so corrupt and cowed by the narcos they don't dare step out of line or they get killed within a day. It's a weak country and I doubt they could mount a credible defense to an organized invasion.
If you do a google earth search along the southern coasts you can see the remains of hundreds of houses that were bulldozed. Houses owned by Americans who bought into the idea they could just buy land along the coasts and build a vacation home. Plots for homes could be distributed as an award for every single soldier who wanted to join the invasion. Ready made plots already exist.
I'll take some land in La Paz, if we're successful.
For me, West of San Felipe is a nice farming community. Nice drive to the Sea of Cortez but far enough away to avoid crowds and tourists. Even now a guy could happily settle down there.
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