The newspaper said President Joe Biden’s mass immigration is driving up inflation, primarily by increasing home prices. economista pro-globalism magazine for elites based in the UK.
In the United States, Australia and the United Kingdom, national rents, per capita wages and workplace productivity have suffered. Canadaand other wealthy countries whose governments extract immigrants from developing countries, the April 30 paper said. articlethe headline is “Immigration surge has major economic impact.”
“The impact of immigration goes far beyond its arithmetic impact on GDP. [Gross Domestic Product] — that extends to inflation, living standards, and government budgets,” the April 30 article admits, debunking the elite narrative.
Many policymakers have recently claimed that immigration helps reduce price increases by alleviating labor shortages…but the evidence is weak and may actually point in the opposite direction. be.across GTen [group of wealthy countries] …There is no doubt that as soon as immigrants arrive, they will need supplies and demand will increase. [for used autos, food, etc.].
Nowhere is this more evident than in the case of rental housing, which is in short supply worldwide. Research by Goldman Sachs shows that for every 100,000 net overseas migrants a year in Australia, rents rise by around 1%. A paper published by the Bank of Canada in December said that “the initial increase in immigration experienced by Canada is more likely to cause inflation in the short term.”
The magazine’s admission is helpful because U.S. media dares to depict the damage President Biden’s decision to admit about 10 million illegal, semi-legal, and legal immigrants starting in 2021 has done to the economy and Americans’ pocketbooks. That almost never happened. .
This connection is also ignored in Republican immigration campaign propaganda that emphasizes border chaos, illegal immigration, crime, and the burden on taxpayers to provide free health care and education to legal and semi-legal immigrants. .
Firefighters in Eagle Pass, Texas, the epicenter of Biden’s border crisis, say it’s taking a toll on the community.
“We’re tired. Our communities are tired. Crime is up, death is something we’re seeing every day. It’s pretty bad for all of us.” pic.twitter.com/3hGBCmraJh
— RNC Research (@RNCResearch) April 9, 2024
So far, attack ads from Republican donors have ignored Biden’s connection to migration, inflation and home prices, even as voters’ anger over inflation, interest rates and home prices sways. .For example, his April 28-30 poll by YouGov Indicated For 23% of independents, “inflation/prices” was the most important issue.
But the relationship between consumer demand, immigration, and inflation is slipping past the gatekeepers of the ruling media.For example, Bloomberg I got it. On April 4th, FHN Financial’s Chris Roe pointed out that while an increase in the workforce would put downward pressure on wages, it would also “put upward pressure on prices.” After all, “more people are eating here, driving here, and living here.” ”
Meanwhile, Biden’s lawmakers will try to downplay the inflation caused by his decision to import 10 million illegal, semi-legal, and legal consumers, renters, and workers into the U.S. economy starting in 2021. It is said that
Housing’s contribution to inflation has increased significantly. Housing currently accounts for one-third of the consumer items measured by the CPI, so even a small increase can have a significant impact on inflation.[1] In June last year, housing accounted for one-fifth of inflation, contributing 1.7 percentage points. By March 2023, the contribution of housing he rose to 2.6 percentage points, half Annual CPI inflation rate. For perspective, pre-pandemic housing typically contributed about 1 percentage point to inflation.
Higher inflation due to immigration prompted the Federal Reserve to raise interest rates. drive The cost of the loan required to build or purchase a home increases.
WTOP report On the dilemma facing Anton and Shelby Rogozhnikov in Texas on April 11th.
The couple owns a townhome in Dallas and would like more space as they plan to have their first child. They are looking for a home with at least three bedrooms for her within a budget of about $300,000.
…
Shelby Rogozhnikov, 38, a dental hygienist, said, “I know interest rates are going to go down eventually, but I feel like home prices might go up again if they go down.” “I’m concerned about mortgage interest rates, and my body clock has a shorter time frame than mortgage interest rates, so now might be a good time.”
Also, economyThe article noted that Biden’s immigration would tend to depress average wages, per capita wages, and productivity, potentially offsetting the damage caused by Biden’s inflation and interest rates.
Despite new arrivals clearly boosting GDP [Gross Domestic Product, or the size of national economies]appears to be pushing down GDP per capita, the standard by which economists usually measure living standards. GDP Australia’s per capita population declined or did not increase for the fourth quarter in a row, and the UK’s population for seven consecutive quarters. In Canada, where the decline in this indicator is most pronounced, in 2023, output per capita decreased by his 2%. The situation is similar in Germany, Iceland and New Zealand.
In some metropolitan areas, the relative supply of unskilled labor increased rapidly in the 1980s and 1990s due to waves of immigration and trends toward regional concentration of immigrants. [Factory] Factories in these regions installed significantly fewer machines per unit of output, even though they initially had similar installation plans.
It’s worth a little more concern, study, and discussion about what the United States can do to improve the labor market recovery. The European ones were much better and returned to pre-corona status by mid-2021, a year and a half before us. And Prime Age EPOP is currently 2 points higher than it was before the coronavirus. pic.twitter.com/sbK78vKWWf
— Jason Furman (@jasonfurman) April 26, 2024
Extract migration
Since at least 1990, the federal government has relied on extractive migration to grow the consumer economy after helping investors move high-wage manufacturing jobs to low-wage countries.
Immigration policies rob poor countries of vast human resources.Additional workers, consumers and renters push It drives up stock prices by lowering American wages, subsidizing low-productivity companies, raising rents, and inflating real estate prices.
This economic policy deprived many mainland-born Americans of careers in a variety of business fields, reduced American productivity and political influence, slowed high-tech innovation, reduced trade, and Society has become inconvenient. solidarity of citizensAnd he encouraged government officials and progressives to ignore the policy. increased mortality rate of got thrown away, low status American.
For the first time, we were able to depict migration by region of the world on the U.S.-Mexico border. This is the status of immigration arrests by the Border Patrol from 2014 to December 2023.
Mexico and Central America had 97% of the population, but now it is 52%.
One in eight immigrants in the first quarter of 2024 came from outside this hemisphere. pic.twitter.com/dogEz4PdG0
— Adam Isaacson (@adam_wola) April 26, 2024
The policy also siphons jobs and wealth from core states by subsidizing coastal investors and government agencies with large numbers of low-wage workers, high occupancy renters, and government-supported consumers. ing. Similar policies are hurting the people and economies of Canada and the United Kingdom.
Policies like colonialism harmed small countries and killed hundreds of Americans and thousands of immigrants. Taxpayer-funded jungle trail Through the Darien Ditch in Panama.
