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    Sunday, May 25

    Globalist Magazine Admits Joe Biden’s Migration Spikes Inflation

    Updated: Politics No Comments

    President Joe Biden’s mass movement is raising prices, mostly by raising accommodation prices, according to the Economist, a U. K. based pro- ideology publication for elites.

    Citizens ‘ rents, per- head wages, and work efficiency are being damaged in the United States, Australia, the United Kingdom, Canada, and various rich countries where governments are extracting migrants from developing countries, says the April 30 article, headlined” Immigration is surging, with large financial consequences”.

    ” Immigration’s impact goes well beyond an arithmetic effect on GDP]Gross Domestic Product ] — it extends to inflation, living standards and government budgets”, the April 30 article admits&nbsp, as it debunks the&nbsp, elite narratives:

    Some politicians have recently argued that movement is easing labor shortages and is preventing rate increases, but the evidence is weak and may in fact place in the same way. Across the G10]group of rich countries ] … there is no doubt newcomers need points as soon as they arrive, boosting demand]for used autos, foods, etc. ].

    Nowhere is this clearer than in the case of rental accommodation, which is in short source across the anglosphere. According to a study conducted by Goldman Sachs, a bank, prices increase by about 1 % annually in Australia for every 100, 000 increase in annual gross outside movement. The Bank of Canada stated in a December report that” the first increase in immigration is more likely inflationary in the near term.”

    The magazine’s admission is important, in part, because some media outlets in the United States have dared describe the damage done to the economy and to Americans ‘ pocketbooks by Biden’s decision to welcome approximately 10 million improper, quasi- legal, and legal immigrants since 2021.

    The GOP’s immigration-related campaign pitches emphasize border chaos, illegal immigrants, crime, and more recently, the taxpayer burden of providing free healthcare and education for legal and quasi-legal immigrants are also ignored.

    So far, the GOP’s donor- funded attack ads have ignored the links between Biden’s migration, inflation, and housing prices — despite swing voters ‘ anger at inflation, interest rates, and housing prices. For example, an April 28- 30 poll by YouGov showed that “inflation/prices” is the most important issue for 23 percent of independents.

    But the connection between consumer demand, immigration, and inflation is sneaking through the gatekeepers in the establishment media. For example, Bloomberg noted&nbsp, on April 4,” FHN Financial’s Chris Low points out that while a bigger labor force puts downward pressure on wages,’ it also puts upward pressure on prices.’ After all,’ more people are eating, driving and living here.'”

    Meanwhile, Biden’s deputies are trying to downplay the inflation spurred by his decision to import 10 million illegal, quasi- legal, and legal consumers, renters, and workers into the U. S. economy since 2021.

    Yet the administration’s own reports&nbsp, also admit that housing prices are responsible for roughly half of the nation’s inflation that helped push up interest rates:

    Housing’s contribution to inflation has significantly increased. Housing currently accounts for a third of the consumer basket of items according to CPI, so even modest increases can have an unfavorable effect on inflation. ]1 ] &nbsp, Last June, housing accounted for a fifth of inflation, contributing 1.7 percentage points. By March 2023, housing’s contribution rose to 2.6 percentage points, making up&nbsp, half&nbsp, of annual CPI inflation. For perspective, before the pandemic housing would typically contribute about 1 percentage point to inflation.

    The Federal Reserve has increased interest rates in response to the rising inflation brought on by migration, which increases the cost of the loans needed to build or purchase housing.

    WTOP&nbsp, reported&nbsp, April 11 on the dilemma facing Anton and Shelby Rogozhnikov in Texas.

    Now that the couple wants more space for their first child, they own a townhome in Dallas. They’re searching for a house with at least three bedrooms that falls within their$ 300,000 budget.

    …

    ” I know interest rates will go down eventually, but I feel like when they go down housing prices might go back up again”, said Shelby Rogozhnikov, 38. a dental hygienist. It’s either now or never because I have the mortgage rate thing to worry about and my biological clock, which has less time left over the mortgage rates.

    Also, the&nbsp, Economist article noted that Biden’s migration tends to push down the average or per capita wages, and productivity that could offset the damage caused by Biden’s inflation and interest rates:

    Although new arrivals are clearly boosting GDP]Gross Domestic Product, or the size of national economies], they appear to be dragging down&nbsp, GDP per person — the yardstick by which economists usually assess living standards. &nbsp, GDP&nbsp, per person has fallen or failed to grow for four consecutive quarters in Australia and seven in Britain. In Canada, where the drop in the measure is most pronounced, output per person fell by 2 % in 2023. The picture is similar in Germany, Iceland and New Zealand.

    The Economist made reference to a study by Ethan Lewis, an economist at Dartmouth University when it cited a cheaper-labor migration that also lessens the pressure on employers to equip their American employees with labor-saving machinery. Lewis&nbsp, wrote:

    In some metropolitan areas, in the 1980s and 1990s, there was a wave of immigration and a tendency for immigrants to cluster regionally. This led to faster growth in the relative supply of less-skilled labor. ]Factory ] Plants in these areas adopted significantly less machinery per unit output, despite having similar adoption plans initially.

    Extraction Migration

    Since at least 1990, the federal government has relied on&nbsp, Extraction Migration&nbsp, to grow the consumer economy after it helped investors move the high- wage manufacturing sector to lower- wage countries.

    The migration policy extracts&nbsp, vast amounts of&nbsp, human resources from needy countries. The additional workers, consumers, and renters push up stock values&nbsp, by shrinking Americans ‘ wages, subsidizing&nbsp, low- productivity companies, boosting rents, and spiking real estate prices.

    The economic policy has pushed many native- born Americans out of careers in a&nbsp, wide variety&nbsp, of business sectors, reduced Americans ‘ productivity and political&nbsp, clout, slowed&nbsp, high- tech innovation, shrunk trade, &nbsp, crippled&nbsp, civic solidarity, and incentivized government officials and progressives to ignore the&nbsp, rising death rate&nbsp, of&nbsp, discarded, low- status&nbsp, Americans.

    The policy also sucks jobs and wealth from heartland states by&nbsp, subsidizing coastal investors&nbsp, and government agencies with a flood of low- wage workers, high- occupancy renters, and government- aided consumers. Similar policies have harmed the economies and citizens of Canada and the UK.

    The colonialism- like policy&nbsp, has damaged small nations&nbsp, and has killed&nbsp, hundreds of Americans&nbsp, and&nbsp, thousands of migrants, including many on the&nbsp, taxpayer- funded jungle trail&nbsp, through the Darien Gap in Panama.

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