The richest mega-investor on Wall Street claims that movement makes it difficult for developed nations to adopt the high-tech, productivity-boosting solutions that will increase the income of regular folks.
At a pro-globalist event held by the World Economic Forum in Saudi Arabia, BlackRock chairman Larry Fink argued that the developed nations are the ones with shrinking communities that are the major winners. He continued:
That’s something that most individuals rarely talked about. We always used to think]a ] shrinking population is a cause for negative]economic ] growth. However, in my conversations with the heads of these big, developed nations [such as China, and Japan], who have prejudiced anti-immigration policies and have shrinking demographics, they say they will quickly develop robotics, AI, and technology.
If a promise of all that changes production, which most of us think it will]emphasis added ]  , — we’ll be able to raise the standard living in states, the standard of living for people, even with shrinking groups.
In contrast, states with expanding communities need to focus on simple problems of education and the “rule of law”, said , Fink, who oversees$ 10 trillion worth of investments worldwide:
So for those countries that have rising populations, the answer will be education …]and ] for those countries that do not have a foundation of rule of law, or education, that’s where the]economic ] divide is going to get more and more extreme.
This is a man who tried very hard to profit from mass immigration, but it ultimately turned out to be wrong, and then he regrets his decisions, according to Rosemary Jenks, co-founder of the Immigration Accountability Project.
We did that all through the 1950s, World War II, and the middle of the 1960s, according to Jenks,” the United States has a background of showing that you can increase productivity and increase per capita GDP with small emigration.”  , Since the 1960s, “what we have also proven is that large multiculturalism is a disadvantage … it reduces per capita GDP, it reduces quality of life, it reduces inequality”, Jenks added.
Throughout history, labour shortages have bumped up income, boosted technology, and decreased economic split.
According to Jenks, immigration’s impact is becoming more and more prevalent in Washington.
Although every single economic data point indicates otherwise, the Chamber of Commerce is not in favor of mass immigration, which is why they are still crying about a labor shortage. Democrats may realize that mass immigration is not the solution to our economy, but I believe they have other justifications, so I do n’t want to credit Fink in any way.
In recent months, U. S. and foreign economists, policymakers, and politicians have been admitting that mass migration has fueled , inflation, housing prices, and interest rates.
Worse, economists admit it shrinks CEOs ‘ willingness to pay for the , vital growth in the automation and productivity , that allows voters to , earn more wages , by doing more work each day.
Overall productivity is about 1 % below CBO’s pre- pandemic forecast.
( The fact that output is a little above CBO’s pre- pandemic forecast is because labor, particularly through immigration, has come in higher than expected. ) pic. twitter.com/xfIt8Lq7X1
— Jason Furman ( @jasonfurman ) May 2, 2024
Yet President Joe Biden, age 81, is still championing the pro- migration policy touted by investors— who want more low- wage workers, consumers, and renters— and by government progressives.
” You and many others are one of the reasons our economy is growing,” he said. Why? Because we welcome immigrants”, Biden said on April 30, according to a report by a pool reporter. He continued:
Why is China stalling so badly economically? Why is Japan having trouble? Why is Russia? Why is India? Because they’re xenophobic. They do n’t want immigrants! …Immigrants are what makes us strong. Not a joke. That’s not hyperbole, because we have an influx of workers who want to be here and just contribute.
Biden’s economic strategy , of Extraction Migration serves his coalition well — it bumps up stock prices for many investors and imports many poor dependents for federal, state, and local governments.
Over the last 12 months, employment of native- born Americans has been essentially flat, with all net employment growth going to foreign- born workers, it’s important to look at Y/Y changes w/ these categories b/c they’re not seasonally adjusted so the M/M change can be deceiving: pic. twitter.com/ioNq0LcViW
— E. J. Antoni, Ph. D. ( @RealEJAntoni ) May 3, 2024
In contrast, President Donald Trump has promised to end illegal migration. Despite the possibility of an election-day reward, he has not discussed how to reform legal immigration to boost white and blue-collar voters ‘ incomes and innovation.
Trump in Wisconsin takes aim at Bidenomics:
” The Biden job numbers are fake. He’s counting people coming back to work…they call them bounce back numbers”.
” Unintended immigrants” were responsible for a large portion of the immigration and employment statistics. Almost all of the numbers were from illegal … pic. twitter.com/tjua8cJjdZ
— Charlie Kirk ( @charliekirk11 ) May 1, 2024
At the World Economic Forum meeting, Fink declared,” The paradigm of negative population growth is going to change.” The social problems that]we ] will have in substituting humans]work ] for machines work ] is going to be far easier in those countries that have declining populations.”
Extraction Migration
Since at least 1990, the federal government has relied on , Extraction Migration , to grow the consumer economy after it helped investors move the high- wage manufacturing sector to lower- wage countries.
The migration policy extracts , vast amounts of , human resources from needy countries. The additional workers, consumers, and renters push up stock values , by shrinking Americans ‘ wages, subsidizing , low- productivity companies, boosting rents, and spiking real estate prices.
The economic policy has pushed many native- born Americans out of careers in a , wide variety , of business sectors, reduced Americans ‘ , productivity , and political , clout, slowed , high- tech innovation, shrunk trade,  , crippled , civic solidarity, and incentivized government officials and progressives to ignore the , rising death rate , of , discarded, low- status , Americans.
I spoke with a remarkable young woman who has lived on and off the streets since she was 14 years old. She was immediately shocked when the man who was trying to protect her was the cruelest and most cruel. Although she was much older and very mean to him, he was. pic. twitter.com/VQTqj8Sjto
— Kevin Dahlgren ( @kevinvdahlgren ) May 3, 2024
The policy also sucks jobs and wealth from heartland states by , subsidizing coastal investors , and government agencies with a flood of low- wage workers, high- occupancy renters, and government- aided consumers. Similar policies have harmed Canadian and British citizens ‘ economies.
The colonialism- like policy , has damaged small nations, and has killed , hundreds of Americans , and , thousands of migrants, including many on the , taxpayer- funded jungle trail , through the Darien Gap in Panama.
