President Joe Biden’s migration crises raises the mortgage rates that burden young couples and families, according to the , leader of the Federal Reserve Bank of Minneapolis.
” While the lengthy- run effect of improved immigration on inflation is unclear, immigrants however need a place to live, and their arrival in the U. S. has probably also increased demand for housing”, said Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said on May 7.
In turn, he said, mortgage rates are nudged upwards with higher interest rates, saying,” Perhaps a neutral]interest ] rate for the housing market is higher than before the pandemic”.
The Federal Reserve, which Kashkari is a member of, is currently raising interest rates to lessen the unhappy prices brought on by deficit spending by the government.
But since 2021, Biden’s deputies have even worsened inflation by importing about ten million legitimate, unlawful, and quasi- legitimate migrants.
The migrants are intended to complete jobs, lower wages, lead the consumer market, and improve rental rates. The signal in human resources benefits both investors and investors who want more customer demand and lower wages, as well as progressives who want more federal dependents and prospective voters.
But this massive flows has inflated cover prices, used trucks, and other consumer items as likewise cutting wages for Americans.
” Vast work coming across the boundary” is reducing the compensation paid to Americans, Kristalina Georgieva, managing director of the International Monetary Fund,  , said , in April.
” Across the , G10]group of wealthy countries ] … there is no doubt immigrants need things as soon as they arrive, boosting demand]for used autos, food, etc. ]”, the Economist newspaper admitted. ” Somewhere is this clearer than in the case of rental accommodation, which is in short supply across the anglosphere”.
Nevertheless productivity is about 1 % below CBO’s pre- epidemic forecast.
( The fact that production is a little above CBO’s prior- pandemic estimates is because work, particularly through emigration, has come in higher than expected. ) pic. twitter.com/xfIt8Lq7X1
— Jason Furman ( @jasonfurman ) May 2, 2024
An elite must reevaluate economic policy because of the chaos brought on by mass migration.
At a gathering held on April 29 at the World Economic Forum in Saudi Arabia, BlackRock founder Larry Fink stated,” The big winners are the nations with shrinking populations… [such as China and Japan ] will quickly develop robotics, AI, and technology.” He , continued:
If a promise of all that]technology ] transforms]per person ] productivity, which , most of us think it will , ]emphasis added ]  , — we’ll be able to elevate the standard living in countries, the standard of living for individuals, even with shrinking populations.
Democrats, however, prefer to stimulate the nation’s consumer economy with more migrants.
Migrants— not voting Americans and their children — “are what makes us]economically ] strong”, Biden told a May 1 fundraiser for pro- migration groups at the elite Mayflower Hotel in Washington, DC.
Extraction Migration
After helping investors move the high-paying manufacturing sector to lower-paying nations, the federal government has relied on Extraction Migration  since at least 1990 to grow the consumer economy.
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.
