Former US Treasury Secretary & NEC Director admits the point of lax US immigration was to cap labor wages to subjugate US middle- & working-classes to support the UST mkt (ie, certain Wash DC interests & Wall St), which has driven record US wealth inequality & political instability
"I think every sensible American thinks we need to do more to secure our border. But if you're talking about deporting millions of people, that is an invitation to labor shortage and bottlenecks. I hope Trump will get the message from this election and adjust his program so that it is not inflationary. I certainly hope that if his program is inflationary, it will not be accommodated by the Federal Reserve."
📎 Luke Gromen
British man attacked for entering a ‘no-go zone’ in London.
A horde of Islamists surrounded him and questioned why he was in ‘their’ neighborhood.
They threatened him and began chanting ‘Allahu Akbar’ as they kicked him out.
A 65-year-old couple retiring in 2025 with average earnings will receive an estimated $1.34 million in lifetime benefits, while contributing only $720,000 in today’s dollars.
That shortfall—more than $600,000 per couple—is being made up by younger workers.
“Most of the growth in spending has gone to retirement and healthcare, while programs that promote upward mobility... have been left behind”
https://www.newsweek.com/social-security-medicare-young-workers-cost-10477619