Import Workers to Cut Wages by $100 Billion

[Rightguide]

Goldman Sachs to Joe Biden: Import Workers to Cut Wages by $100 Billion​

NEIL MUNRO24 May 2022

President Joe Biden should cut roughly $100 billion from Americans’ wages in one year by importing 2.5 extra million foreign workers, says Wall Street’s leading investment firm, Goldman Sachs.

After President Donald Trump’s migration cuts, “the substantial gap between the number of workers and the number of jobs … has led to wage growth of 5 1/2% over the last year,” the firm complained on May 23.

“We have estimated that the [worker] gap would need to close by around 2 ½ million [extra migrants] to return wage growth to the 4-4½% range,” the report concluded.

The longed-for cut of 1.25 percent in Americans’ wages would take $137 billion from voters’ pocketbooks, each year, in perpetuity, according to data provided by another Wall Street firm, Moody’s Analytics.

Moreover, Goldman’s focus is on stock values. Those stock values are based on Wall Street’s predictions of future profits over the next 20 years. So Goldman’s one-year migration surge and one-year wage cut of $100 billion could boost stock values by about $2 trillion.

More here:

https://www.breitbart.com/immigrati...s-import-workers-to-cut-wages-by-100-billion/

Probably why Joe is allowing the World to flood our borders, in order to cut your wages.

 

[LukSkyFokker]

Probably why Joe is allowing the World to flood our borders, in order to cut your wages.

Why are you sofa king stupid?

 

[pecksniff]

Probably why Joe is allowing the World to flood our borders, in order to cut your wages.

Why would he want wages cut?

 

[pecksniff]

In any case, this isn't a reduction in wages -- the only difference is that immigrants will be earning them. Their earnings do not appear to have been accounted for in the figures given in the OP. The OP gives the impression this is money drained out of the American economy. But, it isn't -- they'll earn it here, they'll spend it here, and the benefits of their labor will accrue to American businesses.

 

[LukSkyFokker]

Why would he want wages cut?

vetteman is an economic innumerate.

 

[Chobham]

Really? That's their solution? Myopic assholes.

 

[anarchoMando]

Goldman Sachs to Joe Biden: Import Workers to Cut Wages by $100 Billion​

NEIL MUNRO24 May 2022

President Joe Biden should cut roughly $100 billion from Americans’ wages in one year by importing 2.5 extra million foreign workers, says Wall Street’s leading investment firm, Goldman Sachs.

After President Donald Trump’s migration cuts, “the substantial gap between the number of workers and the number of jobs … has led to wage growth of 5 1/2% over the last year,” the firm complained on May 23.

“We have estimated that the [worker] gap would need to close by around 2 ½ million [extra migrants] to return wage growth to the 4-4½% range,” the report concluded.

The longed-for cut of 1.25 percent in Americans’ wages would take $137 billion from voters’ pocketbooks, each year, in perpetuity, according to data provided by another Wall Street firm, Moody’s Analytics.

Moreover, Goldman’s focus is on stock values. Those stock values are based on Wall Street’s predictions of future profits over the next 20 years. So Goldman’s one-year migration surge and one-year wage cut of $100 billion could boost stock values by about $2 trillion.

More here:

https://www.breitbart.com/immigrati...s-import-workers-to-cut-wages-by-100-billion/

Probably why Joe is allowing the World to flood our borders, in order to cut your wages.

Maybe its because of capitalism