According to Dallas Fed’s Kaplan, America has an over abundance of jobs and needs to attract wanton amount of migrants in order to fill the insatiable demand for cheap labor, aka ‘skills gap.’
While on one hand, Kaplan ceded to the notion that globalization was a primary reason for price deflation and stagnant growth, he also blamed America’s aging demographics for lackluster growth.
“One of the big challenges we face in the United States and one of the reasons why GDP growth has been so sluggish is our population is aging and our workforce growth has been slowing,” he said in an interview from the Fed’s annual conference in Jackson Hole, Wyoming.
“There’s a big skills gap in this country. There’s hundreds of thousands if not millions of jobs that employers can’t fill, and everywhere I go I hear about this,” he said. “We need to grow the workforce if we’re going to grow the GDP.”
While much of Europe and Japan are beset by aging populations that threaten the very fabric of the burgeoning credit card industry, according to the most recent demographic projections, America is just fine. As a matter of fact, just 15% of our population is over 65 years old and our population should steadily increase for the next 50 years.
Taking a passive-agressive shot at President Trump’s immigration ideas, Kaplan reminds us that his parents were immigrants. Ergo, using that logic, we should therefore embrace anyone who’d like to enter the country and take out a credit card loan, or perhaps one designated for students. He’s also a big fan of NAFTA.
“Immigrants and their children have made up over half the workforce growth in this country over the last 20 years. They’re likely to need to make up more than half in the next 20,” Kaplan said. “And one of the key distinctive competencies in the United States is our ability to take people, including my grandparents, assimilate them and make them productive members of society. … I would be very loathe to see us lose that distinctive competence.”
Kaplan also voiced support for international trade agreements, though he agreed with the administration’s position that NAFTA should be renegotiated.
“Those trade relationships are essential to U.S. competitiveness and growing U.S. jobs,” he said.
It’s important to remember that members of the Federal Reserve and the banking industry do not belong to any nation. They’re merely cogs in a very big wheel, crunching numbers and wholly interested in seeing banks do well. The social ramifications of too much immigration will never resonate with people like Kaplan, nor do they understand, or care, about who fills construction jobs or other forms of manual labor, as long as America is able to do so in the cheapest way possible. Free trade agreements will always be supported by the Fed, because it enables US corporations to hire very cheap labor in Mexico. That’s all that really matters, to men like Kaplan. Your neighborhood and your job is an unimportant statistic and could be replaced by ‘innovation’ or free trade agreements — because companies like Apple need to hoard MOAR cash.
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translation: we don’t want to pay American employees market rates. We would prefer some more H-1B indentured servants who will work for 40% less while keeping their mouth’s shut.
That’s how one becomes President so it won’t stop.
Explain?
Trump uses visas to staff Mar- A-Lago claiming that no local American workers are available. Total bullshit. Of course he pays crap wages that only immigrants will take.
https://www.reuters.com/article/us-usa-election-trump-exclusive-idUSKCN0Q62RQ20150802
Ignore the section about foreign models.. that was done for personal reasons.
OMG, importing 250 foreign fashion models. That Trump is a really bad hombre.
TC That article dates back to 2015 – Trump campaigned on restricting immigration and has been putting the brakes on H1-B visas since April of this year. From Vox:
“Over the past few weeks, the administration has suspended a practice that allowed employers to get their applications processed within six weeks (instead of several months) if they paid a higher fee, and issued a warning on the day visa applications opened for 2018 that the government would be cracking down on employers who used H-1B workers for jobs Americans could fill. And now, with this executive order, it’s declared that the H-1B visa is a top enemy of the pledge to “Hire American.”
https://www.vox.com/policy-and-politics/2017/4/18/15340686/h1b-visa-executive-order-trump
This is the view from India:
“President-elect Donald Trump has picked Senator Jeff Sessions, a hardliner on immigration and a fierce critic of H-1B visas — used by US companies to hire highly skilled foreigners, including many from India — as his attorney general.”
http://www.hindustantimes.com/world-news/trump-picks-opponent-of-h1b-visas-as-attorney-general-reports/story-t3U371PWKa06EEFlV7yDFO.html
He has to import female models because it’s almost certain that these are indeed females.
I buy into the idea most middle and lower economic class consumers will not step up and pay up for goods and services. This leads to employers than cannot pay a good wage.
More bluntly… the masses do not understand the connection between shopping for the low price and working for the low wage.
Let in more Asians (includes Russians) and West Africans.
We have enough Latin Americans for now.
Dallas Fed’s Kaplan is correct that America Needs More Immigrants to Fill ‘Skills Gap’ – we need more Muslims with skills to terrorize and behead infidels. Not enough of it in America. We are lagging behind Europe in this regard.
Don’t forget drug dealers. Can never have enough pharmaceuticals easily available at every cross road.
Goldman has people everywhere…..
Prior to joining Harvard in 2006, Kaplan was vice chairman of The Goldman Sachs Group, Inc. with global responsibility for the firm’s Investment Banking and Investment Management Divisions. Previously, he served as global co-head of the Investment Banking Division. He was also a member of the firm’s Management Committee and served as co-chairman of the firm’s Partnership Committee and chairman of the Goldman Sachs Pine Street Leadership Program.
The RAISE act is a good balance. It allows skilled, merit-based immigration and ends the mass hordes of low IQ welfare takers, which are voting for and fueling the racialist, politically correct, Democrat takeover of the country. Demographics determine the future.
I say trade the RAISE act, E-verify, and the wall for DACA amnesty. Good for all sides!
If DACA amnesty pushes Texas blue, that is NOT a good trade.
DACA carries with it the risk that gang members will use it to avoid deportation.
We should let everyone in because we’ve always done it that way. Yes! Excellent reasoning.
There is a petition to declare Antifa a terrorist organization. 300k signatures and counting
https://petitions.whitehouse.gov/petition/formally-recognize-antifa-terrorist-organization-0
950,000 on petition to impeach.
That’s not how impeachment works champ. It’s not popularity contents – the election you lost was though. You should really accept you lost the election and move on.
Contest*** fuck
I wonder if those are signatures of registered voters that died many years ago yet managed to place their vote for Crooked Hillarity just a few months ago:
https://tinyurl.com/y8u4cybd
Probably 900,000 illegal aliens and 50k dopey hippies. Cleans your mind with the Buddha of the right. https://youtu.be/B4fgHwxBFmA
In reality can’t anyone in the world sign an online petition? These could be bots or click-farms from India for that matter. Even North Koreans.
The thing about the Fed is they can’t even understand how to properly apply the Phillips Curve even when the inventor explained to them how they were misusing it to justify inflation.
The Fed and the Phillips Curve—now there’s a bedazzling discussion.
Not sure if any of you watch Joe Rogan’s podcast but Peter Schiff was on there yesterday discussing a lot of things including crypto currencies, its worth a listen to. https://www.youtube.com/watch?v=by1OgqQQANg
So, if there are not enough workers to fill the job openings one would think that wages would be increasing rapidly (which isn’t happening).
No there must be other factors involved. Your statement makes too much sense.
Therefore, powerful people the likes of Kaplan ignore such a logical conclusion.
Those are job openings at Mc Donald’s and Chipotle—yeah who wants to work there. You’d have to pay me,….never mind.