In the 1950s, the USA’s shoe industry employed over 250,000 workers. Now, it’s gone – along with scores of other industries.
In 1950, the USA brought in 249,187 immigrants. In 2010, while suffering from Great-Depression style unemployment, four times as many immigrants were brought in. Over a million!
Factories have been offshored in order to increase the profits of multinational corporations. Shoes, and thousands of other products, are now made by barely-paid Asian sweatshop workers, as opposed to well-paid American workers. The multinationals pocket the difference.
Immigrants have been brought in to deliberately increase unemployment. Increasing the supply of labor reduces its cost. If you go to a job interview where you are the only applicant, you can ask for more money. But if there are twenty other applicants, then your bargaining power is drastically reduced, right?
Trade policy and immigration policy in the USA are optimized to maximize corporate profits by minimizing your paycheck. But it goes beyond that.
The USA is in a “currency union” with China. The purpose is to keep the dollar strong versus the yuan so that multinationals can purchase vast quantities of sweatshop labor at the lowest possible prices. This currency union is not voluntary. No agency of the US government agreed to it. The currency union is enforced by Beijing and its multinational partners, whose lobbyists make sure that any challenges in Congress are stamped out.
Part of the reason why our economic recovery is so weak is that the Chinese have bought up so many of the new dollars which the patriotic Federal Reserve Bank injected into the economy. Beijing has vetoed our monetary stimulus.
Of course, the multinational corporations who literally own the mainstream media will see to it that the presidential election is about minor issues such as taxes, regulation, debt, etc.
But who cares?
It’s the sovereignty stupid!
Note: Since the unemployment crises began, over one million legal immigrants have been brought in each year. That’s more than double our historical average of 400,000. See the official spreadsheet compiled by the diligent bureaucrats at DHS.
yep. my IT career got crushed by H1b visa immigrants in the last decade. it wasn’t pretty.