THE DEMOCRAT PARTY AND THEIR BILLIONAIRES: ANYONE BUT AN AMERICAN!!!
Billionaires Demand Fast-Track Amnesty After DACA Decision
Investor advocates and White House officials are lamenting the latest legal defeat of President Barack Obama’s 2012 DACA amnesty, and are calling on Congress to pass a formal amnesty by Christmas.
“Congress absolutely has to act this year,” claimed Todd Schulte, head of the FWD.us lobby group for wealthy West Coast investors, after the federal court announced the decision on October 5.
“Our businesses will lose critical employees,” said a press statement from a business coalition organized by Schulte’s billionaires. “We once again urge Congress to swiftly pass legislation this year that will help Dreamers, American businesses, and our country,” said the Coalition for the American Dream.
“It is long past time for Congress to provide Dreamers [DACA illegals] with the ability to live and work … they’re valued employees at the businesses where they work,” said a statement from the U.S. Chamber of Commerce.
The FWD.us investor group backs migration because it boosts their businesses with more wage-cutting workers, more consumers, and more renters. The founders include Bill Gates, Eric Schmidt, and Mark and Priscilla Zuckerberg. It was created in 2013 to help pass the 2013 “Gang of Eight” cheap labor and amnesty bill.
Report: Facebook to Fire Thousands as Part of ‘Quiet Layoffs’
Facebook executives are reportedly in the process of instituting “quiet layoffs” of underperforming workers that could see thousands of employees let go from the company.
The New York Post reports that executives at Facebook have begun the process of executing “quiet layoffs” of underperforming workers which could see thousands of employees let go from the firm.
Several employees told Business Insider that up to 15 perfect of the company’s workforce could be laid off over the next few weeks. One employee said that managers throughout the company were told to select at least 15 percent of their teams who fall into the “needs support” category — which is just another term meaning that they regularly require extra help and are underperforming.
Facebook employees posted to the popular workplace app Blind where they suggested that it was likely whoever was placed in the 15 percent category would be fired. If Facebook were to lay off 15 percent of its workforce, that would mean 12,000 employees would be fired from the firm.
Facebook’s chief engineer, Maher Saba, reportedly told managers in July that they needed to start identifying employees in their teams who fell into the “needs support” category but did not specify a percentage.
Facebook CEO Mark Zuckerberg has recently discussed performance at the company and told employees that new hiring has been frozen. “I had hoped the economy would have more clearly stabilized by now, but from what we’re seeing it doesn’t yet seem like it has, so we want to plan somewhat conservatively,” Zuckerberg reportedly said.
Wall Street Analysts Question the Future of Facebook
Wall Street analysts are questioning the future viability of Facebook’s business model amid a wider economic slump that has hit the social network hard.
The slump in Facebook (now known as Meta) shares, which was followed by a hiring freeze at the company, has some questioning whether the tech giant can ever recover.
Via CNBC:
“I’m not sure there’s a core business that works anymore at Facebook,” said Laura Martin of Needham, the only analyst among the 45 tracked by FactSet with a sell rating on the stock.
Nobody is suggesting that Facebook is at risk of going out of business. The company still has a dominant position in mobile advertising and has one of the most profitable business models on the planet. Even with a 36% drop in net income in the latest quarter from the prior year, Meta generated $6.7 billion in profit and ended the period with over $40 billion in cash and marketable securities.
The Wall Street problem for Facebook is that it’s no longer a growth story. Up until this year, that’s the only thing it’s known. The company’s slowest year for revenue growth was the pandemic year of 2020, when it still expanded 22%. Analysts this year are predicting a revenue drop.
Jeremy Bondy, CEO of app marketing firm Liftoff, commented: “I don’t see it spiraling in terms of cash flows in the next few years, but I’m just worried that they’re not winning the next generation.”
Over the past few years, competitors to Facebook, notably ByteDance’s TikTok, have enjoyed soaring popularity with younger users, while Facebook has lagged behind.
Like all tech stocks, the value of Facebook has slumped amid the wider economic downturn. The stock price currently trades at around $137, down from a high of 378 in September 2021.
Allum Bokhari is the senior technology correspondent at Breitbart News. He is the author of #DELETED: Big Tech’s Battle to Erase the Trump Movement and Steal The Election.
VIDEOS
JOE BIDEN'S WAR ZONE
Jesse Watters Primetime 10/4/22 FULL HD | BREAKING FOX NEWS october 4, 2022
https://www.youtube.com/watch?v=SVWC7ZUdQU8
Shocking Report Reveals CEOs are Panicking and About to Slash Jobs
https://www.youtube.com/watch?v=KdENXmpMTR0
THIS IS MADNESS! STOCKS HIGH ON HOPIUM, JOBS PLUNGE, FACTORY SLOW-DOWN, BUCKLE-UP FOR ECONOMIC SHOCK
"THIS IS WORSE THAN 2008"
PAYING LIVING WAGES TO LEGALS IS DAMNED COMMIE!!!!!!
THE NAFTA DEMOCRAT PARTY WORKING FOR THEM
Jobless Claims Inch Upward
The number of Americans who lost their jobs and filed for state unemployment benefits rose last week, but the labor market remains much stronger than officials from the Federal Reserve would like to see as they attempt to tame inflation.
Jobless claims for the week ending on the first of October rose by 29,000 to 219,000, the Labor Department said Thursday. The previous week’s number was revised down by 3,000 to 190,000.
The average number of jobless claims in the five years preceding the pandemic—a period in which the labor market was considered especially strong and unemployment was very low—was around 260,000.
Claims can be volatile week to week so many economists look to the four-week moving average to read the strength of the labor market. This moved up by a tiny 250 to 206,500.
The total number of Americans collecting unemployment benefits moved up by 15,000 to 1.36 million for the week ending Sept. 24. The long-term average, going back to 1969, for unemployment claims is 2.79 million.
Jobless claims are considered a proxy for layoffs. Although several companies have announced payroll cuts or hiring freezes, U.S. businesses in the aggregate have continued to add jobs. ADP reported on Wednesday that its data indicated the private sector added 208,000 jobs in September, more than economists had forecast. Manufacturing jobs were down, however, as were payrolls in technology and finance.
The Labor Department will release its report on jobs and unemployment in September on Friday. It is expected to show employment in the private and public sectors grew by 275,000 and the unemployment rate held steady at 3.7 percent.
On Tuesday, the Job Openings and Labor Turnover Survey showed that the number of open positions fell by 1.1 million. Despite the decline, job vacancies remain at a historically high level, above 10 million.
Billionaires Demand Fast-Track Amnesty After DACA Decision
Investor advocates and White House officials are lamenting the latest legal defeat of President Barack Obama’s 2012 DACA amnesty, and are calling on Congress to pass a formal amnesty by Christmas.
“Congress absolutely has to act this year,” claimed Todd Schulte, head of the FWD.us lobby group for wealthy West Coast investors, after the federal court announced the decision on October 5.
“Our businesses will lose critical employees,” said a press statement from a business coalition organized by Schulte’s billionaires. “We once again urge Congress to swiftly pass legislation this year that will help Dreamers, American businesses, and our country,” said the Coalition for the American Dream.
“It is long past time for Congress to provide Dreamers [DACA illegals] with the ability to live and work … they’re valued employees at the businesses where they work,” said a statement from the U.S. Chamber of Commerce.
The FWD.us investor group backs migration because it boosts their businesses with more wage-cutting workers, more consumers, and more renters. The founders include Bill Gates, Eric Schmidt, and Mark and Priscilla Zuckerberg. It was created in 2013 to help pass the 2013 “Gang of Eight” cheap labor and amnesty bill.
“There is a *lot* of confusion but this is a big step forward to the courts terminating DACA,” Schulte said in an October 5 tweet.\
“Judges are saying it’s dead but trying to hide it to play Biden admin & Dems for a bit,” he said in another tweet.
Schulte and other pro-migration advocates hoped to gain from a political backlash if the court fast-tracked the end of DACA before the midterm elections.
“That Federal judges who are throwing the lives of nearly 700k DACA recipients and another 1.5M family members in their households into chaos don’t understand basics on the law is VERY troubling,” he tweeted on October 5.
But the court deflated that possibility by saying that DACA’s work permits for roughly 700,000 illegal migrants can remain valid until a lower court responds to recent legal claims by the Biden administration. The court barred any expansion of the program.
The White House also complained: “It is long past time for Congress to pass permanent protections for Dreamers, including a pathway to citizenship … This challenge to DACA is just another example of the extreme agenda being pushed by MAGA-Republican officials,” said a White House statement.
FWD.us is working with other amnesty groups to sneak legislation through Congress in the lame-duck session before Christmas. For example, the groups have inserted language in the draft Pentagon spending bill that would open up white-collar jobs to an unlimited flow of foreign graduates
The business groups work closely with progressive groups who oppose national borders.
For example, pro-migration, Indian-born Rep. Pramila Jayapal (R-WA) also raged at the court’s decision, which concluded that presidents cannot hand out wage-cutting work permits to foreigners without approval from Congress. Jayapal complained:
[The] decision shows that DACA will continue to be threatened by xenophobic, anti-immigrant attacks from the right. Dreamers who continue to benefit from DACA deserve better than to have to worry about whether or not they will be able to stay in the only country they know as home each time the program is attacked in court.
“Dreamers [DACA illegals] deserve security and permanent status. Congress must step up and act to ensure that all Dreamers are safe from deportation and provided a roadmap to citizenship … And we must go further to ensure a fair, compassionate immigration system.
The staff of the FWD.us group tries to hide the identity of the wealthy investors who founded and funded the group. But copies exist at other sites.
FWD.us funds many of the progressive groups and law firms that tout amnesty and visa worker programs. The progressive groups control most of the advocacy groups to ensure that illegal immigrants do not try to negotiate a compromise deal with Republican legislators.
The high-profile DACA fight helps FWD.us suck up time and attention from establishment reporters who might otherwise be tempted to investigate the impact of migration on U.S. society. Those impacts include the continued annual inflow of more than 250,0000 subordinate visa workers into the Fortune 500 jobs needed by U.S. professionals and their families.
Extraction Migration
It is easier for government officials to grow the economy by immigration than by growing exports, productivity, or the birth rate.
So Washington, DC, deliberately extracts millions of migrants from poor countries and uses them as extra workers, consumers, and renters. This extraction migration policy both grows and skews the national economy.
It prevents tight labor markets and so it shifts vast wealth from ordinary people to investors, billionaires, and Wall Street. It makes it difficult for ordinary Americans to advance in their careers, get married, raise families, buy homes, or gain wealth.
The federal policy of Extraction Migration slows innovation and shrinks Americans’ productivity. This happens because migration allows employers to boost stock prices by using stoop labor and disposable workers instead of the skilled American professionals and productivity-boosting technology that earlier allowed Americans and their communities to earn more money.
This migration policy also reduces exports because it minimizes shareholder pressure on C-suite executives to take a career risk by trying to grow exports to poor countries.
Migration undermines employees’ workplace rights, and it widens the regional economic gaps between the Democrats’ cheap-labor coastal states and the Republicans’ heartland and southern states.
An economy fueled by extraction migration also drains Americans’ political clout over elites and alienates young people. It radicalizes Americans’ democratic civic culture because it gives a moral excuse for wealthy elites and progressives to ignore despairing Americans at the bottom of society, such as drug addicts.
Migration advocates admit their politics is a threat to Americans’ democratic society. “What the United States and many other democracies are experiencing is unprecedented,” said advocate Yascha Mounk. “Most democracies have historically been relatively monoethnic and monocultural, with most of their citizens sharing common cultural origins;” the German-born immigrant told the New York Times in October 2022.
The progressives’ colonialism-like economic strategy kills many migrants. It exploits the poverty of migrants and splits foreign families as it extracts human resources from poor home countries to serve wealthy U.S. investors.
Progressives hide this extraction migration economic policy behind a wide variety of noble-sounding explanations and theatrical border security programs. Progressives claim the U.S. is a “Nation of Immigrants,” that economic migrants are political victims, that migration helps migrants more than Americans, and that the state must renew itself by replacing populations.
Similarly, establishment Republicans, media businesses, and major GOP donors hide the skew towards investors by ignoring the pocketbook impact and by touting border chaos, welfare spending, migrant crime, and drug smuggling.
Many polls show the public wants to welcome some immigration. But the polls also show deep and broad public opposition to labor migration and the inflow of temporary contract workers into jobs needed by young U.S. graduates.
This “Third Rail” opposition is growing, anti-establishment, multiracial, cross-sex, non-racist, class-based, bipartisan, rational, persistent, and recognizes the solidarity that American citizens owe to one another.
SF Fed President: It’s ‘Not a Good Time to Be a Worker’ When Real Wages Fell 9% over Last Two Years
On Tuesday’s broadcast of “CNN Newsroom,” San Francisco Federal Reserve President and CEO Mary Daly stated that, despite rhetoric to the contrary, it’s “not a good time to be a worker,” because people are losing purchasing power and “real wages, adjusted for inflation, the average worker in America has lost 9% over the course of the last two years.”
Daly stated, “I want to say this to all your listeners, we have a dual mandate that Congress gave us of full employment and price stability. We are clearly meeting our full employment goal. We have a historically low unemployment rate. Anyone who wants a job can get several of them. But people only have 24 hours a day to work and seven days a week to do it in. And what people are really struggling with is, even with that work, even when it’s so-called a great time for workers, they are losing value every time they go to the store. Their purchasing power is falling. Some little-known statistic that I think is really worth bringing up, real wages, adjusted for inflation, the average worker in America has lost 9% over the course of the last two years. That’s not a good time to be a worker, right now, things are out of balance and we are committed to bringing them back in balance.”
Follow Ian Hanchett on Twitter @IanHanchett
Job Openings Plunge To Lowest Level Since Last Fall
Job openings fell by more than expected in August, a sign that the Federal Reserve’s efforts to cool the labor market may be working.
Openings fell to 10.1 million in August, the Labor Department said Tuesday. This is 1.117 million below the number of open positions in July, the largest drop on record apart from April of 2020.
Even with the drop, the number of openings is tremendously high. Prior to 2021, openings had never reached eight million.
This is the first time openings have fallen below 11 million since November 2021.
Economists had forecast 11.15 million openings. The prior month’s figure was revised down from 11.239 to 11.17 million.
The Department of Labor’s Job Openings and Labor Turnover Survey, known as JOLTS, has become a crucial barometer of the tightness of the labor market. The decline in openings brings the ratio of job vacancies to unemployed people down to 1.7 to one, a historically high level but well off the two to one ratio seen for most of this spring and summer.
The number people voluntarily quitting their job is also viewed as a measure of labor market strength since workers are more likely to leave when they have another job waiting or expect to easily find a new job. This rose to 4.16 million from 4.06 million, near the all-time high.
Federal Reserve Chairman Jerome Powell has said that he hopes to bring the number of openings down in order to contain inflation.
Biggest Food Stamp Hike Ever, Thanks to Bidenflation
Food stamp benefits are increasing by 12.5 percent as families grapple with grocery prices that have skyrocketed under President Joe Biden.
Under the maximum benefit, a family of four on the Supplemental Nutrition Assistance Program (SNAP) will see their payments increase from $835 to $939 per month.
The U.S. Department of Agriculture (USDA) noted the change would be implemented in October and last a year, CNN reported.
It is the largest annual percentage increase since the USDA’s implementation of the Thrifty Food Plan in 1975.
SNAP benefits are adjusted on what the Thrifty Food Plan determines a family of four can purchase on a healthy, low-budget diet. The benefits are updated annually based on the cost of the plan in June and take effect in October.
Since the cost of living has significantly jumped, SNAP benefits are increasing more than they ever have — in order to keep up with the high inflation that has occurred under the Biden administration.
While the increase in SNAP benefits is higher than the 11.4 percent rise in food prices since last year, grocery prices soared by a whopping 13.5 percent in August. Furthermore, food manufacturing executives do not expect grocery prices to drop anytime soon, Breitbart News noted.
This means that food stamp recipients’ purchasing power has eroded due to inflation, according to the Center on Budget and Policy Priorities (CBPP) via Forbes.
“When inflation erodes the value of SNAP benefits during the year, households either have to spend more of their cash income on food or cut back on their food expenditures,” Joesph Llobrera, CBPP director of research, wrote.
Mother and children bringing groceries home (Louise Beaumont/Getty)
Depending on the state, some food stamp recipients are still receiving a minimum of $95 in extra funds dues to the federal emergency SNAP allotment rolled out in April 2020 when most of the country was shut down due to the pandemic. However, the allotment will expire once the national emergency is declared over, which may occur at any point, the Associated Press reported.
Nearly 41 million Americans are on SNAP benefits, according to the most recent U.S. Department of Agriculture statistics. The average monthly payment for an individual is approximately $218.
You can follow Ethan Letkeman on Twitter at @EthanLetkeman.