THE DOCTRINE OF THE N.A.F.T.A. GLOBALIST DEMOCRATS IS TO SERVE THE BILLIONAIRE CLASS WITH ENDLESS WAVES OF INVADING 'CHEAP' LABOR SUBSIDIZED WITH WELFARE FUNDED BY TAXES ON MIDDLE AMERICA.
In many speeches, Mayorkas says he is building a mass migration system to deliver workers to wealthy employers and investors and “equity” to poor foreigners. The nation’s border laws are subordinate to elites’ opinion about “the values of our country,” Mayorkas claims.
When even the biggest online retailer in the world starts the year by cutting tens of thousands of jobs due to a rapidly deteriorating economic environment, then you know that the outlook for 2023 is a whole lot uglier than we could’ve imagined. In fact, Amazon's CEO just announced that incoming layoffs will be nearly 50 percent higher than previously estimated as the company grapples with slower growth, declining sales, plummeting profits, and a grim stock market performance. Fears of a severe downturn are stirring the e-commerce giant to aggressively cut costs in preparation for even tougher circumstances for businesses in the months ahead. Consumers are seeing their purchasing power evaporate while interest rates rise and unemployment rates start to climb once again. What we’re about to face next may come as a shock for many Americans.
Amazon’s new CEO, Andy Jassy, who took over the role in July 2021, is in an aggressive cost-cutting mode as the company confronts the compounding effects of four quarters of disappointing results, slumping sales across the board, and a gloomy economic landscape for 2023. On Wednesday, the executive announced that Amazon is cutting over 18,000 jobs, almost 50% higher than its December projection that around 10,000 positions would be slashed. The looming job cuts represent the single largest number of layoffs announced by an online retailer since the industry began aggressively downsizing last year.
The current trend of belt-tightening has raised questions amongst investors about whether the financial problems faced by the online retailer in the past few quarters will persist as the recession accelerates. In the fourth quarter, Amazon disappointed Wall Street with a holiday season forecast that woefully missed analysts’ expectations. The company’s stock fell about 20% after releasing its earnings outlook. And its stock closed the year 50% lower than at the beginning of 2022.
Analysts say Amazon is on pace for its worst year since 2008 when it dropped 55%. The only other year that was worse was during the dot-com crash of 2000 when the company lost 80% of its value. And many big companies are also having to implement sobering cost-reducing measures to brace for the challenges that are right at our door. In recent weeks, a number of CEOs have been admitting that they failed to accurately access consumer demand, and now they’re watching their rosy projections turn darker and darker. Even Goldman Sachs revealed plans to layoff up to 8% of its staff in the first half of January, a person familiar with the matter told Insider in December. "We continue to see headwinds on our expense lines, particularly in the near term," Goldman Sachs CEO David Solomon said at a conference last month. Morgan Stanley and Citi Bank are also planning to cut roles this year.
According to data cited by the Wall Street Journal from Layoffs.FYI, a site that's been tracking layoffs since the start of the pandemic, tech companies alone slashed more than 150,000 in 2022 — compared to 80,000 in 2020 and 15,000 in 2021. And the latest job cuts report from employment firm Challenger, Gray & Christmas showed overall, layoff announcements surged a whopping 649% from 2021 levels, and they are likely to climb even higher in the months ahead. 2023 is set to be a “hungover” year after the pandemic downturn, and the past couple of years of inflation growth. Sooner or later, six-digit layoffs will start being reported. Unfortunately, these job cuts mean that our population will suffer immensely for yet another year.
For more info, find us on: https://www.epiceconomist.com/
Mobilize the working class against the jobs massacre at Amazon and other industries!
The announcement by the technology and e-commerce giant Amazon that it will lay off 18,000 workers in the US must be met with a counter-offensive of the working class in defense of jobs and living standards.
Amazon CEO Andy Jassy, who took over from centi-billionaire Jeff Bezos in 2021, announced the layoffs on Wednesday following an internal employee leak. He blamed “an uncertain economy” and rapid hiring during the pandemic for the layoffs, which are concentrated in retail positions at Amazon Stores and human resource positions.
General scenes at the Amazon Fulfillment center in Robbinsville Township, N.J., Tuesday, Aug. 1, 2017. (AP Photo/Julio Cortez)
Feigning sympathy for the workers affected, Jassy stated, “We don’t take these decisions lightly or underestimate how much they might affect the lives of those who are impacted.” He added that the job cuts would enable the company to pursue “long-term opportunities with a stronger cost structure”—that is, they will increase corporate profits.
Amazon’s job massacre is the latest in a brutal counteroffensive by the corporate and financial aristocracy against the demands of workers for better wages and working conditions, including at Amazon warehouses. Even as workers are made to pay for the economic crisis, the net worth of Amazon Chairman Jeff Bezos, one of the richest people on the planet, remains over $100 billion.
News of Amazon’s job cuts follows a series of mass layoffs at technology companies. According to TrueUp’s tech layoff tracker, technology companies carried out 1,517 layoffs in 2022 that resulted in 237,874 jobs lost, including at tech giants Meta (Facebook) and Netflix and at hundreds of tech startups. This is a staggering 1,800 percent increase in job cuts from 2021, when 13,000 jobs were cut. The largest round of layoffs took place in November, including at Twitter, where billionaire sociopath Elon Musk carried out a brutal purge of over 70 percent of the workforce.
Adding to the jobs bloodbath in the first week of 2023, Salesforce announced it would cut over 10 percent of its workforce, or over 8,000 employees.
But the jobs massacre is not limited to the tech sector. Layoffs are threatened in the manufacturing sector as well. The multinational auto company Stellantis announced that it could idle multiple plants this year, part of a global restructuring in the auto industry. This week, Stellantis CEO Carlos Tavares bluntly stated that the company will cut costs to “absorb the additional cost of electrification,” adding that “If the market shrinks, we don’t need so many plants.” He said ominously that “unpopular decisions will have to be made.”
The developing assault on jobs is a part of a conscious policy by the ruling class, spearheaded by the Biden administration. Responding to the surge in inflation over the past year, the US Federal Reserve and other central banks internationally have raised interest rates at the sharpest pace since the early 1980s. The explicit aim is to drive up unemployment so as to force through massive cuts in real wages.
Commenting on the December jobs report, released on Friday, which showed a “cooling” in hiring, the New York Times stated that the “mismatch between supply and demand, particularly in the service industries where compensation drives prices, has continued to heat up wage growth faster than the Federal Reserve would like to see. The Fed’s program of interest-rate increases is meant to cool the labor market, and with it, the climb in wages.”
The Times stated blithely that the Fed is aiming to increase unemployment to a level that “equates to roughly one million jobs lost.” That is, the Federal Reserve, acting on behalf of the financial aristocracy, is seeking to create a social catastrophe to force workers to accept poverty-level wages.
A recent report by the International Labour Organization (ILO) found that real wages for workers in the United States and Canada declined by 3.2 percent in the first six months of 2022. For the ruling class, this is considered a good start, but far from enough.
The surge in inflation, which has had a devastating impact on the living conditions of workers throughout the world, is itself the product of more than a decade of free-money policies by global central banks to fuel the speculative mania in financial markets. The resulting price inflation has been compounded by the impact of the US-NATO proxy war against Russia and the ruling class response to the pandemic on global supply chains.
The raising of interest rates has particularly impacted the technology companies, which have relied on easy money and Wall Street speculation to fuel their growth over the last decade. With the tightening of monetary policy, major technology stocks and cryptocurrencies fell by over 28 percent in 2022, including some of the biggest declines since the dot-com collapse. Amazon stock fell by 51 percent last year, the largest drop since 2000, when its stock price collapsed by over 80 percent.
While interest rate hikes may dampen the profits of the corporations and induce a global recession, it is a sacrifice the ruling class is willing to make to ensure that workers’ demands for higher wages are suppressed.
Their aim is to place the full burden of the escalating economic crisis on the backs of the working class, under conditions where corporate profits soared to a record high of $3 trillion in the second quarter of 2022 and $2.9 trillion in the third quarter.
Urgent action is needed to stop the layoffs at Amazon and other companies! The fight against layoffs must be connected to the fight for a massive increase in wages to meet soaring inflation.
A counter-offensive requires the development of rank-and-file committees, democratically controlled by the workers themselves and independent of the trade union apparatus, at Amazon and other companies. Over the course of the past year, the working class has begun to fight back, with major strikes and protests throughout the world. Workers have been held back, however, by the pro-corporate trade union apparatus, which has worked to suppress opposition and impose one contract after another with cuts in real wages.
Following the announcement of the Amazon job cuts, the organizations vying to unionize Amazon workers have so far said nothing about the latest assault on jobs, including the Teamsters, the Retail, Wholesale and Department Store Union (RWDSU), and the Amazon Labor Union (ALU).
The Biden administration has sought the services of the corporatist trade unions, including the RWDSU, not to improve the conditions of Amazon workers, but to suppress their opposition to layoffs, poverty wages and speedup, just as the Democrats did against the rail workers’ struggle last year. The same process is being replicated internationally, including in the UK and other countries that are seeing a growing rebellion of the working class.
In opposition to the reactionary nationalism of the trade union apparatus, Amazon workers and all other workers in the US must unite their struggles with the growing movement of workers internationally, who confront the same conditions and the consequences of the same ruling class policy. The tech layoffs in the US are part of an international restructuring that spans Europe and Asia.
The Socialist Equality Party and the International Committee of the Fourth International initiated the formation of the International Workers Alliance of Rank-and-File Committees to coordinate and unify the struggles of workers in the United States and throughout the world.
The development of an industrial counter-offensive of the working class must be connected to the building of a mass political movement of the working class against the Biden administration, the two big business parties in the US and every capitalist government in the world.
The ruling class is responding to the crisis of capitalism with an increasingly brutal assault on the working class. For millions of people, capitalism has nothing to offer but mass death from an intensifying global pandemic, mass unemployment, world war and increasingly dictatorial forms of rule.
The working class must respond through the building of a socialist movement, the aim of which is the conquest of state power by the working class, the expropriation of the massive fortunes of the rich, the transformation of the giant corporations into public utilities, and the reorganization of the economy on the basis of social need, not private profit.
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INSOLVENT BANKS FAILURE ANNOUNCEMENT COMING? FDIC PREPARING FOR PUBLIC STATEMENT
The U.S. retirement savings crisis is not on the horizon — it's already here, and the middle class is going to be decimated by it. The erosion of incomes in America is ultimately going to deteriorate the quality of life of millions of middle-class workers when they reach retirement age, and according to a new study, almost half of them are at risk of falling into or below the poverty line. Over the course of many decades, middle-class Americans have been induced to believe that our current retirement system can provide the security and stability they need when they reach their golden years, but that can’t be farther from the truth.
Just like food and housing, retirement is a necessity. Eventually, we’re all going to get to the point where we can’t work anymore, and society tells us that it is our duty to make arrangements for when that happens because, at some point, we will no longer be able to earn an income. However, the cost of retirement has risen exponentially, and middle-class Americans are going to be disproportionally impacted by this looming crisis. A new report released by Economic Policy Research found that the percentage of pay middle-income earners have to save to finance an adequate retirement has ballooned over the past two decades.
Research shows 31% of middle-income Americans are reportedly saving money for their future, of those only 9% of middle-income workers save 15% or more of their income for retirement, according to Pew Research Center data. At the same time, 42% are not currently saving for retirement. Meanwhile, 27% of middle-class workers have empty nest eggs. No wonder why a quarter of them expect to never retire, according to the Cuna Mutual Group 2022 Middle-Class Survey.
Against this background, a recent study by the Schwartz Center for Economic Policy Analysis at the New School has uncovered that nearly half of middle-class Americans will face a slide into poverty as they enter their retirement. The paper exposed that roughly 40% of Americans who are considered middle-class will fall into poverty by the time they reach age 65, while an additional 8% are likely to fall below the poverty line.
Our society makes us believe that only through financial discipline and individual effort we will be able to enjoy our senior years without major concerns. But the retirement crisis in America is less due to personal failure than structural failures. At the end of the day, savings are not the root of the problem with our retirement system. The main problem is that our wages have been steadily dropping for decades.
Corporations have been largely hoarding profits, giving CEOs generous bonuses, and barely readjusting what they pay to their employees so that their salaries can keep pace with inflation. While corporate executives have seen their pay skyrocket by 876% in the past forty years, our salaries have increased by just 41% over that same span.
Government policies and the underfunding of Social Security are a clear demonstration that authorities aren’t taking care of people’s interests. Instead, they’re making life harder for many of us. The mere mention of the idea that corporations should be held responsible for the impact they have on the lives of the 99% can make the elites hysterically complain that this is an attack on “wealth creators.” But what does that make the rest of us? If only we could impose the same kind of financial discipline on corporate executives and government leaders as we do on the middle class, then we would have a real answer to the retirement problem.
For more info, find us on: https://www.epiceconomist.com/
Shocking New Data Shows Economy is Crashing Faster Than We Thought and Headed Towards a Hard Landing
So Democrats in Congress helped Democrats in the White House smuggle roughly 2.2 million southern migrants over the southern border, and also to supercharge the transfer of legal migrants and visa workers into U.S. jobs. “The issue of immigration is how do we make sure that companies and businesses have the opportunity to employ people,” labor secretary Marty Walsh said in December. NEIL MUNRO
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35 Signs That Prove That The Working Class Is Being Systematically Wiped Out
Joe Biden’s media supporters keep assuring us that things are getting better with the economy. However, Joe Hoft, founder of Gateway Pundit, wrote on New Year’s Day of the reality—we are in a recession. Stop drinking the “we’re OK” Kool-Aid.
Biden, with help from the Federal Reserve and Congress, wiped out $10 trillion in American wealth in 2022. This is record-breaking destruction.
Steve Bannon at War Room rolled out a Financial Times chart from earlier in the week showing what an outlier 2022 was when compared to prior years.
The US should be in the right upper quadrant of the chart, but 2022 put the US in the left lower quadrant. The 2022 situation doesn’t even factor in the effect of the 1.7 trillion omnibus spending bill. The data point on the chart reflects the value of assets in stocks and bonds, with no effort to measure other assets like real estate. It might be worse if other economic measures are considered.
Just the other day, the St. Louis Federal Reserve Branch, relying on multiple indicators, declared that we have a recession. This information is no surprise, but it raises questions about what’s happening at the rest of the Fed’s branches.
In the real world, loss of asset value is a measure of prosperity or recession. While we once asked whether we could trust public health authorities (the answer is “no,” in case you were wondering), this year’s question is whether you can trust the financial “authorities” when they talk about mild recessions and point to job numbers that are buffed up by double counting people with more than one job, even as they ignore that workforce participation has declined. The workforce participation number is down because of the economy and because people are living on government handouts.
Only the impaired and dysfunctional would not be aware of the economic downturn—people with no connection to the economy and no savings who don’t even shop for food or buy goods and services, don’t have a car, and don’t travel. No wonder Americans are walking around wondering what happened to their net worth.
A country in decline usually suffers from self-inflicted wounds, and those wounds may be severe, even fatal.
LAYOFFS SWEEP ACROSS THE NATION! BED BATH & BANKRUPT, STOCKS SELL-OFF, CONSUMER BROKE, REALITY CHECK
'credit card' joe biden has always been wall street and the banksters' rent boy.
45. The American ruling class responded to the 2008 economic and financial meltdown with a bailout of Wall Street. The national debt was doubled virtually overnight to finance the purchase of hundreds of billions of dollars in speculative assets by the Federal Reserve. This was repeated on an even greater scale in 2020 during the initial months of the COVID-19 pandemic, propelling share values to record levels amidst mass death and social misery.
ALL TECH BILLIONAIRES ARE DEMS FOR OPEN BORDERS TO KEEP WAGES DEPRESSED. Is it working???
Tech Layoffs Continue: Woke Software Giant Salesforce to Lay Off 8,000 Employees
Salesforce, a software giant with a notoriously woke CEO, plans to lay off around 10 percent of its workforce, which would come to about 8,000 employees. It is the latest layoff by one of the Silicon Valley Masters of the Universe.
Salesforce, the largest private employer in San Francisco, has decided to shut down a number of offices, saying the company has grown too much during the Chinese coronavirus pandemic, according to a regulatory filing obtained by San Francisco Chronicle.
Salesforce chairman Marc Benioff (AP Photo/Darron Cummings, File)
“As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that,” the notoriously left-wing CEO of Salesforce, Marc Benioff, wrote in a letter to employees.
“The environment remains challenging and our customers are taking a more measured approach to their purchasing decisions,” Benioff added.
The job cuts are “another blow to the city’s struggling downtown core and office market, where vacancy is a record high 27%,” San Francisco Chronicle noted.
The cloud computing giant laid off hundreds of salespeople late last year. Additionally, some top executives are also leaving, such as co-CEO Bret Taylor, who will resign at the end of the month. Slack CEO Stewart Butterfield is also leaving Salesforce this month.
In September, Benioff threatened to pull his software company’s operations out of Republican-run states if their policies do not align with his liberal worldview, specifically regarding abortion.
Last year, following the events of January 6, 2021, Salesforce — which was also the company behind the RNC’s email provider — had prevented then-President Donald Trump and Republicans from using “our services in any way that could lead to violence.” The Trump campaign was then banned from being able to send emails.
In 2020, Benioff stood in stunned silence for ten seconds after being asked a question about his company’s lack of policy on political tolerance and viewpoint discrimination at Salesforce’s annual investor meeting.
E-commerce giant Amazon has revealed that it will be laying off more than 18,000 employees in the coming months, the largest headcount reduction at a tech firm in the past year. The layoffs will impact about five percent of the company’s corporate workforce.
The Wall Street Journal reports that in a recent announcement, Amazon stated that it will lay off more than 18,000 employees in the coming weeks, representing the highest number of layoffs at a major technology company in the past year. The layoffs will primarily affect the company’s corporate ranks, impacting about five percent of that workforce and 1.2 percent of Amazon’s overall workforce of 1.5 million as of September. The cuts will be concentrated in the company’s devices business, recruiting, and retail operations.
(Photo by Scott Olson/Getty Images)
In a blog post addressing the layoffs, Amazon CEO Andy Jassy said, “Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so.” He added that most of the cuts will be in the retail and recruiting areas of the company.
Many tech companies have had to make job cuts as the economy has soured, with Amazon’s layoffs of over 18,000 employees representing the largest number of people laid off by a tech company in recent months, according to Layoffs.fyi, a website that tracks such events as they surface in media reports and company releases. Other companies that have announced layoffs include Facebook, which is cutting more than 11,000 workers or 13 percent of its staff, and Lyft, HP, and Salesforce.
Amazon enjoyed massive growth during the coronavirus pandemic, with customers flocking to online shopping and pushing the company’s various businesses, including e-commerce, groceries, and cloud computing, forward by years. Amazon doubled its logistics network and added hundreds of thousands of employees in order to keep up with demand.
However, as demand began to wane and customers started to return to in-store shopping, Amazon initiated a cost-cutting review to pare back on unprofitable units. This included targeted cuts in the spring and summer, such as shutting physical stores and business units like Amazon Care, as well as a company-wide hiring freeze.
The news of the layoffs sent Amazon’s stock down 1.1 percent in Thursday morning trading to $84.19, with the stock down 49 percent over the past 12 months. Despite the current economic uncertainty, Amazon’s CEO remains confident in the company’s ability to weather the storm, stating in his blog post, “We will continue to invest in the things that drive long-term growth.”
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan
DEPORT MAYORKAS BACK TO CUBA AND DROP OFF JOE AT GITMO!
AZ official's dire prediction on Cartels as border container wall is dismantled.
Rents are rising because real estate companies are trying to please investors, says a Washington Post report that ignores the economic impact of President Joe Biden’s open borders policy.
The January 2 article focused on rising rents at apartments owned by Starwood Capital Group:
At Starwood’s Estates at Wellington Green in Palm Beach County, Fla., the company raised some rents by as much as 52 percent in 2022; at the Griffin Apartments in Scottsdale, Ariz., it increased them by 35 percent over the same period. At the Cove at Boynton Beach in Florida, it boosted rents on some units by as much as 93 percent in 2022.
…
Edgar Enrique, a pool cleaner from Guatemala who shares with his wife a one-bedroom at Starwood’s Reserve at Ashley Lake, said his rent jumped from $1,600 to $2,000. “For me, it’s not good,” Enrique said. “Why does it cost $400 more now?”
The rents are rising fast because investment executives are pushing to maximize their companies’ profits, the Post reported:
Some families said they were forced into difficult downsizings: Couples with children moved from two-bedroom to one-bedroom apartments even though, as one father said, “we’re tripping over each other.” Another family with three children had a two-bedroom at the Reserve at Ashley Lake. A few months ago, they got a notice that the rent would be rising from $1,600 to $2,000 per month, they said. They moved in with a family member. “We’re trying to save to get out of the cycle,” said the father, an immigrant from Haiti who sells life insurance.
The article downplayed the impact of Biden’s border policy and instead sought to focus all the blame on real-estate companies.
Since January 2021, Biden’s migration has added at least 4 million southern migrants to the United States population, not counting at least two million legal immigrants and visa workers. Assuming six people per apartment, that’s an extra demand for roughly 700,000 apartments in two years when only 800,000 new apartments were completed.
Housing industry groups recognize — but downplay — the link between migration and rents.
“Rising rents are largely a byproduct of limited supply and high demand across the rental market,” said a July 2022 op-ed in the Washington Post by Robert Pinnegar, the president and CEO of the National Apartment Association in Arlington, Va.
An August 22 report by the apartment association lamented the slowdown of migration by President Donald Trump:
Immigration was already on the decline prior to the pandemic, noticeably tapering off in 2017. By 2019, immigration was nearly half the level of 2016 when it was over 1 million persons. The pandemic further crushed that figure, and in 2021, just 245,000 immigrants entered the U.S. Although the new administration has put several policies in place to improve immigration, it has been slow to return …
…
In the upside scenario, … immigration rates increase to recent highs, or about 1.2 million per year. This would provide both a higher level of minorities and younger people to the population base. In this scenario … the strong population growth leads to demand for 4.8 million units, or about 344,000 per year.
“I think this is the strongest real estate market I’ve seen in 30 years, 35 years,” Starwood founder Barry Sternlicht said in early 2022.
“We’re in a position now where occupancy is extremely strong and we are pushing rents,” a Starwood executive told a real-estate event, the Post reported.
Starwood rejected the Post‘s investor-focused blame, saying in a statement that: “We would not have been able to grow and maintain our portfolio at this size if we acted differently than any other landlord in this space.”
A view of houses in Los Angeles, California, on July 5, 2022. While two years of a booming U.S. housing market brought wealth to many, a shortage of housing is making home ownership unaffordable for millions of Americans with prices up more than 30% over the past few years and interest rates rising. (FREDERIC J. BROWN/AFP via Getty Images)
Academic research says immigration drives up rents — and also spikes housing prices in nearby locations as Americans flee from the civic impact of the new migrants.
“Using data that span from 2002–2012, we find, as have others, that immigration inflows are associated with rising rents and prices,” according to a March 2017 study of almost 300 “Metropolitan Statistical Areas (MSA), titled “Immigration and housing: A spatial econometric analysis.” The summary reported:
An increase in the number of immigrants equal to 1 percent of an MSA’s total population was linked with a 0.8 percent increase in rents and a 0.8 percent increase in home prices.
This same increase in immigrants was associated with a 1.6 percent rise in rents and a 9.6 percent rise in home prices in surrounding MSAs.
As immigrants move into an MSA, natives tend to move to surrounding MSAs, indicating that the spillover effects may be driven by native-population movements.
Immigrants now comprise roughly 14 percent — or one-in-sex — of all residents in the United States. That inflow has helped to spike rents and housing costs in California and other coastal states, especially when politicians and builders jointly roll back suburban zoning rules.
“Rents are simply about supply and demand,” said Andrew Good, a director at NumbersUSA. He added:
Not only is it not a secret, but industry reports say the truth out loud: It is beyond dispute that today’s demand is driven by our loose borders … Rent-raising companies are just following the market that Congress created. It will continue until voters put their foot down.
The combination of rising housing costs and decades of flatlined wages is also pushing many people to crowd into overcrowded housing. The New York Timesreported in August 2020 about poor migrants trying to live near their service-sector jobs in California’s Silicon Valley during the coronavirus crash:
There were 12 people in three bedrooms, with a bathroom whose door frequently required a knock and a kitchen where dinnertime shifts extended from 5 p.m. well into the evening.
Karla Lorenzo, a Guatemalan immigrant who cleaned houses in San Francisco and Silicon Valley, lived in the big room along the driveway. Big is a relative term when a room has five people in it. She and her partner, Abel, slept in a queen-size bed along the wall. There was a crib for the baby at the foot, with the older children’s bunk bed next to that. The other housemates had similar layouts.
The rising rents and shrinking salaries are also helping to spike the number of homeless Americans.
Since 1990, the federal policy of Extraction Migration is pulling in more migrant renters, workers, and consumers, and has repeatedly been defended by the Washington Post, which is owned by Jeff Bezos, founder of the Amazon retail empire.
This open-borders policy reverses the low-migration, high-wage policies set by President Donald Trump — and the reversal helped cause a massive run-up in stock prices when Biden was elected.
For example, Mid-America Apartment Communities Inc. was worth $134 per share in January 2021 when Biden was inaugurated. It spiked to $229 per share 12 months later, before falling to $156 in January 2022 amid rising interest rates. But the company’s January 2021 to January 2022 rise-and-fall still left it up by 16 percent amid two years of high migration.
Similarly, Starwood’s stock value doubled from October 2020 to June 2021 — but then dropped by 27 percent in January 2022 amid higher interest rates. That rise and fall back to January 2021 levels matched other apartment investors, such as Avalon Bay, and Equity Residential.
“Increased immigration will be key to sustaining apartment demand in these areas over the coming decades,” said the report by the apartment association.
