pancakes3 wrote:stilldropin20 wrote:pancakes3 wrote:
coincidence between what? are you assuming that bc Trump is tweeting about immigrants that there's been substantive changes in immigration?
and what exactly do you think happened in 2008? what part of recovering from a recession can't you understand?
ok. simple question. do you or do you not believe in the time tested laws of supply and demand?
this is just more vague-posting and tweet-spamming, and continues to sidestep the issue (if there ever was one).
your original post was about jobs growth, and wanting to talk about jobs growth.
i asked what you wanted to say re: jobs
your replied with a post saying that immigration needs to be checked so as to protect jobs
i assumed then you wanted to talk about immigration, asked for you to clarify what your original post had to do with immigration
you then posted a vague screed about how immigrants are taking people's jobs, with irrelevant hypos and vague allusions to wage growth sprinkled in.
i then corrected your erroneous assertions re: the immigration process and asked you to clarify your point yet again
you came back with an insinuation that some time in the last 3 quarters, immigration policy has changed somehow to limit the supply of workers, and that is the reason for wage growth.
I replied that you're ignoring the fact that there's been steady wage growth since 2009, and no substantive changes to the number of border detentions or deportations - just an increase in emphasis by the president as a scare tactic. also that you don't seem to be focusing on the actual drivers of the american economy and instead fixating on the labor market, which was never in crisis.
and now you're pivoting to more vague posting about supply and demand, so I ask again - what is your point? the point that more people is bad? that less people is good? maybe. in a superficial, introductory level, yeah. but it took like 7-8 posts to pin you down and extract it from you, and that's only to get your assertion. you have no substance behind your stance - facts figures re: immigrant population changes, etc.
all you have is a basic premise that immigrants take american jobs, which is, again, a 5th grader's understanding of the issues - essentially parroting a South Park in saying DEY TOOK ERRRR JERBSSSS.
so yes. supply and demand curve, i'm familiar. decrease labor supply, increase employment demand. there is an equilibrium point where supply and demand is optimal. it's not at 0% employment. i've said that economists agree that the optimal unemployment rate is around 4%, which we are now. we are living in that world, and with respect to immigration policy, it does not require a wall, and it does not require detention of children or migrants.
but i don't really expect, or really want an answer from you. i just want you to realize just how exhausting it is to engage you in this thread. i want to convey to you how pointless your contributions are.
we've been averaging about 2% on wage growth over the past year. 3.1% in the past month.
I'm open to data points to show otherwise but with inflation tends to be around 4% annually. Ideally you want to see wage growth at least at keep up with that, right?...well it has NOT for the last 25 years. In fact unskilled and low skilled wages have been stagnant for over 25 years. This is widely known. I posted charts earlier in the thread on this topic to demonstrate stagnant wages for the bottom 90% of the population with an uptick over the past 6 months.
Real wage growth is important to you, i hope?
And you would want that wage growth to keep up with or even outpace inflation, i hope?
And perhaps most importantly we want to see wages of the bottom 90% increase...<--aren't these the most important wages since it represent our poorest and largest group of people at the same time? Thats who we really want to help, right?
So lumping the poor together with the elites to conjure up a generic "wage growth is kind of meaningless if the people at the top get all the raises and the people at the bottom get nothing, right?
So our best indicators of the economy are indeed unemployment and wage growth of the bottom 90-95% , correct?
I mean i really hope we are in about 100% agreement on this?
Where we may differ is how to get there? how do you propose to increase wages? Just give it away? minimum wage law? perhaps...and ive said so many times throughout all of these threads.
But...I prefer to...follow me here...wait for it....here it comes....decrease the supply side of labor...specifically unskilled labor. Even more specifically immigrant unskilled labor. They are hungrier and will work harder for lower wages than comfortable americans. We know this. its proven throughout time...and good on immigrants...nearly all of us or are families came here as poor immigrants and good on those immigrants for coming here and being hungry. Nothing wrong with being hungry and working hard! I'm all for it!
In decades past (up until 1980), we had a need as we had tons of manufacturing here. Immigrants and manufacturing created a massive middle class. But now those jobs have been becoming both automated and have moved overseas as well as competition in central and south america and canada. In the late 70's, massive financial investment into china began a cosmic shift of manufacturing from the US and into China.
Which has left a lot of american families on the sidelines for a few decades. Americans are left unmotivated to work for $7.25 per hour. Or even $11-15 per hour. Its a low wage and not really livable in any city. So american have elected for a life style of entitlements instead which (sadly) pay more money. Section 8 housing and money and food stamps for a fmaily of 4 pays about $40,000 per year (tax free). Thats a $30 per hour job to take home $40k!
So why are you struggling to take the leap that over saturation(aka over supply) of any given labor market suppresses wages in that labor market??? That's really odd. I guess the part you refuse to accept is that immigrants are saturating are already saturated unskilled labor labor market?? I'm not really seeing why you want to perform all of these mental gymnastics to come to understand something you already understand but refuse to concede: that any given labor market is subject to the laws of supply and demand just like anything else.
See...if only 15 people on the entire planet can make up an NBA roster at any given point then those wages will naturally rise and in fact rise so high that ownership will need to artificially suppress the amount that they can pay both rookies and free agents with specific wage guidelines. <--you can follow that part right? Conversely if nearly all 280 Million US citizens can (sweep up a floor) then those wages will be lower because anyone can do it...even 16 year old kids and immigrants who can and will work for much less than a father with 3 children.
So what if we needed 400 million street sweepers though? and we only had 280 million available. Wages would rise, correct? As corporation compete for the labor? Wages would naturally rise as various employers fight over street sweepers...not unlike the NBA free agency where we see GM's outbid each other. and often.
So the fact remains that the best way to get wages to rise....especially for the working poor...is to maximize employment to the max(low UE numbers) plus jobs growth!! Right!!?? We end up with virtual unemployment, right! and that what everything under 4% is right? and we've been under 4% for almost 1 year right? and during that years wage growth has spiked the highest in 22 years, right? (it has) pull the charts!
Wow!! its amazing right? its almost as if the laws of supply and demand still apply...even after 2000 years!!
And during the entire trump admin he has been curtailing immigration in respect to jobs demand...True...Trump is lewtting is more immigrants than obama....but trump has way lower UE rates and way more total existing jobs plus new jobs.<--thats why UE is so low!! Historically low!! when you look at available jobs vs. immigration...you will find that ratio at its highest in decades.
Trump could, instead...open the flood gates and allow massive immigration right now...in fact he could even promote it! We could spend money to bring in more and more caravans!! And in fact...GDP would grow even more than it is now...because right now we have more jobs available than qualified US citizens to perform those jobs.
But....BUT!!!! Would this help our working poor? Would this help existing poor american in the unskilled labor markets...more specifically would it help their wage growth??? No...in fact it would not...because there would not be a shortage of the supply of labor and instead an excess (or over supply) of labor. get it? There it is again! supply and demand!
And frankly this entire exercise of mental gymanstics is quite intuitive using very basic logic that simply follows the very basic laws of (again) supply and demand that we've known and understand for thousands of years...ever since the market was first cornered on the shekel a couple thousand years ago and modern banking as we know it was created.
Failing to see this logic is quite odd. Weird even. So odd and weird that you must be purposefully be "playing dense" to not see it. Or even more sinister...you do see it and you just dont care about existing working poor american wages. Which means you dont care about african americans because proportionately they make up the largest portion of poor and working poor people in the united states and by large margin. But I'm guessing that that is not your target. Or if it is you wont admit it. You target instead is what you think is trumps "hillbilly" base of unskilled labor that now has his approval rating at 50% according to rasmussen a couple days ago. But here's the question...daoneandonly, Nate33, indu, GOC, myself and maybe a couple other poster are the indentified trump supporters in this thread...do you think any of us are broke dick unskilled hillbillys? Or even working poor? Fact is trump's base is much smarter than you and most give credit for and understand these simple concepts quite well. They have been working as both skilled and unskilled labor on conctruciton sites for decades...and in kitchens around town...and in hotels...and in steel plants. they recall, 30 years ago...being paid $22 per hour starting wage for these jobs...that now have starting wages at 12-15 per hour and hire immigrants. Its real simple to them: get rid of the immigrants and the employer will be forced to pay them $25 per hour and up!
And i understand that you may not think it is that simple. Let me assure...as a builder...it is that simple...and i think i'm not only the only doctor in this thread? that employs a ton of female unskilled, slightly skilled and highly skilled labor? And I'm also the only builder/developer house flipper beside indu? So let me tell you what happens when the economy tanks. the credit markets close and builders with out cash stop building...and all the contractors get laid off. That's when i build...because i can get them to stay on my jobs and at a fair wage...But, when the economy picks back up...they get much higher wages elsewhere. why? supply and demand.












