Shenanigans to all that. Voters are not nearly smart enough to focus their attention on the major problems, or divine solutions to those problems. They are reflexively reacting directly to politics, and not economics or an understanding of legislation creation, or the dynamics of saving a financial system. This last one is how they can wonder what Obama has done for them economically, the reality of total collapse unseen and averted via methods they know not of. The blind (Brown) leading the blind.
I recall talking with a coworker about illegal immigration, and how some left leaning professors (redundant words I know) were offering cell phone devices to illegals so that they could better navigate difficult border crossings. My coworker's solution? Offer citizenship to anyone who comes over. She also made the argument that this would not encourage others to follow, and that these workers would continue to do the jobs Americans are unwilling to do.
Our response was that if you legalize every illegal person here, without attempting to stem the tide or restrict the numbers, a huge portion of Mexico would soon arrive on our doorstep. While the illegals coming across the border now seem like an unstoppable tide, offering legal status and citizenship would give the magnet of jobs a whole new power. Even those comfortable and wealthy Mexicans, comfy in Mexico City and other areas, would make the flight or road trip to pick up their new status. Live in Mexico, vacation in Denver.
Second, if you increase immigration to 20 million or 40 million Mexicans, you suppress wages in any industries they choose to enter. The reason Americans don't go into migrant farming, is because they don't like being treated like crap, and definitely don't like being treated like crap for a wage that you can't support a family on, and, they don't have the luxury of seeing their dollar performing above its pay grade back in Mexico.
But nevertheless, this was her solution to the problem of illegal immigration. "We will never get a wall built," she said, bowing to the political reality in her mind, and thus, "We might as well legalize them so that their income supports the tax base." And this was a very smart woman saying this.
In this world, there is no cost to accepting an infinite number of Mexicans, who, while paying taxes, are paying at reduced rates, from reduced salaries, while suppressing existing salaries of native citizens, and burdening the teetering health system with families that are larger than the standard American average. This, in a nation, that cannot finance the needs of its existing citizens that exists on a higher tax base without the help of Big Brother (the Chinese, and their surplus dollars).
That solution is an experiment worthy of much greater mental pondering.
I am sure many smart people went out to vote in Massachusetts. They voted for gridlock and know nothing-ism, and that's what they will ultimately get... nothing. No change whatsoever.
Other News:
- China will soon be the second strongest kid in class, knocking Japan down to third. Growth spurt creates much confidence. Strongest kid not overly concerned.
- Obama threatens to make banks less promiscuous. Or rather, to choose between being promiscuous or living in the house. Goldman, as we predicted a while back, will "get out of the house" and probably drop its bank holding status. When Goldman accepted that status, and when everyone was saying that everything is different now, we refused to wear the current fashion, knowing that Goldman will evolve to the form that best suits what it knows how to do. Human nature is constant. They may not make as much money without access to cheap government financing, but they were making money hand over fist without that. It's all judo to them.
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