LibertyTurns
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We admit 0.3% immigration annually. Not. Enough to fuel economic growth.
Most of these (2/3) are chain migration. Not a good policy. Need a fairer system.
General Investing and Economics Discussion - No Politics
- Thread starter CuseJacket
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Most of these (2/3) are chain migration. Not a good policy. Need a fairer system.
Animal02
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Also need to stop the anchor baby nonsense.
LibertyTurns
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Well here’s today’s numbers and some historical guideposts:
A. Worst NYSE advance decline in history
B. Similar cases in 2010, 2011, 2016, 2018 S&P was up an average of 5% a week later
C. 10-2 yield curve improved
D. Every case since 1950, when Monday down more than 2% and there were 3 down sessions >.7% the previous week, 14 days later the market is positive 100% of time, avg gain 6%
E. Closed today near 61.8% Fib retracement of June rally
F. SPY vs TLT at critical ratio
G. S&P still above the 200 day
Is this a bearish breadth thrust? We may know by the end of the week.
A. Worst NYSE advance decline in history
B. Similar cases in 2010, 2011, 2016, 2018 S&P was up an average of 5% a week later
C. 10-2 yield curve improved
D. Every case since 1950, when Monday down more than 2% and there were 3 down sessions >.7% the previous week, 14 days later the market is positive 100% of time, avg gain 6%
E. Closed today near 61.8% Fib retracement of June rally
F. SPY vs TLT at critical ratio
G. S&P still above the 200 day
Is this a bearish breadth thrust? We may know by the end of the week.
I worked for a similar company straight out of college and can assure you they have more open CS positions than qualified applicants. We are leaving money on the table not bringing in more people to fill those roles. More employees = more features = more money. Not to mention all the income taxes (and non-income taxes; food, restaurant, bar, general services) immigrants pay.
I have tech recruiters (contracted and permanent HR teams) in my LinkedIn inbox daily begging me to interview for their teams with promises of $130,000 salaries (Atlanta metro area) and I have less than 4 years of professional experiences. We are soooooooo in demand and the supply is still ridiculously low (though that's changing - you're seeing everyone and their cousin taking part in "coding bootcamps" nowadays that can instantly propel them to 6 figure salaries).
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Animal02
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In the mean time, you have companies like Disney replacing workers with cut rate ones from overseas by abusing visas.
Animal02
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If Disney is cutting American workers to replace them with overseas workers, I would stay very far away from Disney stock. There are many tech companies who are supplementing American workers with overseas workers because it's making them more productive and a lot more money increasing their employee count.
Techster
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I always set aside a small portion of my investment allocation every month to fund a "opportunistic" war chest. Monday was glorious.
LibertyTurns
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The week is not over but it looks like if you played the odds you’re a winner. We’ll see what tomorrow brings.
LibertyTurns
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And with impeccable timing strolls in the Maniac who lobs another hand grenade at the stock market he cherishes preciously.
Orange Man bad today. No bueno.
Milwaukee
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Anyone else buying Penn National Gaming stock yet?
GT_EE78
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guess posting here is as close as i can find ...
is anyone else irritated that 16 of the biggest banks can steal nearly a $Billion and it gets so little media attention??
Pennsylvania Treasurer Joe Torsella first filed the lawsuit in March against 16 of the nation’s largest banks, for colluding to fix prices of Fannie Mae ( FNMA) and Freddie Mac ( FMCC
) bonds — government-sponsored entity instruments — between 2009 and 2016
Assuming classwide damages of $857 million, the total recovery of $386.5 million represents nearly 59% of the 16 defendants’ proportionate share of single damages, Torsella said.
https://eresearch.fidelity.com/eres...00016f-19b0-d13f-ab6f-7ff150e10000_110.1&sb=1
is anyone else irritated that 16 of the biggest banks can steal nearly a $Billion and it gets so little media attention??
Pennsylvania Treasurer Joe Torsella first filed the lawsuit in March against 16 of the nation’s largest banks, for colluding to fix prices of Fannie Mae ( FNMA) and Freddie Mac ( FMCC
) bonds — government-sponsored entity instruments — between 2009 and 2016
Assuming classwide damages of $857 million, the total recovery of $386.5 million represents nearly 59% of the 16 defendants’ proportionate share of single damages, Torsella said.
https://eresearch.fidelity.com/eres...00016f-19b0-d13f-ab6f-7ff150e10000_110.1&sb=1
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Well they've also been getting a daily bailout of tens of billions that has added up to TRILLIONS since late last summer via the Fed and its repo purchase program. (About $2.3T is a guess based on the chart in this article.) https://www.bankrate.com/banking/federal-reserve/why-the-fed-pumps-billions-into-repo-market/
That's a massive bailout.
armeck
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Trump is an American because of chain migration.
https://www.forbes.com/sites/stuart...donald-trump-is-a-product-of-chain-migration/
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Did you read the article? Trump is an American by birth. You can’t go back in history and say if these 11 things had happened differently...then...
Second, it’s not the chain migration itself that is the problem, it’s the abuse of it where anchor babies and DACA folks and other loopholes then enable even more people to come in.
armeck
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I should have written more words. He was able to be born an American, because his ancestors were allowed to take advantage of chain migration. I find it ironic that he seems to dislike a system that allowed him to be luckily born here. If his proposed policies were in place, his grandparents would have never been allowed in the country.
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It’s not the system he dislikes, it’s the abuse of it.
I may be here because someone broke the law or snuck in a long time ago - who knows. That’s irrelevant as to if I can have an opinion and if I can work to stop similar abuse or not (even if it was abuse). Based on that article, I didn’t read any abuse of the system. I suspect there are tons of people with similar circumstances. That doesn’t negate the ability or need to improve the system.
armeck
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It wasn't an abuse of the system, it was simply the system. That system works the same way now. I said I found it ironic that what was ok in the past is now not ok in the present, specifically because the man railing against it owes his presence here to the usage of the system. Remember this isn't illegal immigration - crossing the desert at night or overstaying visas - this is the legal system that has been in place for ever and served us well.
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Well that’s simply not true. Being born in the US makes you a citizen and it’s always been that way. But that’s absolutely been abused by people too. It doesn’t appear to me that the Trumps who immigrated here in the 1800s broke or abused any rules, but I could have read that article wrong.
Edit: I will also add that we always reserve the right to change our immigration policies as we see fit at any time of our choosing to benefit the United States. That means sometimes we need more immigrants, sometimes less, and sometimes different skill sets.
LibertyTurns
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That’s arguable but the basic point remains, we need more immigrants. Fix the system, let more people in legally, etc and speed the process up so it doesn’t take 2 decades to get an answer. We need probably 5-6 million immigrants per year on top of what’s already here illegally. Amnesty plus fixes would do the trick.
Oh forgot, kick the lawbreaking illegals out asap and the ones with violent priors.