I won't bother linking the article because it is behind a pay wall, but this is part of the reason we have a labor shortage. It isn't because Biden "created new jobs."
This is what you get when you print money, balloon the stock market, and make people feel wealth that is not really going to be there in the long run.
So people like @PaoliLion think we will make it up with "immigrants." Terrific. Exactly how does a person who cannot speak English and has no skills add enough real productivity to cover all of these new retirees? We have a very expensive education, social, and healthcare system in this country -- costs that cheap labor societies, where these people originate, do not have.
It won't add up. This is inflationary. People do not understand what happened to paper wealth in the 1970s. Except this time it will be worse. We are deliberately wrecking our energy industry and paying more interest on debt. And that will spiral if we don't attract foreign capital. So then the next question: Why would you invest here? Might as well invest where labor is cheaper and the people more educated.
This is what you get when you print money, balloon the stock market, and make people feel wealth that is not really going to be there in the long run.
So people like @PaoliLion think we will make it up with "immigrants." Terrific. Exactly how does a person who cannot speak English and has no skills add enough real productivity to cover all of these new retirees? We have a very expensive education, social, and healthcare system in this country -- costs that cheap labor societies, where these people originate, do not have.
It won't add up. This is inflationary. People do not understand what happened to paper wealth in the 1970s. Except this time it will be worse. We are deliberately wrecking our energy industry and paying more interest on debt. And that will spiral if we don't attract foreign capital. So then the next question: Why would you invest here? Might as well invest where labor is cheaper and the people more educated.
