Goldman Sachs to Joe Biden: Import Workers to Cut Wages by $100 Billion

[mystery-ak]

Goldman Sachs to Joe Biden: Import Workers to Cut Wages by $100 Billion

Neil Munro 24 May 2022

President Joe Biden should cut roughly $100 billion from Americans’ wages in one year by importing 2.5 extra million foreign workers, says Wall Street’s leading investment firm, Goldman Sachs.

After President Donald Trump’s migration cuts, “the substantial gap between the number of workers and the number of jobs …  has led to wage growth of 5 1/2% over the last year,” the firm complained on May 23.

“We have estimated that the [worker] gap would need to close by around 2 ½ million [extra migrants] to return wage growth to the 4-4½% range,” the report concluded.

The longed-for cut of 1.25 percent in Americans’ wages would take $137 billion from voters’ pocketbooks, each year, in perpetuity, according to data provided by another Wall Street firm, Moody’s Analytics.

Moreover, Goldman’s focus is on stock values. Those stock values are based on Wall Street’s predictions of future profits over the next 20 years. So Goldman’s one-year migration surge and one-year wage cut of $100 billion could boost stock values by about $2 trillion.

more
https://www.breitbart.com/immigration/2022/05/24/goldman-sachs-import-workers-to-cut-wages-by-100-billion/

[DefiantMassRINO]

We could start by importing foreign CEO's, Corporate Boards, and Executives ... to maximize returns for shareholders.

[Kamaji]

We could start by importing foreign CEO's, Corporate Boards, and Executives ... to maximize returns for shareholders.

They'd almost certainly work for less than the bloated pay packages many U.S. CEOs and high level executives get.

[cato potatoe]

Sometimes, capitalists are their own worst enemy. 

[DefiantMassRINO]

Goldman Sachs are bankers, not capitalists.

Capitalists build wealth.

Bankers are capitalism's kleptocratic parasites and locusts.  They don't create wealth; they only consume others' wealth, until there is nothing left to consume.

[IsailedawayfromFR]

Stop abortion in this country and we will have all the workers we need for the next generation.

This is highly correlative.