Staff Reports
Alright kiddos, buckle up for a wild ride through the jungle of migration madness! So, this fella Kashkari from the Federal Reserve Bank of Minneapolis is sounding the alarm bells louder than a firetruck on the Fourth of July. He’s pointing fingers at ol’ Joe Biden, saying that the flood of migrants pouring into the country is turning the mortgage rates into a rollercoaster ride that young couples and families just can’t seem to get off.
Fed President: Migration Boosts Mortgage Rates https://t.co/rrRdFOGa7I via @BreitbartNews
— 🇺🇸 Mama Wanda 🎗️ 🇺🇸 (@homesteadlady) May 8, 2024
It’s like this massive game of musical chairs but instead of dancing around, everyone’s scrambling for a place to call home sweet home. And guess what? That scramble is pushing those mortgage rates higher and higher, making it harder for folks to snag their slice of the American dream. Kashkari thinks all these migrants needing roofs over their heads are driving up the demand for housing, which in turn is making those rates zoom sky-high.
To add more fuel to the fire, the Federal Reserve is cranking up interest rates faster than you can say “hot potato.” They’re trying to cool off the sizzling inflation that’s been cooking up thanks to Uncle Sam’s deep pockets. Since Biden’s crew started importing people like they’re going out of style, the prices of houses, used cars, and just about everything else have been sky-rocketing. Even wages are taking a hit as there’s a buffet of labor flooding in from across the border.
Now, hold onto your hats, boys and girls, ’cause things are getting even wilder. The International Monetary Fund is chiming in, saying that these newcomers are all about consuming and spending as soon as they set foot on U.S. soil. It’s like they’ve got an ‘open for business’ sign hanging from their backpacks, fueling the hunger for goods and services like used cars and rental housing.
But wait, there’s more! The big shots like Larry Fink from BlackRock are eyeing this migration mess and thinking, “Hey, maybe we can ditch the human workers and go all-in on robots and fancy tech stuff.” They reckon that might just be the golden ticket to boosting productivity and living standards, especially if folks in the workforce keep getting squeezed by all these new faces.
So, why are the Democrats gung-ho about welcoming in these folks? Well, according to Biden himself, migrants are the secret sauce that makes the economy shine. But not everyone is cheering in the stands. Some folks are saying this whole influx of people is like a magic trick with a disappearing act for native-born Americans in terms of jobs, wages, and even political power.
In a nutshell, this migration mayhem is not just shaking up the housing market; it’s tossing in a whole salad of economic, social, and political implications. So, grab your popcorn and stay tuned because it looks like this rollercoaster ride is far from over!
