Over the past 5 years, foreign born workers provided 77 percent of all employment gains. Foreign born does not imply illegal. 
The Foreign Born numbers from the BLS are not seasonally adjusted. That means we can only compare year-over-year numbers, not month-over month.
It also means we need to use NSA umbers for the US and total employment levels.
If you incorrectly mix and match and adjust the starting point, you can get 5-year numbers close to or possibly exceeding 100 percent. By that I mean subtracting January, February or March numbers from May numbers (smaller font numbers in the above chart red, green, and blue).
Chart Details
- Over the past year, US born employment fell by 298,000 while foreign born employment rose by 637,000. The net impact is a gain of 339,000.
- Since May of 2019, foreign born employment is up by 3.2 million while US born employment is up by 971,000.
- Over the past 5 years, foreign born employment accounted for 77 percent of all employment gains.
Foreign Born Definition
The U.S. Census Bureau uses the term foreign born to refer to anyone who is not a U.S. citizen at birth. This includes naturalized U.S. citizens, lawful permanent residents (immigrants), temporary migrants (such as foreign students), humanitarian migrants (such as refugees and asylees), and unauthorized migrants.
Unlike others, I am not going to speculate on how much of this is illegal immigration. I don’t know.
Watch the Year-Over-Year Trends
- 2021: FB +3.4 Million, US: +10.7 Million
- 2022: FB +2.9 Million, US: +3.9 Million
- 2023: FB +1.6 Million, US: +0.8 Million
- 2024: FB +0.6 Million, US: -0.3 Million
The trends are from May-to-May.
Employment has nearly stalled but people are cheering today’s “beat the street” bizarro jobs report.
Part-Time Employment and Multiple Job Holders
Part-time jobs and multiple jobholders are just under all-time highs. However, they are not significantly higher than pre-pandemic peaks.
The question of the infamous BLS Birth-Death adjustment came up again on Twitter today. Birth-Death pertains to the net number of jobs the BLS assumes are being created by new businesses created minus the number of employees lost by businesses going out of business.
It’s a complicated mess and most make invalid assumptions regarding the process. I will review the process again, with some new thoughts in a subsequent post.
For now, hardly anyone believes today’s jobs report, including me.
Another Bizarro Jobs Report
For discussion of today’s incredulous jobs report please see Another Bizarro Jobs Report – Payrolls Rise 272,000 Employment Drop 408,000
1) Between Feb and Apr 2024 Gold [1W] was taking off. May 20 was a trigger. Yesterday Gold closed May 22/23 gap and dropped like a rock.
2) WTI is down for 2Y for a lack of demand. OPEC cuts might send it up to close Apr 30/May 1 gap. At $75 it might be in equilibrium between buyers, who spend $60/$100 at the pump including junk, and suppliers. In CA Newsom robs the poor and the middle class. The upper middle class drives EV.
3) Due to EV production in China, not RE, Dr copper was taking off between Feb and May 2024. It is fading.
4) USD has been rising in rolling hills since Dec 2023. It might cont up to close Nov 1/2 2023 gap.
$75 WTI is a great price for most oil and gas producers. Free cash flows of around 15%. Add or subtract 5% FCF for each $10 change in price.
World Demand is still going up each year.
2021, 99 mbpd;
2022, 100 mbpd;
2023, 102 mbpd;
2024, est 104 mbpd
I LOVE when older people finally get it!!!!!
Instead of saying, “F you, I got mine and I want more and I’ll do anything to get more” some are actually waking up. Let’s hope enough get it before it’s too late and the young come for us all
https://twitter.com/StealthQE4/status/1799406568641077499?t=dCzERf6b_WANB2WzEY2QhQ&s=19
That makes intuitive sense. The baby boom peaked in 1957; that cohort would be 67 now. The Immigration and Naturalization Act of 1965 ended the old quota system. Now applicants world wide can and do compete for US job openings at our company.
Immigrants came to the US to work hard, raise and feed a family. They didn’t come
here to be on welfare. Many earn $40K/$80K per year. Muslim immigrants came here to expand Islam. All we and Europe can do is to stop/slow the invasion brigades.
Triangle-Tech 6 branches PGH PA shut its doors for lack of students. They trained welders, electricians, car mechanics, air condition tech…Teaching AI is a gold mine.
Have you had anyone try to convert you to Islam? I haven’t.
Have you ever had Muslim preach how they plan for islam to take over the west through immigration and breeding? I have.
They only need 51% of the vote; converts and sympathisers are (temporally) welcomed but not neccessary. Just ask Lebanon
Same fears were raised a century ago by Protestants about Catholic immigrants. We got Guinness and Pizza but no one made USA Catholic. So I think it unlikely the Jihadi spirit persists beyond 2nd generation. Cultural pride follows identity and immigrants’ kids are not immigrants themselves. And the Muslims also have stiff competition from Asians and Hispanics.
Yeah. I’ve had Europeans amazed that I don’t speak Hungarian since my grandparents grew up in Budapest. Or, Spanish, or German,since the other set grew up in Barcelona/Berlin. In the end they say, oh well, the third generation is ‘completely assimilated’. Yep…… In the case of my grandparents they left the old country and never looked back and viewed the old language as a way to speak in code in front of their kids. They were always surprised, even in their 80s, that my parents understood the language(s), no problem. Amusing.
Eh, I live in Washington DC. I know at least 50 Muslims, all seem to be very happy to be in the US where they can speak their mind without being shot. Ditto Chinese and alot of other nationalities. I never heard any Muslim say anything about a plan to take over, although I have to admit I’m just talking about the Muslims I know. It seems there are such people, mainly in Europe, but the US is alot better at assimilating than they are which explains alot. We’re not an ancient tribe with boundaries, we’re an idea: the Declaration of Independence. Big difference. Anyone who believe in those principles can be a genuine American.
Which is not to say that the US doesn’t let too many unskilled illegals in, but that’s another issue. Which is not to imply they’re bad people, if I was them I’d do the same thing. It seems more than a few are here for the free benefits but is that their fault? No, it’s our fault, can’t blame them for taking advantage.
Lebanon is a particular (highly screwed up) place. Not sure if the bad situation there is applicable to anywhere else.
There’s a comedy skit there: Knock knock… have you accepted Mohammed as your lord and savior? Have a pamphlet that explains how Islam can turn your life around and provide the abundance Allah wills for you!
It’s only going to continue. I read a scientific article about how willpower is built by either forcing yourself, or being forced, to do something you don’t want to. They could actually see a size difference in one of the Cingular cortex structures (forget which) in people that had been subject to rigorous training vs those that were allowed to do as they pleased. So it turns out there IS something to that old hard-ass style of education.
That used to be the school experience. You had to do as you’re told, or there were serious consequences. You got spanked (I think that one can be left behind… all manner of creepiness came with that), detention, being held back, or the very worst, they called your parents and THEY took care of it.
Been reading r/teachers on reddit (primo rage bait if you feel like getting spun up), and that is absolutely no longer the case. If the school calls the parent, the parent indignantly takes up for the child. They can’t even get the phones away from the kids because the parents complain.
So what we’re seeing is high school graduates that are the result of 10 years of dicking around on their phones 8 hours a day instead of learning how to do anything, not being held to a deadline or any expectation whatsoever. There are exceptions, as always, but the vast majority reach adulthood with no willpower, no drive, no curiosity, nothing. Our educational system after 12 years has produced an imbecile that is good for nothing but sniggering at tictoc… and the cherry on top is the rampant obesity.
If you plan to live another 20 years or more, take care of yourself. There isn’t going to be help for invalids like there is now.
You cannot trust the cell phone generation to work a shovel.
Hector and Hermilinda will handle it… and if the school calls about little Juan, little Juan is in for a bad time.
Immigrants making America great—again.
So illegal entry is AOK?
Legal vs Illegal ceases to have any meaning; once what’s attempted passed off as “The Law” is nothing more than arbitrary, regime-serving pap.
I’m not aware of The Founders making much of a distinction between exactly how people arrived in the US. Not being a Torah scholar, I don’t know about Moses. Judging by current Israeli actions, it would seem systemic apartheid is rather firmly baked into whatever legal framework they’re operating within. But even if so, Jesus seem to have pretty clearly invalidated any such earlier teachings, which one would think should take precedence over any hangups those stuck 2000 years ago may still have, here in “In God We Trust”-land.
Hence, as of the US Founding; there was very little difference made between dudes arriving here. As far as I can tell; that persisted at least until the start of the progressive era. And, as anyone even semi sentient can not help but recognize: Once progressivism takes hold of anything, anywhere, all that isleft, is nothing but pure, undiluted arbitrariness.
Which resolves to: Not one single law nor official decision made since then, is in any way binding on sentient people. It’s all nothing but childish, arbitrary tripe. Enacted by noone but childish morons too dumb to even recognize arbitrariness when it emanates from the front facing hole in that empty head of theirs.
That in no way implies unconstrained immigration is necessary “good.” Just that once the idiots in charge OKs central banking, income taxes and the rest of the 100% all-destructive-and-nothing-but progressive drivel canon: Nothing else that they ever support nor decree, has any bearing on anything whatsoever. It’s all just mindless, blatantly stupid, utter drivel. Hence any “legal” vs “illegal” demarcation invented since then, is morally and intellectually null and void a priori. Just as is whatever else the idiots say, deem, hold, want, wish,hope for and dream of.
In fairness, the stagnation of US born employment can be mostly attributed to the disappearance of the Boomers from the labor force. The is a kernel of truth in the replacement theory of immigration.
It would be very helpful to have hard data on size of “native born” US population by age group. The decline in Native Born employment may be purely demographic, in which case the immigrants are growing the economy and kudos for the ones who are making great and/or building better.
I agree….there simply aren’t as many younger people.
Reading the comments here I think everyone can agree that there are plenty of profits to be made from immigrants whether legal or not. The only question left, is how to profit from the situation.
I used to have a vending machine route, with sites at packing houses and around farms. I sold about 3x as much when I started having a guy bring Mexican snacks up.
Unfortunately most of it was in singles and coins. It was like being a low end stripper.
At least it was all tax free profits!
This is a shame and a travesty. I grew up in a powerful, strong, superior America in the 80s and 90s. One where middle America ruled the day, I guess it still does because the coasts are trash except Florida. But now they label patriots as toxic, even though we are the only ones left fighting for this country as it rots away. Maybe all the bum and crackhead infested Governors of the coastal states should take note of the superior red state economies? Jobs everywhere and it’s illegal to panhandle or pitch a tent. You gotta work, and fight!
It’s not your America anymore. You sound like the older boomers always reminiscing about the 1950’s ‘Leave it to Beaver’ days.
Here is the CNBC video of Mike Johnson interview. Watch the 5:45 minute mark where he is asked about illegal immigration. He acknowledges the problem, even states 60 million as a number, “untold damage” then says that nothing will be done about it. Essentially says, the country is changing and it’s going to keep changing for the next decade and beyond. Straight from the horse’s mouth.
https://www.youtube.com/watch?v=zjlKvcNilfQ
Of course, if Trump wins he’ll put on a circus next year but the speaker of the house is already telling you nothing will really be done. Nothing.
Any questions?
They don’t really accept that they are going to be dead fairly soon, and none of this will be a problem for them.
As I recall, Japan was kicking our butt in the 80s. Crack was rampant. Crime was worse.
What you’re longing for is that sense of being better than everyone else. You weren’t then, you aren’t now, but you were able to convince yourself of it then. If you’re going to tell yourself stories that aren’t true, tell ones that make you happy.
Pretty in Pink 1986
The Breakfast Club 1985
REM, the B-52’s, The Smiths, Psychadelic Furs, DEVO, etc. etc. etc.
The ’80’s were great!
80s: Japan was kicking out butt. Now: China is kicking our butt
80s: Crack was rampant. Now: Fentanyl is rampant (and OD’s are much higher)
80s: Violent crime was higher but prosecuted. Now: Petty crime is higher AND not prosecuted
80s: American was at peace. Now: America is perpetually at war
80s: Citizens not spied on. Now: Constant citizen surveillance
Seems like the 80’s were a better time to me.
“Seems like the 80’s were a better time to me.”
That’s an inevitable effect of permanent decay. As has been the US experience since at least 1870.
Perhaps you’ll enjoy this article:
—–
The Age of the Drone Police Is Here
A WIRED investigation, based on more than 22 million flight coordinates, reveals the complicated truth about the first full-blown police drone program in the US—and why your city could be next.
Dhruv Mehrotra, Jesse Marx
Jun 5, 2024 6:00 AM
…
https://www.wired.com/story/the-age-of-the-drone-police-is-here/
Too funny. I just saw and read that same article earlier today.
Another reason I want to move somewhere rural when I retire. Last thing I want is some drones watching me and the misses skinny dipping in the pool.
Here’s another drone story to be worried about.
Eric Schmidt’s AI Combat Drones
Curated by Perplexity Team
7 Jun 2024
Eric Schmidt, the former CEO of Google, is quietly developing AI-powered combat drones through his secretive venture, initially known as White Stork and now rumored to be called Project Eagle. This initiative aims to revolutionize military technology by creating drones that leverage artificial intelligence for precise target identification and engagement in complex battlefield environments.
Quest for the Top Talent
Schmidt has been actively recruiting top talent from esteemed organizations such as Apple, SpaceX, Google, and federal government agencies to advance the development of AI-guided drones at his venture. Over the past few months, approximately a dozen employees have joined the company, which operates discreetly under a network of LLCs to maintain secrecy.
The billionaire technologist has also been personally involved in the testing and development process, frequently visiting Ukraine to oversee progress and gather feedback from Ukrainian military officials. Neighbors of Hillspire, Schmidt’s family office in Silicon Valley, have observed individuals flying small drones from the building’s gated courtyard, while sources familiar with his activities in Kyiv revealed that his team has been testing drone prototypes with the Ukrainian Ministry of Defense.
White Stork aka Project Eagle
White Stork, the company founded by Eric Schmidt in August 2023, has been operating under the radar through a network of LLCs. Initially named Swift Beat Holdings, it rebranded to White Stork Group LLC in September. Delaware business records identify Schmidt as the sole beneficial owner of Volya Robotics OÜ, the holding company for Swift Beat.
The venture’s primary objective is to develop mass-producible drones equipped with AI for visual targeting, capable of functioning in GPS-jammed environments. Though still in stealth mode, White Stork’s activities have become an open secret within the drone community, with Schmidt personally involved in exploring Ukrainian factories and testing ranges while reaching out to various startups.
AI-Powered Combat Drones
The primary focus of Schmidt’s venture is to develop drones that harness AI technology for precise target identification and engagement on the battlefield. These AI-powered drones, often referred to as “suicide” or “kamikaze” drones, are designed to loiter in combat zones and strike targets opportunistically. Schmidt has been a vocal proponent of such drones, emphasizing their potential to revolutionize modern warfare by enabling swarms of AI-guided drones to collaborate algorithmically and overcome enemy countermeasures. However, the rapid adoption of AI in combat raises significant ethical and legal questions, which some experts believe are not evolving quickly enough to keep pace with technological advancements.
Testing in Ukraine
Schmidt has been a frequent visitor to Ukraine, witnessing drone warfare firsthand and receiving praise from Ukrainian officials, including Mykhailo Fedorov, the Minister of Digital Transformation. In 2023, his team conducted demonstrations for parties such as the 14th Regiment of the Ukrainian Armed Forces, a specialized unit handling drone reconnaissance and warfare. Sources reveal that Schmidt’s team has been testing drone prototypes with the Ukrainian Ministry of Defense, soliciting their feedback to refine the technology. The billionaire’s involvement in Ukraine’s defense efforts extends beyond his drone venture, as he has also seeded millions of dollars to a Ukrainian startup accelerator called D3, which provides initial funding to defense tech companies in the country.
https://www.perplexity.ai/page/Eric-Schmidts-AI-boKJzWQcRFmCLk5XjgKJEQ
“I grew up in a powerful, strong, superior America in the 80s and 90s.”
By the time Springsteen released his first album, America was already cooked well done and finished.
The 727, 737 and 747, the moonlanding, microchip and ARPANET/internet was Peak America (and even that, only if excluding all higher moments). Since then, there has been nothing aside from ever accelerating decay.
People in the 80s and 90s were just less credit constrained, hence met softer ground when attempting to bury their ostrich heads. While the redistribution of all and everything to purely value destroying idiots on Fed Welfare had also not; yet; managed to transfer quite ALL of everybody else’s wealth to the Fed dependent leeching classes. But that was also all that was different.
Productivity and competitiveness was, obviously, collapsing vis-a-vis Asia already by the 70s. By the 80s, competitively exposed US industry was already on a glide path to extinction. Initially it was mainly Japan and Hong Kong. But by the 90s, noone built industry in America anymore. Darned near the entire Asia offered vastly superior prospects. While, in America, printing money, at ever accelerating rates; and handing it out to noone but the dumbest and most useless and destructive of all possible “ownership society” beneficiary Fed Welfare Queens, was by then all that was left. With entirely predictable consequences.
Anyone even remotely economically literate recognized America was done with, by 1971. Only the truly clueless kept clinging on to the childish cowboy fantasies, that mountains of debt and freshly printed money kept funding, in the Reagan era and beyond,.
Carter was the first elected President after this financial coupe occurred. Ford was appointed. A lot of people say Carter was terrible for this or that reason, but he was sure handled an impossible bill of goods. The next president will be handed an even more impossible bill of goods.
“The boomer destroyed the US”
The Fed; and Nixon; destroyed the US.
Going off Gold in ’71, did coincide remarkably with the entry into adulthood of the always rather uncritical and gullible boomer generation. Heck, it is not unlikely that part of the reason Nixon and the rest could even get away with the theft; was the sheer and utter economic illiteracy of the hey-man-long-hair-and-blind-faith-in-Maos-abroad-and-at-home-gets-you-laid-dude boomer generation..
But still: Completely unhinged, Zimbabwe grade debasement theft; will always be a nasty hand to be dealt, for any generation.
Another point, is that the boomers were not, in aggregate, the ones who had to bear the immediate brunt of the damage: Just as with the Nixon generation who enacted the econocide; the ensuing printing and asset pumping didn’t immediately hurt them at all. The boomers own immediate purchasing power loss from the destruction; at least in aggregate; were more than covered up by borrowing more and being stupid enough to believe the mold in their homes’ walls were busy creating value for them. So while they quite obviously presided over the complete destruction of America: Unless they were somewhat sentient, they very likely weren’t even aware of that, until Trump alerted them to it.
But, what is more alarming than the boomers being clueless and asleep, is that the generations post boomers are still stuck heads-in-sand,-ass-up,-cheeks-spread-for-massa. That those ensuing generations, who receive NO benefit, even temporary, from continuing the econocide, are still mindlessly playing along; is what is truly sad.
– The U.S. Census Bureau uses the term foreign born to refer to anyone who is not a U.S. citizen at birth.This includes:
– temporary migrants (such as foreign students).
> What % go back to their Home? 30%? Just curious…
– humanitarian migrants (such as refugees and asylees).
> What % go back to their Home? 10%? Just curious…
– unauthorized migrants.
> What % go back to their Home? 1% ? Just curious…
– Unlike others, I am not going to speculate on how much of this is illegal immigration. I don’t know.
> I can help you out. Literally Tens of Millions are Illegal (#’s Guesstimate around 30 Million), so say the % are close from above? Then we are talking about roughly 26 Million in just Illegals Unauthorized and/or seeking asylum. That pretty much matches up with the trends below, of course only known or documented (if you trust the #’s).
Watch the Year-Over-Year Trends
2021: FB +3.4 Million, US: +10.7 Million
2022: FB +2.9 Million, US: +3.9 Million
2023: FB +1.6 Million, US: +0.8 Million
2024: FB +0.6 Million, US: -0.3 Million
The accurate #’s would be much higher for FB, and much lower for US, IMO.
Most of the temporary migrants go home. Some are students but the bulk are farm workers in Texas, California etc who come for a few months to do field work and go home. The reason they go home is because they make a years salary in Mexico in 3 months here and their family is there. It’s a big win for them because they make so much money and a big win for us because we get cheap labor.
BTW, if there are 30 million illegals that makes roughly 1/11 people in this country illegal. Do you really think it’s that high?
– Most of the temporary migrants go home. Some are students but the bulk are farm workers in Texas, California etc who come for a few months to do field work and go home. > Most is vague, and I know over the past 10 or more years, many have stayed here illegally, due to the clamp downs on our borders. Now they are getting displaced, unable to work, or don’t wish to any longer. I would like to know where they end up. Streets? Parks, hospitals, hotels etc. I would think that would be information available, albeit unverifiable for the most part, it’s better than nothing. I can’t find any official documents?
– It’s a big win for them because they make so much money and a big win for us because we get cheap labor. > A huge win for them, but we lose out on tax revenue, so it actually cost us even more in total. Add in Healthcare, Education, and much additional cost like infrastructure, Police, Teachers, Firefighters, Government workers at all levels etc. That’s not a win.
– BTW, if there are 30 million illegals that makes roughly 1/11 people in this country illegal. Do you really think it’s that high? > I have read various accounts over the past few years. I have also read/heard repeatedly that roughly 10m have arrived since 2010-2021 (latest data). So there’s that. I suspect perhaps 5-10 million more 2000-2010. Add in the total perhaps another 5-10 million more of, undocumented, uncaught, unaccounted for Etc. 2000-2021, and you’re at 20M-30M if you do. I don’t know is my point, but it’s very high for sure as of today Vs. 2000 for certain. I cab easily buy into 20M, and talked into more with harder data, and not all from our Government, JS…
Perhaps this time they can get the diesel right 🙂
Foreign born workers can speak English unlike the urban minority.
It’s not that. I live in apartments owned by a mega-bank, and they just hired around 30 illegal immigrants to do our painting. These are American billionaires making decisions that trickle down. I pay nearly $1800 a month for a sub-800 sqft apartment near Orlando. None of the workers could speak English. The evil part of me wanted to call ICE, but I didn’t want to risk eviction or do something abnormal. Also, it would be me versus hundreds of lawyers in DeSantis’ Florida. Every major Republican will hire illegal immigrants for their businesses but decry it in their politics.
Just because the workers don’t speak English doesn’t mean they are illegal. I live in West Palm Beach and there are plenty of Spanish speaking workers in here who aren’t illegal.
And many, many, many more who are illegal.
If they walk like an illegal, talk like an illegal, and look like an illegal; there is a good chance they are an illegal. With the latest influx, half of them actually are.
My wife and I wanted to put a deck in our back yard. We went to the Home Depot parking lot and got a good price from Juan and Ernesto, but we felt bad about hiring illegals, and decided to hire an American contractor. O’toole’s Home Improvement came by and gave us a quote that was twice as costly, but we decided to go with the American small business. Come Monday morning, who shows up to do the job? Juan and Ernesto.
Not Tyrone and DeJaun?
Judging by the near-infinite hype spewed about AI, its power is practically limitless: it’s going to do all our work better and cheaper than we can do, replacing us at work, to name one example making the rounds. It’s going to revolutionize everything from science to marketing, all the while reaping trillions of dollars in profits for those who own the AI tools, apps, etc.
All these extravagant claims make good clickbait, but let’s set a higher standard: if AI is so great, then prove it by eliminating all the surveillance, spam and robocalling that’s making daily life such a chore. If AI is so powerful and can do pretty much anything a human can do only faster, better, cheaper, then why doesn’t someone assign it a simple task: make all surveillance, spam and robocalling go away and become a thing of the dreary, dreadful past.
https://charleshughsmith.substack.com/p/if-ai-is-so-great-prove-it-eliminate
Indeed… half of the emails I received on a daily basis are spam… how can AI help with this? It can’t …
Surveillance will only increase as we move forward in time. I get 50 emails a day and maybe a couple of spam emails a month. Try using GMail. Google does a good job of filtering out spam. Same with robocalls. Get a Google voice number. Seems to be avoided by the robocallers.
Of course, I don’t blast my email addresses and phone number all over the net.
All that being said, AI is an incredible tool and will only get better.
You’re a one-man strawman factory. You should put them on eBay.
Thanks – I will try that
The US certainly needs people with a strong work ethic; no matter where they were born. We also need people with education, skills, and a willingness to keep improving. Because we are losing a lot of skilled workers to retirement.
Regarding the jobs report; it does not matter if you believe it or not. What matters is how the corporate and investment decision makers react to it.
That is what I care about. Because it affects my personal investment decisions. Another great week trading the markets this week. How did everyone else do this week?
@papadave – I enjoy your comments and agree with a lot of your reflections – and I’m newer to investing – do you have any guidance/recommendations on how to proceed with learning and making profitable moves? My risk profile is probably medium, and I like to start on the slower side to get my feet wet.
Sure. It’s much easier today than in the past. Plenty of no-fee discount brokers like Schwab, Fidelity, E-trade, Robin Hood, Interactive Brokers etc.
Open a free account, deposit a small amount, and start trading a small number of companies that interest you. You can do as little as one share or even fractional shares.
Literally buy 1 share of company x or y to start. Then 1 share of company a or b. Just to get a feel for how it all works.
Once any company you own has gone up a few per cent, sell that share. Again, just to get a feel for it.
As you get comfortable, you can add more money and start working with larger numbers of shares. It’s much easier to trade on a computer or smartphone today than it was 20-30 years ago.
I’ll bet that you can find a hundred youtube videos on this topic.
People going into retirement have a different skill set & experience profile than immigrants.
Agreed. US retirees have experienced a good life in one of the most successful countries the world has ever seen. Their skills, education, and work ethic contributed greatly to that success and helped bring about a wonderful standard of living for the average American.
And most of these retirees are immigrants themselves or the children/grandchildren of immigrants. Immigrants who saw America as the land of opportunity for those who were willing to acquire the skills and education needed. Who saw a country with open arms, willing to accept them and give them that opportunity to work hard to achieve that dream of a better life.
But if those immigrants come and work hard, it’ll make me look bad for slacking off!
Lol! “Some” Americans are lazy and privileged, though certainly not all. I will take a hard working immigrant over a lazy American.
But for Americans with skills and a good work ethic, this is still the land of opportunity. Far better here than in most places in the world today.
Lol! You’re a sad little boy, aren’t you? Full of anger and hate. Probably not very successful either. Successful people would never rant like you.
Here’s a tip: You should focus your energies on becoming successful, rather than on hating those who already are.
You’re welcome!
Hmmm. I had replied to Fast Bear but it appears he has been removed. Probably something to do with his endless rants about eliminating boomers.
Yes. I reported him.
Mish states that he can’t monitor every post and asks to be notified when posters get out of hand.
If people want to post raw BS, then there are plenty of places on the net to do so, such as X.
Yes. Far too many haters here. Also too many cult morons. And many belong to both groups. They rarely add to the conversation. Instead they push their false narratives, over and over. They are a waste of time, as they get in the way of people trying to have an intelligent conversation.
I have always done well during recessions. Just another opportunity to take advantage of.
I haven’t seen a depression, but I will take advantage of that opportunity as well.
Someone like you will hope for a recession or depression, but will be too frightened to take advantage of it when it comes. Though you will certainly complain loudly about it. That’s because you too afraid to make a decision.
Immigrants in general are harder workers because they have to work to survive.
No they don’t. You live in CA. You know that illegal immigrants all sorts of welfare, including places to live, free medical care, free food, free education and more. I don’t understand why so many of them sit around the Home Depot waiting for day work when so much is available for free. Maybe for cigarette, alcohold and drug money?
… or maybe you saw someone that works for a living? Or were they the wrong color for that?
Housing assistance is limited, getting it is like winning a lottery. It’s not an entitlement like social security.
They will give them hotel rooms. Didn’t you read MIsh’s post 6 days ago???
https://mishtalk.com/economics/one-of-every-five-new-york-city-hotels-is-now-a-migrant-shelter/
Illegals can also receive disability.
Well, my neighbors are Mexican. They have a three generation household and all work – very hard I might add. They are admirable. They remind me of my family long ago (also three generations). They are, quite frankly, an asset to this country. My own grandsons seem to have lost this attribute. Only one of three shows initiative like his forebears. Two are wound up in total BS. BTW, I don’t see my neighbors glued to phones like many youth today. If I were doing a startup business today, I would hire my neighbors, or their like, in a minute.
Yes they are good workers and very family oriented based on Spanish culture. The US was founded on British rule of law. A leader who could combine the two cultural attributes would be a sure winner in my mind.
A leader that is family oriented and strictly follows the rule of law? Isn’t that what Donald Trump already offers to the MAGA faithful?
He has what, 3 families? Very family oriented.
You’re one data point means millions of new arrivals – many not even from this hemisphere – means mass immigration is a huge success for all! Overcrowded schools, hospitals, apartments, parks, all mean nothing because you have good neighbors! I’m sooooo relieved!
My last economic reading of the week, happy weekend everyone.