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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsConservative Admits Trump's Policies 'Would Result in Price Spikes' for Most Americans
Conservative Admits Trumps Policies Would Result in Price Spikes for Most Americans
by Carl Gibson | June 10, 2024 - 5:13am
from Alternet
snip//
But according to the New York Times, Michael Strain who is the director of economic policy studies at the conservative American Enterprise Institute said all signs point to higher prices if the policies Trump is running on become reality.
Strain pointed to the former president's promises to deport millions of immigrants and impose massive new double-digit tariffs on imported goods as reason to believe higher prices are likely if Trump is president again. He said many of the products Americans buy that line the shelves of big box retailers like Walmart and Target are imported from China and that those high tariffs would be passed down to consumers in the form of higher sticker prices.
Additionally, Strain said rounding up, detaining and deporting millions of immigrants would "cause a severe supply shock to the labor market," as many industries including agriculture, manufacturing, construction and educational and health services rely heavily on immigrant labor. He said that if jobs predominantly done by immigrants many of whom work for very low wages with no benefits suddenly became vacant, employers would have significant difficulty getting native-born Americans to fill those roles. Unemployment is still fairly low at approximately 4%, and Strain said Americans would almost certainly pass up those low-wage jobs for work that pays better, and that the plentiful job market would allow them that choice.
"Basic economics say the result would be higher prices, as production falls and labor costs go up. For example, if farmers could not find enough workers to pick all their crops, there would be a smaller supply of produce and it would get more expensive," wrote Times reporters Maggie Haberman, Charlie Savage and Jonathan Swan. "And businesses would be forced to offer higher wages to attract or retain workers passing on some of their higher costs to consumers."
more...
http://www.smirkingchimp.com/thread/carl-gibson/110627/conservative-admits-trump-s-policies-would-result-in-price-spikes-for-most-americans
marble falls
(60,882 posts)Old Crank
(4,351 posts)a recession as a 2 sectors of the economy cut back hard.
With a restricted amount of labour for construction and farming, and whites not willing to do that work those industries will have to cut back. Fewer houses built, fewer crops planted and harvested. Not only will the imports get higher prices but housing costs and food will go up.
His policies are a disaster.
Ray Bruns
(4,439 posts)Just once.
AZ8theist
(6,239 posts)Other than revenge, WTF does he stand for??
aggiesal
(9,352 posts)High Demand & Low Supply = Higher prices
Duh
But who cares about higher prices when you have the full power of the government and a party that doesn't care as long as they have all that power.
erronis
(16,576 posts)Naomi Klein.
First you have to destroy in order to rebuild in the fashion you want.
LA Blue Bengal
(19 posts)Especially the section about post-Soviet Russia. That was a huge mistake on the Wests part. Transitioning to the social democracy Gorbachev wanted instead of the Chicago School shock therapy would likely have avoided the multiple crises that brought Putin to power
teofilogray
(3 posts)Whoa, hold up! Even a conservative economist is saying Trump's plans might make stuff more expensive. Imagine paying extra for your fav clothes or fruits! That's what could happen with higher tariffs and less immigrant workers. Sounds like a big deal for our wallets, right?
KS Toronado
(18,885 posts)markodochartaigh
(1,791 posts)tens of millions of retirees will be forced to sell their homes into a crashing real estate market. Younger people will see their inheritance go up in smoke. And even wealthy young people with cash often won't be able to buy a home as they are out competed by hedge funds buying up houses for pennies on the dollar in cash. We saw this in the 2008 Bush II real estate crash.
Hotler
(11,845 posts)All three tend to drive up prices.
patphil
(6,804 posts)We're nearly at full employment now. Throwing out over a million immigrants, will result in a huge number of jobs flooding the market, and no one to fill them, labor costs will rise, and the price of goods and services will rise.
This will fuel inflation; probably bring about a recession.
Of course the Republicans plan to fill those open jobs with our children. Many states are lowering the age at which children can work in various types of jobs.
This will work out just fine for everyone...NOT.
Lets face it, we need immigrants to fill the entry level jobs most Americans won't take because these jobs don't pay enough to live on.
This is the way it's been for way over 100 years. Immigrants come here to escape poverty, crime, or persecution. They take marginal jobs and work hard to better themselves and their families so they will have a better future. It's ironic that most of the Republicans who are so anti-immigrant have ancestors who came here for all the reasons I just stated, and lifted their families up to achieve that better life that their Republicans descendants now see as "poisoning the blood of the nation".
Fuckin' incredible, huh?
Shipwack
(2,292 posts)And have inmates work the fields, etc. Probably pay them less than the immigrants they replace, too. The prison corporations will split the difference with legislatures.
Simeon Salus
(1,239 posts)They are always wrong in the same exact direction...
Buns_of_Fire
(17,727 posts)the only thing left that future Americans are qualified to do. And the happy and content workers will be ecstatic when the overseers increase their weekly chocolate ration from 4 ounces to 3.5 ounces.
4lbs
(7,246 posts)Then, when he signed it, all the immigrants stopped coming to Florida.
The state agriculture and construction ground to a halt and people pleaded with immigrants to stay and finish their work and not leave.
F that. F around and find out.
From last year. Around this time. June 2023.
https://www.npr.org/2023/06/07/1180646146/florida-immigration-law-sb-1718-republican-lawmakers
Florida Republicans who voted to pass the state's imminent anti-immigration law are trying to curb a potentially disastrous mass exodus of undocumented residents by touting the legislation's many "loopholes."
GOP Rep. Rick Roth, a third generation farmer, told NPR on Tuesday that state Senate Bill 1718, which goes into effect on July 1, was designed to "scare migrants." But he admitted that he and his colleagues were unprepared for the destabilization it would cause among the state's more established immigrant communities.
Traurigkeit
(1,290 posts)and not conquered by an external force