H/T One Old Vet
The financial blog ZeroHedge flourishes by being more alert and less politically correct than the MSM – like The Drudge Report in better days.
From it I have become aware of the appalling impending student loan crisis as I discussed in Gang Bill Response To Record Student Loan Defaults And Youth Unemployment: Flood Their Market!
Yesterday ZeroHedge supplied what ought to be a lethal news item for the immigration acceleration aspect of the Gang Bill: Hourly Compensation Crashes Most Ever, Labor Costs Drops By Most In 4 Years, Manufacturing Compensation Plummets By 7% By Tyler Durden 06/05/2013
So much for the thesis of declining labor slack and rising labor leverage. Moments ago the BLS reported its Q1 labor costs which poured cold water over all recent hypotheses that the US worker's plight is improving. It isn't… This was …biggest collapse in hourly compensation in well, ever and confirms our observations from the last NFP report that quantity gains in jobs continue to be offset by quality declines in actual worker pay
Such is the market into which the evil Gang of 8 intend to introduce as many as 57 million new immigrants, taking much as half the growth in high tech jobs for instance.As Peter Brimelow pointed out in Amnesty Means More Plutocrat Plundering
Although immigration doesn’t benefit Americans in aggregate, it does benefit some Americans—at the expense of others. It does this by increasing competition for jobs and thereby depressing wages...
This explains the extraordinary parade of plutocrats—for example, Mark Zuckerberg, Michael Bloomberg, the Koch brothers—pushing the Gang of Eight’s bill …Basically, they are asking the U.S. government to divert more of Americans’ income to them.
As America’s current immigration disaster is already doing.