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Wednesday, October 1, 2025

Category: Economy

migrant crisis
September 3, 2024
Christopher Tomlinson
Economy
Immigration
UK

Jobless Migrants Costing UK Over $11.1 BILLION Per Year.

A record number of jobless migrants in the United Kingdom are costing the country at least £8.5 billion (~$11.14 billion) annually. Around 1.68 million migrants are either looking for work or are classed as “economically inactive.”

Government Office for National Statistics (ONS) data suggests that the 2024 jobs figures represent the highest migrant joblessness rate since 2012. When social services, healthcare, transport, and other costs are considered, estimated costs to taxpayers could be far higher than £8.5 billion pounds, skyrocketing to as much as £20.3 billion (~$26.6 billion) a year.

Robert Bates, research director at the Centre for Migration Control, says the new leftist Labour government should stop handing out long-term visas when so many migrants are not working.

“This is the very definition of a Ponzi scheme, and we will only compound the problem if we do not change course soon,” he said.

Britain has seen unprecedented illegal and legal migration in recent years, with net immigration running at 764,000 in 2022. This is significantly straining the housing supply. To alleviate the problem and help build new homes, Deputy Prime Minister Angela Rayner wants the country bring in even more migrants on supposedly “temporary” visas.

Other Western nations are also dealing with significant unemployment among their migrant populations. In Sweden, migrant unemployment is often several orders of magnitude above native-born Swedes. Migrants also account for around 80 percent of all welfare fraud in the country.

Meanwhile, the Danish Finance Ministry published a report noting that migrants from at least 24 different Muslim-majority countries make no net contribution to public finances.

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A record number of jobless migrants in the United Kingdom are costing the country at least £8.5 billion (~$11.14 billion) annually. Around 1.68 million migrants are either looking for work or are classed as "economically inactive." show more
September 3, 2024
William Upton
Economy
Election 2024

More Workers Taking on Two or More Jobs to Make Ends Meet in Biden-Harris Economy.

The Biden–Harris economy has left many American workers struggling to find more work hours and often taking on second jobs to make ends meet and pay the bills. According to the Bureau of Labor Statistics (BLS), the number of Americans taking on two or more jobs ticked up significantly in July. At the same time, the government agency announced that total jobs numbers for the year were being revised down by nearly one million.

From 2010 until 2019, an average of 4.94 percent of workers needed to hold down two or more jobs. During the COVID-19 pandemic—mostly due to government relief programs—that number fell to just 4 percent. However, under the Biden-Harris government, 5.3 percent of workers needed two or more jobs in July, an uptick from 5.2 percent in June.

While these numbers may not seem significant on their face, the jump in two or more job holders represents a nearly 10 percent increase under Joe Biden and Kamala Harris compared to previous presidencies.

Workers are increasingly holding one or more jobs for several reasons. Inflation under the Biden–Harris government has caused a dramatic increase in housing and grocery prices. Additionally, wages have once again stagnated—primarily due to eroding purchasing power—after rising under former President Donald J. Trump.

“One story is that people are short of cash, and they need extra hours and the only way to pick up extra hours is by picking up a short-term job,” explained Christopher Taber, who chairs the economics department at the University of Wisconsin, Madison, in a recent interview.

The National Pulse has previously reported that most of the jobs created in the Biden-Harris economy have been part-time.

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The Biden-Harris economy has left many American workers struggling to find more work hours and often taking on second jobs to make ends meet and pay the bills. According to the Bureau of Labor Statistics (BLS), the number of Americans taking on two or more jobs ticked up significantly in July. At the same time, the government agency announced that total jobs numbers for the year were being revised down by nearly one million. show more
August 30, 2024
Jack Montgomery
Economy
Election 2024

Kamala Lies About Fracking Ban Support.

Vice President Kamala Harris openly lied about her support for a fracking ban during a sit-down interview with CNN—her first since becoming the Democratic presidential nominee. Speaking to Dana Bash alongside running mate Tim Walz, Harris was asked, “Do you still want to ban fracking?” Harris falsely claimed she “made [it]t clear on the debate stage in 2020 that I would not ban fracking.”

During her failed presidential primary run in 2019, Harris told a CNN town hall there is “no question I’m in favor of banning fracking,” vowing she would begin the process on “day one” of a Harris presidency. She bragged this was “something [she had] taken on in California,” where she was a Senator and Attorney General.

She told Bash, “In 2020, I made very clear where I stand” during a debate with then-Vice President Mike Pence. “We are in 2024, and I have not changed that position, nor will I going forward. I kept my word, and I will keep my word.”

However, she did not outline her position on fracking during that debate, merely stating that “Joe Biden will not end fracking” and “the American people know that Joe Biden will not ban fracking.” Harris, not Biden, is running in November.

‘MY VALUES HAVE NOT CHANGED.’

Concerningly, for people whose livelihoods depend on fracking, Harris told Bash, “Let’s be clear. My values have not changed. I believe it is very important that we take seriously what we must do to guard against what is a clear crisis in terms of the climate.”

This suggests that Harris still supports a fracking ban in principle, as she did in 2019, and would likely work to undermine the industry even if she keeps her word on not implementing an outright ban.

She told Bash that, as Vice President, she was able to implement elements of the radical left Green New Deal she supported as a Senator through the Inflation Reduction Act.

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Vice President Kamala Harris openly lied about her support for a fracking ban during a sit-down interview with CNN—her first since becoming the Democratic presidential nominee. Speaking to Dana Bash alongside running mate Tim Walz, Harris was asked, "Do you still want to ban fracking?" Harris falsely claimed she "made [it]t clear on the debate stage in 2020 that I would not ban fracking." show more
August 29, 2024
Christopher Tomlinson
Economy
Election 2024
UK

City of London Balks at Kamala Presidency, With Many Preferring Trump.

Top bankers in Britain’s City of London are quietly hopeful that former president Donald J. Trump will be re-elected in November. They believe his economic policies will be far more beneficial to capital markets than a Kamala Harris presidency.

Despite some concerns over Trump’s protectionist stance on some industries and views on the Ukraine war, some in the City see advantages in his laissez-faire finance approach.

Speaking anonymously, a senior U.K. financial lobbyist noted that a Trump presidency might lead to a less restrictive regulatory environment, potentially boosting financial flows across the Atlantic.

The genuine concern in the City is a potential Kamala Harris presidency. Her economic plan includes targeting big businesses, which could be less favorable for the financial sector than Trump’s pro-business stance.

Under Trump, the City also benefited from appointments of industry veterans to key regulatory positions, like Steven Mnuchin at the Treasury and Christopher Giancarlo at the CFTC. This trend could continue, benefiting the financial sector.

A key opportunity for the City would be the inclusion of financial services in a U.S.-U.K. free-trade agreement, a possibility under Trump but unlikely under President Joe Biden or a Harris administration.

Chancellor Rachel Reeves has already signaled a willingness to strengthen U.K.-U.S. financial ties, regardless of who leads the U.S. And with Trump’s recent support for cryptocurrencies, the crypto industry in London sees potential benefits, despite his previous skepticism.

Trump has promised to create a strategic Bitcoin reserve and has earned millions of dollars of cryptocurrency donations throughout the 2024 presidential campaign.

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Top bankers in Britain's City of London are quietly hopeful that former president Donald J. Trump will be re-elected in November. They believe his economic policies will be far more beneficial to capital markets than a Kamala Harris presidency. show more
August 29, 2024
William Upton
Economy

15% of All U.S. Oil Production Might End in a Matter of Months. Here’s Why…

The Biden–Harris government appears to be dragging its feet in complying with a court order issued by a judge with the United States District Court for the District of Maryland earlier this month, which could result in a ban on all oil drilling activity in the Gulf of Mexico. Currently, drilling the Gulf accounts for approximately 15 percent of all U.S. oil production.

At the center of the potentially disastrous halting of Gulf oil projects is a convoluted intersection of issues involving the Endangered Species Act (ESA), the National Environmental Policy Act (NEPA), and a biological assessment for the region that began in the final days of the Trump administration.

BANNING DRILLING.

The U.S. District Court in Maryland struck down the National Marine Fisheries Service’s biological assessment and ordered a new assessment to be completed by December 20. Ostensibly, the court ruling aims to strengthen protections for the endangered Rice’s whale, among other species. However, some view the move as a backdoor attempt by Biden–Harris to bar drilling in the Gulf.

A cadre of environmentalist groups brought the lawsuit against the National Marine Fisheries Service. Despite the litigation’s long-term economic impacts, the Biden–Harris government appears to be doing little to challenge the jurisdiction of the Maryland federal judge or the standing of the environmental groups—in essence, giving their tacit approval to drilling being blocked.

KAMALA’S GREEN AGENDA.

The Biden–Harris government has already offered the fewest oil and gas drilling leases in the Gulf of Mexico in U.S. history. Meanwhile, with the federal court now mandating a new biological assessment, the Biden-Harris government can entirely end drilling in the oceanic region by using agencies to slow down the process.

Kamala Harris, the 2024 Democratic Party presidential nominee, is a staunch opponent of the oil industry and unlikely to seriously challenge the court ruling. In 2020, she vowed that fracking would be banned on “day one” of a Harris presidency.

The Gulf oil industry adds tens of billions of dollars to the U.S. economy and provides hundreds of thousands of jobs to U.S. workers.

Image via Flickr.

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The Biden-Harris government appears to be dragging its feet in complying with a court order issued by a judge with the United States District Court for the District of Maryland earlier this month, which could result in a ban on all oil drilling activity in the Gulf of Mexico. Currently, drilling the Gulf accounts for approximately 15 percent of all U.S. oil production. show more
August 29, 2024
William Upton
Economy
Election 2024

Yes, Kamala Harris Wants to Tax Unrealized Capital Gains, And It Would Be a Disaster.

A senior economic advisor to Kamala Harris‘s 2024 presidential campaign has confirmed the Democratic nominee intends to impose a tax on unrealized capital gains. Bharat Ramamurti, who serves as an economic aide to Kamala Harris, dismissed criticism of the Democratic Party‘s presidential candidate’s tax plan during an appearance on CNBC on Wednesday.

“I think that this reaction to unrealized gains is a little funny given that I bet that the majority of people watching right now are already paying a tax on unrealized gains,” Ramamurti contended during the interview. He added: “It’s called a property tax.”

CNBC host Joe Kernen abruptly cut Ramamurti off, describing the Harris advisor’s “property tax” canard as “tiring” and “always the go-to answer.” Indeed, Kernen is correct that a property tax—defined as a use tax—is dissimilar from a tax on unrealized capital gains.

A PROPERTY TAX?

Property taxes pay for local services such as public schools, police, and firefighters. However, a tax on unrealized capital gains would tax the unsold value of a capital good—such as stock shares in a company. The shareholder would be taxed on the assumed value of the shares without them being sold—meaning if they’re later sold for a loss, the taxpayer has been legally overtaxed by the government.

When pressed on how Harris‘s proposal to tax unrealized capital gains would act in any way like a use tax, Ramamurti unconvincingly sputtered: “All the revenue that comes in from these unrealized gains taxes and the other taxes in the tax—in the Harris plan—are going to go to creating what she calls ‘more opportunity.'”

Despite Ramamurti’s unconvincing spin, the reality is a tax on unrealized capital gains could prove economically disastrous. While Harris claims only the highest income earners would be impacted, it is these same high earners who have the largest market impacts as investors. An unrealized capital gains tax would likely dissuade these individuals from future market actions.

WATCH: 

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A senior economic advisor to Kamala Harris's 2024 presidential campaign has confirmed the Democratic nominee intends to impose a tax on unrealized capital gains. Bharat Ramamurti, who serves as an economic aide to Kamala Harris, dismissed criticism of the Democratic Party's presidential candidate's tax plan during an appearance on CNBC on Wednesday. show more
August 28, 2024
Jack Montgomery
Economy
Immigration

This Sanctuary State Just Blew a BILLION Dollars on ‘Secret’ Migrant Spending.

Republicans have formally requested information from the Massachusetts state government regarding $1 billion in expenditures on the migrant crisis. The Massachusetts Republican Party has called upon Governor Maura Healey’s administration to provide a comprehensive cost breakdown detailing the financial impact on state residents.

“The Healey-Driscoll Administration has shrouded nearly $1 billion spent in secrecy, leaving Massachusetts residents in the dark,” complains state party chairwoman Amy Carnevale. “They have withheld critical information on 600 incidents involving police, fire, and EMT. Blocking journalists at every turn, the administration has obstructed the flow of information to the public.”

Carnevale has filed a Freedom of Information Act (FOIA) request seeking detailed information on the allocation of funds for migrants. The request demands the names of government and private entities involved in providing housing, the specific locations of migrant housing, correspondences related to public safety issues, and relevant police or incident reports.

The request follows a report by the Center for Immigration Studies (CIS) highlighting the strain on state resources due to the increasing number of migrants. CIS projects costs potentially reaching $1.8 billion over the next two years, with the state already spending over $1 billion on its Emergency Assistance shelter program.

BURDENS. 

In addition to the immediate costs of housing migrants, the CIS report identifies other financial burdens in terms of providing education, social services, healthcare, and public safety. The report estimates that around 355,000 migrants currently reside in Massachusetts.

Whistleblowers have previously revealed how migrants put up in Massachusetts hotels and motels receive “free diapers, wipes, toiletries, free tablets and phones, free English lessons, state caseworkers making sure all entitlements are taken, free Uber and Lyft rides, [and] free bus passes,” among other benefits.

“They all have MassHealth, free legal services, free tax-filing services,” the whistleblower said, adding that the hotel where they operated saw “daily” police and fire department callouts to deal “with fights, guns, drugs, [and] overdoses.”

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Republicans have formally requested information from the Massachusetts state government regarding $1 billion in expenditures on the migrant crisis. The Massachusetts Republican Party has called upon Governor Maura Healey’s administration to provide a comprehensive cost breakdown detailing the financial impact on state residents. show more
August 27, 2024
Economy
Immigration

ICYMI: Zero-Down Mortgages for Illegals!

A California bill aimed at helping illegal aliens become homeowners is progressing in the Democrat-dominated state legislature. The California Senate Appropriations Committee—comprised of five Democrats and just two Republicans—advanced AB 1840 along partisan lines, which amends the California Dream for All Shared Appreciation Loan program so it applies to foreigners.

The bill, authored by Assemblymember Joaquin Arambula (D), facilitates access to down payment assistance for illegal aliens. The program would provide illegals up to 20 percent of a home’s purchase price as a down payment loan for first-time buyers. These loans neither accrue interest nor require monthly payments. Borrowers repay the original loan amount plus 20 percent of any increase in home value when the primary mortgage is refinanced or the house is sold.

“The social and economic benefits of homeownership should be available to everyone. As such, the California Dream for All Program should be available to all,” stated Arambula.

Critics argue that the bill prioritizes illegals over American citizens amid a significant budget shortfall. San Diego County Supervisor Jim Desmond expressed concerns about California’s $60 billion deficit and labeled the bill as fiscally irresponsible.

The bill requires approval from the Democrat-supermajority state Senate and Governor Gavin Newsom.

In Oregon, California’s northern neighbor, the taxpayer-funded Hacienda Community Development Corporation (Hacienda CDC) is already subsidizing noncitizen home purchases.

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A California bill aimed at helping illegal aliens become homeowners is progressing in the Democrat-dominated state legislature. The California Senate Appropriations Committee—comprised of five Democrats and just two Republicans—advanced AB 1840 along partisan lines, which amends the California Dream for All Shared Appreciation Loan program so it applies to foreigners. show more
August 23, 2024
William Upton
Economy
Election 2024

Fed Chair Jerome Powell Signals Interest Rate Cuts Coming In Fall.

“The time has come to adjust,” Federal Reserve chairman Jerome Powell announced in Jackson Hole, Wyoming on Friday. The central bank chairman warned that he and other members of the Federal Reserve were becoming increasingly concerned about the health of the U.S. labor market and were confident that they were nearing their two-percent inflation target.

Noting that the “direction of travel is clear,” Powell signaled that the Federal Reserve will likely move to cut interest rates during its September Federal Open Market Committee (FOMC) meeting. Currently, U.S. interest rates sit between 5.25 and 5.5 percent—having remained unchanged for over a year after the central bank engaged in a series of rate hikes to combat rampant inflation.

While Powell‘s remarks at the Jackson Hole Economic Symposium strongly signal a rate cut in September, he did not allude to the size of the cut. Some market observers have speculated the FOMC could move to reduce rates by 50 basis points—though a 25-point cut is most likely.

“The global period of inflation was unlike anything since the 1970s,” Powell said, describing the economic history of the past several years under the Biden-Harris government. The central bank chairman stressed that inflation has only abated because of the actions of the FOMC, the receding of pandemic-era supply shocks, and a reduction in aggregate demand. Powell’s remarks did not give any credit to the actions of the Biden-Harris government—which economists have criticized for engaging in inflationary fiscal policies.

Powell indicated the Federal Reserve’s focus would now shift to employment, likely spurred by Wednesday’s Bureau of Labor Statistics (BLS) revision in job numbers over the past year. The National Pulse reported that the government agency now admits the U.S. economy added 818,000 fewer jobs than it had previously claimed.

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"The time has come to adjust," Federal Reserve chairman Jerome Powell announced in Jackson Hole, Wyoming on Friday. The central bank chairman warned that he and other members of the Federal Reserve were becoming increasingly concerned about the health of the U.S. labor market and were confident that they were nearing their two-percent inflation target. show more
August 22, 2024
William Upton
Economy
Election 2024
Media

Only One MAJOR Media Outlet Covered This Heinous New Scandal.

The corporate media largely ignored a Bureau of Labor Statistics (BLS) announcement that the Biden-Harris government created far fewer jobs than initially reported over the last 12 months. On Wednesday morning, the BLS—a government agency that provides detailed analysis of U.S. employment data—revised downward the number of jobs added to the U.S. economy by 818,000, the single largest revision in 15 years.

Despite the historic and economically concerning announcement, the news—considered damaging to Kamala Harris‘s 2024 presidential campaign—did not feature on two of the three major broadcast news networks’ evening programming. Among NBC, CBS, and ABC, only the last included the revision announcement in a brief mention during its World News Tonight program. Most broadcast networks opted to provide wall-to-wall coverage of the 2024 Democratic National Convention (DNC).

NINETEEN SECONDS OF COVERAGE.

ABC World News Tonight anchor David Muir‘s report—lasting just 19 seconds—stated: “Newly revised jobs data showing the jobs market hasn’t been as hot as it seemed. 818,000 fewer jobs were added during the 12 months that ended in March than previously reported. This puts more pressure on the Federal Reserve to cut interest rates, potentially by half a percentage point next month, which could, of course, lower car loans, mortgages, and credit card rates.”

Later in the evening, the BLS revisions were mentioned a second time on ABC News Live, the network’s free live-streaming channel. The Biden-Harris government’s Secretary of Commerce, Gina Raimondo, was asked if she believes the new jobs numbers “could be a liability” for the Democratic nominee after former President Donald J. Trump hammered Harris on the revisions earlier in the day.

“First of all, I don’t believe it because I’ve never heard Donald Trump say anything truthful,” Raimondo responded, with the exasperated reporter pushing back: “It is, though, from the Bureau of Labor.”

“I’m not familiar with that,” a visibly confused and flustered Raimdo replied.

WATCH:

Image by Dimitry B.

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The corporate media largely ignored a Bureau of Labor Statistics (BLS) announcement that the Biden-Harris government created far fewer jobs than initially reported over the last 12 months. On Wednesday morning, the BLS—a government agency that provides detailed analysis of U.S. employment data—revised downward the number of jobs added to the U.S. economy by 818,000, the single largest revision in 15 years. show more