Eighty-eight big-business leaders signed a letter Friday endorsing Vice President Kamala Harris for president, underscoring the ongoing political realignment since 2016.

Before former President Donald Trump won the presidency, the Republican Party appeared to be the party of big-business and corporate interests. Now the Democrat party is taking up that mantle in the banner of globalism and “democracy,” a reformation of political identities dating back to Franklin D. Roosevelt and beyond.

“We endorse Kamala Harris’s election as President of the United States,” the big-business leaders wrote:

Her election is the best way to support the continued strength, security, and reliability of our democracy and economy. With Kamala Harris in the White House, the business community can be confident that it will have a President who wants American industries to thrive. As a partner to President Biden, Vice President Harris has a strong record of advancing actions to spur business investment in the United States and ensure American businesses can compete and win in the global market. She will continue to advance fair and predictable policies that support the rule of law, stability, and a sound business environment, and she will strive to give every American the opportunity to pursue the American dream.

The leaders who signed the letter include:

• James Murdoch, former CEO of 21st Century Fox and an heir to the Murdoch family empire
• Philanthropist Lynn Forester de Rothschild
• Ted Leonsis, owner of the NBA’s Washington Wizards
• Jeffrey Katzenberg, founder and managing partner of Wndr and former chairman of Walt Disney Studios
• Philanthropist Laurene Powell Jobs
• Facebook cofounder Dustin Moskovitz
• NBA Hall of Famer and billionaire businessman Magic Johnson
• Entrepreneur Mark Cuban
• Former LinkedIn CEO Reid Hoffman

A majority of voters support the United States placing a ten percent tariff on all imports, a J.L. Partners/Daily Mail poll recently found.

The issue of tariffs is one of the longest-running debates in U.S. history. Tariffs generate revenue for the federal government and encourage domestic production in some industries by acting as a protective barrier against foreign competitors.

As Breitbart News reported, average tariffs increased to as high as 60 percent before declining to 20 percent between 1790 and 1860, according to Douglas A. Irwin’s “Trade Policy in American Economic History.” From 1861 to 1933, average tariffs increased to 50 percent. Since 1934, tariffs declined to an average of about 5 percent due to the rise of an idea dubbed “free trade.”

Free trade sidelined tariffs in policy debate until 2016 when Trump campaigned on America First policies that protect American producers.

Some economists believe “free trade” is a radical idea born to profit the global elites.

RELATED — Trump on Putin’s Kamala Endorsement: “I Don’t Know if I’m Insulted or He Did Me a Favor”

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Wendell Husebo is a political reporter with Breitbart News and a former GOP War Room Analyst. He is the author of Politics of Slave Morality. Follow Wendell on “X” @WendellHusebø or on Truth Social @WendellHusebo.

Originally Posted At www.breitbart.com

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On Friday’s broadcast of the Fox News Channel’s “Special Report,” New York City Councilman Kalman Yeger (D) said that the influx of migrants is “an absolute national problem that is foisted upon cities like ours where people believe that they can come here, they’re going to get a room at the Roosevelt Hotel, they’re going to get a phone, and they all seem to have motorcycles and they seem to be doing just fine.”

Yeger began by saying, “Well, anybody who says that every single person who comes over the border, lawfully or unlawfully, is here to commit crimes is simply wrong. But, at the same time, it’s naive and false to say that nobody who comes here is committing crimes. And the reality is, when a city like New York, with the numbers at approximately, as of two months ago, over 205,000 migrants have come to New York City in the last two years, that is — it’s simply not believable to say that our crime numbers are not seeing the result of that policy.”

He added, “Well, to put this in perspective, the number of migrants who have come into New York City exceeds the number of residents of [the] council district that I represent and that [Joe Borelli (R)] represents. Each of our districts have about 170,000 people. So, we’ve already taken in more than an entire New York City Council district into our city in the last two years. It’s just simply not sustainable. And when we talk about this $5 billion number, think about what New York City can do with $5 billion. We just adopted a budget three months ago. And the biggest fight on the table was whether or not we can keep our libraries open, that’s the battle, whether or not we can afford to keep our cops on the street, to hire more cops for retiring cops, because they’re leaving the job, to hire firefighters, to hire teachers. The services that are required by the migrants who are coming to New York City are immense. They’re costing us an enormous amount of money. We just simply do not have the resources to keep on footing this bill.”

Yeger further stated, “This is a national problem. And just because a city like New York, a city like Chicago, a city like Dallas are the poster [children] and at the forefront of seeing the problem, this is an absolute national problem that is foisted upon cities like ours where people believe that they can come here, they’re going to get a room at the Roosevelt Hotel, they’re going to get a phone, and they all seem to have motorcycles and they seem to be doing just fine. And this is a policy — we do not, in the city of New York, control the borders, all we can control is what’s going to happen to people once they show up in our city.”

Follow Ian Hanchett on Twitter @IanHanchett

Originally Posted At www.breitbart.com

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A No Good, Very Bad, Horrible Jobs Report

If you squint at the latest jobs report, you might find something to cheer about. But if you look at it with clear eyes, what you really see is an economy downshifting and bracing for impact.

The Bureau of Labor Statistics told us Friday that employers added 142,000 jobs in August—hardly anything to write home about and well short of expectations for the second month in a row. Add to that the revisions to June and July, which collectively erased 86,000 jobs from the books, and the three-month average is now a tepid 116,000. That’s a far cry from the 202,000 monthly average we saw last year.

If we narrow that down to the private sector, employment grew by 73,900 in August, falling short of the consensus forecast of 136,000. What’s more, the prior month’s private sector figure was revised down from a lukewarm 97,000 to a chilly 74,000. The three-month average is now just 96,000. This suggests that businesses are not expanding payrolls, indicating a weakening demand for labor.

Go a step further and subtract the so-called government-adjacent sector of health care and social assistance, and private payroll growth drops to just 73,900. After revisions, the July figure was just 15,200, bordering on contraction territory, and the June figure was 28,3000. That brings the three-month average down to just 39,100, one of the weakest three-month periods outside of outright recessions and employment contractions recorded in data going back to 1990.

So, where’s the good news? August was not as weak as July or June, so the deterioration of the labor market may not be getting worse. Then again, given the history of large downside revisions, it’s very likely that the reported numbers for August are too high and will be revised down. So, perhaps things are getting worse and we just do not know it yet.

The unemployment rate fell from 4.3 percent to 4.2 percent. But that decline is less a sign of strength and more of a rounding error and a statistical quirk. The rise to 4.34 percent was largely due to temporary layoffs, which cleared up by August. And the actual move was from 4.25 percent—which was rounded up to 4.3 percent—to 4.23 percent—which was rounded down to 4.2 percent. So, all we really got was a two-tenths of a percentage point improvement that looks larger due to rounding.

The household survey, from which the unemployment rate is derived, showed slightly higher employment growth in August, with the number of employed people rising by 168,000. The discrepancy between the establishment survey and the household survey that got a lot of attention earlier this year after several reports showed far less employment growth in the household survey than the establishment survey seems to have been resolved. For the past three months, the two surveys have been producing results very close to each other.

The Foreign Worker Surge

One aspect of the household survey that has received a lot of attention is the gap between native born employment and foreign born employment. In August, the number of U.S. born employees fell by 1.3 million and the number of foreign born employees rose by 635,000. Over the past 12-months, native born employment has contracted from 131 million to 129.7 million, a loss of 1.3 million natives from payrolls. The number of foreign-born employees has grown from 30.4 million to 31.6 million, a gain of 1.2 million.

This does mean that close to all of the increase in employment has gone to foreign-born workers. Actually, the official numbers may undercount the number of foreign born employees because the household survey is probably not picking up a lot of the newly arrived Biden-Harris open borders crisis migrants.

This is not, however, primarily a sign that foreign workers are taking jobs from Americans. What the government calls the “civilian noninstitutional” native population over 16 shrank by 392,000 over the past year. The U.S. born civilian labor force—that is, the part of the population that is able and willing to work—fell by 768,000. In other words, one of the primary drivers of the contraction in U.S. born workers is that there are fewer adults born here who are able and willing to work because our native population is aging, retiring, and dying.

Meanwhile, the foreign born adult population grew by two million, and the foreign born labor force grew by 1.2 million, matching the gain in employment. While that is no doubt pleasing to their employers because it means they can replace U.S. born natives exiting the workforce with foreigners entering it and do not have to compete for a dwindling pool of workers, which would push up wages, it’s not clear that that is something American voters should be very pleased with.

Keep in mind that the new workers will consume as much as they produce—or nearly so. As a result, there’s almost no benefit at all to the U.S. born or even pre-existing foreign population from new workers. Whatever surplus is left over tends to go to the wealthiest Americans, while the wage depressing effects are felt by the lowest income households.

There’s also likely an inflationary effect. Newly arrived workers tend to be less productive than U.S. born or longer-residing immigrants, but they bid up the prices of everything from groceries to gasoline to housing. And to the extent that the U.S. is facing real production constraints, the additional demand simply means higher prices. In effect, the Biden-Harris migrant crisis is a tax on U.S. residents who were born here or arrived earlier.

One likely reason immigrant employment is growing so fast is that newly arrived immigrants tend to work fewer hours per week and fewer weeks per year, according to a study by the Federal Reserve Bank of Atlanta. As a result, when employers substitute natives or permanent foreign-born workers with newcomers, they have to hire more of them to get the same level of output. This has almost certainly inflated the demand for workers.

As we explained last month, eventually these newcomers will catch up to American work levels. But that takes years. So long as the economy is dependent on new immigrant labor for growth, employment levels are likely to be artificially inflated.

Originally Posted At www.breitbart.com

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Now that she is running for president in a political moment when victimhood is currency, Vice President Kamala Harris paints herself as being brought up on the “streets” — complete with fake accents as part of her bit.

However, unfortunately for that narrative, the politics editor at Breitbart News (me) happens to have grown up in the same neighborhood Harris lived in from when she was 12 to 18 and can report that calling herself “middle class” is definitely a stretch.

On Labor Day, Harris put on one of her myriad fake dialects to address a working-class crowd in Detroit, Michigan.

However, it is virtually impossible for Harris to have organically adopted that accent — or “code switch,” as the propagandists at the Associated Press refer to it — given that not only did she not grow up anywhere near the working class, she actually grew up in one of the most upscale enclaves in Canada, a commonwealth nation with distinctly non-American English.

When Harris was 12, she left Berkeley after her mother was hired to work with McGill University, doing breast cancer research at Montreal’s Jewish General Hospital — the hospital in which I was born. Local doctors described her mother as a “pioneer.”

The neighborhood Harris grew up in is called Westmount, a majority-English neighborhood in the French province of Quebec.

She would have definitely experienced segregation living there but not the kind she has claimed in the last few years to have lived through in her bizarre, obviously mostly-made-up origin story in which she claims to have been of a modest background and somehow had some sort of involvement with the civil rights movement.

Emma-Jo Morris / Breitbart News

There is no racial hostility in Montreal. Some racial political discourse has been imported from America in more recent years, but that would not really be a part of the cultural awareness or experience of someone who stopped living there before 2020.

Montreal is actually a “melting pot” in terms of racial and ethnic diversity and has always had a unique ability to accept immigrants of all backgrounds, races, and religions while maintaining its French culture due to a series of language and culture laws it began implementing in the 1970s.

In a story about Harris’s roots and personal experience, the only segregation she would have experienced would be economic segregation, as Montreal is the most economically segregated city in Canada, according to a study from the University of Toronto.

Emma-Jo Morris / Breitbart News

And, in that city, Harris grew up in the poshest neighborhood, which, at the time she lived there, was not only the nicest neighborhood in Montreal but was the richest one in all of Canada — far from the struggle of the “streets” Harris now purports to have been down with.

According to an op-ed that her best friend from her time at Westmount High School penned, Harris lived with her mother and sister Maya on Grosvenor Avenue in a Victorian home. As her friend explains, Harris enjoyed “family dinners and a stable life.”

This is the street Harris grew up on. These homes list for, minimum, more than $1-2 million CAD (~$750,000-$1.5 million USD):

Emma-Jo Morris / Breitbart News

That tracks with most people’s lifestyles in that neighborhood. It is one of the luckiest places someone could live. Harris implying that it is the “streets” is an ironic joke many who grow up there make.

This is the main street crossing through the middle of the neighborhood, an avenue that bears the same name:

Emma-Jo Morris / Breitbart News

This is the street, Redfern Ave., that Harris’s high school is on the corner of:

Emma-Jo Morris / Breitbart News

This is the library at the edge of Westmount Park, where she could have studied or borrowed books and would have walked by to get to and from home and school each day:

Emma-Jo Morris / Breitbart News

This is where Harris would have spent time and where many or most of her classmates lived:

Emma-Jo Morris / Breitbart News

Harris has contrived a persona and has heralded policies based on what is politically convenient at any given moment to exploit opportunities for herself to get ahead, and it has kind of worked (so far). Extremely fortunately for her, she has found herself running for president in a moment when the media and elites are at their absolute dumbest and laziest, won’t bother to analyze policy, and, instead, sum up a candidate’s entire identity and worldview solely on physical traits, like race. So, she takes advantage of this moment — using her race as some sort of tool to give the opposite impression of the immense privilege (as you can see) she really comes from and deflecting from her lack of connection to or solutions for the real working class.

There is nothing wrong with being from this neighborhood, as you can see. It is beautiful. The people are happy. It is safe and a wonderful place to grow up. However, Harris’s “lower-middle class” pandering bit does not work.

Time for a new bit.

Emma-Jo Morris is the Politics Editor at Breitbart News. Email her at ejmorris@breitbart.com or follow her on Twitter.

Originally Posted At www.breitbart.com

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Kamala Harris will be better for Wall Street investors because she will import more low-wage legal and illegal migrants from around the world, according to Goldman Sachs, a New York investment firm.

The choice was admitted in a September 3 report, titled “The Election and the Economy: Estimating Immigration, trade and Fiscal Effects”:

If Harris wins, we expect that net immigration will continue [at] 1.5mn [million] per year, somewhat above the pre-pandemic trend of 1mn [legal immigrants]. If Trump wins with divided government, we expect net immigration will fall to 1.25mn. If Republicans sweep, Congress could increase enforcement resources, and we expect net immigration would fall to 0.75mn.

The biggest short-term impact, says Goldman, would be caused by President Donald Trump’s support for tariffs to protect U.S. industry, jobs, and science.

However, the firm’s charts show that reduced migration would have the second biggest change, especially after January 2026. “We estimate that the contribution from immigration to labor force growth would be about 30,000 per month higher if Vice President Harris is elected than in the Republican sweep scenario,” the report said.

But Trump’s populist policies would only cost the nation about one-half of one percent of the total economy, the report noted:

We estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse, resulting in a peak hit to GDP growth of-0.5pp [percentage points] in 2025 …that abates in 2026.

Government-delivered migrants boost the economy by serving as wage-cutting workers, rent-inflating renters, and government-funded consumers.

The federal “Extraction Migration” strategy provides a huge human stimulus for Wall Street’s investors in the U.S. consumer economy, even though it imposes huge costs on ordinary Americans and reduces the pressure on companies to invest in high-tech productivity and foreign trade.

Goldman Sachs has been very successful for its wealthy investors over the years, but it is also hated by populist critics on the left and right. “The first thing you need to know about Goldman Sachs is that it’s everywhere …. [and] is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” according to a 2010 article in Rolling Stone magazine.

The report does not explain why Goldman Sachs thinks migration will decline if Harris is in the Oval Office.

Her language suggests she will not reduce the huge inflow of legal, illegal, and quasi-legal migrants arranged by President Joe Biden’s pro-migration border chief. She has also been supported by many wealthy California investors who gain from massive migration, and by many progressives who use immigration to forcibly diversify the nation’s populist culture.

Harris’s economic plan offers few strategies for growing the economy aside from more migration.

The report also seems to greatly understate the pre-election inflow allowed by Biden’s border chief, the Cuban-born Alejandro Mayorkas. In July, for example, Mayorkas allowed roughly 170,000 migrants through the southern border, at a rate of about 2 million people per year. That inflow is in addition to the legal inflow of 1 million, and the inflow of short-term workers, which includes about 500,000 blue-collar workers, and roughly 500,000 white-collar workers.

Since January 2021, Biden’s deputies have imported almost 10 million legal and illegal migrants. That huge inflow adds three migrants for every four American births during the same period.

Mayorkas is working hard to expand the inflow of foreign graduates, partly because the migrants are helping subordinate better-paid American professionals to the investors’ executives.

Trump has promised to help Americans by shutting down the supply of southern migrants, and by deporting some of the roughly 15 million illegals. But he has also made and withdrawn various claims to donors since 2015 about importing more white-collar workers.

Trump’s zigzags have helped keep vital support from wealthy donors but have also narrowed his polling advantage on immigration.

Trump has also promised to help young Americans by excluding illegal migrants from the U.S. housing market.

The Goldman Sachs report does not mention the productivity and income gains for Americans that emerge as employers lose access to extra cheap labor.

Originally Posted At www.breitbart.com

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President Joe Biden and Vice President Kamala Harris’s wave of mass immigration is raising housing costs, straining healthcare services, and filling public schools in middle American cities like Springfield, Ohio.

As Breitbart News has chronicled for over a year, the Biden-Harris administration has helped flood Springfield — with a population of less than 60,000 residents — with roughly 20,000 Haitian migrants.

For months, Sen. JD Vance (R-OH), now former President Donald Trump’s running mate, has been calling attention to Springfield as an example of mass immigration raising housing costs for Americans.

“This self-imposed disaster is crushing the job prospects of our citizens, making it more difficult for Ohio families to find homes and draining social service programs funded by American taxpayers,” Vance said last year.

A report from the New York Times recently admitted that mass immigration has made Springfield’s housing issue much worse:

Michelle Lee-Hall, executive director of Springfield’s housing authority, said that the affordability problem had been aggravated by landlords pivoting to Haitians who were willing to pay higher rent. [Emphasis added]

…

“Here in Springfield, the new homeless are people who can’t afford to pay $2,000 or $3,000 a month in rent,” she said. [Emphasis added]

One particular house flipper in Springfield told the Times that of his 400 housing units, 8-in-10 are occupied by newly arrived Haitian migrants.

It is not only housing costs that are causing problems for Springfield, brought on by mass immigration. Healthcare services are being pushed to the brink, where once 15-minute consultations are now 45 minutes in some cases as English-speaking healthcare workers navigate how to communicate with an influx of French-speaking Haitian migrants.

“This is not sustainable,” the chief executive of a healthcare center told the Times. noting that many of her staff had left following burnout. The center has had to hire translators and French-speaking staff, which has skyrocketed costs.

Springfield’s public schools are also seeing the results of mass immigration.

Registration day in the Springfield City School District, the Times reports, was filled with the families of Haitian migrant children.

Of the almost 350 new students enrolled in the district this year, the overwhelming majority are the children of newly arrived Haitian migrants. School administrators are concerned about how the district will deal with the growing influx of migrant children.

According to the latest figures from the Congressional Budget Office, the Biden-Harris administration has welcomed more than nine million migrants to the United States since the start of 2021 — the equivalent of importing nearly the population of Honduras in less than four years.

John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here. 

Originally Posted At www.breitbart.com

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President Joe Biden and Vice President Kamala Harris have funneled over a million foreign workers into United States jobs while native-born Americans continue to fall out of the workforce.

The latest Bureau of Labor Statistics report for August reveals the extent to which Biden and Harris’s mass migration agenda has significantly impacted the nation’s labor market — tilting it in favor of newly arrived migrants released into the United States interior from the southern border.

Over the last year, the report states, about 1.24 million foreign workers have secured jobs, while during the same period, 1.32 million fewer native-born Americans now hold U.S. jobs.

“[August] jobs report shows more pain for native-born Americans, who’ve lost more than 1.3 million jobs over the last year, while foreign-born workers have gained over 1.2 million jobs – the American worker has been left behind in this “recovery,” Heritage Foundation Economist E.J. Antoni writes.

Since 2019, before the Chinese coronavirus pandemic shut down the U.S. economy, foreign workers have overwhelmingly won out in the workforce compared to native-born Americans.

“Employment among foreign-born workers has increased 4.4 million since pre-pandemic (and is back on trend) while jobs among native-born Americans have fallen 833k over that same time — literally no progress in 5 years,” Antoni notes.

During a speech on Friday, former President Donald Trump blasted the Biden-Harris administration over the jobs report.

“So foreigners coming in illegally, largely illegally into our country, took the jobs of native-born Americans and I’ve been telling you that’s what’s going to happen,” Trump said.

In July, a Pew Research Center study found that as of 2022, more than 30 million legal immigrants and illegal aliens were holding U.S. jobs — a 20-percent increase over the last 15 years. During the same period, the number of native-born Americans who have been added to the workforce has increased by less than 10 percent.

John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here. 

Originally Posted At www.breitbart.com

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