That was an interesting piece for me to read. Gave me a much needed perspective on some aspects of the Trump admin I haven't considered could be positive. Actively trying to remove any partisan blinders as I dive deeper into finance so I can analyze everything from a more rational perspective.
Mike, I really appreciate the way that you use deep, thought-provoking analysis to highlight the societal impacts and the human experience we are sharing. Thank you!
I'd like to point out that the secretary of homeland security can waive this decision and dispense the visa cost at their discretion. It's just more grift.
Almost every policy will have that exception. It IS possible it’s a grift exception. It’s also possible it’s there to address national security issues and the “social need” position shortages that I highlight.
We are walking a tightrope between cynicism and naïveté. I provided clear economic arguments why this may be a very positive policy, as I believe (logically) constructed tariffs to be.
Trump has many failings. His chaotic approach being the most notable. But those failings often engender a knee jerk response to proposed policies, eg “kids back in school”, rather than a thoughtful evaluation.
Hopefully, I at least give you pause in your judgment.
Aaahhh, the penny has just dropped. All those profiles in that dating website I'm on are phantom profiles. I feel much better about myself now. On a serious note, I cannot remember if it was you Michael or Danielle who was saying this, or maybe I misunderstood what was being said, but say I claim unemployment benefits and my 26 weeks are up, am I now not counted in the official continuing unemployment claims?
Someone should make a list of things that were guaranteed to collapse the American economy that seem to work just fine. Higher rates from the Fed, tariffs, closing the border, and now H1Bs.
Isn't it a remarkable coincidence that whatever-we're-doing-now, even if we started doing it recently, is the only possible way to do it or we risk economic doom?
GDP growth = employee growth + productivity growth. H1-B visas do both. The top few percent of China & India's 2.8 billion population provides a lot more smart and driven people than the top few percent of US's 340 million. H1-B's create sufficient mass for clusters of genius to innovate and execute. They are what has enabled the US to lead the Western world in innovation and growth. They will be more important in a world of falling birth rates. Welcome them.
I'm all for a better method of visa distribution, but dramatically raising price generally lowers demand and quantity. If we're worried about the cost of college, then subsidize it much more, like it was when I was a teenager. If we're worried about rent, then build more housing.
Kent, it’s disappointing I failed to convince you otherwise. I believe the evidence is pretty clear that by turning the H1-B into a random lottery rather than a high probability recruitment tool, we have done the opposite of attract “talent.”
Unfortunately I think the equation you posted ignores many important variables. Social discord, safety net costs for un-and under-employed Americans, not to mention relying on a labor source that can be taken from us by a higher bidder in the future.
The libertarians and free-trade-absolutists have convinced themselves that a nation is simply the product of a complex economic equation, but it is not. Look no further than China. The only country to come close to America's economic power, yet two very different nations in character and deed.
Well said. GDP is an outdated, overrated measure of living standards if you ask me. Using GDP growth as an argument to degrade living standards through mass immigration is neither valid or intellectual.
That was an interesting piece for me to read. Gave me a much needed perspective on some aspects of the Trump admin I haven't considered could be positive. Actively trying to remove any partisan blinders as I dive deeper into finance so I can analyze everything from a more rational perspective.
Thanks Mike.
Mike, I really appreciate the way that you use deep, thought-provoking analysis to highlight the societal impacts and the human experience we are sharing. Thank you!
As someone who is currently paying the $120,000 cost each for two American future workers, this resonates.
I'd like to point out that the secretary of homeland security can waive this decision and dispense the visa cost at their discretion. It's just more grift.
Almost every policy will have that exception. It IS possible it’s a grift exception. It’s also possible it’s there to address national security issues and the “social need” position shortages that I highlight.
We are walking a tightrope between cynicism and naïveté. I provided clear economic arguments why this may be a very positive policy, as I believe (logically) constructed tariffs to be.
Trump has many failings. His chaotic approach being the most notable. But those failings often engender a knee jerk response to proposed policies, eg “kids back in school”, rather than a thoughtful evaluation.
Hopefully, I at least give you pause in your judgment.
Thanks Mike. Your thoughts and well-reasoned insights are so valuable to all of us.
Aaahhh, the penny has just dropped. All those profiles in that dating website I'm on are phantom profiles. I feel much better about myself now. On a serious note, I cannot remember if it was you Michael or Danielle who was saying this, or maybe I misunderstood what was being said, but say I claim unemployment benefits and my 26 weeks are up, am I now not counted in the official continuing unemployment claims?
Beyond eligibility, typically 26 weeks but extended to 99 in GFC, you are not counted as continuing unemployed.
Someone should make a list of things that were guaranteed to collapse the American economy that seem to work just fine. Higher rates from the Fed, tariffs, closing the border, and now H1Bs.
Isn't it a remarkable coincidence that whatever-we're-doing-now, even if we started doing it recently, is the only possible way to do it or we risk economic doom?
"Experts" indeed.
GDP growth = employee growth + productivity growth. H1-B visas do both. The top few percent of China & India's 2.8 billion population provides a lot more smart and driven people than the top few percent of US's 340 million. H1-B's create sufficient mass for clusters of genius to innovate and execute. They are what has enabled the US to lead the Western world in innovation and growth. They will be more important in a world of falling birth rates. Welcome them.
I'm all for a better method of visa distribution, but dramatically raising price generally lowers demand and quantity. If we're worried about the cost of college, then subsidize it much more, like it was when I was a teenager. If we're worried about rent, then build more housing.
Kent, it’s disappointing I failed to convince you otherwise. I believe the evidence is pretty clear that by turning the H1-B into a random lottery rather than a high probability recruitment tool, we have done the opposite of attract “talent.”
Unfortunately I think the equation you posted ignores many important variables. Social discord, safety net costs for un-and under-employed Americans, not to mention relying on a labor source that can be taken from us by a higher bidder in the future.
The libertarians and free-trade-absolutists have convinced themselves that a nation is simply the product of a complex economic equation, but it is not. Look no further than China. The only country to come close to America's economic power, yet two very different nations in character and deed.
Well said. GDP is an outdated, overrated measure of living standards if you ask me. Using GDP growth as an argument to degrade living standards through mass immigration is neither valid or intellectual.