I remember telling a co-worker in 1980, “This generation belongs economically to Japan, and militarily to the Soviet Union. The next generation belongs economically and militarily to Communist China.” Obviously I was mistaken about Japan and the USSR. I may still be right about Communist China. The average IQ of the Chinese seems to be higher than the average IQ of Americans. There certainly are a lot more Chinese. In order to counter the possible threat of Communist China the United States should cultivate friendlier relations with countries that have more to fear than we do from an aggressive, expansionistic Communist China. These countries include India, Russia, Mongolia, Vietnam, Taiwan, South Korea, and Japan. Unfortunately, the Bush Administration has reduced respect and affection for the United States throughout the world. President Bush’s incompetent command of the War in Iraq makes it clear that the United States can lose a war. After the Gulf War and the War in Bosnia the U.S. military seemed undefeatable.
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If you own your home, mortgage free, and if you derive your income from rent, interest payments, and dividends, you benefit from a high rate of immigration. If you rent a place to live and work for a living you pay the price.
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Immigration is an issue that divides the economic elite of both parties from the rank and file. When limousine liberals think of immigrants they think of the Statue of Liberty, “huddled masses yearning to breathe free,” and so on. Rich Republicans think of becoming richer Republicans, because that is what a high rate of immigration enables them to do. By the law of supply and demand a high rate of immigration lowers wages and increases prices, especially the price of a place to live. As a result, it raises profits.
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Prove it.
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every point you made, except with respect to the depreciating dollar, is factually incorrect.
An Examination of Why Externalities Don't Matter and Why the Market is the Only System Capable of Ordering Human Affairs Without Implicating the Subjective Values of a Central Decision-Maker
