Tag: economy

It’s the Economy, Estúpido

Of course, it’s still too early to know if Trump will destroy the American economy the way that he has destroyed the lives of thousands of immigrants, portions of the environment, and America’s image and reputation.

But certainly it is a bit disquieting that for the first time in seven years, the United States is losing jobs. To be fair, much of that has to do with the devastation that a cataclysmic (yet somewhat predictable) series of hurricanes has inflicted on the country.

In any case, if one is striving to boost economic growth, it is not a good idea to piss off Latinos. After all, the “U.S. Latino GDP is growing 70 percent faster that the country’s non-Latino GDP.” Furthermore, Hispanics have higher rates of entrepreneurship than other groups, and remain one of the fastest growing demographics in America.

So a sane leader would look at those facts and say, “Damn, these guys are the future, and our nation’s economic growth is intrinsically tied to their financial well-being.”

But come on, we’re talking about a small-fingered, narrow-minded, black-hearted demagogue who doesn’t even understand basic economics. Therefore, it’s little surprise that he has continued to focus his ire on Latinos, with devastating consequences.

For example, “retail sales to Hispanics are tumbling, as immigrants fearful after the election of President Donald Trump stay home and hoard their cash.”

In addition, many labor market measures show that Latinos “have not totally recovered from the Great Recession.”

And when it comes to confidence (consumer or otherwise), keep in mind that “67 percent of Latinos disapprove of the job Trump is doing. By comparison… 54 percent of all adults in the country disapprove of Trump’s job in office.”

Taken together, we see a president who is determined to alienate Latinos, who are of course, crucial to the economic functioning of this country. And we see Hispanics unable to fulfill their true potential because they are too busy fending off the political and cultural assaults of a man so unstable that even his fellow Republicans believe that he is “unraveling.”

All of this could help to sink the economy. And we’re not even talking about the price tag for his idiotic wall that will never happen.

But don’t get me started on that.

 


Debunked

We all know math can be scary. In fact, I recently wrote about how intimidating all those numbers and figures can be.

But math is never more terrifying than when it crushes our deeply held beliefs and contradicts our political agendas.

For example, a recent study has shown that despite all the screaming and cries of calamity from the right wing, immigrants are not taking Americans’ jobs.

no-stealing

The study “found little to no negative effects on overall wages and employment of native-born workers in the longer term.” Basically, this means that when the GOP candidate for president slams immigrants — especially Latin American ones — he has no idea what he is talking about.

Of course, we all knew that already, but it’s nice to have hard data confirming that the guy is a lying shithead.

In any case, the report went on to state that immigration is “integral to the nation’s economic growth” because immigrants “bring new ideas and add to an American labor force that would be shrinking without them, helping ensure continued growth into the future.”

Specifically, high-skilled immigrants, especially in technology and science, have a significant “positive impact on Americans with skills, and also on working-class Americans. They spurred innovation, helping to create jobs.”

Furthermore, by flipping this argument on its head, we see that the GOP candidate’s plan to deport undocumented workers “would result in four million lost jobs by 2030.”

OK, so it’s settled that immigrants are not stealing jobs, and in fact, they may be kickstarting the economy to create new ones.

But what about that side claim that immigrants cost the US government bazillions of dollars each year in handouts and “free stuff”?

Well, the math is a little fuzzier on this one, and it may be true that recent immigrants cost more in government expenditures. However, any deficit is gone by the time the second generation (i.e., kids of immigrants) enters the work force, and “by the third generation, immigrant families contribute about $223 billion a year to government finances.”

The bottom line is that the net effect of immigration is positive, especially when one looks at the long term.

So I’ll ask again — don’t you just love math?

 


Not Exactly a Golden Age

So here’s a question: Are you among the half of Americans (49 percent, to be precise) who say racism is “a big problem” in society today?

I know I am.

And I also know that I would prefer to be among the 7 percent of Americans who say racism is “not a problem at all.” When referring to those people, I speak for the rest of us when I say, “I’ll have what they’re having,” because they clearly possess some serious alcohol.

Drunk-guy

The recent survey revealed that prejudice and bigotry remain societal ills, and “in every demographic group surveyed, there are increasing percentages of people who say racism is a big problem — and majorities say that racial tensions are on the rise.”

The percentage of Americans who feel this way is higher than it was 20 years ago, when 41 percent said racism was a big problem. As recently as 2011, that percentage was down to 28 percent, suggesting a rebound effect, or perhaps racial good feelings simply plateaued a few years back.

Of course, Americans may agree that racism is worse, but as the report states, they often “disagree profoundly on who the targets and victims are.”

Ethnic minorities have historically been the objects of racial prejudice. However, white Americans often feel that they are being discriminated against, a perplexing development that, according to the report, can be traced to “simmering rage fueled by the backlash of Obama’s election, the economic struggles of lower- and middle-income whites, and demographic shifts across the country.”

Because of this, the report says, “latent racism is becoming more open, because a lot of people are feeling threatened.”

Now to be clear, most white Americans do not feel that they are the targets of racial scorn. In fact, just 43 percent of white people say racism is a huge concern.

But 64 percent of my fellow Latinos say racism is a big problem, slightly less than the 66 percent of blacks who say the same thing.

Those numbers should tell you all you need to know about how race is perceived in America.

So is there hope for the future? Well, supposedly, the Millennials were going to eliminate racism once and for all because they’re all, you know, ethnically mixed and down with diversity and come from multiracial families, and are in general far hipper than Gen X or the Baby Boomers could ever dream of being.

Um…but another recent study showed that “despite the Millennial reputation for inclusiveness, young white Americans don’t have especially multicultural friend groups.” In fact, two-thirds (68 percent) of whites age 18-34 say, “they overwhelmingly associate with other whites.”

By the way, the same is true of just 37 percent of Millennial Hispanics and 36 percent of Millennial blacks.

So this might take a while.

 


#MoreThanALabel

Recently, the good people at Simmons College asked me to take part in their blog carnival.

carnival-1

Well, how could I say no to anything with the word “carnival” in it? Will there be rides? Will there be virtual cotton candy? Can I get my picture taken next to the bearded lady? (Note: it is no longer socially acceptable to make fun of women with facial hair, so please mentally delete that last sentence).

In any case, it turns out that the blog carnival is part of the #MoreThanALabel campaign to shine a positive light on immigrant communities, defy labels, and combat the stigmas of being an immigrant.

Now, I am not an immigrant. I was born in New York City, which many conservatives will tell you is not part of the “real America,” but alas for them, it technically counts as the USA.

As I’ve stated many times, being born here is not an accomplishment. It is pure luck.

However, my mother is an immigrant. She came here from El Salvador in the late 1960s, and she has now been an American citizen for longer than she was a resident of her native land.

Many of my cousins are immigrants. They came here as kids and have become citizens, started careers, and raised their own children.

One of my cousins has done multiple tours of duty in Iraq and Afghanistan. I mean, really, how patriotic can you get?

But ultimately, it doesn’t matter how successful the immigrants in my family have been. Nor does it matter that immigrants have lower crime rates than native-born Americans. And it doesn’t even count that immigrants pay plenty of taxes and have a net positive impact on the economy.

That’s because a huge percentage of Americans are convinced that their lives suck because of all those people who were born south of Texas. And those Americans cannot be reasoned with.

So while it’s great that the #MoreThanALabel campaign is working to improve the image of immigrant communities, I’m just too cynical to contribute much of an uplifting narrative.

You see, I’m through with trying to convince xenophobes that immigrants belong in America. That is backward logic. It is the racists who represent the worst of the USA, and they always have.

And before everybody gets crazy, let me issue an obvious disclaimer: I’m not saying that everyone who has issues with immigration reform or is a conservative is a racist. Again, I’m not saying that. It would be absurd.

But the racial element is there, winding around the debate. It makes movements like #MoreThanALabel a necessity. No other group has to take such great efforts to convince a segment of the American population that they are human beings.

Still, the good news is that immigrants will persevere. Each new generation of arrivals struggles to its feet and establishes itself as part of American culture. It is an inevitable process, and it will go on and on.

So, if you need me, I’ll be hitting this blog carnival’s Tilt-a-Whirl. See you there.

 


Put It on My Tab

A friend of mine once cut up her credit cards and closed her accounts because, she said, “those pieces of plastic are evil.”

creditcards

I thought this was a bit overly dramatic (she was that type of person). I also thought it was convenient to blame her chronic debt on inanimate objects rather than, say, her nonexistent self-control and materialistic tendencies.

In any case, we all know people who live beyond their means, and it’s true that many individuals teeter on the edge of bankruptcy because of their shopping addictions or love of new shoes or willingness to fly first-class to Italy for the hell of it.

But a recent study has found that when it comes to Hispanics, living large is often not the reason for going into the red. The study found that almost half (43%) of Latinos who have credit card debt depend on the plastic to pay for basic living expenses. And a significant chunk of the rest are using credit cards for tiny splurges at best.

So if Latinos are not slapping down credit cards on impulse buys and charging luxury items, why are they in so much debt?

Well, Hispanics report that the main reason for their debt is the loss of a job, and they’re more likely than other groups to say that medical costs also contributed to their financial issues.

The researchers theorize that because Latinos lost so much of their wealth in the Great Recession, they’re having trouble restocking checking or savings accounts. So putting basic items or medical expenses on credit cards often seems to be the only option.

This, of course, sucks. But as is often the case, the survey also found that Latinos are more optimistic than the overall population. So they’re more confident about paying down their credit card debt quickly.

This optimism, which borders on delusion, leads to some interesting contradictions.

For example, another poll found that almost half of Latinos (49%) said they were worried that someone in their household might become unemployed soon. Yet the same survey found that almost three-quarters of Latinos (73%) are optimistic about their finances and future opportunities.

Frankly, that’s a bizarre balancing act of fear and hope.

But maybe these results just show that Latinos are still jumpy about their financial status, years after the economic meltdown. The Great Recession so ravaged Hispanic households that many Latinos are leery about declaring that the worst is over.

At the same time, Latinos tend to be more optimistic than other groups about their future. The main reason for this positivism seems to be the immigrant mindset. Many Hispanics remember struggling in their home countries, or they hear the harrowing tales of their parents. As such, these Latinos usually have more faith in the American system and a stronger belief that their financial situation will improve.

We should all really, really hope they’re right.

 


Hard Times

The recession has been over for some time now, and the economy is booming… wait. You say, it’s not booming unless you’re rich?

Well, if you’re still feeling pinched, maybe it’s the fault of individuals heavy on the melanin. The odds are pretty good that you blame them anyway.

pointing

You see, a new study has shown that Americans “become subconsciously more prejudiced against dark-skinned people when times are tight.”

That’s right. On top of devastating the country, wiping out many people’s savings, and increasing the obscene gap between the wealthy and the rest of us, the Great Recession may have had the side effect of increasing racial tension.

To continue reading this post, please click here.

 


Nanny State

If you’ve ever driven around my current hometown of Los Angeles, you know that Latinas pushing strollers of white, blue-eyed children is a common sight. These women are usually nannies, and they get paid to raise the kids of movie stars, TV executives, and Beverly Hills trust fund millionaires.

Well, ok, not everyone who hires a nanny is a pampered one-percenter. In fact, my wife and I, who are laughably far from being rich, are looking for part-time help with our infant son. So we’ve been interviewing potential caregivers.

By the way, if you would have told me a decade ago that I would be enthusiastic about baby spit-up and diaper changes, I would have gulped my beer, waved off the tattoo artist working on my shoulder, and told you to crank up the System of a Down and stop talking nonsense. But that was another life.

To continue reading this post, please click here.

 


Show Them the Money

I used to write for a website whose target audience was upscale Hispanic men. My job was to find the hippest, most happenin’, muy caliente places and products.

Of course, I soon grew weary of writing for guys who think $5,000 stereo speakers are their god-given right. But I also got tired of explaining the gig to people who asked, “Just how many rich Latino guys can there be?”

To continue reading this post, please click here.

 

 


Party On

Due to unusual circumstances that I won’t even get into, I found myself at a ritzy event, surrounded by wealthy individuals. I happened to be standing near the door, and I saw members of the one percent walk in.

For the most part, they were polite and just like you and me. However, the exceptions were numerous enough to notice.

To continue reading this post, please click here.


Remember, Envy Is a Deadly Sin

“There’s class warfare, alright. But it’s my class, the rich class, that’s making war. And we’re winning.”

—Warren Buffett

Eat the rich!

—Aerosmith

In Manlio’s Argueta’s gripping novel, One Day of Life, soldiers of a repressive Central American government beat and abuse poor villagers. The peasants’ crime, as one militaristic thug puts it, is that “they don’t love the rich.”

It’s a rather harsh reaction to expressing displeasure with the ruling class. We haven’t come to that in the United States, at least not yet.

Still, the concept of class warfare, invoked primarily by right-wing politicians, holds that middle-class and poor people are simply jealous of rich individuals, or that they are being riled up to hate the wealthy.

To continue reading this post, please click here.


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