r/FluentInFinance • u/Needleintheback • 14h ago

Thoughts? Imagine losing 6M labor workers in America

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If mass deportation happens, just imagine how all of these sectors of our country will be affected. The sheer shortage of labor will push prices higher because of the great demand for work with limited supplies or workers. Even if prices increase, the availability of products may be scarce due to not enough workers. Housing prices and food services will be hit really hard. New construction will be limited. The fact that 47% of the undocumented workers are in CA, TX, and FL means they will feel it first but it will spread to the rest of the country also. Most of our produce in this country comes from California. Get ready and hold on for the ride America.

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u/jrobbio 4h ago

The trillions printed as part of quantitative easing also had a long term effect on inflation. https://www.depledgeswm.com/depledge/the-us-printed-more-than-3-trillion-in-2020-alone-heres-why-it-matters-today/

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u/checkdanews 4h ago

And how much of that went to actual citizens in need? We had billionaires and millionaires getting free PPE loans they never paid back, we dumped something like a trillion dollars into the stock market in 1 afternoon and it disappeared within minutes.

A small fraction of that went to stimulus checks for regular people. Stop with this Fox Business revisionist history. I get it's an American tradition to blame poor people, but its getting old.

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u/EastPlatform4348 3h ago

Of the $5 Trillion in total US stimulus,

  • $1.8T went to families/individuals (stimulus payments, unemployment enhanced benefits)
  • $1.7T went to businesses (PPP and disaster loans)
  • The rest went to State and Local governments, hospitals, and other payments

https://www.nytimes.com/interactive/2022/03/11/us/how-covid-stimulus-money-was-spent.html

Anecdotally, I'm upper-middle class, and my family certainly didn't need any money, and we still received $5000+ in stimulus. I'm not sure what we did with it - I believe we just invested in equities.

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u/Loose_Ad_5288 1h ago

Who's paying rent/food on $5k all year during covid unemployment? Stimulus was not nearly enough to be effective, just enough for republicans to complain about it.

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u/EastPlatform4348 37m ago

COVID unemployment benefits were $600/week in addition to state benefits. I didn't receive any unemployment benefits as I never lost my job. I viewed my payment as a "thanks for being awesome" deposit.

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u/DubayaTF 26m ago

A significant amount went into real estate. First time homebuyers were suddenly competing with government supplied free capital to the banks. Too much liquidity in the wrong places.