06 Feb Anytime you’re going to invest

Former Fed chairman Alan Greenspan a co creator of the housing, asset and credit bubbles that began bursting in 2008 indicated in his 2009 testimony to the Senate Judiciary Committee Subcommittee on Immigration, Refugees and Border Security that increasing immigration lower wage premiums of skilled over lesser skilled workers. In other words, increasing immigration would decrease the income of a large part of the working class Americans who Greenspan calls the elite whose incomes are being supported at noncompetitively high rates by immigration quotas. Prepared testimony of Greenspan, an advocate of increased immigration, seems to indicate our Social Security and Medicare funding problems can be fixed by lowering the average worker compensation.

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