I'm no economist and my stint as a reporter at The Wall Street Journal was years back now. But you don't have to be a business expert or a rocket scientist to know when a newspaper byline is total bulls***.
Should we really believe that 20 million people purchasing luxury goods such as jewels, fashion, yachts, private planes and lavish international travel will be a major boost to the U.S. economy! Come, on.
By doubling exports, the Obama administration figures foreign consumers will fill the spending gap. Problem is, most other economies also relied on American consumers. High production and low demand could spell a trade war.
Only 5,000 green cards a year are issued to low-skilled workers seeking permanent residence. Clearly, we should expect a black market in labor to arise when demand for workers far exceeds the legal supply.