It appears former Federal Reserve chairman, Alan Greenspan, is mad at America’s youth labeling them as a work force that ‘doesn’t shape up’ to the very productive baby boomer generation.
He is irked by the 25-year old set that have scored poorly academically when compared to their foreign counterparts. In addition he notes that their average income is lower compared to what the baby boomers was and their productivity is poor and declining. To add insult to injury he notes that their income is being protected and therefore subsidized by immigration policy that keeps out the more qualified immigrant worker.
Translation you are lazy, aren’t too smart and the only reason you have a job is that America is keeping out your competition!!!
Ouch – with friends like this who needs enemies.
Greenspan did give a nice shot out to the hard working immigrants that apparently he thinks can do a better job than America’s youth.
He goes as far as suggesting American’s companies should hire highly skilled immigrants to turn the tide of a poorly performing economy.
‘Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States,’ he said.
‘But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
‘My view is that we should give a green card to every immigrant who gets an advanced degree in the United States.
‘The proportion of those people who will be terrorists is minuscule. That would have a major positive economic impact.’