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US presidential candidate <keyword id="19918985" type="General" weightage="20" keywordseo="Donald-Trump" source="keywords">Donald Trump</keyword> has gone from suggesting that immigrants were poisoning the blood of the country to saying that he would welcome immigrants from “nice” countries like Denmark, Switzerland and Norway to his most recent plans of automatically granting green cards to <keyword id="22128571" type="General" weightage="20" keywordseo="foreign-graduates" source="keywords">foreign graduates</keyword> of US colleges in a rather short duration of time. Feeling a little whiplashed, anyone? Securing a green card in the US is a Herculean task whose difficulty is probably comparable to capturing and bringing back Cerberus. And this legal permanent residence, which can sometimes take decades, is only the first step to becoming a US citizen. Many Indians have tried, whether it’s through residing and working for decades, navigating rather lengthy paperwork or marrying someone who is already a US citizen. Sadly, many have failed too. However, should Donald Trump become the President of the United States again (and decide to keep his word), Indian students might actually have an easier time getting a green card. In a surprising shift from his previous stance on immigration, former President Donald Trump has unveiled a bold plan to automatically grant green cards to foreign graduates of US colleges if re-elected. This announcement, made during a podcast interview with Silicon Valley investors, marks a departure from Trump's traditionally tough rhetoric on immigration. During the podcast hosted by Chamath Palihapitiya and others, Trump expressed his commitment to retaining talent educated in American universities. He argued passionately for granting green cards as a standard benefit for graduates, regardless of the institution they attended. Trump emphasised that this policy should encompass graduates from renowned institutions like Harvard and MIT as well as from junior colleges across the country. “It’s so sad when we lose people from Harvard, MIT, the greatest schools, and lesser schools that are phenomenal schools also,” Trump lamented on the All-In Podcast. “I think you should get, automatically, as part of your diploma, a green card to be able to stay in this country and that includes junior colleges, too.” A green card affords its holder permanent residency rights in the United States and represents a crucial step towards citizenship. Trump's proposal, if enacted, could potentially introduce hundreds of thousands of new applicants for citizenship annually. Adding to the exodus of Indians who have already migrated to the US, over 200,000 Indian nationals are enrolled in institutes across the US in 2024, setting a new record. In fact, the significant surge in Indian students seeking education in the country between 2022-23 represented an unprecedented 35% increase from the year before that. The former US president specifically mentioned India and China, highlighting how talented individuals were unable to stay in the US because of current <keyword id="22151110" type="General" weightage="20" keywordseo="visa-policies" source="keywords">visa policies</keyword>. We can see how this may show him in a favourable light for green card aspirants. And while we’re not one to look a gift horse in the mouth, it is important to remember that Trump has made his discriminatory nature very public in several instances. Immigration has been a hot topic in the US political arena for decades. However, in recent years, the political right and others have been more divided than ever on this issue. Republicans have been calling for stringent immigration policies and strict border protections. Therefore, even if Trump does deliver what he promises, the packaging will most likely have fine print that might continue to make it difficult for students to attain green cards. In fact, the presidential candidate’s campaign press secretary, Karoline Leavitt, has already clarified that Trump's proposal would only apply to thoroughly vetted college graduates who can “make significant contributions” to America and would not undercut American wages or workers. She emphasised that Trump has outlined the most aggressive vetting process in US history to exclude "all communists, radical Islamists, Hamas supporters, America haters and public charges." Anyhow, Trump’s proposal starkly contrasts with Trump's previous hardline stance on immigration, which had been a cornerstone of his political platform. During his presidency, Trump advocated for stringent immigration policies, including the largest deportation campaign in US history, aimed at undocumented migrants, and building a wall on the southern borders of the country. Trump intensified restrictions on legal immigration amid the pandemic and his final year in office. He proposed halting all immigration to the US and deporting foreign students who didn't attend some in-person classes. A month before the 2020 election, Trump once more moved to tighten regulations on the <keyword id="20773661" type="General" weightage="20" keywordseo="H-1B-visa" source="keywords">H-1B visa</keyword> program. He has also criticised the H-1B visa program, which tech companies favour for hiring foreign skilled workers, as detrimental to American prosperity. The H-1B visa is a non-immigrant visa allowing US firms to employ foreigners in specialised occupations requiring theoretical or technical expertise. At a recent campaign event in Wisconsin, Trump criticised Biden's immigration policies, particularly lambasting a new program allowing undocumented spouses of US citizens to apply for permanent residence without leaving the country. Trump characterised immigration under Biden as an "invasion" and argued against discussing amnesty, urging instead for measures to halt what he perceives as an influx of unauthorised migrants. Estimates from the Department of Homeland Security suggest that approximately 11 million migrants currently reside in the US without authorization, a statistic that has been central to Trump's arguments against leniency in immigration policy.

Donald Trump strikes again: Ex-President proposes automatic green cards for foreign graduates of US colleges

<ul class="summary-list"><li>Donald Trump has pledged to lead a mass deportation campaign once elected.</li><li>That would create a major labor crunch for homebuilders, driving wages and costs higher.</li></ul>Donald Trump's vow to crack down on immigration doesn't bode well for priced-out homebuyers.The Republican presidential candidate has promised to lead the largest deportation campaign in US history if reelected. By one estimate, that could involve deporting up to <a target="_blank" href="https://www.businessinsider.com/trump-deportation-immigration-plan-impact-recession-risk-inflation-stagflation-labor-2024-6">1.2 million</a> people, though as many <a target="_blank" href="https://www.piie.com/blogs/realtime-economics/2024/trump-vs-harris-immigration-future-policy-proposals#_ftn1">11 million undocumented residents</a> live in the country.While there's room to debate the plan's feasibility, what's certain is that a sudden drain of the immigrant workforce could significantly hinder construction in the US, igniting deeper unaffordability for home market buyers.<h3 id="a76ec574-ba23-4a94-92de-608c0047e53f">A critical homebuilder workforce</h3>"If we did see mass deportations, I do think it would have a chilling effect on the labor market," Jim Tobin, CEO of the National Association of Home Builders, told Business Insider.He said immigrants are a critical component of the industry, as they help relieve a serious shortage of skilled labor. Foreign-born construction workers, who make up as much as a third of the sector's labor force, are often concentrated in specific trades required to build a home, such as plasterers and drywall installers, the Home Builders Institute <a target="_blank" href="https://hbi.org/wp-content/uploads/2024/06/Spring-2024-CLMR-HBI-NAHB-FINAL.pdf">reported</a>."We consistently see government data showing that we are anywhere between 200,000 to 400,000 workers short in our industry and that lack of skilled labor slows down the pace of construction, drives up labor costs, and ultimately leads to higher home prices, and a slower pace of home building," Tobin said.A <a target="_blank" href="https://gwbushcenter.imgix.net/wp-content/uploads/Immigrants-and-Opp-3.pdf">2022 George W. Bush Institute</a> study found that US metros with the highest immigrant population growth scored the lowest construction costs.Without the supply of these workers, history suggests housing costs are likely to rise.According to a <a target="_blank" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4729511">research paper</a> released earlier this year, home prices were found to rise in counties impacted by an immigration crackdown that spanned from late 2008 to 2014. The US "Secure Communities" program led to the deportation of over 300,000 undocumented immigrants in that time period, it cited.Given the pace of homebuilding, price effects were muted for two years after enforcement began, the study said. However, three years later, the average new construction property became 17% more expensive among tracked counties compared to the baseline.That translates to a $57,300 jump compared to the average property price before the program's implementation."Three years after SC rollout, the average county has foregone the equivalent of an entire year's worth of additional residential construction: 2,423 fewer buildings are permitted, and 1,997 fewer newly constructed homes enter the market," the authors wrote.Considering how wide-sweeping the Trump campaign's deportation effort could be, experts told BI that homebuilders would likely resort to wage hikes to attract domestic workers. These could be significant, given that the construction industry would be competing against other immigrant-dependent sectors.According to Tobin, mass deportation would also require the industry to redouble its efforts in attracting new domestic interest in the trades. "Whether that's kids coming out of out of high school, or adults that are looking for a new career, transitioning military that are coming out of the service. We would have to look at previously incarcerated."<h3 id="2780f5cd-9b64-4a83-a2ce-4c3dee812acf">What about demand?</h3>Trump's campaign has implied that cracking down on immigration will help ease housing unaffordability by effectively removing one source of demand. It's a talking point recently made by Vice President candidate JD Vance, who blamed "<a target="_blank" href="https://www.cbsnews.com/news/jd-vance-debate-immigration-housing-prices-real-estate-federal-reserve/">millions of undocumented immigrants</a>" for adding pressure on a supply-constrained housing market.While research has suggested immigrant demand plays a role in influencing prices, economists generally doubt that this is a <a target="_blank" href="https://www.nytimes.com/2024/10/11/business/economy/trump-housing-crisis-deportations.html">major driver</a>. Rents and home prices started surging in 2020 and 2021, at a time when net immigration inflows were close to the two-decade average, as tracked by the <a target="_blank" href="https://www.cbo.gov/publication/60569#:~:text=Over%20the%202021%E2%80%932026%20period%2C%20the%20net%20immigration%20of%20people,net%20immigration%20of%20that%20population">Congressional Budget Office</a>.Meanwhile, Trump's platform is also pushing another policy initiative that's unlikely to help housing costs: tariffs. The candidate has pledged to raise duties on virtually all imports to the US, raising them as much as 60% on Chinese imports."If you're going to add tariffs onto building materials, that cost is just going to be passed along to the homeowner or the renter," Tobin said, citing that there's a lack of evidence that tariffs will meaningfully increase production in the US. He pointed to <a target="_blank" class="" href="https://www.nahb.org/blog/2024/08/canadian-lumber-tariffs">a 15% tariff on Canadian softwood lumber</a> that has failed to do this.

Trump's immigration crackdown could deplete the construction workforce and make housing more expensive     

<ul class="summary-list"><li>Canada will reduce its target number of new permanent residents in 2025 from 500,000 to 395,000.</li><li>Justin Trudeau said the new target will pause population growth in Canada over the next few years.</li></ul>Canada has announced cuts in the number of immigrants it allows into the country after Prime Minister Justin Trudeau said he "didn't get the balance right."At a <a target="_blank" class="" href="https://www.youtube.com/watch?v=EuFIwUQ6SgY">news conference in Ottawa</a>, Trudeau took the unusual step of acknowledging his policies had placed a strain on the economy.He said Canada needed to "pause population growth and let our economy catch up," adding that while immigration was "essential" for Canada's future, it must be controlled and sustainable.Under the new plan, the number of permanent residents arriving in Canada in 2025 will be reduced by 21%, from the initial target of 500,000 to 395,000.The long-term goal is to reduce that number to 365,000 new permanent residents by 2027.<h2 id="80880aaa-7718-4595-8c66-00b430baa1bd">Slowing down population growth</h2>Canada's immigration policy is often offered up as a model for other countries, with foreign-born people making up nearly a quarter of its population, according to the <a target="_blank" class="" href="https://www.cfr.org/backgrounder/what-canadas-immigration-policy">Council on Foreign Relations (CFR).</a>"Immigrants have helped the country counter aging demographics and fuel economic growth, though some Canadians have expressed concern about the increasing strain on housing and social services," the CFR report said.Canada's population hit <a target="_blank" class="" href="https://www.canada.ca/en/immigration-refugees-citizenship/news/2024/10/government-of-canada-reduces-immigration.html">41 million in April</a>, with immigration accounting for almost 98% of population growth last year.Since 2019, annual targets for new permanent resident admissions increased by nearly 41%, according to figures from the<a target="_blank" class="" href="https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/annual-report-parliament-immigration-2024.html"> Canadian government.</a>While its population has been growing, Canada has been grappling with a <a target="_blank" class="" href="https://www.businessinsider.com/canada-housing-crisis-bubble-imploding-real-estate-prices-rent-decline-2023-11">housing crisis</a>, increased costs of living, and rising debt.Canada's <a target="_blank" class="" href="https://tradingeconomics.com/canada/unemployment-rate">unemployment rate </a>was 6.5% in September. Meanwhile, housing prices increased prices by more than 355% between 2000 and 2021.According to a <a target="_blank" class="" href="https://assets.cmhc-schl.gc.ca/sites/cmhc/professional/housing-markets-data-and-research/housing-research/research-reports/2023/housing-shortages-canada-updating-how-much-we-need-by-2030-en.pdf?rev">2023 report by the Canada Mortgage and Housing Corporation</a>, Canada will need 3.5 million more homes on top of what's already being built to restore affordability."These pressures have required us to adapt our immigration levels planning to the current climate," said Immigration Minister Marc Miller."Our annual plans must take into account the capacity to settle, integrate, and retain newcomers—which varies across the country—and monitor system-wide pressures in critical sectors such as housing and health care. At the same time, immigrants make significant contributions to the labor market and are part of the solution."In an <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-24/canada-s-economy-won-t-take-a-hit-from-immigration-curb-minister-says">interview with Bloomberg</a>, Miller said he was not worried about the slowing population growth from immigration cuts having a negative impact on the economy."We do have an aging population and whatever you see in the next three years with the neutral population growth is counteracted by the quite large growth that we've seen in the last three years," he said. "If it goes on too long, you have a concern, but we're not in that situation, far from it."The immigration cuts come as Trudeau faces challenges to his leadership. An Ipsos poll conducted between September 5 and 9 <a target="_blank" rel=" nofollow" class="" href="https://www.ipsos.com/en-ca/approval-trudeaus-performance-just-33-canadians-call-parliament-focus-cost-living">put</a> his approval rating at 33%. Two-thirds of Canadians disapproved of his leadership, citing disappointment with the cost of living and housing crisis.

Justin Trudeau, a champion of immigration, says he overdid it and strained Canada's economy

<ul class="summary-list"><li>I've lived in Canada for over a decade, and though it's not perfect, I prefer it to the US.</li><li>I've had major surgery and dealt with long COVID for years and haven't paid a cent for healthcare.</li></ul>When my partner was offered a job in <a target="_blank" class="" href="https://www.businessinsider.com/why-toronto-best-city-quick-trip-things-to-do-skip-2024-10">Toronto</a> 13 years ago, we felt like we'd won the lottery.We were living in the Midwest, where people stared at us as if they'd never seen a multiracial couple before and <a target="_blank" href="https://www.businessinsider.com/cosmopolitan-jessica-pels-career-advice-how-to-get-dream-job-2020-4">Cosmopolitan magazine</a> was covered with black plastic in the supermarket because it was too racy.We'd long wanted to live somewhere more diverse and walkable, with less violence. Settling in downtown Toronto — where we could walk or take <a target="_blank" class="" href="https://www.businessinsider.com/canada-via-rail-vs-amtrak-business-class-review-photos-2022-8">public transportation</a> and over half of the population was born outside Canada — was like being in a smaller, cleaner version of New York City.Add on the promise of Canadian healthcare, and we were close to nirvana.After living for more than a decade in Canada, we've come to realize that the <a target="_blank" class="" href="https://www.businessinsider.com/moving-to-canada-from-us-pros-cons-heathcare-home-prices">country is far from perfect</a>. But there are many factors that make it unimaginable for me to live in the US again.<h2 id="a284571f-bca4-4fba-a6f4-d7f8b2efefe7">Canada's healthcare system isn't perfect, but I prefer it to the US's</h2>Canadian healthcare has its downsides.While the majority of care is free, people typically have to pay out of pocket for prescriptions, <a target="_blank" class="" href="https://www.businessinsider.com/why-americans-dont-exercise-mental-health-crisis-depression-anxiety-fitness-2024-6">mental-health</a> care, and dental and vision care, which can make these services inaccessible to many.Despite that, I can't envision living without <a target="_blank" class="" href="https://www.businessinsider.com/dr-adam-kay-americas-been-gaslit-about-socialized-medicine-2019-12">socialized medicine</a> again. I had a complicated pregnancy and an emergency C-section and I developed long COVID four years ago, but I've never paid a cent for healthcare here.When I lived in the US, I worked in public health in California, helping uninsured families access care. I saw firsthand <a target="_blank" class="" href="https://www.businessinsider.com/how-get-medical-bills-reduced-negotiate-challenge-payment-plan-2024-9">how medical debt could ruin people</a>.There was also a brief time when I was in my 20s, before the Affordable Care Act, when I <a target="_blank" class="" href="https://www.businessinsider.com/gen-z-millennials-giving-up-medical-care-cant-afford-costs-2024-2">lived without health insurance</a> in California and was terrified of getting injured and ending up with a huge hospital bill.<h2 id="82b9efcc-e263-4015-b997-fc1d979a471a">Traveling in Canada can be more expensive, but we've found ways to manage</h2><div type="image" title="landscape of Canada's Laurentian Mountains" height="3840" width="5760" msid="115259769" hostid="261" sizebytes="1759662"></div>Because of <a target="_blank" href="https://nationalpost.com/news/canada/airlines-fees-canada">federal regulations</a>, domestic flights in Canada are often more expensive than flights to the US. However, we've found ways to manage by coordinating work trips and visiting friends.<a target="_blank" class="" href="https://www.businessinsider.com/beautiful-natural-wonders-2018-7">Canada's nature</a> is one of our favorite aspects of living here. We've vacationed across the country, but we have a special fondness for Québec's Laurentian Mountains and the forests of Ontario.We also spent months in the Yukon subarctic, where we glimpsed a grizzly bear, lynx, moose, scores of ravens, and wilderness more pristine than I thought possible.<h2 id="001263da-7c4c-4498-aabe-c1e9c7dbf46c">We love the diversity in Toronto, but we have experienced racism</h2>My husband and I found friends through community groups and parent-and-baby classes with other immigrant parents. Our friends are from all over, including Nigeria, Russia, Pakistan, Mexico, China, and Peru.Living in such a global environment is simply second nature for our Canadian-born child, who became trilingual in kindergarten in a public French school.However, immigrants and people of color aren't always treated kindly, despite Canada having had an official <a target="_blank" href="http://pier21.ca/research/immigration-history/canadian-multiculturalism-policy-1971">multiculturalism policy</a> since 1971.My Afro-Latino partner often laments the racism he's experienced in Canada, which has been more directly harmful to him than the racism he experienced in the United States.For example, he sold his bike after nearly being hit by drivers so many times, including one who told him to get off the road before calling him the N-word.When he does porch drop-offs of kids' items I've sold on Marketplace, he gets followed and questioned by people who act like he's a thief.And when we renewed his employer-sponsored work permit at the border a decade ago, an immigration official grilled him and said, "Couldn't they find a Canadian for the job?"In part because of those experiences, my husband has felt compelled to connect even more with different BIPOC communities in Canada.After we moved here, he found out about his Indigenous Caribbean ancestry through genetic testing, and it has become an extremely important part of our experience as a family to educate ourselves about Indigenous people's histories, lives, and teachings. We see it as one of our responsibilities as settlers.<h2 id="859b0674-9e41-4b48-abbc-f3eccee0cca8">I prefer living in Canada to the United States</h2><div type="image" title="Canadian flag with Toronto skyline in the background" height="3744" width="5616" msid="115259767" hostid="261" sizebytes="940328"></div>The longer I live here, the less I feel like I belong when I travel back to the US.My family inhabits multiple marginalized identities — queer, <a target="_blank" href="https://economichardship.org/2023/04/the-disabled-tax-means-i-pay-extra-for-necessities-constantly/">disabled</a>, immigrant, and BIPOC — that are under attack in the US. The ability to live and thrive outside the US, with free healthcare to boot, has long made me feel survivor's guilt for enjoying that stability.There are trade-offs to Canadian life: <a target="_blank" class="" href="https://www.businessinsider.com/canada-housing-crisis-bubble-imploding-real-estate-prices-rent-decline-2023-11">Astronomical housing costs</a> caused by foreign investment and government policy make me worry that when my child is an adult, they won't be able to afford rent, much less buy a home.I'm also disabled and cannot work full time. If I'm ever without my partner's financial support, I wouldn't qualify for or be able to live on my province's <a target="_blank" href="https://www.tvo.org/article/people-cant-live-on-dirt-disabled-ontarians-push-for-odsp-reform">paltry disability benefits</a>.In the end, it's a balancing act.I will forever follow events in American society and politics, even when I someday become a Canadian citizen. But for my family's safety and health, there's no going back.

My husband and I moved from the US to Canada 13 years ago. We love the free healthcare here and the great friends we made.

<ul class="summary-list"><li>More executives are seeking protection, a private security firm chief told The Financial Times.</li><li>It comes as companies and CEOs are targeted by political activists.</li></ul>An increasing number of companies appear to be spending big money on trying to keep their executives safe by hiring bodyguards.Steve Jones, the chief executive of security company Allied Universal, told <a target="_blank" class="" href="https://www.ft.com/content/a65d8aa1-673e-4620-920c-ec6ac79a303a?accessToken=zwAGJie6Mt7gkdOmXYqhZz5GINOSDOxqx5owOg.MEQCIFxG6p3_3JZEkIK5308UilsiYLPn5KB6jHRgvCT46TWdAiBsUI83XeA3QZKWt8vwHDTuuncjhZPUUiMp568P7c_W8g&amp;sharetype=gift&amp;token=5d647de2-ea1b-4ae3-8d8e-50e552279923">The Financial Times </a>that global political instability had created increased demand for security services.His assessment seems in line with market trends. According to an October report by <a target="_blank" href="https://www.fortunebusinessinsights.com/private-security-market-108283">Fortune Business Insights</a>, the global private security market is expected to grow from $247.75 billion in 2024 to $385.32 billion by 2032.Its largest and fastest-growing segment is "manned security," the broad category that includes executive protection.Jones told the FT that businesses linked to Israel and the defense and energy industries were most likely to hire extra security for their staff."We've got wars going on in certain parts of the world, we have elections, we have protests, we have social challenges, we have immigration challenges that face different countries around the world. It all creates a need for additional security," he said.In recent months, activists have targeted a number of high-profile companies and corporate events.In October, several Allianz Insurance buildings in the UK were <a target="_blank" class="" href="https://www.bbc.com/news/articles/c74871k7k73o">sprayed with red paint as part of a national protest by pro-Palestine activists. </a>The Palestine Action Group said it carried out the attacks to protest against Allianz's alleged links to an Israeli defense firm.In June, activists disrupted the Amazon Web Services Summit in Washington, DC, to protest about a cloud services deal between Israel's government, Google, Project Nimbus, and Amazon.Meanwhile, climate protesters in Germany in August disrupted European flights after accessing air traffic control centers.Jones told the FT his company employs around 17,000 people, including former police and military personnel, to protect executives and their families. Allied Universal did not immediately respond to a request for comment by Business Insider.Companies can spend millions to protect their CEOs. Meta, for instance, spent $23.4 million on Mark Zuckerberg's personal security in 2023, according to <a target="_blank" class="" href="https://archive.is/Y3kdg#selection-1001.136-1001.422">Fortune.</a> Last year, Alphabet paid $6.8 million for Sundar Pichai's personal security.Last year, Alex Bomberg, chief executive of Intelligent Protection International, told <a target="_blank" class="" href="https://www.fnlondon.com/articles/climate-activism-in-the-city-prompts-rise-in-bodyguard-demand-20230619">Financial News </a>that demand for executive security had doubled in 12 months."The role of a bodyguard is not just for security," he said. "You have someone who is highly trained in first aid, experienced in making dynamic risk decisions. It's not just some bloke in a suit."People don't realize how things can play out in the street," he added. "A CEO might go for an interview, and when they arrive, they get something thrown over them. It's not so much about them being robbed, although that's always a concern, but being doorstepped at home by protesters."According to Allied's <a target="_blank" class="" href="https://www.worldsecurityreport.com/">World Security Report, </a>in 2022, companies lost more than $1 trillion in revenue due to physical security incidents.One in four publicly listed companies reported a drop in their value after a physical security incident over the last year, the report said.

CEOs are clamoring for bodyguards as the world feels more dangerous, a top security boss says

Andrew Webber's forever war 

Immigration and Customs Enforcement has kept its use of deadly force secret. Until now. 

<ul class="summary-list"><li>Biden and Trump's stances differ dramatically on some major issues like abortion.</li><li>But they're also closer than you might think on other issues, like the war in Gaza.</li></ul>President Joe Biden and former President Donald Trump disagree on most major issues concerning Americans today, like the economy, climate, immigration, abortion, the war in Ukraine, and the war in Gaza.At the top of that list is the economy and inflation — nearly 9 in 10 Americans say these are the most important issues determining who they will vote for in November, according to an <a target="_blank" href="https://www.ipsos.com/en-us/most-americans-say-economy-and-inflation-are-most-important-issues-determining-who-they-will-support-for-president-in-november">ABC News/Ipsos poll</a> in May.But if you're a bit fuzzy on the specific details of each presidential candidate's positions, here's a guide with all the information you need.<h2 id="3cdc8edd-56e9-496c-9e71-5515f51053ff">Biden vs Trump on the economy</h2>With the <a target="_blank" href="https://www.businessinsider.com/average-cost-monthly-household-bills-change-pandemic-covid-rent-mortgage-2024-3">skyrocketing costs of monthly bills</a> like rent and mortgages, health insurance, phone plans, and utilities — it's no surprise that the economy is the biggest issue looming on voters minds this election season.So how does each candidate intend to alleviate Americans' financial woes?In his three and a half years already in office, Biden has done pretty well on the core metrics of a healthy economy. Unemployment has stayed under 4% for the longest period of time since the 1960s, 15 million jobs have been created, <a target="_blank" rel="" href="https://markets.businessinsider.com/news/stocks/dow-40000-what-does-hitting-the-major-milestone-mean-for-investors-1033400640">the Dow hit over 40,000</a> for the first time, and the national economy as a whole is expected to grow at double the rate of its G7 peers.Though the statistics sound good, that doesn't mean Americans are feeling good — a disconnect that <a target="_blank" href="https://www.businessinsider.com/soft-landing-economy-us-on-track-data-cooling-interest-rates-2024-6">one economist calls a "vibecession."</a>As for his 2025 agenda, Biden wants to hike the corporate tax rate, impose a higher corporate minimum tax on billion-dollar companies, and impose a 25% tax on the wealthiest Americans' unrealized income.During Trump's time in office, inflation was about 2% lower on average, and both unemployment and the stock market did well.Trump hasn't been very specific about his economic plans for a second term, but some economists warn that his general ideas could exacerbate inflation.Trump's promise to crack down on illegal immigration could worsen labor shortages, and his proposal to enact a 10% tariff on all imported goods could make items more expensive for consumers. Trump also believes tax cuts and deregulation will fuel economic growth, and he's proposed ending the taxation of tips.<a target="_blank" href="https://www.businessinsider.com/how-to-vote-economy-top-issue-2024-biden-trump-plans">Read more about each candidate's economic stances here.</a><h2 id="a168a081-204d-41f1-8cce-92a164d1e980">Biden vs Trump on the climate</h2>Biden has boasted about the pro-environment policies he's enacted while in office, and he <a target="_blank" href="https://www.businessinsider.com/biden-climate-change-young-voters-environment-greenhouse-emissions-ev-2024-5">hopes his stance will win over young voters</a>.He rejoined the Paris climate agreement, revoked a permit for the Keystone XL oil pipeline, and helped set up new EPA rules that limit vehicle emissions and strengthen the reporting requirements of methane emissions.When Trump took office, he left the Paris climate agreement and rolled back a number of environmental protections on everything from logging to dishwasher efficiency.The former president has also pledged to "stop the war on oil and natural gas," dismantle oil regulations, and end "government interference in energy decisions."<a target="_blank" href="https://www.businessinsider.com/how-to-vote-climate-issue-2024-election-biden-trump-guide">Read more about each candidate's climate positions here.</a><h2 id="e596050c-a7d8-477f-bf68-b3953d0f3872">Biden vs Trump on immigration</h2>Biden and Trump are sharply divided on immigration, as are Americans.Immigration has been one of the toughest issues of Biden's term — he entered office wanting to reverse many of Trump's policies but has since waffled on the issue.Under Biden, border apprehensions hit a record high, which Republicans have blamed on lackluster border security.Earlier this year, Biden hoped a Senate-crafted bipartisan bill on the asylum system would strengthen border security, but Republicans squashed it. At the beginning of June, Biden did make some progress on the issue, signing an executive order restricting asylum protections — to the dismay of many left-leaning immigration advocates.Trump has made immigration a central tenet of both his presidential runs.The former president, who has harshly criticized Biden's immigration policies, was instrumental in getting Republicans to reject the Senate's bipartisan immigration bill earlier this year.He has also promised to carry out the <a target="_blank" href="https://www.businessinsider.com/trump-deportation-immigration-plan-impact-recession-risk-inflation-stagflation-labor-2024-6">largest deportation operation in US history</a> if he's elected to a second term, and his allies have reportedly already been drawing up plans to restrict migration at the US-Mexico border.<a target="_blank" href="https://www.businessinsider.com/immigration-border-security-biden-trump-2024-election">Read more about each candidates immigration position here.</a><h2 id="5babbdb3-e719-4329-bc73-60083b807aa9">Biden vs Trump on abortion</h2>Biden has consistently held a pro-abortion position.He's promised to <a target="_blank" href="https://www.businessinsider.com/roe-v-wade-overturn-president-biden-vows-this-is-not-over-2022-6">restore Roe v. Wade</a>, defended access to the <a target="_blank" rel="" href="https://www.businessinsider.com/abortion-pill-women-stockpile-mifepristone-trump-presidency-experts-2024-4">abortion drug mifepristone</a>, pushed through a Pentagon policy that reimburses service members who need to travel for the procedure, and vowed to defend women's legal ability to travel across state lines to get an abortion.Though Trump has bragged about his role overturning Roe, he has also recently tried to skirt around the topic of abortion, arguing that the <a target="_blank" href="https://www.businessinsider.com/trump-said-abortion-bans-should-be-left-states-2024-4">decision should be left to individual states</a>.Trump has also not said how he feels about mifepristone or how he intends to vote on a Florida constitutional amendment that would expand some access to the procedure.<a target="_blank" href="https://www.businessinsider.com/how-to-vote-abortion-top-issue-2024-biden-trump-guide">Read more about each candidate's stance on abortion here.</a><h2 id="ec823c80-2059-478a-be60-8c0f1de34307">Biden vs Trump on the war in Ukraine</h2>The Biden administration has remained in favor of supporting Ukraine financially and militarily, arguing that it's worth the cost to combat Russian aggression and uphold the US-led world order.Biden has also suggested that he wouldn't support a negotiated settlement granting some Ukrainian territory to Russia."Peace looks like making sure Russia never, never, never, never occupies Ukraine," Biden told TIME in a May interview. "That's what peace looks like."Trump's stance on the war is not quite as clear, and his friendliness with Russian President Vladimir Putin has made his views even murkier. He has suggested giving aid to Ukraine in the controversial form of a loan, and has said that the US is doing too much to support the battle-torn country. He's also pledged to end the war if elected, even if that means Ukraine ceding territory to Russia.<a target="_blank" href="https://www.businessinsider.com/how-to-vote-ukraine-top-issue-2024-candidate-guide">Read more about each candidate's stance on the war in Ukraine here.</a><h2 id="fa7c0d97-d794-4e30-9fd9-2daf53351ba2">Biden vs Trump on Israel-Gaza</h2>Biden has consistently defended Israel since the country invaded Gaza last year following Hamas' October 7 attack.Biden has, however, hedged his support of Israel at times.He's called Israel's war tactics "over the top," pushed for a ceasefire, and urged Israel to do more to allow humanitarian aid into the territory.Trump has voiced conflicting messages about the war in Gaza. During an interview in March, he said Israel "made a very big mistake" but also at the same time told the country to "go and do what you have to do."Some of Trump's comments on the topic has also signaled that he could be even more supportive of Israel's war than Biden.<a target="_blank" href="https://www.businessinsider.com/how-to-vote-gaza-top-issue-2024-candidate-guide">Read more about each candidates stance on Israel-Gaza here.</a><h2 id="0565a405-1f5a-4647-b65e-7fc256969d3c">Biden vs Trump on housing</h2>While in office, Biden has pushed a number of policy changes on housing, including the "<a target="_blank" rel="" href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/05/16/president-biden-announces-new-actions-to-ease-the-burden-of-housing-costs/">Housing Supply Action" plan.</a> The president has encouraged initiatives to increase the amount of affordable housing, and his fiscal year 2025 budget proposal includes $258 billion for housing initiatives.Biden has also discussed housing issues on the <a target="_blank" href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2024/03/20/remarks-by-president-biden-on-lowering-housing-costs-for-american-families-las-vegas-nv-march-19-2024/">campaign trail</a> and in high-profile speeches like the State of the Union.Trump didn't prioritize the issue while in office, and he proposed substantial cuts to agencies that provide federal housing subsidies, including the Department of Housing and Urban Development.The former president hasn't discussed the issue much during his 2024 campaign so far, though he has promised a crackdown on immigration will provide relief to the housing market. He has said he would said he would "ban urban camping" to deal with homelessness. He also <a target="_blank" href="https://www.businessinsider.com/trump-freedom-cities-build-housing-conservatives-scoff-at-leftist-plan-2023-3">released a video</a> last year saying he would build 10 new American cities on federal land as a way to give American families "a new shot at homeownership." <a target="_blank" href="https://www.businessinsider.com/trump-biden-housing-crisis-policy-rising-home-prices-apartment-rents-2024-6">Read more about each candidates stance on housing</a>

Where Biden and Trump stand on major issues like the economy, Ukraine, and immigration

<ul class="summary-list"><li>A Southeast Asian restaurant closed down last year after facing false accusations of serving dog meat.</li><li>The accusations are grounded in the racist stereotype of Asians eating dogs.</li></ul>David Rasavong first noticed strange reviews for his Fresno restaurant on a Monday night in May. He had just put his kids to bed when he saw several Google reviews mentioning dog meat. Rasavong didn't think too much of it; just reported them to Google before going to sleep.The next morning, Rasavong woke up to find his restaurant's Yelp, Facebook, Instagram, and email accounts flooded with dozens of scathing reviews and comments. Rasavong recalled some of them: "Disgusting." "How can you do this?" "You guys should be arrested."They accused the restaurant of killing, selling, and serving dog meat.Rasavong soon discovered that a supposed animal rights activist had taken to social media to imply that a dog tied up at someone else's house next door would be served on his restaurant Tasty Thai's menu.Within days of the accusation — grounded in the <a target="_blank" href="https://www.businessinsider.com/china-calls-swedish-show-racist-for-warning-tourists-not-to-eat-dogs-2018-9">racist stereotype of Asians eating dogs</a> — Rasavong shuttered his restaurant, which he had opened just seven months earlier as a homage to his immigrant parents. It no longer felt safe with the continuing stream of harassment and the people lingering outside the restaurant.<div type="image" title="David Rasavong's parents" height="1080" width="1440" msid="106816174" hostid="261" sizebytes="82850"></div><h2>A harmful racist stereotype</h2>Rasavong particularly remembers the phone calls he fielded at the restaurant."Naively, I thought we could talk sense to people," Rasavong told Business Insider. "But when I started listening to the voice mails and taking calls, it was, 'Go back to your country, you're disgusting. You guys are all dog eaters.'"There were also vitriolic comments online, including people who said, "This is why I don't eat at Chinese restaurants," falsely conflating all Asians, according to Rasavong.The harassment didn't stop there. After Tasty Thai received the barrage of negative reviews, Rasavong said a handful of other Asian restaurants in the area also began getting phone calls and verbal attacks."It broke my heart," Rasavong said.<div type="image" title="Anna Le Nguyen, and Minh Rasavong Oriyavong help out in the kitchen of &quot;Love &amp; Thai&quot; in Fresno, Calif. on Wednesday, Dec. 20, 2023." height="683" width="1024" msid="106816175" hostid="261" sizebytes="81848"></div>The stereotype of Asians eating dog meat is rooted in outdated and exaggerated beliefs, harnessed as a means of <a target="_blank" href="https://www.businessinsider.com/women-speak-up-against-anti-asian-hate-sexism-and-erasure-2021-3">othering and exoticizing Asian people</a>. The practice has persisted in the US for more than 150 years, grounded in xenophobia toward the <a target="_blank" href="https://www.businessinsider.com/san-francisco-chinatown-photos-postcards-chinese-american-immigration-history-2023-12">arrival of Chinese immigrants in the 1800s</a>.During the 1904 World's Fair in St. Louis, a replica of a Filipino village featuring a group of Igorot tribe members grilling dogs. Staged just two years after the US won the Philippine-American War, the exhibition was <a target="_blank" href="https://www.foundsf.org/index.php?title=Igorots_Arrive_in_San_Francisco_in_1905">advertised</a> as "The Call of the Wild: Head-Hunting, Dog-Eating, Wild People from the Philippines."More recently in 2016, an Oregon senate candidate <a target="_blank" href="https://www.nbcnews.com/news/asian-america/senate-hopeful-apologizes-saying-vietnamese-refugees-ate-pets-n550576">apologized</a> after he said Vietnamese refugees were a "huge problem" because they were "harvesting people's dogs and cats."The stereotype has only intensified amid a surge in <a target="_blank" href="https://www.businessinsider.com/aapi-hate-crimes-spikes-more-than-500-in-san-francisco-in-2021">anti-Asian sentiment and hate crimes</a> during the coronavirus pandemic. In 2022, Asian-owned businesses saw the largest increase in hate speech on Yelp, <a target="_blank" href="https://trust.yelp.com/trust-and-safety-report/">according to</a> the review platform's latest annual trust and safety report. In 2021, Yelp removed just nine anti-Asian posts. In 2022, it removed 475.<h2>Rallying together</h2>In November, Rasavong reopened his restaurant under a new name: Love &amp; Thai."The name means the world to us. It's how I pay homage to my parents," he told Business Insider.<div type="image" title="A photo of David Rasavong's family" height="1080" width="1440" msid="106816176" hostid="261" sizebytes="107130"></div>Rasavong was surprised and heartened by the support he received from the community around him. Local and international graphic designers, interior designers, and artists offered their services for free, while local organizations helped get the word out.A mural in the new restaurant, painted by local artist Hana Luna Her, depicts Rasavong's mother when she was young, dressed in traditional Laotian clothing. She stands next to an elephant, the national animal of Laos, and expansive rice fields that blend into the Golden Gate Bridge, where Rasavong's parents immigrated to in 1981, and Fresno, where the restaurant is located. Above the mural are the words, "Spread the love."<div type="image" title="A mural at the Fresno restaurant Love &amp; Thai depicts a Laotian woman net to rice fields and the Golden Gate Bridge" height="2555" width="3407" msid="106816178" hostid="261" sizebytes="458472"></div>"We believe that's the most important thing. There's too much hate and anger toward each other in this day and age," Rasavong said.Customers have flocked to Love &amp; Thai and shown their support, and Rasavong wants to share that support with others in the community."I want the community to continue to support each other, to give each other the benefit of the doubt before assuming things based on stereotypes," Rasavong said. "We'll all be in a better place for it."

After racist threats forced a Southeast Asian restaurant to close down, the owner reopened a new restaurant as an homage to his immigrant parents

<ul class="summary-list"><li>A new Japanese government report may be readying its public for the possibility of war.</li><li>It expands on the threats it faces from Russia, China and North Korea.</li></ul>Japan's newest strategic review names China, North Korea and Russia as threats to Japanese security.That's hardly a revelation. But it is a change from previous years when the Japanese government was more circumspect about publicly identifying potential enemies. In fact, the theme of the 2024 <a target="_blank" href="https://www.mod.go.jp/en/publ/w_paper/index.html">"Defense of Japan"</a> report may be to prepare the Japanese public for more defense spending and the possibility of war."The biggest change is in the description of the regional security environment," Nicholas Szechenyi, a Japan expert at the Center for Strategic and International Studies, told Business Insider. "Instead of vague references to 'changes to the status quo by force,' the white paper now refers more explicitly to Chinese coercion and the North Korea threat. Clearer explanations of the threats to Japan's national security will prove critical as the government seeks public support for an ambitious defense spending plan."The review is part of a reconsideration of Japan's needs in the face of growing threats from its well-armed neighbors, especially China. Japan reserves its military only for self-defense and has avoided entering any armed conflict since its defeat in World War II.The 2024 paper —of which only a summary has been released — includes more details about the Chinese threat to Japan, including joint Chinese-Russian exercises. China has "conducted joint bomber flights and naval navigations with Russia in the vicinity of Japan," the paper said. "These repeated joint activities are clearly intended for demonstration of force against Japan and are a grave concern from the perspective of the national security of Japan."The Ministry of Defense also challenged the legality of Chinese operations in the South China Sea, which China claims as its own territorial waters despite an international court judgment to the contrary. "China has intensified its activities in the South China Sea based on assertions, which are conflicting with existing orders of the seas, and promoting the establishment of military bases," the official paper said. "Such actions to further promote unilateral change of the status quo by force and turning it into a fait accompli are serious concerns to Japan."The paper also highlighted North Korea's nuclear and ballistic missile capabilities, including ICBMs, nuclear-armed cruise missiles, and hypersonic weapons. "North Korea is focusing on qualitatively improving its nuclear and missile capabilities, such as diversifying its equipment systems and acquiring intelligence, surveillance and reconnaissance (ISR) means that complement its nuclear and missile operational capabilities," the paper said.The 2024 paper reiterated the Japanese government's commitment to the 2022 Defense Buildup Plan, a five-year effort that includes development of stand-off anti-ship missiles to repel a Chinese amphibious assault on the disputed islands and mainland Japan. The 43 trillion yen (US$287 billion) plan also calls for development of hypersonic missiles, as well as drones such as robotic amphibious landing vehicles.Besides external threats and new equipment, the paper highlighted a critical need for the Japan Self-Defense Forces: more people. While militaries in many developed nations are struggling to recruit personnel, this is particularly acute in Japan, where <a target="_blank" href="https://www.cnn.com/2023/09/18/asia/japan-elderly-population-workforce-intl-hnk/index.html">sharply declining birth rates</a> and barriers to immigration have resulted in a population where almost 30%is over age 65. Nor is military service seen as attractive in an economy with an unemployment rate of just 2.5%.While the paper promised the JSDF would improve pay and working conditions, experts are not convinced this will solve the problem."There are other things that the MOD needs to do, such as expanding the reserve force component which can be done by adjusting the recruitment regime and also better integrating them with the active component," Ryo Hinata-Yamaguchi, an adjunct senior fellow at the Honolulu-based Pacific Forum think tank, told Business Insider. "The problem is that such changes will require adjustments in laws and also various arrangements with the civilian sector."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

Japan's latest strategy review names the growing threats it faces 

<ul class="summary-list"><li>An assailant injured four people including three young children in a knife attack in central Dublin on Thursday.</li><li>In the evening, rioters looted and set vehicles on fire in the area.</li></ul>Anti-immigration rioters torched vehicles and looted stores in central Dublin on Thursday night after a knife attack near a primary school earlier in the afternoon.Garda Síochána, the Irish police force, <a target="_blank" href="https://www.garda.ie/en/about-us/our-departments/office-of-corporate-communications/press-releases/2023/november/update-serious-incident-parnell-square-east-dublin-1-23rd-november-2023.html">said in a press release</a> the attacker injured an adult woman and three young children, one of whom sustained "serious injuries."Irish police <a target="_blank" href="https://www.garda.ie/en/about-us/our-departments/office-of-corporate-communications/press-releases/2023/november/update-2-serious-incident-parnell-square-east-dublin-1-23rd-november-2023.html">also said</a> that an adult man in his 50s, who was injured at the scene, is a person of interest in the case. <a target="_blank" href="https://www.bbc.com/news/live/world-europe-67512628">Police are</a> "not looking for any other person at this time."Irish public service broadcaster <a target="_blank" href="https://www.rte.ie/news/dublin/2023/1123/1418216-protests/">Raidió Teilifís Éireann reported that</a> the man "is an Irish citizen who came to this country over 20 years ago."Irish police said that the destruction could be blamed on far-right agitators who chanted anti-immigration slogans as they rioted, <a target="_blank" href="https://www.rte.ie/news/dublin/2023/1123/1418216-protests/">according to RTE</a>."We have a complete lunatic hooligan faction driven by far-right ideology, and also then this disruptive tendency engaged in serious violence," Drew Harris, the commissioner of Garda Síochána, <a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">said on Thursday.</a>Ireland's Minister for Justice Helen McEntee also condemned the rioters as anti-immigration agitators."This is not about immigration, this is not about the young children who are in hospital this evening," she <a target="_blank" href="https://www.bbc.com/news/live/world-europe-67512628">said</a>. "These are criminals and thugs who have come into our city center and used a horrific attack on innocent children for their own gain and their own benefit."<a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">The AP reported that</a> "at least 100 people" joined the riot, with some setting off fireworks. Some rioters were <a target="_blank" href="https://www.bbc.com/news/live/world-europe-67512628">armed with bricks</a>, while others were <a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">armed with metal bars</a>. Some <a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">stores were looted</a> and had their windows crashed. Dublin <a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">suspended its tram and bus service</a> in response to the riots.<a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">More than 400</a> police officers were sent to respond to the scene. <a target="_blank" href="https://apnews.com/article/dublin-ireland-stabbing-children-9a75c71fbac34fe789220c684c5eb661">Videos from the scene show</a> multiple vehicles set on fire. <a target="_blank" href="https://www.bbc.com/news/live/world-europe-67512628">The BBC reported that</a> these vehicles included a bus, a police car, and a tram. RTE reported that the crowd had <a target="_blank" href="https://www.rte.ie/news/dublin/2023/1123/1418216-protests/">dispersed by 11 p.m</a>. local time."It was gratuitous thuggery, public transport was attacked as were garda vehicles, and some commercial premises were also damaged and attacked," <a target="_blank" href="https://www.rte.ie/news/dublin/2023/1123/1418216-protests/">said</a> Patrick McMenamin, Garda Síochána's chief superintendent.Police believe the knife attack to be a "standalone" incident. Irish police have said they <a target="_blank" href="https://www.irishnews.com/news/republicofirelandnews/2023/11/23/news/dublin_city_centre_three_children_injured_serious_incident_-3795977/">ruled out</a> any connection to terrorism, but they <a target="_blank" href="https://www.bbc.com/news/live/world-europe-67512628">do not know</a> the individual's motive.Irish police did not immediately respond to Insider's request for comment.

Anti-immigration rioters in Dublin torched vehicles and looted stores after a knife attacker injured 3 children

<ul class="summary-list"><li>The US economy will avoid a recession due to AI, immigration, and high-income consumers, said Michael Arone.</li><li>AI will boost productivity and immigration will dampen inflation, the State Street investment strategist said.</li></ul>The US economy will keep growing and ultimately avoid a recession thanks to artificial intelligence, immigration, and rich people.That's according to State Street chief investment strategist Michael Arone, who said in a recent note that even as the Federal Reserve <a target="_blank" href="https://markets.businessinsider.com/news/stocks/recession-outlook-stock-market-economy-fed-rate-cuts-forecast-siegel-2024-7">keeps monetary policy in restrictive territory</a> via high interest rates, that won't be enough to send the economy into a tailspin."The risks are growing that the stubborn Fed gradually then suddenly puts the economy in recession," he said. "But the economy may narrowly escape the dreaded recession outcome for these three reasons."<h3 id="19e07f75-758b-4469-8f35-6abfdf149220">'Artificial intelligence is the real deal'</h3>Even though AI technologies are in the early innings, Arone says they hold a lot of promise <a target="_blank" href="https://www.businessinsider.com/economy-roaring-20s-rapid-growth-stock-market-analysis-ed-yardeni-2024-1">for boosting economic productivity,</a> increasing company profits, and igniting further growth for businesses."Recent studies assert that AI can improve productivity across a wide range of jobs by 20% to 80%. That compares favorably to another general-purpose technology, steam power," he said.Arone notes that steam power sparked the Industrial Revolution, and that technology increased productivity by just 18% to 22% when it was installed in factories.If AI can improve productivity by a multiple of that, it could unlock significant economic benefits in the future — and those benefits should more than outweigh any policy mistake by the Fed, Arone said.<h3 id="64bb3945-9bc5-49be-b7dd-8579fcc1e424">'Immigration delivers surprising economic benefits'</h3>Americans can thank immigrants for the continued progress in battling inflation, according to Arone."Many people underappreciated the role that increasing immigration has played in stabilizing the post-pandemic labor market without further flattering inflationary pressures," he said.Wage inflation soared during the early days of the pandemic, which stoked overall inflation to a cycle peak of 9.1% in June 2022. But the <a target="_blank" href="https://www.businessinsider.com/us-economy-prediction-immigration-population-growth-housing-market-gdp-cbo-2024-2#:~:text=The%20US%20economy%20will%20grow%20an%20additional%20%247%20trillion%20over,from%20the%20Congressional%20Budget%20Office.">influx of more than 1.5 million immigrants in 2023</a> helped balance out supply and demand in the labor market, Arone said."The pace of immigration increases over the past couple of years is consistent with past economic expansions. And, with job openings remaining elevated in immigrant-dependent service industries, participation rates are likely to increase over the next two years, further boosting the labor market," he said.Arone also notes that the <a target="_blank" href="https://www.businessinsider.com/us-economy-prediction-immigration-population-growth-housing-market-gdp-cbo-2024-2#:~:text=The%20US%20economy%20will%20grow%20an%20additional%20%247%20trillion%20over,from%20the%20Congressional%20Budget%20Office.">increase in immigrants can have a compounding impact on the US economy overtime.</a> He says while this set of workers will typically take low-skill service jobs upon their arrival in the country, some of them will become entrepreneurs and stoke innovation, consumption, and fiscal contributions.<h3 id="dfd6c8e3-d043-469b-aee5-4490e932a6b3">'High-end consumers are in great shape'</h3>For all the concerns about <a target="_blank" href="https://www.businessinsider.com/young-americans-fall-behind-credit-card-auto-payments-delinquency-rates-2024-2">rising delinquency rates</a> and <a target="_blank" href="https://www.businessinsider.com/us-economy-debt-credit-card-debt-1-trillion-interest-rates-2023-9#:~:text=US%20credit%20card%20debt%20hit,tips%20into%20a%20steep%20recession.">more than $1 trillion in credit card debt,</a> Arone says the high-income cohort of the US population is in strong financial shape.He says that's important because people who earn $150,000 or more are responsible for a 40% of US consumer spending."They own 85% of stocks, 80% of bonds, and two-thirds of liquid assets. Yet, they only make up about one-third of consumer credit card balances," Arone said, citing data from Empirical Research Partners.This demographic is on pace to see their wages grow 5% this year, and they are expected to increase their spending by 8% this year, which could be even higher if inflation continues to fall and stock and home prices continue to rise, Arone said."In a departure from past periods, higher stock and home prices combined with a significant increase in their interest income has enabled top earners to spend solidly throughout this tighter monetary policy cycle," he said.Taken together, this suggests to Arone that the US economy is on track for solid growth in the coming quarters and will ultimately avoid a recession, and that should enable a continued rise in the stock market."A restrictive Fed won't stop the music this time around because the economy's moving to a new rhythm," he said.

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