Stock markets across the globe nosedived on Monday.
Markets slightly rebounded on Tuesday, but many fear that the economy could completely bottom out any day now.
And financial experts issued a stern warning after the recent job reports sent shockwaves throughout the American economy.
Data shows that there are deep-rooted problems plaguing the American economy
During Donald Trump’s Presidency, the stock market flourished, unemployment reached record lows, and inflation rates were near zero.
Then the pandemic torpedoed the American economy and put millions of Americans out of work.
Joe Biden and his administration took power right as the pandemic began to subside and millions of Americans started to work again.
Economists have labeled these jobs as “bounce back” jobs since they were not new or added jobs and were those recovered after the pandemic.
Nonetheless, Joe Biden and his administration took credit for these bounce-back jobs by gloating that his policies helped to bolster the economy.
Joe Biden even went as far as to brand his economic policy as “Bidenomics,” which critics have roasted given the sharp increase of inflation and other economic plagues.
With the pandemic in the rear-view, Joe Biden can no longer rely on bounce-back jobs to pad his economic figures, which was evidenced by last month’s job report.
In summary, the July jobs report from the Bureau of Labor Statistics showed that 1.2 million fewer Americans had jobs as compared to July of 2023.
Even more concerning is the fact that there were 1.3 million more foreign-born workers compared to a year ago.
This means millions of native-born Americans have either stopped working or lost their jobs.
Economist E.J. Antoni of the Heritage Foundation explained these findings on SiriusXM Patriot’s Breitbart News Saturday.
He told listeners that “there are fewer native-born Americans working now than there were five years ago — before the [Chinese coronavirus] pandemic.”
“What that essentially means is that all of the job growth we have seen [under Biden and Harris] has been going to foreign-born workers — a category . . . which the Bureau of Labor Statistics admits includes illegal aliens,” the renowned economist added.
These findings revealed a key strategy of the Biden administration, which involved including the millions of illegal aliens they have encouraged to flood across the border in their job reports.
The Biden administration has proven that it will do anything to hold on to power
Due to the punitive lockdown measures implemented following the outbreak of the pandemic, millions of Americans lost their jobs.
Data proves that many of these Americans have not gone back to work as illegal aliens flood into America and take their jobs.
These labor statistics show that the Biden administration has put the priorities of American citizens below those of illegal aliens.
Patriot Political will keep you up-to-date on any developments to this ongoing story.
