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Force Majeure Markets~ How long can this Alice in Wonderland Market ignore the numbers?
As many as 21% of H1-B workers were in America illegally.
http://www.opednews.com/articles/Five-for-One–H1-B-progra-by-Steven-Saw-090224-259.html
The result of all this was the number of jobs, wages, consumer demand, market and asset prices fell.
This did not benefit GDP, which actually contracted last year for the first time in at least two generations.
Fourth, American Gross Domestic Product
Gross Domestic Product, GDP, is the final value of all goods and services produced in a country.
GDP does not include the intermediate value of products or services produced in another country before they are assembled and brought in.
GDP does include the final value of goods and service brought in and sold.
GDP is not a measure of price parity or standard of living, although it correlates.
http://en.wikipedia.org/wiki/Gross_domestic_product
This means that if a country like the USA keeps borrowing to run budget and trade deficits, it can keep buying and importing more GDP until its credit runs out.
It also means the actual living standard and jobs in a country like the USA can decline while the GDP keeps growing.
Real American GDP peaked at 8% in 1984, with Reagan deregulation of red tape and PATCO Aircraft Flight Controller firing for an illegal government union strike.
This happened not long after the President was shot by John Hinckley with illegal lethal hollow point bullets that lodged in his lung an inch from his heart. He lost half his blood and had surgery that lasted three hours at the age of 70.
http://www.buyandhold.com/bh/en/education/history/2004/reagan_patco.html
