"Low interest rates benefit only the asset rich" it is too complex to fully unpack why, but what you said there is not correct. Low interests actually allow the asset "poor" to acquire assets by borrowing at low rates that allow them to afford assets.
But you are very much correct about the ""skills crisis", and unfortunately, the short term solution that has been used by politicians and corporations to evade responsibility, accountability, and having to reveal their failure … immigration … the syphoning off of skills from other societies; has only fueled the deepening of the damaging crisis.
I like foreign cultures and people off all of the world very much, but there has been a vast con job pulled on people for many years now … far longer than any of us are old … that simply replaced spending and having to solve difficult questions by simply extracting talent from foreign societies and cultures and countries.
The impact has been vast on both the origin and destination side. It has both immensely sabotaged the growth and potential of other countries that were deprived of the skilled talent, and it has also allowed corrupt politicians and corrupt corporate institutions to obscure their utter failure and incompetence and mask the immoral and evil damage they have done to people. It may not be a popular opinion here, but at the core of it, immigration is an evil concept that only serves the billionaire strata. You've never asked yourself why the millionaires and billionaires love nothing more than immigration, i.e., cheap labor that allows them to profit more?
Immigration is a sabotage of the origin countries too that are drained of their human energy and potential.
> Low interests actually allow the asset "poor" to acquire assets by borrowing at low rates
It's counterintuitive, but this is not true. Low interest rates actually inflate the prices of risk assets (stocks, bonds, real estate), greatly benefitting those who already own them.
New entrants have to buy houses at higher prices, which net net washes away the gains made from lower interest. Early movers during the transition may get lucky, but in aggregate, this is true. Think of how a bond works. Interest rates and bond prices are inversely correlated. Lower interest rates = higher bond prices = lower future returns. Its the same for Real Estate.
Also Re: your points about immigration--again, its counterintuitive, but you are also mistaken here. The market for talent is not a zero sum game.
Immigration allows for increased productivity in the global economy because talent is able to go where it can be best utilized.
That talented engineer would be wasted in Albania, because Albania lacks the capital, talent, and opportunities to best utilize the engineer’s knowledge. Albania loses nothing, but benefits greatly when that engineer moves abroad and contributes to making wireless networking accessible for all.
The global economy is not a zero sum game where somebody wins and somebody loses. This is often the hardest thing for people to understand about how the economy works.
And even if that weren't true, yearly immigration as a percentage of population growth/decline in most countries is extremely low. To attribute any of the social ills of a given country to it is foolish.
The world could become more productive and efficient if immigration happened more not less. Everybody wins when talent goes where it can best be utilized.
But you are very much correct about the ""skills crisis", and unfortunately, the short term solution that has been used by politicians and corporations to evade responsibility, accountability, and having to reveal their failure … immigration … the syphoning off of skills from other societies; has only fueled the deepening of the damaging crisis.
I like foreign cultures and people off all of the world very much, but there has been a vast con job pulled on people for many years now … far longer than any of us are old … that simply replaced spending and having to solve difficult questions by simply extracting talent from foreign societies and cultures and countries.
The impact has been vast on both the origin and destination side. It has both immensely sabotaged the growth and potential of other countries that were deprived of the skilled talent, and it has also allowed corrupt politicians and corrupt corporate institutions to obscure their utter failure and incompetence and mask the immoral and evil damage they have done to people. It may not be a popular opinion here, but at the core of it, immigration is an evil concept that only serves the billionaire strata. You've never asked yourself why the millionaires and billionaires love nothing more than immigration, i.e., cheap labor that allows them to profit more?
Immigration is a sabotage of the origin countries too that are drained of their human energy and potential.