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Five Industrial Automation Stocks to Buy in Response to Wage Inflation 

Five industrial automation stocks to buy in response to wage inflation are outperforming their peers amid labor shortages caused by COVID-19. Rising wages and reduced availability of workers are spurring companies to increase industrial automation spendin

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Five industrial automation stocks to buy in response to wage inflation are outperforming their peers amid labor shortages caused by COVID-19.

Rising wages and reduced availability of workers are spurring companies to increase industrial automation spending. The trend that is occurring with the five industrial automation stocks to buy became apparent even before the coronavirus, as labor productivity slowed in both the United States and other developed nations.

With U.S. manufacturing wages now rising at the fastest pace since 1982, it gives companies reason to invest in automation. With the offshoring of manufacturing and the globalization of supply chains facing new headwinds, alternatives to automation investments are waning.

“Executive surveys, conference call transcripts and industrial robot sales all show rising interest in automation,” according to a recent research note from Bank of America Global Research.

Five Industrial Automation Stocks to Buy Outperform Their Peers

These industrial stocks are outperforming their peers by using artificial intelligence, cloud computing, software and automation. 

Investors looking for a diversified position in industrial stocks could choose an exchange-traded fund (ETF), but they would need to tolerate the “sometimes-puzzling classification” of certain companies as industrials, said Bob Carlson, who serves as chairman of a pension fund and the head of the Retirement Watch investment newsletter. A broad-based fund that Carlson said he likes right now is iShares Global Industrials (EXI), an ETF that seeks to track the S&P Global 1200 Industrial Index. 

The fund holds 202 stocks and has 21% of its holdings in the 10 largest positions. The top holdings are Union Pacific Corporation (NYSE: UNP), United Parcel Service, Inc. (NYSE: UPS), Honeywell International Inc. (NASDAQ: HON), Siemens AG (OTCMKTS: SIEGY) and Raytheon Technologies Corporation (NYSE: RTX). 

Recently, about 53% of the fund was invested in U.S.-based companies and the other 47% in non-U.S. companies. The fund is up 14.85% for the year to date and is down 1.26% over the last three months.

Pension fund and Retirement Watch chief Bob Carlson answers questions from columnist Paul Dykewicz.

Five Industrial Automation Stocks to Buy Feature Honeywell

Honeywell International, Inc., a Charlotte, North Carolina-based provider of aerospace and building technologies, performance materials and technologies, as well as safety and productivity solutions, gained a buy recommendation from BoA. The diversified global industrial technology company has several business segments using enhanced automation and productivity offerings, according to BofA.

Process automation, estimated to produce $4.6 billion in 2021 revenue, has been the company’s historic area of strength, BofA wrote. Honeywell’s oil & gas mix composes 40-45% of the sub-segment.

In the past five years, Honeywell has established a strong presence in warehouse automation, which BofA estimates will total $3.2 billion in 2021. Honeywell has invested in organically developing software platforms across its markets under the Honeywell Forge brand, complementing existing hardware positions.

Chart courtesy of www.stockcharts.com

BofA Chooses Top Five Industrial Automation Stocks to Buy 

BofA forecasts total revenue at Honeywell rising at a 7% compound annual growth rate (CAGR) during 2020-2023, including 11% for automation & productivity revenue. The investment firm forecasts earnings before interest, taxes, depreciation and amortization (EBITDA) margins to expand from 24.0% in 2020 to 26.2% in 2023. This includes some mix benefit from the rebound of higher-margin Aerospace revenues to boost EBITDA estimates from $7.8 billion in 2020 to $10.6 billion in 2023 for a 10% CAGR.

Honeywell received a $270 price objective from BofA, based on 20x 2022E enterprise value (EV)/EBITDA. BofA’s target multiple is at a premium to Honeywell’s peers that trade at 18x EV/EBITDA estimates for 2021.

“We argue a premium is warranted given a more defensive portfolio yielding resilient margins and above average [earnings per share] growth,” BofA wrote. 

Risks to Honeywell achieving BofA’s price objective are acquisitions, if the company overpays for deals in the pursuit of diversifying and expanding into new, faster-growing adjacent markets, unforeseen future sales slowdowns due to economic pressures and execution of ongoing business simplification efforts, according to the investment firm.

Five Industrial Automation Stocks to Buy Include Rockwell Automation

Rockwell Automation (NYSE: ROK), a Milwaukee, Wisconsin-based global supplier of industrial automation equipment, software and services, holds a 3% share of the global automation market. The company’s market share is substantially higher in the United States, where it produces 53% of its revenue, reaching approximately 50% in key product categories.

The company received a buy rating from BoA and a $385 price objective, based on a 23x EV/EBITDA multiple of the investment firm’s estimate for 2023. The price target multiple is a premium to the 15x peer average on 2022 estimates.

BoA wrote that a premium is warranted due to higher returns and higher margins of ROK versus its peers. Upside to the price target could come from better global industrial production, improving global capital expenditure trends and potentially accretive acquisitions.

Risks to reaching the price objective may include weakened global industrial production, delays in global capital expenditure, greater competition and an unfavorable product mix, BofA wrote.

Chart courtesy of www.stockcharts.com

PTC Gains Place Among Five Industrial Automation Stocks to Buy

PTC Inc. (NASDAQ: PTC), a Boston-based computer software and services company, offers computer aided-design (CAD), product lifecycle management (PLM), internet of things (IoT) and augmented reality (AR) software. All those areas are showing strong growth and netted the company a buy recommendation from BofA.

For fiscal year 2021, ended in September, PTC generated $1.5 billion of annual recurring revenue (ARR). Rising industrial automation spending is a positive tailwind for PTC’s IoT and augmented reality offerings, which comprised 13% of PTC’s ARR at the end of fiscal year 2021, BofA wrote.

ThingWorx’s, PTC’s IoT platform, allows companies to collect, stream and analyze data from around a plant in an integrated real-time platform. BofA estimates PTC has a 5-8% market share in this space. 

Vuforia is the company’s augmented reality platform. BofA ranks PTC as the leading market provider with an estimated 10-12% market share.

Chart courtesy of www.stockcharts.com

Rockwell and PTC Deal Links Two of Five Industrial Automation Stocks to Buy

Rockwell Automation announced a partnership with PTC in 2018 that resulted in a combined offering called FactoryTalk Innovation Suite. It includes PTC’s IoT and AR software and Rockwell’s automation software products. The partnership has propelled Rockwell to become PTC’s single largest reseller.

BofA gave PTC a $160 price objective, based on 26x estimated 2022 EV/EBITDA. This is a discount compared to industrial software peers that trade around 30x on 2021 estimates, but BofA wrote that it is warranted given the below-average EBITDA margin. The price objective equals an 11x EV/Sales multiple on BoA’s 2022 estimates for the stock to fall below peer company valuations of 14x 2021 estimates.

Risks to BofA’s price objective stem from any macro weakness, sticky product and significant competition in core markets limiting market share gains, declines in discrete manufacturing activity and IoT and augmented reality new bookings slowing to below market growth. Plus, elevated leverage post OnShape and Arena acquisitions also pose risks, along with acquisition integration challenges, BofA wrote.

Emerson Electric Earns Spot Among Five Industrial Automation Stocks to Buy 

Emerson Electric (NYSE: EMR), a diversified industrial technology company headquartered in Ferguson, Missouri, adjacent to St. Louis, received a buy recommendation and a $120 price target from BofA. The price objective is based on a 16x EV/EBITDA multiple of BofA’s 2022 estimates.

The target multiple is a discount to multi-industrial peers trading at 20x 2021 estimates. BofA wrote the discount is fair, given above-peer oil & gas end market exposure.

Risks to Emerson Electric attaining the price target are a deterioration in energy capital expenditure outlook or oil price correction, an emerging market slowdown hurting the company’s growth and worse-than-expected trends in global heating, ventilation and air conditioning (HVAC) markets

The company’s Automation Solutions revenue of $11.6 billion in fiscal year 2021, ended in September, comprised 64% of Emerson Electric’s total revenue. Other divisions and their percentage of total company revenues are Climate Technologies, 26%, and Tools & Home Products, 10%. Emerson has a 4% share of the global automation market, with substantially higher market shares in key product categories within process industries, according to BofA.

Chart courtesy of www.stockcharts.com

AspenTech Lands on List of Five Industrial Automation Stocks to Buy

Aspen Technology, Inc. (NASDAQ: AZPN), known as AspenTech, is a Bedford, Massachusetts-based provider of software and services for the process industries. The company’s offerings include engineering, manufacturing execution system (MES), supply chain management (SCM) and asset performance management (APM).

On Oct. 11, AspenTech announced a transaction with Emerson in which the latter company bought a 55% stake in AZPN for $6 billion and the contribution of two software businesses to the combined entity. AZPN shareholders will receive 0.42 shares in New AZPN and $87 per share in cash upon the deal’s closing, which is expected in the second quarter of 2022. 

BofA wrote the combination offers meaningful growth synergies for AspenTech, particularly in newer end markets such as life sciences and metals and mining. Emerson Electric’s installed base and existing customer relationships should also be helpful in growing AspenTech’s asset performance management (APM) offerings, BoA added.

For now, BofA has a $176 price objective on AspenTech, applying a 25x EV/EBITDA multiple to its pro forma estimated 2022 EBITDA for New AZPN, as well as adding the $87 per share cash consideration. BofA’s target multiple is a discount to comparable companies that are trading at 32x 2021 estimates, reflecting above-peer EBITDA margins offset by AZPN’s greater exposure to oil & gas markets.

Risks to the price objective include oil price volatility and oil prices below $50, capital expenditure headwinds continuing beyond 2021 and the pending Emerson transaction. However, BoA forecasts “tailwinds” for industrial software firms AspenTech and PTC.

Sluggish Productivity Growth Spur Increased Spending on Innovation

Since 2010, U.S. manufacturing labor productivity has fallen, after increasing at a compound annual growth rate of 3.8% between 1990 and 2010.  Business mix has not driven the decline, since multiple industries show the same trend, BofA wrote. 

The impact of lower labor productivity can be seen in declining U.S. manufacturing profit margins during 2014-19. The trend is present in both government statistics and among publicly traded firms. BofA wrote that companies in its coverage have offset some of the structural headwinds with superior execution, aided by active portfolio management.

Wage Inflation Historically Leads to Productivity Investments

Wage inflation historically has served as a catalyst for investments in productivity-enhancing initiatives. Currently, U.S. manufacturing wages are rising at the fastest pace since 1982. Turnover and recruiting difficulties are further pressures.

In September alone, 337,000 U.S. manufacturing workers left their jobs, or 2.7% of the 12.5 million total. Even without the catalyst of COVID-19, history would suggest companies respond to wage inflation and labor scarcity with higher levels of industrial automation spending, according to BofA’s analysis.

Offshore Manufacturing and Global Supply Chains Slowed Before COVID

Trends toward offshoring and global supply chains slowed well before COVID-19. However, COVID-19 has raised concerns about supply chains, tariffs and geopolitical tensions, BofA wrote.

At a minimum, these issues pose additional hurdles for incremental offshoring or importing of components, BofA noted. The byproduct likely would be manufacturers increasingly turning to industrial automation.

Data Show Rising Trend Toward Automation Spending

Leaders of publicly traded U.S. industrial companies are mentioning automation more than ever in earnings conference call transcripts, BofA commented. Mentions of “automation” are 22% higher than comparable 2019 levels, continuing an upward trend since 2017, BofA added.

The third-quarter 2021 CFO Survey by the Federal Reserve Banks of Richmond and Atlanta, as well as Duke University, shows that 33% of respondents are investing in automation equipment in response to labor challenges. This fits with PwC’s June Manufacturing COO Survey of 600 chief operating officers that indicated 35% plan to increase factory automation. 

A September 2021 survey of more than 300 manufacturing companies by The Manufacturing Institute revealed strong interest in automation. Plus, 34% of respondents expect to accelerate investments in automation beyond pre-pandemic levels.

COVID-19 Risk Remains a Worry as Cases and Deaths Climb

The new Omicron variant of COVID-19, combined with the highly transmissible Delta variant, still are alarming public health and government leaders in the United States and other parts of the world. Those officials continue advocating increased vaccinations and booster shots, as well as indoor mask wearing.

The Centers for Disease Control and Prevention (CDC) has data that show the variants seem to be leading additional people to receive COVID-19 vaccinations. However, roughly 62 million people in the United States remain eligible to be vaccinated but have not done so, said Dr. Anthony Fauci, the chief White House medical advisor on COVID-19.

As of Dec. 14, 239,553,956 people, or 72.2% of the U.S. population, have received at least one dose of a COVID-19 vaccine, the CDC reported. That number has jumped more than 3,000 in the past week. The fully vaccinated total 202,504,037 people, or 61%, of the U.S. population, according to the CDC.

COVID-19 deaths worldwide, as of Dec. 14, exceeded 5.3 million, hitting 5,320,575, according to Johns Hopkins University. Worldwide COVID-19 cases have zoomed past 271 million, reaching 271,462,242.

U.S. COVID-19 cases, as of Dec. 14, topped 50 million to hit 50,233,338 and surpassed 800,000 deaths, climbing to 800,343. America has the dreaded distinction as the nation with the most COVID-19 cases and deaths.

The five industrial automation stocks to buy offer a way to profit from rising wages and COVID-19-related workforce shortages. For these stocks, the trend can be an investor’s friend.

Paul Dykewicz, www.pauldykewicz.com, is an accomplished, award-winning journalist who has written for Dow Jones, the Wall Street Journal, Investor’s Business Daily, USA Today, the Journal of Commerce, Seeking Alpha, GuruFocus and other publications and websites. Paul, who can be followed on Twitter @PaulDykewicz, is the editor of StockInvestor.com and DividendInvestor.com, a writer for both websites and a columnist. He further is editorial director of Eagle Financial Publications in Washington, D.C., where he edits monthly investment newsletters, time-sensitive trading alerts, free e-letters and other investment reports. Paul previously served as business editor of Baltimore’s Daily Record newspaper. Paul also is the author of an inspirational book, “Holy Smokes! Golden Guidance from Notre Dame’s Championship Chaplain,” with a foreword by former national championship-winning football coach Lou Holtz. The book is great as a gift and is endorsed by Joe Montana, Joe Theismann, Ara Parseghian, “Rocket” Ismail, Reggie Brooks, Dick Vitale and many others. Call 202-677-4457 for multiple-book pricing.

 

The post Five Industrial Automation Stocks to Buy in Response to Wage Inflation  appeared first on Stock Investor.

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Survey Shows Declining Concerns Among Americans About COVID-19

Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat"…

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6 hours ago

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March 11, 2024

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Survey Shows Declining Concerns Among Americans About COVID-19

A new survey reveals that only 20% of Americans view covid-19 as "a major threat" to the health of the US population - a sharp decline from a high of 67% in July 2020.

(SARMDY/Shutterstock)

What's more, the Pew Research Center survey conducted from Feb. 7 to Feb. 11 showed that just 10% of Americans are concerned that they will  catch the disease and require hospitalization.

"This data represents a low ebb of public concern about the virus that reached its height in the summer and fall of 2020, when as many as two-thirds of Americans viewed COVID-19 as a major threat to public health," reads the report, which was published March 7.

According to the survey, half of the participants understand the significance of researchers and healthcare providers in understanding and treating long COVID - however 27% of participants consider this issue less important, while 22% of Americans are unaware of long COVID.

What's more, while Democrats were far more worried than Republicans in the past, that gap has narrowed significantly.

"In the pandemic’s first year, Democrats were routinely about 40 points more likely than Republicans to view the coronavirus as a major threat to the health of the U.S. population. This gap has waned as overall levels of concern have fallen," reads the report.

More via the Epoch Times;

The survey found that three in ten Democrats under 50 have received an updated COVID-19 vaccine, compared with 66 percent of Democrats ages 65 and older.

Moreover, 66 percent of Democrats ages 65 and older have received the updated COVID-19 vaccine, while only 24 percent of Republicans ages 65 and older have done so.

“This 42-point partisan gap is much wider now than at other points since the start of the outbreak. For instance, in August 2021, 93 percent of older Democrats and 78 percent of older Republicans said they had received all the shots needed to be fully vaccinated (a 15-point gap),” it noted.

COVID-19 No Longer an Emergency

The U.S. Centers for Disease Control and Prevention (CDC) recently issued its updated recommendations for the virus, which no longer require people to stay home for five days after testing positive for COVID-19.

The updated guidance recommends that people who contracted a respiratory virus stay home, and they can resume normal activities when their symptoms improve overall and their fever subsides for 24 hours without medication.

“We still must use the commonsense solutions we know work to protect ourselves and others from serious illness from respiratory viruses, this includes vaccination, treatment, and staying home when we get sick,” CDC director Dr. Mandy Cohen said in a statement.

The CDC said that while the virus remains a threat, it is now less likely to cause severe illness because of widespread immunity and improved tools to prevent and treat the disease.

“Importantly, states and countries that have already adjusted recommended isolation times have not seen increased hospitalizations or deaths related to COVID-19,” it stated.

The federal government suspended its free at-home COVID-19 test program on March 8, according to a website set up by the government, following a decrease in COVID-19-related hospitalizations.

According to the CDC, hospitalization rates for COVID-19 and influenza diseases remain “elevated” but are decreasing in some parts of the United States.

Tyler Durden Sun, 03/10/2024 - 22:45

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Rand Paul Teases Senate GOP Leader Run – Musk Says “I Would Support”

Rand Paul Teases Senate GOP Leader Run – Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump…

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9 hours ago

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March 10, 2024

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Rand Paul Teases Senate GOP Leader Run - Musk Says "I Would Support"

Republican Kentucky Senator Rand Paul on Friday hinted that he may jump into the race to become the next Senate GOP leader, and Elon Musk was quick to support the idea. Republicans must find a successor for periodically malfunctioning Mitch McConnell, who recently announced he'll step down in November, though intending to keep his Senate seat until his term ends in January 2027, when he'd be within weeks of turning 86. 

So far, the announced field consists of two quintessential establishment types: John Cornyn of Texas and John Thune of South Dakota. While John Barrasso's name had been thrown around as one of "The Three Johns" considered top contenders, the Wyoming senator on Tuesday said he'll instead seek the number two slot as party whip. 

Paul used X to tease his potential bid for the position which -- if the GOP takes back the upper chamber in November -- could graduate from Minority Leader to Majority Leader. He started by telling his 5.1 million followers he'd had lots of people asking him about his interest in running...

...then followed up with a poll in which he predictably annihilated Cornyn and Thune, taking a 96% share as of Friday night, with the other two below 2% each. 

Elon Musk was quick to back the idea of Paul as GOP leader, while daring Cornyn and Thune to follow Paul's lead by throwing their names out for consideration by the Twitter-verse X-verse. 

Paul has been a stalwart opponent of security-state mass surveillance, foreign interventionism -- to include shoveling billions of dollars into the proxy war in Ukraine -- and out-of-control spending in general. He demonstrated the latter passion on the Senate floor this week as he ridiculed the latest kick-the-can spending package:   

In February, Paul used Senate rules to force his colleagues into a grueling Super Bowl weekend of votes, as he worked to derail a $95 billion foreign aid bill. "I think we should stay here as long as it takes,” said Paul. “If it takes a week or a month, I’ll force them to stay here to discuss why they think the border of Ukraine is more important than the US border.”

Don't expect a Majority Leader Paul to ditch the filibuster -- he's been a hardy user of the legislative delay tactic. In 2013, he spoke for 13 hours to fight the nomination of John Brennan as CIA director. In 2015, he orated for 10-and-a-half-hours to oppose extension of the Patriot Act. 

Rand Paul amid his 10 1/2 hour filibuster in 2015

Among the general public, Paul is probably best known as Capitol Hill's chief tormentor of Dr. Anthony Fauci, who was director of the National Institute of Allergy and Infectious Disease during the Covid-19 pandemic. Paul says the evidence indicates the virus emerged from China's Wuhan Institute of Virology. He's accused Fauci and other members of the US government public health apparatus of evading questions about their funding of the Chinese lab's "gain of function" research, which takes natural viruses and morphs them into something more dangerous. Paul has pointedly said that Fauci committed perjury in congressional hearings and that he belongs in jail "without question."   

Musk is neither the only nor the first noteworthy figure to back Paul for party leader. Just hours after McConnell announced his upcoming step-down from leadership, independent 2024 presidential candidate Robert F. Kennedy, Jr voiced his support: 

In a testament to the extent to which the establishment recoils at the libertarian-minded Paul, mainstream media outlets -- which have been quick to report on other developments in the majority leader race -- pretended not to notice that Paul had signaled his interest in the job. More than 24 hours after Paul's test-the-waters tweet-fest began, not a single major outlet had brought it to the attention of their audience. 

That may be his strongest endorsement yet. 

Tyler Durden Sun, 03/10/2024 - 20:25

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The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While “Waiting” For Deporation, Asylum

The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several…

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March 10, 2024

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The Great Replacement Loophole: Illegal Immigrants Score 5-Year Work Benefit While "Waiting" For Deporation, Asylum

Over the past several months we've pointed out that there has  been zero job creation for native-born workers since the summer of 2018...

... and that since Joe Biden was sworn into office, most of the post-pandemic job gains the administration continuously brags about have gone foreign-born (read immigrants, mostly illegal ones) workers.

And while the left might find this data almost as verboten as FBI crime statistics - as it directly supports the so-called "great replacement theory" we're not supposed to discuss - it also coincides with record numbers of illegal crossings into the United States under Biden.

In short, the Biden administration opened the floodgates, 10 million illegal immigrants poured into the country, and most of the post-pandemic "jobs recovery" went to foreign-born workers, of which illegal immigrants represent the largest chunk.

Asylum seekers from Venezuela await work permits on June 28, 2023 (via the Chicago Tribune)

'But Tyler, illegal immigrants can't possibly work in the United States whilst awaiting their asylum hearings,' one might hear from the peanut gallery. On the contrary: ever since Biden reversed a key aspect of Trump's labor policies, all illegal immigrants - even those awaiting deportation proceedings - have been given carte blanche to work while awaiting said proceedings for up to five years...

... something which even Elon Musk was shocked to learn.

Which leads us to another question: recall that the primary concern for the Biden admin for much of 2022 and 2023 was soaring prices, i.e., relentless inflation in general, and rising wages in particular, which in turn prompted even Goldman to admit two years ago that the diabolical wage-price spiral had been unleashed in the US (diabolical, because nothing absent a major economic shock, read recession or depression, can short-circuit it once it is in place).

Well, there is one other thing that can break the wage-price spiral loop: a flood of ultra-cheap illegal immigrant workers. But don't take our word for it: here is Fed Chair Jerome Powell himself during his February 60 Minutes interview:

PELLEY: Why was immigration important?

POWELL: Because, you know, immigrants come in, and they tend to work at a rate that is at or above that for non-immigrants. Immigrants who come to the country tend to be in the workforce at a slightly higher level than native Americans do. But that's largely because of the age difference. They tend to skew younger.

PELLEY: Why is immigration so important to the economy?

POWELL: Well, first of all, immigration policy is not the Fed's job. The immigration policy of the United States is really important and really much under discussion right now, and that's none of our business. We don't set immigration policy. We don't comment on it.

I will say, over time, though, the U.S. economy has benefited from immigration. And, frankly, just in the last, year a big part of the story of the labor market coming back into better balance is immigration returning to levels that were more typical of the pre-pandemic era.

PELLEY: The country needed the workers.

POWELL: It did. And so, that's what's been happening.

Translation: Immigrants work hard, and Americans are lazy. But much more importantly, since illegal immigrants will work for any pay, and since Biden's Department of Homeland Security, via its Citizenship and Immigration Services Agency, has made it so illegal immigrants can work in the US perfectly legally for up to 5 years (if not more), one can argue that the flood of illegals through the southern border has been the primary reason why inflation - or rather mostly wage inflation, that all too critical component of the wage-price spiral  - has moderated in in the past year, when the US labor market suddenly found itself flooded with millions of perfectly eligible workers, who just also happen to be illegal immigrants and thus have zero wage bargaining options.

None of this is to suggest that the relentless flood of immigrants into the US is not also driven by voting and census concerns - something Elon Musk has been pounding the table on in recent weeks, and has gone so far to call it "the biggest corruption of American democracy in the 21st century", but in retrospect, one can also argue that the only modest success the Biden admin has had in the past year - namely bringing inflation down from a torrid 9% annual rate to "only" 3% - has also been due to the millions of illegals he's imported into the country.

We would be remiss if we didn't also note that this so often carries catastrophic short-term consequences for the social fabric of the country (the Laken Riley fiasco being only the latest example), not to mention the far more dire long-term consequences for the future of the US - chief among them the trillions of dollars in debt the US will need to incur to pay for all those new illegal immigrants Democrat voters and low-paid workers. This is on top of the labor revolution that will kick in once AI leads to mass layoffs among high-paying, white-collar jobs, after which all those newly laid off native-born workers hoping to trade down to lower paying (if available) jobs will discover that hardened criminals from Honduras or Guatemala have already taken them, all thanks to Joe Biden.

Tyler Durden Sun, 03/10/2024 - 19:15

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