Happy Friday everyone.
Markets this week continue to bore me as our portfolios trickle down with more red so wanted to touch on one of the hotter news updates this week from the United States, one that is drawing intense division on the internet and social media.
The White House put out some regulatory guidance on cryptocurrencies yesterday but unfortunately they highlight that most pose a risk while CBDCs (Central Bank Digital Currencies) could be a viable option in their eyes - we will be sure to touch on market reviews and this huge news next week but for now let’s get spicy on a Friday.
Quick note - We will be putting out a comprehensive guide on Monday morning for all premium subs on how to get a job at a hedge fund for those interested (fyi our subscription is $0.75/a week). The subscription pays for itself multiple times over and we’ve kept it low to make it accessible to everyone. But enough on that.
The DeSantis Switcheroo
In case you didn’t hear about it, in a diabolical move that seems straight out of house of cards, Governor Ron DeSantis of Florida sent two planes carrying illegal immigrants allegedly from Venezuela to the small Massachusetts island known as Martha’s Vineyard on Wednesday.
Venezuela has for years been undergoing a severe economic crisis and food shortages under its socialist regime.
Cities like El Paso look apocalyptic now with thousands of immigrants living in the streets and sleeping across the city with no access to showers, restrooms, or hot food.
DeSantis says the act was part of a $12M initiative to move undocumented immigrants from Florida to designated sanctuary cities, A move that other republican leaders including Texas state Governor Greg Abbott and Arizona governor Doug Doucey have also employed sending illegal immigrants to Chicago, New York, and Washington DC in efforts to coerce the Biden administration to do something about the mass of people entering each day.
In New York City for instance activists are calling the massive overflow of homeless shelters one of the worst shelter failures in over 10 years given the lack of appropriate housing and room for the swath of new illegal immigrants.
Twitter and other left leaning media outlets absolutely lost their minds on Thursday.
But this isn’t a phenomenon unique to Republicans and you should know that. Supreme leader Biden himself has been guilty of air dropping illegal migrants in Westchester County, NY (a small airport and wealthy county).
Taryn M. Fenske, the communications director for Gov. Ron DeSantis of Florida said the following:
“States like Massachusetts, New York and California will better facilitate the care of these individuals who they have invited into our country by incentivizing illegal immigration through their designation as ‘sanctuary states’ and support for the Biden administration’s open border policies”.
While some are going to argue this is a dirty ploy or trick used for political gain, ask yourself, why is this any different than dumping thousands of migrants a day on border states and doing nothing about it?
The answer is, it’s not any different and the act has certainly had one of it’s intended outcomes, attention.
Here’s the thing guys. Border”politics” shouldn’t really be a divided issue. The right and wrong of the issue is black and white.
People and families that are trying to migrate from poor countries, countries in struggle or war, and poor conditions should have the option to escape those live’s and seek a better future - but they should not be able to do that at the expense of people that already live n the United States.
Sorry if that hurt’s your feelings but that’s literally just common sense. It’s wild to me that I have to actually lay that out and it’s even crazier to see how many people on Twitter and the internet try to make this issue more complex than it is.
This concept goes back to the days of my youth I would waste playing of Age of Empires II.
Build your wall and keep foreigners out of your kingdom that don’t have the proper go ahead or you will have scaling issues and watch your resources, supply lines, and communities crumble from an inability to provide and facilitate assimilation.
This is really 1+1 = 2 stuff guys.
There are very few countries in the world that have an open border and simply allow whoever to wander on in and do what they want, and the ones that do, have serious issues with resources and assimilation.
It’s quite remarkable how the US partisan political divide has allowed for there to be some grey area where illegal immigrants just get a pass to do whatever they want.
In fact, many countries in the world have severe penalties, including shooting or harming you, for breaking immigration laws or being caught illegally without proper authorization or approval to have come in.
Why is this concept so hard to understand? Well for starters, immigration is an easy issue to take, twist, and virtue signal on for political gain.
Sure in theory it sounds great to be the perfect person who is willing to accept mounds and mounds of undocumented immigrants with open arms and have everything end kumbaya but that’s just not the reality and the funny part is the residents of Martha’s Vineyard are proving that with a measly 50 people when border towns and states have been dealing with up to 5,000 a day for the last several years.
And look - I applaud the residents of Martha’s Vineyard that have provided food, shelter, and accommodations but let’s be clear about two things.
The first is, island officials are already saying they can’t take care of people that showed up long term (it’s 50 people), and second of all, virtue signalers are missing the point.
The point is, that no American community should be surprised or have to deal with influxes of undocumented immigrants since well, it’s illegal.
It’s not evil or despicable for DeSantis to send them to Martha’s Vineyard because they would be in Texas or southern cities anyway and then Texans would bear the brunt of taking care of them. See the problem?
Yes it’s awful that these people are caught up in politics, but why aren’t we all trying to cure the root of the issue, which is that we have tens of thousands of illegals crossing our border every week. That is not sustainable for ANY city in America.
Talk about irony.
When you don’t properly vet people or enforce a standard immigration policy you:
Lose any national credibility for proper procedure
Allow criminals and dangerous people to enter unvetted
Encourage even more people to come try to get in illegally
Overflow communities and cities who aren’t prepared to handle volume of people (Marthas Vineyard, NYC, Chicago, etc.)
This isn’t meant to sound insensitive - we completely understand that people are looking for a better life and are oftentimes running from horrific conditions to seek a better life in America, but when people traveled from the old world through Ellis Island they did it legally and followed the process.
The complete disregard for law and procedure is a relatively new phenomenon in the last 10 years and it’s effects are quite detrimental to the United States.
President Biden’s administration seems to have loosely adhered to an open border policy by which large amounts of undocumented immigrants have been allowed to continue entering the United States.
At present nearly 8,000 migrants are crossing the United State’s southern border each day and the Biden administration is apparently canceling a DHS (Department of Homeland Security) plan to mitigate the crisis a the border, opting to not send groups to states bordering Canada, apparently enraging senior officials.
Back in Martha’s Vineyard we are seeing an interesting response from the locals about the surprise that Desantis sent them. DeSantis took the stunt one step further by bussing the immigrants from the Tarmac to the Naval Observatory, which is right next to Kamala Harris’ residence.
Some residents immediately took action and helped put up some of the immigrants and provided food and water. The question
The White House expressed it’s disdain for the situation shortly after it transpired.
“It’s really just disrespectful to humanity. It is — it doesn’t afford them any dignity, what they’re doing, when you’re abandoning families and children in a place where they were told they were going to get housing, in a place where they were told they were going to get jobs,” White House press secretary Karine Jean-Pierre said. “It is just cruel.” (TheHill).
You know what else doesn’t afford them dignity lol? Letting them come in by the tens of thousands with no plan for them except to put them in detention camps, city streets, and facilities in southern states.
On Friday reports suggest that the immigrants were put back on buses and actually sent off island to the mainland - proving that they are in fact not welcome. 50 people.
Do I think it’s ideal to send families and people to Martha’s Vineyard? Of course not. I do feel for them on a human level. But what you have to understand is that if they aren’t there, they’re going to be in Texas or Florida doing the same exact thing.
The entire point of this is that an affluent liberal hotbed like Martha’s Vineyard is full of multi million dollar homes and it has been toting that it is a sanctuary city, virtue signaling that they are good people that welcome all kinds of diverse individuals - no matter the cost.
They’ve virtue signaled and lectured red states on why they should continue to accept these undocumented immigrants and feed them, pay them, give them jobs, etc.
Then when the tables turn, all hell breaks loose and suddenly DeSantis is the bad guy? Cause he used them as pawns? They’re already pawns from the minute they step over the border.
That just doesn’t make sense guys, you have to see the irony there. It’s along the lines of do as I say not as I do.
"We're not a sanctuary state... What would be the best is for Biden to do his damn job and secure the border!"
-Ron DeSantis
Ron DeSantis had plenty of follow up commentary this week.
“We take what's happening at the southern border very seriously, unlike some, and unlike the president of the United States who has refused to lift the finger to secure that border,” he said, noting the record number of people and drugs transiting across the 2,000-mile U.S.-Mexico border.
Whether or not you like DeSantis, he has a point. Any person with basic critical thinking skills can understand this.
Why should Florida, Texas, and other states have to deal with illegal immigrants while they receive no help from the federal government? The core issue at play here is that we have not secured our southern border. That’s it.
Focusing on the “inhumanity” “cruelness” or other litany of emotional names the left is hurling is a complete avoidance of the issue at hand which is that the larger problem is being ignored at the border. Guess what?
Fix the border issue and you will no longer have immigrant families, individuals, and children that end up in US cities with nowhere to go, no food, no jobs, and no resources. I can’t get around the fact that instead of helping to solve the border crisis, this is now just becoming another partisan political argument about who did what.
Here’s the bottom line.
The border crisis has been completely ignored by the current administration and certain groups on the left. Cities and regions, like Martha’s Vineyard, have declared themselves “sanctuary cities” by which they have marketed themselves as willing to take in undocumented immigrants.
But now that the physical ramifications and reality of the loose policies lands smack in their backyards they are suddenly unable to accomodate immigrants?
That’s absolute bullshit lol and we’re going to call it like it is.
The fact is, ideally, no US city suffers from an unexpected influx of undocumented people. That doesn’t downplay the humanity and seriousness of having migrants displaced and re located along political lines, but you don’t get to declare yourself a sanctuary for illegal aliens, do nothing to right the massive core issue, and then virtue signal by pretending you’re okay with it when it happens while simultaneously suggesting you can’t accomodate group of migrants long term - which just proves the original point which is that illegal immigration causes avoidable issues.
This is common sense stuff and I really don’t understand why the issue is made out to be so much more complicated.
Fix the border. Implement proper immigrant procedures to get families and individuals into the country LEGALLY and this becomes a nonexistent issue.
Instead we’re watching republicans exacerbate the problem in petty manners, while liberals pretend to be okay with the ever present immediate problems and consequences that come with having virtually no border security.
And for the record - if you think it’s racist or xenophobic to have proper border policy enforced for a modern nation, you’re an utter moron.
You can understand and empathize with the peril, risks, and danger these people experience trying to get to a better life while simultaneously understanding the implications of allowing unfettered access to your country.
See you all Monday for our guide on getting roles at hedge funds. Let me know what your take is in the comments and have a great weekend.
Great article. It's a shame you have to spell out what should be a rational train of thought. I remember learning how to critically think back in school..
Thinking Dems have an open border policy is laughable at best. Biden and Obama both deported more people than Trump ever dreamed of. It’s all a political game, always will be for both sides. Both parties are wholly uninspired to fix any issues, not just immigration. We have plenty of resources and land to accommodate people seeking asylum. We have plenty of resources to help the people that need help right now who are American citizens, we just chose to direct the money hose towards capital, military, and austerity, rather than helping people. Immigration, poverty, housing is all a policy choice and can all be solved pretty simply if we so desire.