Serious Economist cels (GTFIH) — wouldn't this be bad for first world countries?

[ONION BURPS]

View: https://youtube.com/shorts/-xf9P_B-07s?si=LDfEf1wCHk5IGK5G


I have seen so many ads for "Remitly" the past few days. Basically ethnics saying, "Hey! I sent my family back in Mexico some money and they bought a brand new TV."

I don't know shit about economical stuff or currency devaluing.... But, intuitively this seems fucked. Like aren't they siphoning money out of 1st world countries? Wouldn't that affect us horribly if practiced on a mass scale?

 

[pixy.BITCOINBASTARD]

Like aren't they siphoning money out of 1st world countries? Wouldn't that affect us horribly if practiced on a mass scale?

All migrants legal and illegal are doing this lmao. Why do you think they're willing to work shitty jobs for so little? Because they're "hard workers" lmao. Nah, they live much better lives than us in their home countries because of the currency diffrence.

That being said it will affect their local economies much more because they're getting an influx of cash that is much stronger than their local currency and as more of that cash comes in the business will need to adjust their prices and thus inflate the economy. The US government pumps tons of cash into the economy so the Fed's money printing would outweigh any deflation we get from this.

 

[randombrucetv]

View: https://youtube.com/shorts/-xf9P_B-07s?si=LDfEf1wCHk5IGK5G


I have seen so many ads for "Remitly" the past few days. Basically ethnics saying, "Hey! I sent my family back in Mexico some money and they bought a brand new TV."

I don't know shit about economical stuff or currency devaluing.... But, intuitively this seems fucked. Like aren't they siphoning money out of 1st world countries? Wouldn't that affect us horribly if practiced on a mass scale?

it is practiced on a mass scale all the time, its like 3% of the GDP of india for example, but workers generate vastly more economic output then they are given wages and without workers nothing would be produced (if there was no job done because of lack of labour) so its still beneficial to have migration

 

[KetamineAddictYoda]

No. This has been occurring for over a century and gives the host country cheap labor.

 

[unhinged]

View: https://youtube.com/shorts/-xf9P_B-07s?si=LDfEf1wCHk5IGK5G


I have seen so many ads for "Remitly" the past few days. Basically ethnics saying, "Hey! I sent my family back in Mexico some money and they bought a brand new TV."

I don't know shit about economical stuff or currency devaluing.... But, intuitively this seems fucked. Like aren't they siphoning money out of 1st world countries? Wouldn't that affect us horribly if practiced on a mass scale?

The only bad thing about this is that it's a horrible business model. How are they going to make a profit if they don't charge fees on 1000+ transactions

 

[Stargazer25]

No, if anything, this will enable first-world countries to "export their inflation" overseas due to the large volume of currency in circulation... at least in theory. The amount of currency printed by the central banks of Anglo countries, particularly the US, is out of control.

From a demographic perspective, this will enable more curries to move to Canada, leading to the "repatriation" of exported money back to Canada, which will increase inflation even harder. Additionally, it will saturate the job and housing markets, potentially causing Canada to to become a third world shithole before anyone realizes, due to the large influx of curries and the influx of previously exported money.

 

[Stargazer25]

it will affect their local economies much more because they're getting an influx of cash that is much stronger than their local currency and as more of that cash comes in the business will need to adjust their prices and thus inflate the economy.

Smart nigga