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Filtering by entity: Calvin Coolidge | Clear Filter
Summary:The post advocates for a new, restrictive immigration act, citing the 1924 Immigration Act as a historical precedent that led to American societal prosperity, assimilation, and a booming economy. It claims that current levels of foreign-born population and the diversity of cultures necessitate a national policy shift, arguing for a bipartisan effort to enact another immigration act.
Sentiment:Advocating
Key Claims:
- President Calvin Coolidge signed The Immigration Act of 1924, which restricted immigration.
- Coolidge stated that new arrivals should be limited by America's capacity to absorb them, to keep America 'American', requiring restricted immigration.
- The 1924 Act received overwhelming bipartisan support from Democrats and Republicans.
- The 1924 Act introduced tight immigration quotas, new visa requirements, established the Border Patrol, and banned immigrants from cultures deemed incompatible.
- The 1924 Act significantly reduced immigration, allowing a prior 'great wave' of immigrants to assimilate.
- American society thrived in the 1940s and 1950s, characterized by a booming economy, rising middle class, common culture, and limited immigration due to the 1924 Act.
- Since the 1924 Act's repeal in 1965, the US has experienced decades of extensive legal and illegal immigration.
- The current foreign-born population in the US is higher in both raw number and percentage than in the early 1900s.
- Current 'mass immigration' involves 'vastly different cultures' compared to the predominantly European immigration accepted historically.
- A national policy shift towards restricted immigration is needed again and should be bipartisan.
- It is time to enact another Immigration Act.
- The accompanying image visually represents a large number of people attempting to enter the US through a restrictive 'GATE' set at '3%', overseen by Uncle Sam.
Potential Market Impact (S&P 500):2/10
Potential Geopolitical Risk:0/10
Potential Global Cross-Asset Impact:2/10
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