The bond market has been sensitively tuned to every jobs report or every jobs indication we have with the jolts and the adp number. The jolts showed a stronger number when it came to jobs. As we head into that, you see dow futures up 26 points. S p up 4. Nasdaq up 21. The treasury market, again, everybody is watching. 10year treasury is 4. 27 . The 30year treasury is below that at 4. 91 . Crude oil prices have been down. Wti is trading at 82. 40. We have been north of that this week. The demand picture is the question. The supply picture turned to the demand. We decided it was supply. Demand. Iaea showing a backlog of gasoline. As prices get higher, are consumers less able or willing to pay for gasoline or cutting back on driving . Fascinating if you believe the fed is not driving any more, then a soft jobs number and that doesnt mean yields fall. You suddenly believe the fed will keep rates higher for longer. This is what mary daly said yesterday. She said we will get it back to 2 . T
Rhetorical connection. Theres some, a deeper connection in some ways that i think is worth exploring. So i think thats part of the what i think is fueling this, its the next Civil Rights Movement. [ inaudible ] especially with little ma li. Can you wait for a mic please . I think were changing the whole idea. Racial profiling. Not race, but theyre so mixed now. I mean, the huge diversity of a latin latinos, and i love the millennials. Theyre whatever, everything. Peruvian, chinese, mormons, theyre my best friends. How do you racially profile in this incredibly, this is the question in affirmative action people are talking about now, too. Im not sure that dynamic of the 60s, i think in some ways were more like the 1920s now than we are the 1960s with huge income inequality, the fear of war, fear of foreign invasion. Tremendous difference in working conditions. And that was what drove a law that people wanted more border control, not less. I think were heading more for that in the public
Federal level in the United States. And thats what i really want to focus on. It creates then a cascade of problems that political and legal developments attempt to grapple with. They attempt to grapple with it without addressing that fundamental disconnect at the heart of the 1965 law and so you see a series of enactments at both the state and federal level that are, perhaps we could say, biting around the edges of the problem but not really getting to the root of it itself. So immediately after 1965, or very soon thereafter, you start to see some of the effects of the state level. In 1971 california passes an employer sanctions law. For the first time its able to sort of connect the idea of who should be working within california to the concept of illegality that the 1965 act helped set up. California is in a fairly 1971, yeah. California is in a recession at this point. This law, this employer sanctioned law that stops employers in california from or at least penalizes employers fro
Us in terms of harvesting cotton and tomatoes. At the end of the basero program is one Significant Impact. Also what we see at the same time was there was not not only was there a number of visas available to mexican nationals, right, but we also see a shift in the temporary worker programs. So at this time, there had been, prior to 1965, a temporary worker program, h2 program. It was relatively small in scale and continues to be relatively small in scale. Prior to 1965, the burden was on the government to show that the workers that were coming in under the temporary programs would not harm the u. S. Workforce. Beginning in 1965, that burden then shifted to employers. What this meant was there was more of an active, exantiscreening role that the government played in determining which temporary workers and generally which foreignborn workers would be able to come into the United States, giving the government more control in terms of limiting the access of mexican and other latinamerican
Of the law and africanamericans that gets relatively little attention but deserves more. In they often talk about latinos it reflects what it means for africanamericans there is a very vigorous debate is positive for harmful to say there is a positive impact and they tend to be more positive in terms of the Economic Impact overall. There are other general studies that have done some wage impact to get the same time to look to the industries where employers have intentionally chosen to replace traditionally vulnerable groups as a longstanding Latino Community and that is purposely with a guest workers are more exploitable and former paul. Formidable. But think of it as civil rights and equity. The of the ways in which the undocumented population has affected the latino communities with racial profiling and discrimination we have to ask ourselves what is the impact on communities of color . Antiminority attitudes another way to look at it that has spurred the growth including the Immigra