HOME | WHAT IS SOCIO TIMES? | CONTRIBUTE | ARCHIVES |
Pete Kendall's Socio Times: A Socionomic Commentary
CULTURAL TRENDS | SOCIAL CHANGE | MARKETS | ECONOMY | POLITICS


Thousands of immigration advocates marched through downtown Los Angeles in one of the largest demonstrations for any cause in recent U.S. history.

More than 500,000 protesters - demanding that Congress abandon attempts to make illegal immigration a felony and to build more walls along the border - surprised police who estimated the crowd size using aerial photographs and other techniques, police Cmdr. Louis Gray Jr. said.
Associated Press, March 25, 2006



April 2007
S M T W T F S
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30          

« Previous | Main Page | Next »

Size of L.A. March Surprises Authorities
Category: CIVIL UNREST
By: Pete Kendall, March 27, 2006

“Let’s be real: the U.S. is not about to arrest and herd millions of men, women and children into boxcars for transport back across the Rio Grande,” said an editorial. “That’s a nativist’s fantasy that will never come to pass.” But we caution such editorialists that in a major bear market, nativist and other fantasies of exclusion typically become stark reality.
The Elliott Wave Financial Forecast, February 2006

Here’s an issue that offers a full blend of bear market attributes: divesiveness, nationalism, alienation and anger. Back in 1998, when stocks were soaring, actions against illegal immigrates effectively ceased when it was ruled that immigration officials had to give employers a days notice before raiding their premises. With the pendulum now swinging in the direction of the bear, state and local governments are busily piling up reforms that fulfil The Elliott Wave Theorist's forecast for major changes in immigration laws. In a matter of days the issue is getting “larger, larger and larger. Today's news wire is full of stories about fast moving legislation in Washington and various state capitals and protesting high school students in Southern California that have taken to the streets. So far, the demonstrations are said to be peaceful, but they better watch out. They've also taken to the Harbor Freeway in downtown Los Angeles.

What's revealing about the outpouring is how fast it’s happening. In our February write up, “Putting the Il Back in Illegal Aliens,” we quoted one of the key anti-immigration figures in Congress, Tom Tancredo of Colorado: “I would have said to you a month ago or so, ‘Yeah, it’s definitely the case that I am a pariah.’ But it has changed. I’m respected. It leaves me speechless.” Here’s what the latest issue of Newseek says about Trancredo:

A Border War
Tom Tancredo may not be a household name yet, but he's doing everything he can to change that. As the House and Senate debate the nation's immigration and border-security laws, the four-term Coloradan has positioned himself as the loudest, angriest voice against the estimated 11 million illegal aliens now living in the United States. They are "a scourge that threatens the very future of our nation," he says. 

Tancredo may be a crank, he is a crank with a large and passionate following. Tancredo was one of the first politicians to tap into the latest surge of anger. In states with large numbers of undocumented workers, voters complain that poor illegals are overwhelming public schools, clogging hospital emergency rooms and bankrupting welfare budgets. And they worry that inadequate border security makes it easy for would-be terrorists to sneak into the country. Tancredo's colleagues are listening. When he arrived in Washington, he started the Immigration Reform Caucus. The group attracted just 16 members. Today, there are 91.

Tancredo's anti-immigration campaign is also brazenly, almost gleefully, taking aim at George W. Bush and Karl Rove. The president had once hoped the immigration debate would center on his proposed guest-worker program, which would allow illegals—who fill millions of unskilled, low-wage jobs—to stay in the country for a set period of time.
Newsweek, April 3, 2006
 

 

Notice the Bush bashing at the end. This is another trend that fits in squarely with our forecast, see entries of Bush Quietly Says No Need Follow Patriot Act Oversight Measure, Bush the "Incompetent" and 14 US House Reps Want Bush Impeach Probe. The Dow Jones Industrial Average tells us the bear market is still under wraps, but these quick moving trends tell us that beneath the surface, the bear market is making headway.

Additional References
February 2006, EWFF
Putting the Il back in Illegal Aliens
Another manifestation of a bear market is the attitude toward immigration. First, recall what The Elliott Wave Theorist said on the subject in October 2003: “The U.S. will increase restrictions on immigration.” Last month, over two years after our forecast, the U.S. House of Representatives passed the “toughest immigration legislation in more than a decade.” The bill includes “provisions that once seemed unthinkable to many lawmakers, like the construction of five fences across 698 miles of the United States border with Mexico.” As EWT has noted, in bear markets, “people build walls and fences to shut out those perceived to be different.” Tom Tancredo, the Colorado Congressman behind the fence idea (he also wants to add one along the border with Canada), marvels at his sudden move into the mainstream. “I would have said to you a month ago or so, ‘Yeah, it’s definitely the case that I am a pariah.’ But it has changed. I’m respected. It leaves me speechless.” It was only last summer that Business Week’s cover story on “Embracing Illegals” stated that companies “are getting hooked on the buying power of 11 million undocumented immigrants.” “Let’s be real: the U.S. is not about to arrest and herd millions of men, women and children into boxcars for transport back across the Rio Grande,” said an editorial in the same issue. “That’s a nativist’s fantasy that will never come to pass.” But we caution such editorialists that in a major bear market, nativist and other fantasies of exclusion typically become stark reality. And the brunt of this bear market is still to come.
Post a comment




(you may use HTML tags for style)

RECENT ARTICLES
April 16, 2007
Does Imus Cancellation Radio a Bear Market Signal?
read more
April 12, 2007
One Small Coffee Shop Uprising for Starbucks, a Grande Leap for Labor
read more
April 11, 2007
Dazzling Finish: Cars Bring Once-Boring Shades To Life
read more
April 10, 2007
T in T-Line Stands for Top
read more
April 5, 2007
The Fight for a Free Vermont? Must be a Big, Big Turn
read more

ARTICLE COMMENTS


HOME | WHAT IS SOCIO TIMES? | CONTRIBUTE | SEARCH    Copyright © 2020 | Privacy Policy | Report Site Issues