Live Trading News
Shayne Heffernan

Biden Betrays American Workers during Ongoing Economic Crisis

By Shayne Heffernan2 min read

The following statement was released in response to the Biden administration's impending decision to let a guestworker pause expire in the middle of an ongoing economic crisis triggered by the COVID-19 pandemic. The statement should be attributed to Dan Stein, president of the Federation for American Immigration Reform (FAIR).

"President Biden loves to portray himself as a champion of the working class and a tireless defender of unemployed Americans, but today he showed his true colors. By restoring unfettered access to cheap foreign labor in the middle of an economic downturn, it shows how incredibly disconnected and uncaring he really is.

"Sadly, many of the jobs that were lost after COVID-19 first struck will never return.  Now the very workers who held them will be competing toe-to-toe with foreign guestworkers, many of whom are willing to be paid less than their American counterparts. This move not only undermines the American worker but underscores President Biden's thoughtless disregard for the American worker and his failure to understand that first and foremost, immigration policy must serve the national interest.

"Millions of Americans still remain out of work. Even worse, the unemployment rate for the bottom quartile of Americans – many who compete with guestworkers and illegal aliens for jobs – is a staggering 23 percent. In a couple months, millions of American college students will graduate facing dim job prospects, and many will struggle to find meaningful employment. They too will now compete for limited openings with tens of thousands of guestworkers. This is unconscionable and devoid of common sense. Allowing this pause to expire reveals that President Biden is more interested in protecting access to cheap foreign labor at the expense of struggling Americans. 

"President Biden inherited a country that was in the middle of two of the biggest crises our nation has ever faced: A global pandemic that has killed over 550,000 Americans coupled with an economic crisis that has caused millions to lose their jobs and life savings. Blindly, his administration dismantled nearly every facet of border enforcement this nation had in place, causing the biggest rush of illegal aliens to the border in two decades. Many of these illegal aliens will be seeking jobs right along with their foreign guestworker counterparts. We hope the American people are watching."

Advertisement
Target150
Keep reading
Ontology

Ontology Is the Idea Finance Has Been Missing

The world created around 181 zettabytes of data in 2025, and AI adds more every day than anyone can read. The scarce resource is no longer data or compute. It is understanding, and understanding is a picture. Shayne Heffernan on ontology, the visual layer that turns infinite data into insight, and why finance, banking and regulation need it most.

Shayne Heffernan18 min
Week Ahead

Economic Calendar and Trading Strategies for the Week Ahead: July 14–18, 2026

A pivotal week for markets: US strikes on Iran reignite the oil risk premium, June CPI and retail sales test the Fed's rate-cut path, and the $1 trillion AI capital loop keeps driving the tech trade. Full economic calendar plus trading strategies across oil, gold, Bitcoin, FX and AI stocks.

Shayne Heffernan25 min
Ontology

Ontology: Agentic AI and Infrastructure

The AI trade so far has been a compute trade. The next leg is a meaning trade — and ontology, secured and settled, is the layer almost everyone is skipping. Shayne Heffernan on why ontology is the missing layer in agentic AI, and the infrastructure it needs.

Shayne Heffernan15 min
quantum computing

Quantum Computing Just Became an Institutional Risk

Shayne Heffernan on BlackRock's quantum-computing warning for Bitcoin and Ethereum, Google's cryptanalysis research, the two on-chain risk vectors, and how KXCO's Armature L1 — post-quantum from genesis, coordinated by its ontology — answers a threat that just went institutional.

Shayne Heffernan10 min
Read Live Trading News on Telegram

Every story, signed and delivered.

Subscribe to the kxco channel and get the headline, the AI-written key takeaways, and the chain-anchor link the moment we publish. Audio versions and per-ticker subscriptions arrive in the next iteration.

Open @KnightsbridgeInsightsNo email required.