A Reuters study on consumer spending indicates that Latino spending for non-essential goods and services is in a sharp decline. A recent surge in deportations is causing Latinos, even those who are U.S. citizens, to curtail their shopping out of fear of deportation or harassment. The CEO of Target, Brian Cornell, says that Latinos are staying home and going out less often. Experts say that brands popular with Latinos such as Nike, Sketchers, and Vans could take a big hit however, essentials, such as food and household items, are showing less of an impact. In my view, this is only the tip of the iceberg. Latinos are the U.S. economic drivers behind everything from consumer spending to labor force growth. While Latinos are extremely resilient, bounce back spending typically occurs very gradually. It will be fascinating to see how our policy makers respond once corporate profits and the national GDP start to tank.
The large majority of undocumented immigrants are decent, hard-working people desperate for a better life in America. However, there are also some bad apples, violent criminals that not only terrorize our communities but also damage the image of Latinos in America. Trump promised to prioritize criminals in his deportation plans. In the first few weeks in office, the data shows that...
When the government tries to tackle a specific issue with a policy, it often causes new variations of the problem to emerge in different areas. In other words, "any action has an equal and opposite reaction." When taxes and regulations are reduced, as is expected in 2025, two things tend to happen: those at the bottom economically have it tougher because there are fewer safety nets and protections. Those at the top make a killing.
Next week, I will be speaking at a Hispanic Leadership Summit at the United Nations. I was asked to speak on the topic of Unity. The following is a preview of my speech.