Peter St Onge Podcast Ep 149 Weekly Roundup: Americans Have Jobs. Foreigners do not.
8 snips
Dec 1, 2025 This week, a surge in jobs for native-born Americans contrasts sharply with a drop in foreign-born employment. A looming energy crunch driven by AI data centers raises concerns about electricity supply. The failure of a Universal Basic Income trial highlights its negative employment impact. Consumer confidence is faltering, revealing troubling expectations for the future. Meanwhile, disillusioned college grads are turning to radical leftist ideologies, linking a declining wage premium to their frustrations.
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Jobs Gain Masked By Worker Origin
- Native-born American employment rose ~2 million while foreign-born employment fell ~1.6 million in the September CPS report.
- Peter St Onge argues apparent weak jobs data is largely a foreign-born decline, not native-born weakness.
GDP Boom Cuts Need For Stimulus
- Strong GDP (~4%) and private investment reduce the need for Fed stimulus according to Peter St Onge.
- He warns continued growth and reshoring could rekindle inflation and political costs for Republicans.
AI's Massive Energy Appetite
- AI data centers already consume huge electricity, rivaling countries and doubling demand yearly.
- Peter St Onge says fossil fuels and new nuclear must scale fast or consumer bills and grid collapse risks will rise.
