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  • Macaca
    12-27 06:50 PM
    A crucial connection (http://timesofindia.indiatimes.com/home/opinion/edit-page/A-crucial-connection/articleshow/7173785.cms) By Michael Kugelman | Times of India

    With India's soaring growth and rising global clout hogging media headlines, it is easy to forget the nation is beset by security challenges. Naxalite insurgency rages across more than two-thirds of India's states, while long-simmering tensions in J&K exploded once again this summer. Meanwhile, two years post-Mumbai, Pakistan remains unwilling or unable to dismantle the anti-India militant groups on its soil. Finally, China's military rise continues unabated. As Beijing increases its activities across the Himalayan and Indian Ocean regions, fears about Chinese encirclement are rife.

    It is even easier to forget that these challenges are intertwined with natural resource issues. Policy makers in New Delhi often fail to make this connection, at their own peril. Twenty-five per cent of Indians lack access to clean drinking water; about 40 per cent have no electricity. These constraints intensify security problems.

    India's immense energy needs - household and commercial - have deepened its dependence on coal, its most heavily consumed energy source. But India's main coal reserves are located in Naxalite bastions. With energy security at stake, New Delhi has a powerful incentive to flush out insurgents. It has done so with heavy-handed shows of force that often trigger civilian casualties. Additionally, intensive coal mining has displaced locals and created toxic living conditions for those who remain. All these outcomes boost support for the insurgency.

    Meanwhile, the fruits of this heavy resource extraction elude local communities, fuelling grievances that Naxalites exploit. A similar dynamic plays out in J&K, where electricity-deficient residents decry the paltry proportion of power they receive from central government-owned hydroelectric companies. In both cases, resource inequities are a spark for violent anti-government fervour.

    Resource constraints also inflame India's tensions with Pakistan and China. As economic growth and energy demand have accelerated, India has increased its construction of hydropower projects on the western rivers of the Indus Basin - waters that, while allocated to Pakistan by the Indus Waters Treaty, may be harnessed by India for run-of-the-river hydro facilities. Pakistani militants, however, do not make such distinctions. Lashkar-e-Taiba repeatedly lashes out at India's alleged "water theft". Lashkar, capitalising on Pakistan's acute water crisis (it has Asia's lowest per capita water availability), may well use water as a pretext for future attacks on India.

    Oil and natural gas are resource catalysts for conflict with China. Due to insufficient energy supplies at home, India is launching aggressive efforts to secure hydrocarbons abroad. This race brings New Delhi into fierce competition with Beijing, whose growing presence in the Indian Ocean region is driven in large part by its own search for natural resources.

    India's inability to prevent Chinese energy deals with Myanmar (and its worries about similar future arrangements in Sri Lanka) feeds fears about Chinese encirclement, but also emboldens India to take its energy hunt further afield. Strategists now cite the protection of faraway future energy holdings as a core motivation for naval modernisation plans; India's energy investments already extend from the Middle East and Africa to Latin America. Such reach exposes India to new vulnerabilities, underscoring the imperative of enhanced sea-based energy transit protection capabilities.

    While sea-related China-India tensions revolve around energy, land-based discord is tied to water. South Asia holds less than 5 per cent of annual global renewable water resources, but China-India border tensions centre around the region's rare water-rich areas, particularly Arunachal Pradesh. Additionally, Chinese dam-building on Tibetan Plateau rivers - including the mighty Brahmaputra - alarms lower-riparian India. With many Chinese agricultural areas water-scarce, and India supporting nearly 20 per cent of the world's population with only 4 per cent of its water, neither nation takes such disputes lightly.

    India's resource constraints, impelled by population growth and climate change, will likely worsen in the years ahead. Recent estimates envision water deficits of 50 per cent by 2030 and outright scarcity by 2050, if not earlier. Meanwhile, India is expected to become the world's third-largest energy consumer by 2030, when the country could import 50 per cent of its natural gas and a staggering 90 per cent of its oil. If such projections prove accurate, the impact on national security could be devastating.

    So what can be done? First, New Delhi must integrate natural resource considerations into security policy and planning. India's navy, with its goal of developing a blue-water force to safeguard energy resources overseas, has planted an initial seed. Yet much more must be done, and progress can be made only when policy makers better understand the destabilising effects of resource constraints. Second, India should acknowledge its poor resource governance, and craft demand-side, conservation-based policies that better manage precious - but not scarce - resources. This means improved maintenance of water infrastructure (40 per cent of water in most Indian cities is lost to pipeline leaks), more equitable resource allocations, and stronger incentives for implementing water- and energy-efficient technologies (like drip irrigation) and policies (like rainwater harvesting).

    Such steps will not make India's security challenges disappear, but they will make the security situation less perilous. And they will move the country closer to the day when resource efficiency and equity join military modernisation and counterinsurgency as India's security watchwords.

    The writer is programme asso-ciate for South Asia at the Woodrow Wilson International Centre for Scholars in Washington, DC


    What They Said: Rooting for Binayak Sen (http://blogs.wsj.com/indiarealtime/2010/12/27/what-they-said-press-activists-root-for-binayak-sen/) By Krishna Pokharel | IndiaRealTime
    Indian government criticised for human rights activist's life sentence (http://www.guardian.co.uk/world/2010/dec/26/amnesty-criticises-sen-life-sentence) By Jason Burke | The Guardian





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  • unitednations
    03-25 12:41 PM
    Thanks for the link. Essentially there are 2 issues here

    1. Proving that Employee - Employer relationship exists between H1 beneficiary and employer. The ability to hire, pay, supervise and fire should be demonstrated.
    In cases where it is denying, USCIS is of opinion that the employer is in contract, manpower agency and their variants.

    This is somewhat analogous to similar test done by IRS to establish emploee-employer relationship in case of independent contractors.

    Not sure if it would make much difference, but if the petition letter demonstrates that the employer has control over the employee required matters, provide equipment (laptop etc) and that employer is primarily not in manpower business, it may fly.

    2. Second issue is about need to bachelors degree and that computer programming is speciality occupation. I think there are clear precedents on this with guidance memos from USCIS agreeing that computer analyst /programmer is indeed a speciality occupation and that bachelors degree is a minimum requirement.

    I am unable to attach actual doc on this message because of size limitations. But here is summary quoting from murthy.com

    "In a December 22, 2000 memorandum from INS Nebraska Service Center (NSC) Director Terry Way to NSC Adjudications Officers, NSC acknowledges the specialized and complex nature of most Computer Programming positions. The memo describes both Computer Programmers and Programmer Analysts as occupations in transition, meaning that the entry requirements have evolved as described in the above paragraph.


    Therefore, NSC will generally consider the position of Computer Programmer to be a specialty occupation. The memo draws a distinction between a position with actual programming duties (programming and analysis, customized design and/or modification of software, resolution of problems) and one that simply involves entering computer code for a non-computer related business.

    The requirements in the OOH have evolved from bachelor's degrees being generally required but 2-year degrees being acceptable; to the current situation with bachelor's degrees again being required, while those with 2-year degrees can qualify only for some lower level jobs."

    Onc; uscis determines that company is an agent then they ignore the part of the petition with the job duties. They pass on the burden of job duties, description, etc to the place where person is going to work. Essentially; they state that since h-1b company is not contolling thei work then they are not in position to state job duties or whether job requires a degree.





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  • dixie
    11-11 10:04 PM
    Lou can rant all he likes; the reality is his ideology and attempts to stir up the public came to nought at the polls. I think the general american public recognises Lou's propaganda for what it is - a populist ratings game. The fact that anti-CIR lawmakers/minutemen lost in even red states like arizona and Indiana is telling. Note that many moderate, pro-CIR republicans won in those very same states; it is mostly the lou-style conservatives who are licking their wounds.

    It may be true that immigration was not the primary reason for the republicans debacle,but the corollary is even more true : The american public didn't think immigration was big enough an issue to warrant re-electing those one-point agenda restrictionists.Contrary to what "our friends" were trying to portray.





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  • axp817
    03-26 06:30 PM
    here is the link.

    Becausing of uploading issue: follow this link.

    http://www.uscis.gov/uscis-ext-templating/uscis/jspoverride/errFrameset.jsp

    from there click on a-1 certification; decisions issued in 2004; click on second decision from the top. If someone can download the pdf and attach then we can discuss.

    The attachment upload fails for me as well but goddamn UN, you are unbelievable.

    1. Your knowledge of the specifics and technicalities and access to information is very impressive

    2. And you go out of your way to share it with others

    That being said, I skimmed through the document real quick and the part that caught my eye was the AAOs point on the applicant never having resided/lived in the same state as the employer, which you had also mentioned in one of your earlier posts.

    Wouldn't that be quite common in most consulting scenarios? What if the beneficiary/applicant has never lived in the same state as the petitioning employer but has lived in and worked for the employer (at client locations, offsite assignments) in nearby bordering states, from before the labor was filed and until long after the 485 was filed. Do you see the USCIS ever having issues with that?



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  • abracadabra102
    08-06 05:01 PM
    Interviewer: How come?

    Stroustrup: You are out of touch, aren't you? Remember the typedef?

    Interviewer: Yes, of course.

    Stroustrup: Remember how long it took to grope through the header files only to find that 'RoofRaised' was a double precision number? Well, imagine how long it takes to find all the implicit typedefs in all the Classes in a major project.

    Interviewer: So how do you reckon you've succeeded?

    Stroustrup: Remember the length of the average-sized 'C' project? About 6 months. Not nearly long enough for a guy with a wife and kids to earn enough to have a decent standard of living. Take the same project, design it in C++ and what do you get? I'll tell you. One to two years. Isn't that great? All that job security, just through one mistake of judgement. And another thing. The universities haven't been teaching 'C' for such a long time, there's now a shortage of decent 'C' programmers. Especially those who know anything about Unix systems programming. How many guys would know what to do with 'malloc', when they've used 'new' all these years - and never bothered to check the return code. In fact, most C++ programmers throw away their return codes. Whatever happened to good ol' '-1'? At least you knew you had an error, without bogging the thing down in all that 'throw' 'catch' 'try' stuff.

    Interviewer: But, surely, inheritance does save a lot of time?

    Stroustrup: Does it? Have you ever noticed the difference between a 'C' project plan, and a C++ project plan? The planning stage for a C++ project is three times as long. Precisely to make sure that everything which should be inherited is, and what shouldn't isn't. Then, they still get it wrong. Whoever heard of memory leaks in a 'C' program? Now finding them is a major industry. Most companies give up, and send the product out, knowing it leaks like a sieve, simply to avoid the expense of tracking them all down.

    Interviewer: There are tools...

    Stroustrup: Most of which were written in C++.

    Interviewer: If we publish this, you'll probably get lynched, you do realise that?

    Stroustrup: I doubt it. As I said, C++ is way past its peak now, and no company in its right mind would start a C++ project without a pilot trial. That should convince them that it's the road to disaster. If not, they deserve all they get. You know, I tried to convince Dennis Ritchie to rewrite Unix in C++.

    Interviewer: Oh my God. What did he say?

    Stroustrup: Well, luckily, he has a good sense of humor. I think both he and Brian figured out what I was doing, in the early days, but never let on. He said he'd help me write a C++ version of DOS, if I was interested.

    Interviewer: Were you?

    Stroustrup: Actually, I did write DOS in C++, I'll give you a demo when we're through. I have it running on a Sparc 20 in the computer room. Goes like a rocket on 4 CPU's, and only takes up 70 megs of disk.

    Interviewer: What's it like on a PC?

    Stroustrup: Now you're kidding. Haven't you ever seen Windows '95? I think of that as my biggest success. Nearly blew the game before I was ready, though.

    Interviewer: You know, that idea of a Unix++ has really got me thinking. Somewhere out there, there's a guy going to try it.

    Stroustrup: Not after they read this interview.

    Interviewer: I'm sorry, but I don't see us being able to publish any of this.

    Stroustrup: But it's the story of the century. I only want to be remembered by my fellow programmers, for what I've done for them. You know how much a C++ guy can get these days?

    Interviewer: Last I heard, a really top guy is worth $70 - $80 an hour.

    Stroustrup: See? And I bet he earns it. Keeping track of all the gotchas I put into C++ is no easy job. And, as I said before, every C++ programmer feels bound by some mystic promise to use every damn element of the language on every project. Actually, that really annoys me sometimes, even though it serves my original purpose. I almost like the language after all this time.

    Interviewer: You mean you didn't before?

    Stroustrup: Hated it. It even looks clumsy, don't you agree? But when the book royalties started to come in... well, you get the picture.

    Interviewer: Just a minute. What about references? You must admit, you improved on 'C' pointers.

    Stroustrup: Hmm. I've always wondered about that. Originally, I thought I had. Then, one day I was discussing this with a guy who'd written C++ from the beginning. He said he could never remember whether his variables were referenced or dereferenced, so he always used pointers. He said the little asterisk always reminded him.

    Interviewer: Well, at this point, I usually say 'thank you very much' but it hardly seems adequate.

    Stroustrup: Promise me you'll publish this. My conscience is getting the better of me these days.

    Interviewer: I'll let you know, but I think I know what my editor will say.

    Stroustrup: Who'd believe it anyway? Although, can you send me a copy of that tape?

    Interviewer: I can do that.





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  • pani_6
    07-14 06:37 PM
    We are old horses fo IV and dont have an agenda against any particular groups or category..all that we are trying to highlight is that our situation since 01..that's it...that having said the people will who are have been objecting to this will get thier GC's this time and will be gone ...and we in EB-3 2002 have to wait for another 2-3 years to get out turn..Can you imagine our situation..So please support this initiative...send out the letters...

    God bless us all!


    I am too tired to go against any law (I have my plan A to Z..and I guess most in EB3 have something similar) ..I don't think that there is a strict law as to how the spillover should happen (if someone knows ..please post it)..what I am saying is some fairness..call it pleading ..call it the last resort ..call it begging ..anything. will DOS agree ..maybe No. but maybe,,,maybe they will atleast give out a statement as to the future of EB3...and people in EB3 can make a decision and move on.
    as to the post above ...I am not saying do spillover in some ratio ..do something ...I am sure there are lot of workarounds or loopholes or whatever.
    what I am saying is ..if EB3-I does not act ..nothing will happen ..anyone can say that with certainity.
    maybe if core IV has meetings with DOS or USCIS .. maybe they can just ask as to what is the hope for EB3 ..I am sure most in EB3 (who are stuck in 2001, 02 ,03 ) will be happy just with some information



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  • xyzgc
    12-28 12:35 AM
    As much as terrorism is an evil thing, surgical strikes and stuff won't do crap. It will further alienate and give fodder to the mullahs to create more Kasab's. Really, do you think we can stop 20 yr old guys who are willing to kill themselves, think again? These guys are just washed out completely, there is no retribution, pain, all they see is a target and blow themselves out.

    Instead, we should concentrate on the war within that we face. Be it from communal/political/socio-economic violence or lack of regard for the common man's life. By no means I am saying inaction but war is certainly not the solution. Pakistan will meet its fate sooner than later if they continue the path they have chosen. We don't have to hasten it.

    200 Indians dying is painful but look at these figures to put things into perspective.

    Accidents in India:
    http://morth.nic.in/writereaddata/sublinkimages/table-6408184011.htm

    AIDS
    http://www.avert.org/indiaaids.htm

    Infant Mortality:
    http://www.indexmundi.com/India/infant_mortality_rate.html

    Rapes
    http://keralaonline.com/news/india-ranks-rape-cases_12144.html

    These are all staggering numbers and something none of us have to depend on a third country to seek the cure.

    I hope India continues to apply diplomatic pressure and show the world the parasite Pakistan it has become. As Zardari today acknowledged, they have a cancer within the country, its eating up. If they don't, its just a matter of time. To cure that, if they find mullahs as their doctors, time will be up pretty soon..

    Do you mean we should spend the $26 billion on defence budgets (yearly) just to make hollow noises and allow terrorists to run amok in our cities and attack our senate?How many years your folks in India have paid taxes to the central govt? Have you tracked the tax money that goes out of your family's pockets?

    Or are you saying that we should donate our arsenal to Pakistan and stop spending on defence, henceforth?

    Children are blinded to make beggars in Bombay, women get raped in Delhi, sex workers have AIDS all over the metros, so you are saying we should divert all our defence budgets towards humanitarian causes?
    Why don't you suggest this to Honorable Mr. Manmohan Singh and Honorable P Chidambaram and see if your Utopian proposal will be ever accepted?





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  • smuggymba
    07-28 02:57 PM
    what did that dumb O bama do with 60 senators and 260 congress democrats in the house-------GHANTA.......he is the most useless guy on earth....

    Indians always seem to think Democrats will help them but they are like our Indian politicians only, all promises no action

    Atleast republicans listen to Microsoft, Google etc and gives some visa etc...AllObama does is warn about Indians and Chinese growth



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  • mrajatish
    04-09 11:42 AM
    Pete, I am myself a manager at a leading company and do not fit into the typical "consultant" profile.

    That does not mean I want more shackles on myself because I feel someone is abusing the system. If someone (employers) are abusing the system, go after them - why do you want to go after the employee who, in a lot of cases, has nothing to do with the abuse?

    In fact, if this bill passed in its current form, it will probably not affect me but I will still oppose the bill - why, because it goes against my fundamental belief of freedom of movement. If the senators want to reform the system, may I ask

    1. Why prevent H1Bs from joining legitimate consulting companies such as Deloitte, IBM, BCG etc

    2. Why should H1B's pay Social security and medicare when they are "temporary" and do not get a dime back?

    Think of the bigger picture and then about your own objectives - I am sure you are a well educated person and you will understand the consequences of arbitrary decision making based on vested interests.





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  • pd_recapturing
    08-05 08:29 AM
    Friend, How many times, you need to know that even job requirements do get rigged by lawyers and employers to accommodate ppl in eb2/eb3 ...and its not jumping the line ...the person has to restart the labor and 140 in order to change the category ...u cant compare it with labor substitution (if u r comparing !!)



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  • bobzibub
    12-27 11:06 PM
    Please don't advocate war.

    A human death is a human death. Whether the fig leaf of state or some extremist views are used, it matters not to the mother who loses her kids. Bombs from planes are no better than bombs on belts. They just get better press.

    When you are attacked it is natural to want to respond to those attacks. That stems from your ancestors (as mine) who lived in some tribe struggling for life with scarce resources. But we know the results of this primitive thinking: look to the Americans.

    The Americans after 9/11 had such a blood lust that they attacked an unrelated country, killed a million civilians and will probably cost the US $3T all told. Iraq was bombed to the stone age and they are now a mess, no matter what their implausibly hopeful government claims. All because Americans and their institutions collectively lost their facility for critical thought. Their great thinkers "rationalized" themselves into a stupid, illegal war. And their militarist politicians and their corporate pals profited from terrorism every bit as much as Bin Laden. (For that they can rot in hell. But a cell in the Hague first.)

    If India attacks Pakistan, which many here seem to advocate, it will kill many more innocent civilians on both sides. War is a blunt instrument and will not have the intended consequences. Let no one pretend otherwise.

    If India can defeat the entire British Empire without firing a weapon, I can't believe that there isn't an ingenuitive solution to this mess. I can't believe that Indians and Pakistanis can't be the ones to solve it without weapons, especially nuclear ones.

    Nuclear weapons technology is old. Soon every country (and undergraduate engineering student) will posses the knowledge to build them. Yet if we continue to handle disputes in the same way that was bred into us when our people hunted on some African plane, it will be the end of all of us.





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  • gcbikari
    08-11 04:58 PM
    Where is lesson 2?


    Lesson 2:

    A priest offered a Nun a lift. She got in and crossed her legs, forcing her gown to reveal a leg. The priest nearly had an accident. After controlling the car, he stealthily slid his hand up her leg.
    The nun said, "Father, remember Psalm 129?"
    The priest removed his hand. But, changing gears, he let his hand slide up her leg again.
    The nun once again said, "Father, remember Psalm 129?"
    The priest apologized "Sorry sister but the flesh is weak."
    Arriving at the convent, the nun sighed heavily and went on her way.
    On his arrival at the church, the priest rushed to look up Psalm 129 It said, "Go forth and seek, further up, you will find glory."

    Moral of the story
    If you are not well informed in your job, you might miss a great opportunity.



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  • jthomas
    09-30 01:04 AM
    I am working in US from 2002 in H1B visa. Looking at the scenarios, it does not seem that we would be getting our green card soon. It would be wise if we start looking for some altenate. I have a Canadian Permanent residency and i am thinking sometimes soon i will move to canada. I have learned a lot working in United states and had changed 3 employers during 7 year period. I am seriously thinking about two options, One is to start a business in India with the technology i am woking in and secondly to move to canada and market those products over the globe. I am thinking about patenting some existing design for some application which people have not implemented. Once i file a patent, with broad open areas, i am sure to rule over the technology for next 20 years.
    I think we have spend the cream of our lives in this land and followed the rules of the land. If we are not required in this land lets move to some other country where we are welcomed. After the elections, Whether its Obama or Mcain nobody would care for us till the economy comes out of recession. Even with HR5882 we don't know how soon USCIS would process our green card. At present they are not able to process the alloacted number of green cards.
    Whether its Obama or Mcain does not mean anything. It seems to me like Obama would win the elections and Sen Dublin would give us a hard time.





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  • manub
    07-07 09:59 PM
    Yes I called all senators from the state and also local representative.Only local representative responded and their office contacted uscis for my EAD.We didnot contact any body for my husband`s petition .we are planning to do so this week.It is at NSC.



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  • GCapplicant
    07-13 09:53 AM
    The EB3 situation is really bad...I have the calling part too...and its stressful to see EB3I not having any good hopes though.

    I am in signing this letter.

    its worth a try.Atleast they will come know there is Eb3 stuck for many years beacause of the backlog.the old applications have not been considered at all.

    I request even EB2 to support this cause and help.





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  • GCBatman
    01-06 04:53 PM
    Hey guys,
    If all the topics can be posted here and anyone can start any unrelated thread (No Offense to "Refugee_New" because there are others also who did the same in past and it looks like all the moderators are sleeping.)
    So I am thinking of posting unrelated issue.
    Here is the question?
    I have to buy the tires for my car (15")
    Which tires are best Michelin or Goodyear
    Please no reds and sincere answers only.
    Thanks,



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  • Marphad
    03-26 04:44 PM
    Legal base employment candidates never had any representation as far as I know of until Immigration voice was formed. The other groups had some organized activity.

    From some of the postings I have seen from IV Core; I believe they know what they are doing. They seem to be getting right advice of when to go on offensive and when to be defensive.

    It is difficult for candidates/people who only have five to six years of history in this country to know how the system works here; ie., what arguments work and what arguments don't and what other side will do in ruining your credibility if they are pushed.

    Everyone wants their greencard and they try to find reasons which they think others will appreciate (whether they have much merit or not).

    Completely agreed.





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  • perm2gc
    08-11 04:31 PM
    Born in Texas and raised in IDAHO speaks volumes about his stand towards immigration issues.

    perm2gc,

    I am curious why you bold everything. on usenet, writing in caps and bold is conisdered shouting and rude. I know this is not usenet but somehow I see that in most of your posts and wanted to know why you do that.
    i love bold words..nothing much





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  • jthomas
    06-05 08:58 PM
    Do not take that snipet out of context.. Innovation, research and development, that you have talked about was in the past. Do you know that Boeing has a R & D Lab in bangalore? So does many globals.. They are already doing modelling and simulation at those centers :). When they made it difficult for innovators to get here.. jobs left US to go to innovators.. .Same will happen with Technology soon :)

    By the way, all those your points are valid but will have a negligable impact on Housing market or economy in short term.. atleast until next cycle.. Unless US reform immigration policies for a 21st century knowledge revolution.. create well paid jobs for best and brightest in the world right here.. who can earn, spend and not borrow.. (EB category) ... Housing problem will also resolved... But US is lagging way behind. this is my opinion as Obama Administration has not thought so far beyond providing food coupons, housing rescue and medicare... Based on what is on the card, there will be lot of blue collar folks... nothing on innovation and technology and more Family based immigrants on welfare and low paid jobs... Do you still think, thing of past holds good now?

    Most of the jobs are going to china and elsewhere. I am a power supply design engineer and have interviewed with many firms. some of them say they have moved their research to Taiwan because there is no difference in innovation between US and Taiwan. They have sales and service facility in Irvine, southern california. Another company i talked to was *ell computers. They are subcontracting the design + production to china and other places. The cost of a computer power supply is around 6 dollars and its no way US can produce it at $6. They have a small portion of design over here and it will still stay in US but it hires very less PHd guys. I am sure china/india will have more PHd guys in future than in US. There are several more who buy from china and after testing the product use their name sticker.
    there will be more high school graduates, average educated person than high skilled engineers. There are a lot of companies who would like to hire engineers (US citizen)at a very good pay but they are not able to do so. My last employer was looking for a good engineer from last 4 years and my prior employer have waited for 8 years to find a good engineer.
    Good technical guys are at a very small percentage.

    housing price has to go down. I don't know what else is going to happen.

    J thomas





    mariner5555
    03-27 07:26 AM
    Unfortunately, there are no simple answers. Mortgage rates are tied to 10 year bond rate, so they generally are not affected much by short term fed rate. With credit crunch, bond market is in real bad shape.
    Fed is trying to supply short term funds to ease this crunch. I don't know how low Fed will go for this. What I am seeing is mortgage rates being stable or going down a little in near term bcoz of Fed easing. For long term, I believe rates will go up as bonds have to become attractive to get new investors.This may not be the best ( absolute bottom) but definitely very good time to refinance if it makes sense for your conditions.
    For first time buyers like me, there are a lot of parameters to be considered. In my opinion the parameters are tilted towards faster house price drop . Hence I am waiting at least for a year. I will not do anything till next spring.
    > Hence I am waiting at least for a year. I will not do anything till next spring.
    Perfect ....exactly the same timeline for me too. I guess by that time GC picture and economy picture will be more clear too !!
    This is from CEO of Lennar builders
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    "Lower consumer confidence has quieted demand among prospective homebuyers and deterred them from a buying decision, while contraction in the lending markets has reduced the availability of credit for those prospective homebuyers that do wish to buy a home," CEO Stuart Miller said in a statement.

    Miller added that the glut of homes on the market continues to rise due to foreclosures and homeowners who have been forced to dump homes they can no longer afford.

    "The housing industry continues to be impacted by an unfavorable supply and demand relationship, which restricts the volume of new home sales and, concurrently, depresses home prices in most markets across the country," he said.
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    pitha
    04-08 05:43 PM
    Bill Preskal (I am not sure about the spelling of his name) is going to introduce a semilar bill in the house within the next few weeks. Seems like there is a well oiled machine which is stream rolling this.



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