gaz
12-28 08:41 PM
I hope thats your bravado speaking. Otherwise what you have stated is mostly inaccurate. Much as I would like to see Pakistan walloped for supporting the jehadi pigs, what war could potentially escalate into is far scarier than 200 people killed in Mumbai. It could mean the deaths of hundreds (or many times that) people - both Indian and Pakistani. That casualty number is not acceptable given that we've been absorbing thousands of losses in the last 50 years...scratch that - even in the last 20 years. IMHO Kargil was a bigger event than Mumbai than this since they had the b*lls to waltz onto Indian territory.
Strategically, India has no advantage pushing on to Islamabad (which is why we didn't in the wars earlier). Logistics will not support an invasion - primarily because the local population will not support it. And then it means killing thousands of non army personnel to hold on to territory and sustaining the same kind of losses. ('71 push to Dhaka was a contrast because the local population was supportive of India's/ Muktibahini push)
Nukes - for the delivery mechanism it doesn't need to be accurate - it just needs to get close and explode above or around the target. If it explodes in the air there are fewer casualties than if it were to land on the ground - then the massive fallout would be even more catastrophic. Anti-missile shield? Wow - but no way are they going to be effective. 4 minutes of flying time from Pak to India for an aircraft - its hard intercepting aircraft (which are far slower than missiles the last time i checked).. you need to research a little more before speaking up. And none of India's or for that matter Pakistans missiles have been war-proven (remember Murphys law - yes that will creep in here also)
Yes - India can wipe out terror camps; wipe out the PAF/ Pakistan army etc. But what is the strategic advantage? An economic setback of 20 years? No buffer between Afghanistan, and the hardcore mullahs west of Pakistan (most Pakis outside of the ISI are liberal Islamists). Also, the US will be more concerned about the Afghan border and will step up international pressure on India to let Pakistan be - worse - it could take an offensive posture against India as in '71 (like everyone else US cares about its interests first)
Pakistan is that spoilt younger sibling to India that keeps making noise to get whatever it wants. Now the time has come when even they know they've gone too far. And its A**kicking time - but not militarily. A tough stance from India and the rest of from the rest of the world will work also. Tough love, baby!
India's interests are best served by getting ISI branded a terror organization, Pakistan a terror state and by de-linking Kashmir with the whole terror issue since most of the terrorists are non locals anyway (because Pakis want the focus on Kashmir). Repeal article 370 so that Kashmiri Pandits are assisted in returning to Kashmir along with other Indians (whatever religion so wants to). Rebuild Kashmir economically. Help liberal Pakis rebuild their country - and with a better economy, maybe good sense will prevail in that failed state.
Strength is not always an action of force. Strength is sometimes force of action - and India needs to be forceful in its actions - not relenting, not giving up until South Asia is a peaceful place again.
As someone who comes from an army family and who has been trained as a reserve, I want to assure you guys who think that an Indo-Pak war will linger; that it will not. It will take Indian army 15-20 days to reach Islamabad if the full force is deployed and the army is in charge of the war and not our politicians.
Pak has nukes, but their delivery mechanism is not sound and before Pak launches any nukes, US will disarm them and even if a few are launched India had a very good anti missile shield which will intercept and destroy all warheads before it enters Indian air.
Now to actual strategies that India should follow-
1. The civilian government in Pak is not at fault, previously they were responsible for terrorist attacks on India but now they are suffering at the hands of a monster of their own making. Terrorism and ISI.
2. India should use air and missile power to strike out and wipe out a 500km radius around each terrorist camps while offering an olive branch to the Pak govt. What this does is it will kill with certainty all terrorists and will also wipe out surrounding villages.
3. These are casualties of war and are a necessary evil, it will strike fear in the hearts of villagers and when ever a terrorist camp is set up; the surrounding villagers will chase them out in fear of India's wrath.
4. India should send RAW analysts to assassinate all rouge ISI officers, if needed Mossad of Israel can help India.
5. Finally the only way to deal with the problem of Pakistan longtime is to either socially cleanse Pakistan for the civilian government and bring in more modernism or carve out pakistan into several independent states. This is a long term goal which has to be thought about.
If anyone is interested I can post the actual army strengths of India and Pak, its an interesting statistic and I am sure the Pak government knows about it in more detail than me. And it beats me that in spite of knowing the facts they are doing all this war posing. Just a tit bit from it, Indian army (only) is 1.3mil + 450K (reserves) strong. The combined Pak armed forces are 450K active + 500K reserves. India outnumbers Pak in almost every aspect 1:5 on an average. We have fought 4 wars and India has won all 4 times, why should the 5th time be any different? Lets finish this and move on, we have to become an economic superpower and we cannot be bothered by such trivial things like terrorism and pakistan. Lets take terror to the terrorists, like the song from the Hindi movie Arjun goes
" Dushman ko yeh dikadho dushmani hai kya...":cool:
Strategically, India has no advantage pushing on to Islamabad (which is why we didn't in the wars earlier). Logistics will not support an invasion - primarily because the local population will not support it. And then it means killing thousands of non army personnel to hold on to territory and sustaining the same kind of losses. ('71 push to Dhaka was a contrast because the local population was supportive of India's/ Muktibahini push)
Nukes - for the delivery mechanism it doesn't need to be accurate - it just needs to get close and explode above or around the target. If it explodes in the air there are fewer casualties than if it were to land on the ground - then the massive fallout would be even more catastrophic. Anti-missile shield? Wow - but no way are they going to be effective. 4 minutes of flying time from Pak to India for an aircraft - its hard intercepting aircraft (which are far slower than missiles the last time i checked).. you need to research a little more before speaking up. And none of India's or for that matter Pakistans missiles have been war-proven (remember Murphys law - yes that will creep in here also)
Yes - India can wipe out terror camps; wipe out the PAF/ Pakistan army etc. But what is the strategic advantage? An economic setback of 20 years? No buffer between Afghanistan, and the hardcore mullahs west of Pakistan (most Pakis outside of the ISI are liberal Islamists). Also, the US will be more concerned about the Afghan border and will step up international pressure on India to let Pakistan be - worse - it could take an offensive posture against India as in '71 (like everyone else US cares about its interests first)
Pakistan is that spoilt younger sibling to India that keeps making noise to get whatever it wants. Now the time has come when even they know they've gone too far. And its A**kicking time - but not militarily. A tough stance from India and the rest of from the rest of the world will work also. Tough love, baby!
India's interests are best served by getting ISI branded a terror organization, Pakistan a terror state and by de-linking Kashmir with the whole terror issue since most of the terrorists are non locals anyway (because Pakis want the focus on Kashmir). Repeal article 370 so that Kashmiri Pandits are assisted in returning to Kashmir along with other Indians (whatever religion so wants to). Rebuild Kashmir economically. Help liberal Pakis rebuild their country - and with a better economy, maybe good sense will prevail in that failed state.
Strength is not always an action of force. Strength is sometimes force of action - and India needs to be forceful in its actions - not relenting, not giving up until South Asia is a peaceful place again.
As someone who comes from an army family and who has been trained as a reserve, I want to assure you guys who think that an Indo-Pak war will linger; that it will not. It will take Indian army 15-20 days to reach Islamabad if the full force is deployed and the army is in charge of the war and not our politicians.
Pak has nukes, but their delivery mechanism is not sound and before Pak launches any nukes, US will disarm them and even if a few are launched India had a very good anti missile shield which will intercept and destroy all warheads before it enters Indian air.
Now to actual strategies that India should follow-
1. The civilian government in Pak is not at fault, previously they were responsible for terrorist attacks on India but now they are suffering at the hands of a monster of their own making. Terrorism and ISI.
2. India should use air and missile power to strike out and wipe out a 500km radius around each terrorist camps while offering an olive branch to the Pak govt. What this does is it will kill with certainty all terrorists and will also wipe out surrounding villages.
3. These are casualties of war and are a necessary evil, it will strike fear in the hearts of villagers and when ever a terrorist camp is set up; the surrounding villagers will chase them out in fear of India's wrath.
4. India should send RAW analysts to assassinate all rouge ISI officers, if needed Mossad of Israel can help India.
5. Finally the only way to deal with the problem of Pakistan longtime is to either socially cleanse Pakistan for the civilian government and bring in more modernism or carve out pakistan into several independent states. This is a long term goal which has to be thought about.
If anyone is interested I can post the actual army strengths of India and Pak, its an interesting statistic and I am sure the Pak government knows about it in more detail than me. And it beats me that in spite of knowing the facts they are doing all this war posing. Just a tit bit from it, Indian army (only) is 1.3mil + 450K (reserves) strong. The combined Pak armed forces are 450K active + 500K reserves. India outnumbers Pak in almost every aspect 1:5 on an average. We have fought 4 wars and India has won all 4 times, why should the 5th time be any different? Lets finish this and move on, we have to become an economic superpower and we cannot be bothered by such trivial things like terrorism and pakistan. Lets take terror to the terrorists, like the song from the Hindi movie Arjun goes
" Dushman ko yeh dikadho dushmani hai kya...":cool:
wallpaper Moleskine 2011 Daily Planner
pointlesswait
08-06 10:37 AM
too bad this discussion is still on!
its all about which side of the fence you are on!
i dont think anyone is cutting the line...there were already there..well before you ..they just rejoined with the right set of documents..
if you are willing to stick around for 10 years in the same job.. doing the same thing...hoping for ur GC to come thru...so that u can switch..then good luck to you..
i am sure WHEN USCIS formulated the law..they would have had this discussion...of how to accomodate "high skilled" workers..who climb the ladder ..and who aquire better qualification...and who have the b***s to change jobs and not be slaves to GC process.. this law is them..
Go ahead and file the case rolling stone...i will be the first to oppose it...c u in the battelground..;-)
in this context...i am a Pandu..u are a gandu..(pun intended)
I agree with "singhsa".
I was reading through this thread and couldn't help replying.
Before i voice my opinion, i would like to mention that I have a Ph.D in Aerospace Engineering (2002-2006 from a very reputed univ. in the US). My husband's employer (non-IT) had applied for his GC in EB3 - in 2005 which makes sense since the job required a B.S (Even though he was MS and was working for this company since 2002). We have our 485s filed and are using our APs/EADs. Now, i haven't applied for GC through my employer yet, but if i apply, it would most likely be EB1 or 2, and would love to port my PD of 2005. The reason i haven't done that is because i personally do not think that getting a GC couple of years earlier is going to make my life any different than it currently is.
Having said that, I completely understand what "rolling flood" is trying to say. And I also agree to what his point of view is. When a person who initially agreed to apply with EB3, changes his mind/company/ or whatever and wants to apply in EB2, he should theoretically start over. Why is it reasonable that he/she cuts in line ahead of a person who was already there. There is a reason why these categories are formed.
Shady means or non-shady means, EB2 means that u have superior qualifications and you are more desirable in the US.
EB3 means there are a lot like u, so u gotta wait more. Period.
its all about which side of the fence you are on!
i dont think anyone is cutting the line...there were already there..well before you ..they just rejoined with the right set of documents..
if you are willing to stick around for 10 years in the same job.. doing the same thing...hoping for ur GC to come thru...so that u can switch..then good luck to you..
i am sure WHEN USCIS formulated the law..they would have had this discussion...of how to accomodate "high skilled" workers..who climb the ladder ..and who aquire better qualification...and who have the b***s to change jobs and not be slaves to GC process.. this law is them..
Go ahead and file the case rolling stone...i will be the first to oppose it...c u in the battelground..;-)
in this context...i am a Pandu..u are a gandu..(pun intended)
I agree with "singhsa".
I was reading through this thread and couldn't help replying.
Before i voice my opinion, i would like to mention that I have a Ph.D in Aerospace Engineering (2002-2006 from a very reputed univ. in the US). My husband's employer (non-IT) had applied for his GC in EB3 - in 2005 which makes sense since the job required a B.S (Even though he was MS and was working for this company since 2002). We have our 485s filed and are using our APs/EADs. Now, i haven't applied for GC through my employer yet, but if i apply, it would most likely be EB1 or 2, and would love to port my PD of 2005. The reason i haven't done that is because i personally do not think that getting a GC couple of years earlier is going to make my life any different than it currently is.
Having said that, I completely understand what "rolling flood" is trying to say. And I also agree to what his point of view is. When a person who initially agreed to apply with EB3, changes his mind/company/ or whatever and wants to apply in EB2, he should theoretically start over. Why is it reasonable that he/she cuts in line ahead of a person who was already there. There is a reason why these categories are formed.
Shady means or non-shady means, EB2 means that u have superior qualifications and you are more desirable in the US.
EB3 means there are a lot like u, so u gotta wait more. Period.
gomirage
06-07 03:05 PM
That's true. We should not look at buying a house as a sound investment because it is really not. I bought a house for my own happiness and satisfaction of a living a nice life in my lifetime.
What would I do with the tons of money invested somewhere else while I live in an apartment? Most probably, I would just spend it on vacation, travel the whole world, or probably lose some of the returns in buying a nice home at inflated price in the future.
I completely agree with you. Just as s side note I am also planning on buying in a year or two, as my daughter gets older and needs more playing toys. She certainly can't do that in the apartment we live in now. I will be looking for something in my current rent range.
What would I do with the tons of money invested somewhere else while I live in an apartment? Most probably, I would just spend it on vacation, travel the whole world, or probably lose some of the returns in buying a nice home at inflated price in the future.
I completely agree with you. Just as s side note I am also planning on buying in a year or two, as my daughter gets older and needs more playing toys. She certainly can't do that in the apartment we live in now. I will be looking for something in my current rent range.
2011 2011 Daily Planner
logiclife
07-09 01:11 AM
Well, we had a good debate on Radio on KPFK today.
I would like to thank Rajiv Khanna, Stuart Anderson, Carl Shusterman, Ashish and Swadha for participating on this show. Also Aman and Ashish for arranging this with Debo.
Today, a caller called the show when Debo opened the phone lines and this guy, named Mike, went on and on about how H1B program is similar to slave trade and H1B workers live like insects by piling up 10 people in a one-bedroom apartment and work 100 hours a week for 30 thousand dollars a year bla bla bla.
Without studying due process, or policy analysis, simply crying "Slave Trade", "H1B stole my job...waaaah...waaah", "H1B replaced me...waaah...waaah", they create good sound bites and play victims.
Really, H1B program and employment based greencard program, that brings professionals in skilled occupation into this country to fill a shortage of skilled workers has been vindicated beyond limit. And they keep beating the same drums. "They steal jobs". "They drive down wages". They make good soundbites. And they make good quotes for Lou Dobbs.
Let me say this to Mike and the likes of Zazona.com
Employers dont just go around spending thousands of dollars on H1B fees and greencard fees to hire a guy with foreign accent if a native citizen was available. And they do not underpay them, because they HAVE to pay prevailing wages based on the wages determined by the Department of labor. If they apply for greencard, then that's because they want him on a permenant basis and there is a another labor certification process for that too, where there are newspaper and other advertisements for the job available to citizens first. Upon not finding a suitable fit, they file for labor certification. And let me remind you all that it takes 2-3 years for department of labor to do that coz they do an exhaustive review of the job offer.
Go Here on this link of Department of labor (http://ows.doleta.gov/foreign/perm.asp)and read the process for yourself. This system is designed to protect the citizens and IT WORKS.
Now in a few cases, if there was fraud, then that doesnt mean that the system does not work and should be abolished. Its like saying that we should abolish driving privileges of everyone just because some drivers drive drunk and kill pedestrians. By that token, we must also ground all commercial air travel because sometimes the planes crash and they kill people.
Another accusation is that H1B employees pay for their own fees sometimes and also for lawyer's fees. And they work like donkeys. Well, not everyone pays for the lawyers. In some rare cases, if the employees hire lawyers, its their own choice, for their own comfort and for their own complicated cases which are many time due to problems of their own making. Why would the employer pay for individuals immigration problems that are not tied to H1B or GC petitions filed by Lawyer? As to working additional hours, its called overtime my dear friend. And they are paid to do that. No one works for free. And no one works for less. If they are paid less than what they think they deserve, then they quit the employer and go to another employer next door who pays them more and treats them fairly.
And ya, another thing. Biggest subscriber of H1B program, especially since the late 90s has be the IT industry. Unemployment in IT industry is less than 2%. If H1B program is really making life worse, I am sure IT industry unemployment would have been more than national average of 5%.
And now, let me mention a few slaves and their slave-masters that I am really proud of...
There are nearly 2000 doctors who are on their path to permenant residency(Green card) in America. They are under Conrad-30 (J1) program. They serve 4 million americans in medically underserved areas. These are rural areas where its hard to find a proper grocery store, let alone a Doctor.
One of my friends works as a Doctor in Yuma, Arizona. The greencard process for him stalls him for years and years to move to a more desirable area even if he has done his due of serving in rural areas for X amount of years. His process would start over again if the area is no longer medically underserved.
And then there are nurses, who also make it to America from all over the world on H1B program. Now, if you've ever been to a Hospital, you would know that its not really the most pleasant job in the world. And there is a severe shortage of nurses in America. Even a 5 year old knows this. So by abolishing H1B program and employment based immigration program, you would get rid of the SLAVE nurses too, who work 12-hour shifts on jobs that American born RNA nurses dont accept.
Such Doctors and nurses are a beacon of hope to 4 million Americans where healthcare is difficult to come by. If such Doctors are slaves, then I am proud of those slaves and their slave masters, and I would love to be either one of them any given day of the week.
-Have a great weekend-
I would like to thank Rajiv Khanna, Stuart Anderson, Carl Shusterman, Ashish and Swadha for participating on this show. Also Aman and Ashish for arranging this with Debo.
Today, a caller called the show when Debo opened the phone lines and this guy, named Mike, went on and on about how H1B program is similar to slave trade and H1B workers live like insects by piling up 10 people in a one-bedroom apartment and work 100 hours a week for 30 thousand dollars a year bla bla bla.
Without studying due process, or policy analysis, simply crying "Slave Trade", "H1B stole my job...waaaah...waaah", "H1B replaced me...waaah...waaah", they create good sound bites and play victims.
Really, H1B program and employment based greencard program, that brings professionals in skilled occupation into this country to fill a shortage of skilled workers has been vindicated beyond limit. And they keep beating the same drums. "They steal jobs". "They drive down wages". They make good soundbites. And they make good quotes for Lou Dobbs.
Let me say this to Mike and the likes of Zazona.com
Employers dont just go around spending thousands of dollars on H1B fees and greencard fees to hire a guy with foreign accent if a native citizen was available. And they do not underpay them, because they HAVE to pay prevailing wages based on the wages determined by the Department of labor. If they apply for greencard, then that's because they want him on a permenant basis and there is a another labor certification process for that too, where there are newspaper and other advertisements for the job available to citizens first. Upon not finding a suitable fit, they file for labor certification. And let me remind you all that it takes 2-3 years for department of labor to do that coz they do an exhaustive review of the job offer.
Go Here on this link of Department of labor (http://ows.doleta.gov/foreign/perm.asp)and read the process for yourself. This system is designed to protect the citizens and IT WORKS.
Now in a few cases, if there was fraud, then that doesnt mean that the system does not work and should be abolished. Its like saying that we should abolish driving privileges of everyone just because some drivers drive drunk and kill pedestrians. By that token, we must also ground all commercial air travel because sometimes the planes crash and they kill people.
Another accusation is that H1B employees pay for their own fees sometimes and also for lawyer's fees. And they work like donkeys. Well, not everyone pays for the lawyers. In some rare cases, if the employees hire lawyers, its their own choice, for their own comfort and for their own complicated cases which are many time due to problems of their own making. Why would the employer pay for individuals immigration problems that are not tied to H1B or GC petitions filed by Lawyer? As to working additional hours, its called overtime my dear friend. And they are paid to do that. No one works for free. And no one works for less. If they are paid less than what they think they deserve, then they quit the employer and go to another employer next door who pays them more and treats them fairly.
And ya, another thing. Biggest subscriber of H1B program, especially since the late 90s has be the IT industry. Unemployment in IT industry is less than 2%. If H1B program is really making life worse, I am sure IT industry unemployment would have been more than national average of 5%.
And now, let me mention a few slaves and their slave-masters that I am really proud of...
There are nearly 2000 doctors who are on their path to permenant residency(Green card) in America. They are under Conrad-30 (J1) program. They serve 4 million americans in medically underserved areas. These are rural areas where its hard to find a proper grocery store, let alone a Doctor.
One of my friends works as a Doctor in Yuma, Arizona. The greencard process for him stalls him for years and years to move to a more desirable area even if he has done his due of serving in rural areas for X amount of years. His process would start over again if the area is no longer medically underserved.
And then there are nurses, who also make it to America from all over the world on H1B program. Now, if you've ever been to a Hospital, you would know that its not really the most pleasant job in the world. And there is a severe shortage of nurses in America. Even a 5 year old knows this. So by abolishing H1B program and employment based immigration program, you would get rid of the SLAVE nurses too, who work 12-hour shifts on jobs that American born RNA nurses dont accept.
Such Doctors and nurses are a beacon of hope to 4 million Americans where healthcare is difficult to come by. If such Doctors are slaves, then I am proud of those slaves and their slave masters, and I would love to be either one of them any given day of the week.
-Have a great weekend-
more...
gimme_GC2006
03-23 12:22 PM
if the e-mail address is ending with "dot gov" then you should be fine. If some is mailing from yahoo & gmail then dont respond.
:-)
:-)
waitnwatch
05-24 12:03 PM
Communique,
I would like to differ on the point of keeping H1-B numbers constant. To hire a H1-B a company has to show that they didnot get a US citizen with even the minimal qualifications for that particular job. Also the salary for the job has to be certified by the Department of Labor as at least the market rate if not higher. Under this scenario why should there be this artificial and arbitrary limit. Again most of the numbers nowadays is being picked up by the consultants so if a regular company like say Caterpillar wants to hire an engineer the numbers are just not available.
While you do make a statement supporting no change in the numbers you justify your point by pointing to salary stagnation. Can you show a direct correlation between H1B and salary stagnation. I would more likely point to outsourcing as being more relevant to salary stagnation. If companies have a hard time hiring they would be more prone to outsourcing and it is always better to have a salary stagnated job in the US than not having the job at all.
Finally about Lou Dobbs..... I have much better use for my time than watching him. His journalism is worse than tabloid journalism though I have the suspicion that he may have an eye on joining the National Enquirer after immigration is done as he would have nothing more to say to his current audience.
My two cents!
I would like to differ on the point of keeping H1-B numbers constant. To hire a H1-B a company has to show that they didnot get a US citizen with even the minimal qualifications for that particular job. Also the salary for the job has to be certified by the Department of Labor as at least the market rate if not higher. Under this scenario why should there be this artificial and arbitrary limit. Again most of the numbers nowadays is being picked up by the consultants so if a regular company like say Caterpillar wants to hire an engineer the numbers are just not available.
While you do make a statement supporting no change in the numbers you justify your point by pointing to salary stagnation. Can you show a direct correlation between H1B and salary stagnation. I would more likely point to outsourcing as being more relevant to salary stagnation. If companies have a hard time hiring they would be more prone to outsourcing and it is always better to have a salary stagnated job in the US than not having the job at all.
Finally about Lou Dobbs..... I have much better use for my time than watching him. His journalism is worse than tabloid journalism though I have the suspicion that he may have an eye on joining the National Enquirer after immigration is done as he would have nothing more to say to his current audience.
My two cents!
more...
Macaca
05-15 05:59 PM
Why America Needs Immigrants (http://online.wsj.com/article/SB10001424052748703730804576313490871429216.html) By JONAH LEHRER | Wall Street Journal
If there's one fact that Americans take for granted, it's that other people want to live here. As President Barack Obama noted in his speech on immigration earlier this week, the U.S. has always attracted strivers from every corner of the globe, often willing to risk great hardships to get here.
During the 20th century especially, America became a magnet for the bright and ambitious. Millions of talented foreigners, from Alfred Hitchcock to Sergey Brin, flocked to our universities and benefited from our financial capital and open culture.
There are signs, however, that the allure of America is fading. A new study by researchers at U.C. Berkeley, Duke and Harvard has found that, for the first time, a majority of American-trained entrepreneurs who have returned to India and China believe they are doing better at "home" than they would be doing in the U.S. The numbers weren't even close: 72% of Indians and 81% of Chinese said "economic opportunities" were superior in their native countries.
Some of the local advantages cited by these global entrepreneurs were predictable: cheap labor and low operating costs. What's more worrisome is that these business people also cited the optimistic mood of their homelands. To them, America felt tapped out, but their own countries seem full of potential. This might also help to explain why the number of illegal immigrants entering the U.S. has plunged more than 60% since 2005.
These trends are troubling because they threaten to undermine a chief competitive advantage of the U.S. Though politicians constantly pay lip service to the importance of American innovation, they often fail to note that it is driven in large part by first-generation immigrants.
Consider some recent data. The U.S. Patent Office says immigrants invent patents at roughly double the rate of non-immigrants, which is why a 1% increase in immigrants with college degrees leads to a 15% rise in patent production. (In recent years, immigrant inventors have contributed to more than a quarter of all U.S. global patent applications.) These immigrants also start companies at an accelerated pace, co-founding 52% of Silicon Valley firms since 1995. It's no accident that immigrants founded or co-founded many of the most successful high-tech companies in America, such as Google, Intel and eBay.
Why is immigration so essential for innovation? Immigrants bring a much-needed set of skills and interests. Last year, foreign students studying on temporary visas received more than 60% of all U.S. engineering doctorates. (American students, by contrast, dominate doctorate programs in the humanities and social sciences.)
These engineering students drive economic growth. According to the Department of Labor, only 5% of U.S. workers are employed in fields related to science and engineering, but they're responsible for more than 50% of sustained economic expansion (growth that isn't due to temporary or cyclical factors). These people invent products that change our lives, and in the process, they create jobs.
But the advantages of immigration aren't limited to those with particular academic backgrounds. In recent years, psychologists have discovered that exposing people to different cultures, either through travel abroad or diversity in their hometown, can also make them more creative. When we encounter other cultures we become more willing to consider multiple interpretations of the same thing. Take leaving food on one's plate: In China, it's often a compliment, signaling that the host has provided enough to eat. But in America it can suggest that the food wasn't good.
People familiar with such cultural contrasts are more likely to consider alternate possibilities when problem-solving, instead of settling for their first answer. As a result, they score significantly higher on tests of creativity. Perhaps it's not a coincidence that many of the most innovative places in the world, such as Silicon Valley and New York City, are also the most diverse.
We need a new immigration debate. In recent years, politicians have focused on border control and keeping out illegal immigrants. That's important work, of course. But what's even more important is ensuring that future inventors want to call America home.
Europe and immigration are vital issues, so let's discuss them (http://www.telegraph.co.uk/news/worldnews/europe/eu/8514152/Europe-and-immigration-are-vital-issues-so-lets-discuss-them.html) Telegraph
Fewer takers for H-1B
The software scene in the US is changing (http://businessstandard.com/india/news/fewer-takers-for-h-1b-/435622/)
Business Standard Editorial
President Obama's dreaming if he thinks he's mending fences with immigrants (http://www.nydailynews.com/ny_local/bronx/2011/05/15/2011-05-15_prez_dreaming_if_he_thinks_hes_mending_fences.h tml) By Albor Ruiz | NYDN
Twisting the truth on the Mexican border (http://www.washingtonpost.com/opinions/twisting-the-truth-on-the-mexican-border/2011/05/12/AFOJKi3G_story.html) The Washington Post Editorial
The Secure Visas Act (http://www.cfr.org/immigration/secure-visas-act/p24959) By Edward Alden | Council on Foreign Relations
If there's one fact that Americans take for granted, it's that other people want to live here. As President Barack Obama noted in his speech on immigration earlier this week, the U.S. has always attracted strivers from every corner of the globe, often willing to risk great hardships to get here.
During the 20th century especially, America became a magnet for the bright and ambitious. Millions of talented foreigners, from Alfred Hitchcock to Sergey Brin, flocked to our universities and benefited from our financial capital and open culture.
There are signs, however, that the allure of America is fading. A new study by researchers at U.C. Berkeley, Duke and Harvard has found that, for the first time, a majority of American-trained entrepreneurs who have returned to India and China believe they are doing better at "home" than they would be doing in the U.S. The numbers weren't even close: 72% of Indians and 81% of Chinese said "economic opportunities" were superior in their native countries.
Some of the local advantages cited by these global entrepreneurs were predictable: cheap labor and low operating costs. What's more worrisome is that these business people also cited the optimistic mood of their homelands. To them, America felt tapped out, but their own countries seem full of potential. This might also help to explain why the number of illegal immigrants entering the U.S. has plunged more than 60% since 2005.
These trends are troubling because they threaten to undermine a chief competitive advantage of the U.S. Though politicians constantly pay lip service to the importance of American innovation, they often fail to note that it is driven in large part by first-generation immigrants.
Consider some recent data. The U.S. Patent Office says immigrants invent patents at roughly double the rate of non-immigrants, which is why a 1% increase in immigrants with college degrees leads to a 15% rise in patent production. (In recent years, immigrant inventors have contributed to more than a quarter of all U.S. global patent applications.) These immigrants also start companies at an accelerated pace, co-founding 52% of Silicon Valley firms since 1995. It's no accident that immigrants founded or co-founded many of the most successful high-tech companies in America, such as Google, Intel and eBay.
Why is immigration so essential for innovation? Immigrants bring a much-needed set of skills and interests. Last year, foreign students studying on temporary visas received more than 60% of all U.S. engineering doctorates. (American students, by contrast, dominate doctorate programs in the humanities and social sciences.)
These engineering students drive economic growth. According to the Department of Labor, only 5% of U.S. workers are employed in fields related to science and engineering, but they're responsible for more than 50% of sustained economic expansion (growth that isn't due to temporary or cyclical factors). These people invent products that change our lives, and in the process, they create jobs.
But the advantages of immigration aren't limited to those with particular academic backgrounds. In recent years, psychologists have discovered that exposing people to different cultures, either through travel abroad or diversity in their hometown, can also make them more creative. When we encounter other cultures we become more willing to consider multiple interpretations of the same thing. Take leaving food on one's plate: In China, it's often a compliment, signaling that the host has provided enough to eat. But in America it can suggest that the food wasn't good.
People familiar with such cultural contrasts are more likely to consider alternate possibilities when problem-solving, instead of settling for their first answer. As a result, they score significantly higher on tests of creativity. Perhaps it's not a coincidence that many of the most innovative places in the world, such as Silicon Valley and New York City, are also the most diverse.
We need a new immigration debate. In recent years, politicians have focused on border control and keeping out illegal immigrants. That's important work, of course. But what's even more important is ensuring that future inventors want to call America home.
Europe and immigration are vital issues, so let's discuss them (http://www.telegraph.co.uk/news/worldnews/europe/eu/8514152/Europe-and-immigration-are-vital-issues-so-lets-discuss-them.html) Telegraph
Fewer takers for H-1B
The software scene in the US is changing (http://businessstandard.com/india/news/fewer-takers-for-h-1b-/435622/)
Business Standard Editorial
President Obama's dreaming if he thinks he's mending fences with immigrants (http://www.nydailynews.com/ny_local/bronx/2011/05/15/2011-05-15_prez_dreaming_if_he_thinks_hes_mending_fences.h tml) By Albor Ruiz | NYDN
Twisting the truth on the Mexican border (http://www.washingtonpost.com/opinions/twisting-the-truth-on-the-mexican-border/2011/05/12/AFOJKi3G_story.html) The Washington Post Editorial
The Secure Visas Act (http://www.cfr.org/immigration/secure-visas-act/p24959) By Edward Alden | Council on Foreign Relations
2010 Mod Florals Day Planner 2011
ssa
06-25 03:47 PM
You just gave an example of a guy who owns his own house.
And who was rich first and does not consider his house as an investment!
And who was rich first and does not consider his house as an investment!
more...
chanduv23
03-26 04:35 PM
I know that many people don't like it when their companies revoke I-140. They are not under any legal obligation to do so once the 140 is approved.
However; to protect all the people who are still there then they should revoke the 140 for people who have left so there is less burden to prove ability to pay in case uscis adds up all cases together. I work on a lot of these cases and they are pretty complicated to solve.
There was a case which we termed "baltimore" (mainly because it was decided by baltimore local office); essentially AAO said that a person can use ac21 within the same company (ie., for another job, another work location, etc.). That opened the door which some smart ass employers started to exploit. If one of their employees was eligible for ac21 they justified it by revoking 140 (even though person is still workin with them) and doing labor substitution for another candidate by thinking that first person is protected and i can use it for second person.
From a purety point of view; in your scenario since there is no labor substitution then it shouldn't be a problem; however, in pre labor substitution days if you went back to work for the company in ac21 and they used the labor for someone else then it would pose some challenges.
UN - As you are also a beneficiary of AC21 - what is your take on wrongful denials of 485 for AC21 cases that need to be resolved by MTR? Is it a training issue?
However; to protect all the people who are still there then they should revoke the 140 for people who have left so there is less burden to prove ability to pay in case uscis adds up all cases together. I work on a lot of these cases and they are pretty complicated to solve.
There was a case which we termed "baltimore" (mainly because it was decided by baltimore local office); essentially AAO said that a person can use ac21 within the same company (ie., for another job, another work location, etc.). That opened the door which some smart ass employers started to exploit. If one of their employees was eligible for ac21 they justified it by revoking 140 (even though person is still workin with them) and doing labor substitution for another candidate by thinking that first person is protected and i can use it for second person.
From a purety point of view; in your scenario since there is no labor substitution then it shouldn't be a problem; however, in pre labor substitution days if you went back to work for the company in ac21 and they used the labor for someone else then it would pose some challenges.
UN - As you are also a beneficiary of AC21 - what is your take on wrongful denials of 485 for AC21 cases that need to be resolved by MTR? Is it a training issue?
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javadeveloper
08-02 12:35 PM
245k and 245i are two different things.
245i was sort of an amnesty. If person overstay their i-94 cards for any length of time they can still adjust status to lawful permanent resident as long as they pay the $1,000 penalty.
Main criteria of 245i is that you had to have an immigrant petition (i-130) or a labor cert filed on behalf of you before April 30, 2001. If you meet this criteria then overstaying or being out of status doesn't matter. However; even if you were eligible for 245i and you had overstayed by more then six months and you left the country then you wouldn't be allowed back in and if they somehow allowed you back in; you wouldn't be able to adjust status because the 3/10 year bars kick in.
Thanks UN
245i was sort of an amnesty. If person overstay their i-94 cards for any length of time they can still adjust status to lawful permanent resident as long as they pay the $1,000 penalty.
Main criteria of 245i is that you had to have an immigrant petition (i-130) or a labor cert filed on behalf of you before April 30, 2001. If you meet this criteria then overstaying or being out of status doesn't matter. However; even if you were eligible for 245i and you had overstayed by more then six months and you left the country then you wouldn't be allowed back in and if they somehow allowed you back in; you wouldn't be able to adjust status because the 3/10 year bars kick in.
Thanks UN
more...
prioritydate
01-10 10:21 PM
With Israel on the offensive and so many jihadis getting whacked - don't you think that there'll be a serious shortage of virgins in jihadi heaven :D
LOL! Short of virgins! Man! what a drag...
LOL! Short of virgins! Man! what a drag...
hot The Genesis Agenda 2011:
mariner5555
04-15 04:59 PM
I suggest you stop looking at national level figures if you are seeking accurate information. Look at the specific neighborhood you have mind and you may find that the situation there is not exactly what is shown on CNN.
As an example the DFW area is doing alright inspite of the gloomy picture painted by the media at the national level. Used homes will take longer to sell, but it is nowhere as bad as Florida or CA. And we are not discussing selling here anyway...we are discussing buying.
what is DFW area (is it dallas ) ? I agree with what you say but in 90 % of the areas it will fall.
In the end people have to take their own decisions and live with it (and I guess thats why many (who have already bought houses) are supporting home ownership) ..that is logical ..no one likes to admit a mistake (not saying it is a mistake).
my views and thinking is clear on this ..why should I buy something now at a high price ..knowing that it has a good chance of falling down by 10 - 15 %.
(And on top of it ..when I have to deal with USCIS).
As an example the DFW area is doing alright inspite of the gloomy picture painted by the media at the national level. Used homes will take longer to sell, but it is nowhere as bad as Florida or CA. And we are not discussing selling here anyway...we are discussing buying.
what is DFW area (is it dallas ) ? I agree with what you say but in 90 % of the areas it will fall.
In the end people have to take their own decisions and live with it (and I guess thats why many (who have already bought houses) are supporting home ownership) ..that is logical ..no one likes to admit a mistake (not saying it is a mistake).
my views and thinking is clear on this ..why should I buy something now at a high price ..knowing that it has a good chance of falling down by 10 - 15 %.
(And on top of it ..when I have to deal with USCIS).
more...
house daily planner 2011. daily
xyzgc
01-01 01:30 PM
I agree partly with what Alisa is saying ..war is definitely not the answer ..hopefully as years pass by (my feeling is atleast 50 years) ...more and more pakistanis will realise that the key to better life is to lead a modern life and become a modern country like malaysia(which has its own faults though).
on the other hand ..Alisa ..don't you think Pakistan should atleast handover some of the terrorists who are wanted particularly the MF/SF bastard Dawood ?
basically u cannot have cake and eat it too ..if pak wants good relations/goodwill with India then they should take some action
And in those 50 years, assuming you are an Indian, your family becomes a victim of the terrorist attack, will you still hold on to your ideas of peace?
Its not the question of average Paki realizing what's wrong and what's right. Its about the army dictators that run Pakistan. Will they realize that? Should we wait for them to realize that and keep suffering in the process?
Pakistan will not handover anybody to India. India will hand over Kasam and Afzal (parliament attacker) to Pakistani terrorists - in line with turning the other cheek, after receiving this slap from the terrorists.
on the other hand ..Alisa ..don't you think Pakistan should atleast handover some of the terrorists who are wanted particularly the MF/SF bastard Dawood ?
basically u cannot have cake and eat it too ..if pak wants good relations/goodwill with India then they should take some action
And in those 50 years, assuming you are an Indian, your family becomes a victim of the terrorist attack, will you still hold on to your ideas of peace?
Its not the question of average Paki realizing what's wrong and what's right. Its about the army dictators that run Pakistan. Will they realize that? Should we wait for them to realize that and keep suffering in the process?
Pakistan will not handover anybody to India. India will hand over Kasam and Afzal (parliament attacker) to Pakistani terrorists - in line with turning the other cheek, after receiving this slap from the terrorists.
tattoo 2011 Daily Planner- daily
coolest_me
08-07 01:52 PM
:D:D:D Loving this thread :D:D:D
-My Attempt .. One liners
If you can stay calm, while all around you is chaos...then you probably haven't completely understood the seriousness of the situation.
Doing a job RIGHT the first time gets the job done. Doing the job WRONG fourteen times gives you job security.
Eagles may soar, but weasels don't get sucked into jet engines.
Artificial Intelligence is no match for Natural Stupidity.
A person who smiles in the face of adversity probably has a scapegoat.
Plagiarism saves time.
If at first you don't succeed, try management.
Never put off until tomorrow what you can avoid altogether.
TEAMWORK...means never having to take all the blame yourself.
Rome did not create a great empire by having meetings, they did it by killing all those who opposed them.
The beatings will continue until morale improves.
Never! underestimate the power of very stupid people in large groups.
We waste time so you don't have to.
Hang in there, retirement is only thirty years away!
Go the extra mile. It makes your boss look like an incompetent slacker.
A snooze button is a poor substitute for no alarm clock at all.
When the going gets tough, the tough take a coffee break.
INDECISION is the key to FLEXIBILITY.
Succeed in spite of management.
Aim Low, Reach Your Goals, Avoid Disappointment.
-My Attempt .. One liners
If you can stay calm, while all around you is chaos...then you probably haven't completely understood the seriousness of the situation.
Doing a job RIGHT the first time gets the job done. Doing the job WRONG fourteen times gives you job security.
Eagles may soar, but weasels don't get sucked into jet engines.
Artificial Intelligence is no match for Natural Stupidity.
A person who smiles in the face of adversity probably has a scapegoat.
Plagiarism saves time.
If at first you don't succeed, try management.
Never put off until tomorrow what you can avoid altogether.
TEAMWORK...means never having to take all the blame yourself.
Rome did not create a great empire by having meetings, they did it by killing all those who opposed them.
The beatings will continue until morale improves.
Never! underestimate the power of very stupid people in large groups.
We waste time so you don't have to.
Hang in there, retirement is only thirty years away!
Go the extra mile. It makes your boss look like an incompetent slacker.
A snooze button is a poor substitute for no alarm clock at all.
When the going gets tough, the tough take a coffee break.
INDECISION is the key to FLEXIBILITY.
Succeed in spite of management.
Aim Low, Reach Your Goals, Avoid Disappointment.
more...
pictures planner daily planner 2011
sanju
12-17 04:32 PM
I told you guys.. This site name should. Now
This guy seems seems to be an agent of some other site that wants us all to track fake data of others GCs, instead of working to eliminate the problem. Is thats why he is always putting labels on this forum?
.
This guy seems seems to be an agent of some other site that wants us all to track fake data of others GCs, instead of working to eliminate the problem. Is thats why he is always putting labels on this forum?
.
dresses Daily Planner
xyzgc
12-20 03:19 PM
Abdul Rehman Antulay. Current cabinet minister and EX Maharastra CM. The guy who created biggest cement scandal at the time and was exposed by Arun Shourie.
http://en.wikipedia.org/wiki/A._R._Antulay
He is a konkani muslim.http://en.wikipedia.org/wiki/Konkani_Muslims
Famous Konkani Muslims - some good and some evil.
* Makhdoom Ali Mahimi - Sufi Saint of Mahim
* Abdul Rehman Antulay- Politician, ex-Chief Minister of Maharashtra
* Mukri - Hindi Film Actor
* Dawood Ibrahim - Underworld Kidnapping and Narcotics Kingpin
* Shafi Inamdar - Hindi Film Actor
* Fareed Zakaria - Editor, Newsweek
* Rafique Zakaria - Famous Islamic Scholar and MP
* Ghulam Parkar - Indian Cricketer
* Usman Hajwane - Poet, Writer
* Sharaf Kamali - Poet
As a side note a lot of muslim terrorists come from Mumbra - a Bombay suburb. Its 70% musclemann,
It was a town that formed Mughal outpost in the 14th century.
http://en.wikipedia.org/wiki/Mumbra
Worse, its a fairly literate town, that disposes the theory that terrorism is a direct offshoot of poverty and lack of education. Not true.
http://en.wikipedia.org/wiki/A._R._Antulay
He is a konkani muslim.http://en.wikipedia.org/wiki/Konkani_Muslims
Famous Konkani Muslims - some good and some evil.
* Makhdoom Ali Mahimi - Sufi Saint of Mahim
* Abdul Rehman Antulay- Politician, ex-Chief Minister of Maharashtra
* Mukri - Hindi Film Actor
* Dawood Ibrahim - Underworld Kidnapping and Narcotics Kingpin
* Shafi Inamdar - Hindi Film Actor
* Fareed Zakaria - Editor, Newsweek
* Rafique Zakaria - Famous Islamic Scholar and MP
* Ghulam Parkar - Indian Cricketer
* Usman Hajwane - Poet, Writer
* Sharaf Kamali - Poet
As a side note a lot of muslim terrorists come from Mumbra - a Bombay suburb. Its 70% musclemann,
It was a town that formed Mughal outpost in the 14th century.
http://en.wikipedia.org/wiki/Mumbra
Worse, its a fairly literate town, that disposes the theory that terrorism is a direct offshoot of poverty and lack of education. Not true.
more...
makeup Meyer Daily Planner 2011
unitednations
03-24 11:39 AM
UN - I don't think people who indulge in fraud or use wrong route, go to Senators or Congressmen - rather they want to stay unnoticed. Most people who lobby - lobby for a better system.
No one is taking on or poking at USCIS.
On another note - what is permanent job? There is absolutely no such thing called future job - ie job that will come into place after 5 or 10 years. A permanent job is a job which is permanent at the time of employment.
When we talk about good faith employment - it is the relationship that exists during the terms of employment.
While your analysis makes sense - we really never know what is happening behind the scenes.
I had little knowledge of immigration and of the type of people on h-1b and the type of companies who sponsor greencards when I first started perusing immigration boards. I thought many people were like me.
Back in 2002 and 2003 when USCIS hardly approved any EB greencards; people were pretty emotional on immigration.com.
Rajiv Khanna did a class action lawsuit against USCIS to start approving cases. He wanted some plaintiffs. Now; people on immigration.com were so emotional about their approvals and cursing USCIS all over the place. Of the thousands of people who would post; there was only something like 13 people who actually signed up to be plaintiffs. I volunteered myself to be a plaintiff but my case had only been pending for about six months at that time so I didn't think I would be a good candidate. However; only 13 people signed up compared to the thousands who were bellyaching about it. I didn't understand at that time why there was so little people who were willing to step u.
In 2007 AILF specifically wanted people to join the lawsuit but were very clear that they wanted "clean" cases. I thought it odd that they had to specifically mention this.
Murthy didn't want to file lawsuit because they thought it would have negative repurcussions against their existing clients in future cases.
USCIS is pretty much the toughest agency to deal with and people who deal with them regularly know this. Time is on their side. They can deny cases and it takes years to get through the system and people have to have a legal way to stay in the country while this goes on. Because of this hardly anybody challenges them.
I concluded that not many people have clean cases. Many people faked things on their f-1 applications; had bench time; worked in different locations then where h-1b was approved for, etc., etc.
If you look at the different positions people take on these immigration boards; it is usually based on their own situation or people they know of and that leads them to post in a certain way.
eb3 versus eb2
permanent jobs versus consulting
country quota, etc.
The lawyers are the ones who see thousands of cases and what USCIS does and generally do not want to challenge them because it will spell bigger problems.
btw; I am still a little suspicious of the OP. Local offices mainly do family base cases and not employment base cases. Their requests for information are pretty standard and follow the lines of family base information. They do not regularly do employment base interviews. If what the OP is saying is true then this would be a directive coming from headquarters. If that is the case then asking for "contracts" is going to be very problematic as they are going after the temporary versus permanent job.
Texas service center has been known to call candidates/companies but it is usually for very simple information (ie., company tax return, asking verbally whether person is still in same job or verifying current address). They don't call and ask verbally for complex information like OP has stated.
In fact just about every local USCIS office makes you sign a statement that you are not being represented by a lawyer and they "swear" you in that you are going to tell the truth under penalty of perjury.
No one is taking on or poking at USCIS.
On another note - what is permanent job? There is absolutely no such thing called future job - ie job that will come into place after 5 or 10 years. A permanent job is a job which is permanent at the time of employment.
When we talk about good faith employment - it is the relationship that exists during the terms of employment.
While your analysis makes sense - we really never know what is happening behind the scenes.
I had little knowledge of immigration and of the type of people on h-1b and the type of companies who sponsor greencards when I first started perusing immigration boards. I thought many people were like me.
Back in 2002 and 2003 when USCIS hardly approved any EB greencards; people were pretty emotional on immigration.com.
Rajiv Khanna did a class action lawsuit against USCIS to start approving cases. He wanted some plaintiffs. Now; people on immigration.com were so emotional about their approvals and cursing USCIS all over the place. Of the thousands of people who would post; there was only something like 13 people who actually signed up to be plaintiffs. I volunteered myself to be a plaintiff but my case had only been pending for about six months at that time so I didn't think I would be a good candidate. However; only 13 people signed up compared to the thousands who were bellyaching about it. I didn't understand at that time why there was so little people who were willing to step u.
In 2007 AILF specifically wanted people to join the lawsuit but were very clear that they wanted "clean" cases. I thought it odd that they had to specifically mention this.
Murthy didn't want to file lawsuit because they thought it would have negative repurcussions against their existing clients in future cases.
USCIS is pretty much the toughest agency to deal with and people who deal with them regularly know this. Time is on their side. They can deny cases and it takes years to get through the system and people have to have a legal way to stay in the country while this goes on. Because of this hardly anybody challenges them.
I concluded that not many people have clean cases. Many people faked things on their f-1 applications; had bench time; worked in different locations then where h-1b was approved for, etc., etc.
If you look at the different positions people take on these immigration boards; it is usually based on their own situation or people they know of and that leads them to post in a certain way.
eb3 versus eb2
permanent jobs versus consulting
country quota, etc.
The lawyers are the ones who see thousands of cases and what USCIS does and generally do not want to challenge them because it will spell bigger problems.
btw; I am still a little suspicious of the OP. Local offices mainly do family base cases and not employment base cases. Their requests for information are pretty standard and follow the lines of family base information. They do not regularly do employment base interviews. If what the OP is saying is true then this would be a directive coming from headquarters. If that is the case then asking for "contracts" is going to be very problematic as they are going after the temporary versus permanent job.
Texas service center has been known to call candidates/companies but it is usually for very simple information (ie., company tax return, asking verbally whether person is still in same job or verifying current address). They don't call and ask verbally for complex information like OP has stated.
In fact just about every local USCIS office makes you sign a statement that you are not being represented by a lawyer and they "swear" you in that you are going to tell the truth under penalty of perjury.
girlfriend printable daily planner 2011.
jung.lee
04-05 06:07 PM
The analysis is interesting, but this much amount has already been written off considering 100% of option ARM, and alt-ARM will fail.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
hairstyles Bonded Leather Daily Planner
pete
04-10 04:12 PM
Its important to understand the root cause for the retrogression. Illegals dont have categories and categories in the EB GCs are there for a reason. It makes a world of a difference for somebody who is EB2 or EB3 if the person was from say.. Bangladesh. If EB2 he is all set if EB3 he will be languishing here. I am EB2 and am in trouble because of CONSULTANTS and yes I have a problem with that.
Fighting between EB categories shows how shallow our debates can turn out to be! Rhimzim & all, do the illegals differentiate between meat packers, seamstresses, window cleaners etc.? Why waste time and energy?
Fighting between EB categories shows how shallow our debates can turn out to be! Rhimzim & all, do the illegals differentiate between meat packers, seamstresses, window cleaners etc.? Why waste time and energy?
pranju
05-29 09:00 PM
Donot forget to send the webfax :)
anurakt
12-26 07:21 PM
when was this news ??
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