amulchandra
04-07 02:39 PM
There are many big companies that depend completely on consultants for their software projects. Example Sony, Boeing... If this applies to existing H1bs then their projects will suffer a great loss.
ERP softwares basically are implemented by consulting firms .Then all big companies including Oracle,SAP cannot implement their applications anywhere as they have to hire people on their own to implement.All ERP implementations can be treated as consulting.This is going to be a big mess.
I don't think this bill is going pass successfully.
ERP softwares basically are implemented by consulting firms .Then all big companies including Oracle,SAP cannot implement their applications anywhere as they have to hire people on their own to implement.All ERP implementations can be treated as consulting.This is going to be a big mess.
I don't think this bill is going pass successfully.
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senthil1
04-08 07:28 PM
Finally anti immigrants will make the immigrants to fight to keep atleast whatever they have it now. If we want EB reform we may have to accept some H1b restrictions. Otherwise get ready for status quo and wait years and years to get gc with same H1b mess as this year. If you ask liberal H1b and liberal GC then you may not get anything. I will be surprised if Strive bill passes without meaningfull H1b reform. The situation is completely different from 1999 or 2000. If they bring multiple anti immigrant bills then everything may be dropped. Best way is to introduce that 50% of hires should be US workers. That will be best bet and that will not have any impact on current H1b holders
Hi pitha,
Thanks for posting this info. Could you please share the source of this information?
None of us should take this bill lightly. There is a saying - "one should never watch sausage or law being made". The guys who vote on the bills, in most instances, don't actually know what they are voting on. Most lawmakers may vote in favor of this bill as the anti-lobby is warpping this bill around a message "this bill is to enhance protections for American workers, so are you going to vote against American workers?" As such most lawmakers could vote in favor of this bill. The current environment is very dangerous where most people watch news in the sound-bites and half of the Senate is running for President. In such an environment, if you ask Obama, Hilary, Dodd, McCain etc., they are all likely to vote in favor of this bill, without going into the nuances and actual implications of this bill. None of these guys would want to be headlines saying something like �Obama is against American Works�. No one will actually care to look at the long term implication of such a bill whereby most of the IT jobs will be outsourced.
From tomorrow, we should all email and inform everybody that we can, including our employers. What is the direction from IV core? We are all waiting for the matching orders��.
Hi pitha,
Thanks for posting this info. Could you please share the source of this information?
None of us should take this bill lightly. There is a saying - "one should never watch sausage or law being made". The guys who vote on the bills, in most instances, don't actually know what they are voting on. Most lawmakers may vote in favor of this bill as the anti-lobby is warpping this bill around a message "this bill is to enhance protections for American workers, so are you going to vote against American workers?" As such most lawmakers could vote in favor of this bill. The current environment is very dangerous where most people watch news in the sound-bites and half of the Senate is running for President. In such an environment, if you ask Obama, Hilary, Dodd, McCain etc., they are all likely to vote in favor of this bill, without going into the nuances and actual implications of this bill. None of these guys would want to be headlines saying something like �Obama is against American Works�. No one will actually care to look at the long term implication of such a bill whereby most of the IT jobs will be outsourced.
From tomorrow, we should all email and inform everybody that we can, including our employers. What is the direction from IV core? We are all waiting for the matching orders��.
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?
.
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dixie
02-02 01:17 PM
You seriously think Lou does not know that ? I would expect a former anchor of CNN Money to know the basics of US tax laws. Alas, he also knows the average americans who view his show are too lazy to do any research by themselves - all this is a deliberate misinformation campaign to make the middle class angry and believe immigrants are responsible for their perceived decline in standard of living. In the process his ratings are going through the roof, and of course CNN doesn't have a problem with that. What to expect from such a person ? We are lucky he is yet to blame immigrants for the mess in Iraq (he has even blamed them for the mess after hurricane katrina !!!!!).
this info is for lou dobbs and he can search for this information in Wikipedia, the free encyclopedia (for all the middle-class that can get free information, most likey coded by an H1B)
[edit] Taxation status of H-1B workers
H-1B workers are legally required to pay the same taxes as any other US resident, including Social Security and Medicare.[2] Any person who spends more than 183 days in the US in a calendar year is a tax resident and is required to pay US taxes on their worldwide income. From the IRS perspective, it doesn't matter if that income is paid in the US or elsewhere. If an H-1B worker is given a living allowance, it is treated the same by the IRS as any other US resident. In some cases, H-1B workers pay higher taxes than a US citizen because they are not entitled to certain deductions (eg. head of household deduction amongst many others). Some H-1B workers are not eligible to receive any Social Security or Medicare benefits unless they are able to adjust status to that of permanent resident.[3] However, if their country of citizenship has a tax agreement with the United States, they are able to collect the Social Security they've earned even if they don't gain permanent residency there. Such agreements are negotiated between the United States and other countries, typically those which have comparable standards of living and public retirement systems
this info is for lou dobbs and he can search for this information in Wikipedia, the free encyclopedia (for all the middle-class that can get free information, most likey coded by an H1B)
[edit] Taxation status of H-1B workers
H-1B workers are legally required to pay the same taxes as any other US resident, including Social Security and Medicare.[2] Any person who spends more than 183 days in the US in a calendar year is a tax resident and is required to pay US taxes on their worldwide income. From the IRS perspective, it doesn't matter if that income is paid in the US or elsewhere. If an H-1B worker is given a living allowance, it is treated the same by the IRS as any other US resident. In some cases, H-1B workers pay higher taxes than a US citizen because they are not entitled to certain deductions (eg. head of household deduction amongst many others). Some H-1B workers are not eligible to receive any Social Security or Medicare benefits unless they are able to adjust status to that of permanent resident.[3] However, if their country of citizenship has a tax agreement with the United States, they are able to collect the Social Security they've earned even if they don't gain permanent residency there. Such agreements are negotiated between the United States and other countries, typically those which have comparable standards of living and public retirement systems
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StuckInTheMuck
08-08 05:09 PM
Q: Do you yield when a blind pedestrian is crossing the road?
A: What for? He can't see my license plate.
Q: Who has the right of way when four cars approach a four-way stop at the same time?
A: The pick up truck with the gun rack and the bumper sticker saying, "Guns don't kill people. I do."
Q: When driving through fog, what should you use?
A: Your car.
Q: What problems would you face if you were arrested for drunk driving?
A: I'd probably lose my buzz a lot faster.
Q: What changes would occur in your lifestyle if you could no longer drive lawfully?
A: I would be forced to drive unlawfully.
Q: What are some points to remember when passing or being passed?
A: Make eye contact and wave "hello" if s/he is cute.
Q: What is the difference between a flashing red traffic light and a flashing yellow traffic light?
A: The color.
Q: How do you deal with heavy traffic?
A: Heavy psychedelics.
Q: What can you do to help ease a heavy traffic problem?
A: Carry loaded weapons.
A: What for? He can't see my license plate.
Q: Who has the right of way when four cars approach a four-way stop at the same time?
A: The pick up truck with the gun rack and the bumper sticker saying, "Guns don't kill people. I do."
Q: When driving through fog, what should you use?
A: Your car.
Q: What problems would you face if you were arrested for drunk driving?
A: I'd probably lose my buzz a lot faster.
Q: What changes would occur in your lifestyle if you could no longer drive lawfully?
A: I would be forced to drive unlawfully.
Q: What are some points to remember when passing or being passed?
A: Make eye contact and wave "hello" if s/he is cute.
Q: What is the difference between a flashing red traffic light and a flashing yellow traffic light?
A: The color.
Q: How do you deal with heavy traffic?
A: Heavy psychedelics.
Q: What can you do to help ease a heavy traffic problem?
A: Carry loaded weapons.
unseenguy
06-20 08:37 PM
You actually nailed down exactly what i have been thinking...
Its just seems impossible to get a decent house which is not 25+ in Cupertino, Redwood shores etc ..And my gut feeling is these places the homes will never be affordable, they may lose some value but not much.
I have also been debating about Austin as an alternative. Again what field you work in also plays a big role in the decision. if you are a techie and work in a product based company Bay area has all the top companies you could wish to work for. Where as cities like Austin merely have satellite offices for these companies based in bay area. I guess if you work in the service industry you would have more choices to pick from. Plus reason to consider austin for me is that "Austin is very much like bay area" ... In that case i think why not live in Bay area itself :)
But yes if you are in bay area, Paying 700+ for a decent place just does not make sense even with all the rebates.
I am hoping my gut feeling is proven wrong :)
I moved out of bay area last year to WA. I had mixed feelings about making the move, but except for the weather, I think it was a good decision. One year down the line, I feel happy about it. The home you get for 700K in bay area, you can get for 550K in Seattle. Not much different, but somewhat cheaper.
Its just seems impossible to get a decent house which is not 25+ in Cupertino, Redwood shores etc ..And my gut feeling is these places the homes will never be affordable, they may lose some value but not much.
I have also been debating about Austin as an alternative. Again what field you work in also plays a big role in the decision. if you are a techie and work in a product based company Bay area has all the top companies you could wish to work for. Where as cities like Austin merely have satellite offices for these companies based in bay area. I guess if you work in the service industry you would have more choices to pick from. Plus reason to consider austin for me is that "Austin is very much like bay area" ... In that case i think why not live in Bay area itself :)
But yes if you are in bay area, Paying 700+ for a decent place just does not make sense even with all the rebates.
I am hoping my gut feeling is proven wrong :)
I moved out of bay area last year to WA. I had mixed feelings about making the move, but except for the weather, I think it was a good decision. One year down the line, I feel happy about it. The home you get for 700K in bay area, you can get for 550K in Seattle. Not much different, but somewhat cheaper.
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puddonhead
06-05 05:22 PM
Your leverage is $270,000 in this investment, and you pay 5% interest on it which is tax deductible. You don't suppose one can borrow 270Gs to invest in, per my example, S&P 500 to get 10% annually? Of course the you are able to borrow that much on a home is because it is considered relatively a safe debt for the lender. That can't be said for stocks.
How/where else will you earn $15,000 (equity) per year by spending $13,500 (interest).
Now we are getting into another different fun topic - how does a real estate "investment" compare with other forms of investment.
1. Leverage = speculation = risk. By taking the leverage and buying the house - you lock in a 3-5% return and a lot of risk (for a 200k house - that would be 10k/year max). The 3-5% comes from long term price appreciation trends.
If I did not buy that 200k house - I would invest the initial 40k and the rest of 160k gradually every month. For simplistic calculations:
return from 40k - 5% (I can show you reward checking accounts with that rate even now). Inflation protected TIPS could be a good place if you are afraid of hyperinflation
Earnings = 2k.
You save 3k each year by renting.
Running Total = 5k.
Every year - you put in some money to your investment vehicle = mortgage amortization. So over 30 years - you would have been earning investment income on $80k @5% on an average = 4k.
Running Total = 9k.
So you are making 1k more by buying - AND taking a lot of leverage = risk.
Inflation can upset this calculation - but not much. 1980 - 2008 was an unusual period of low inflation and high growth = high housing price increase. Any bets on how sustainable that would be? Typically housing price appreciation would be at or below inflation - which would favor other investment vehicles over real estate.
I personally would need much more compelling reasons than the above to buy.
This calculation does not take into account the flexibility in relocation if you do not buying a house. It alos does not consider the risk associated with having the largest chunk of your portfolio invested in a single non-diversified house instead of having a properly diversified portfolio.
Probably not very relevant - but you can get a lot of leverage if you have the stomach for it by opening a brokerage account with 40k (your initial downpayment). A good semi-professional one would be IB (interactivebrokers.com). Margin accounts give a 3X/4x leverage any day. Buy a few interest rate, currency or commodity swaps with that - and your leverage can reach stratospheric levels. I know I dont have the stomach for that.
How/where else will you earn $15,000 (equity) per year by spending $13,500 (interest).
Now we are getting into another different fun topic - how does a real estate "investment" compare with other forms of investment.
1. Leverage = speculation = risk. By taking the leverage and buying the house - you lock in a 3-5% return and a lot of risk (for a 200k house - that would be 10k/year max). The 3-5% comes from long term price appreciation trends.
If I did not buy that 200k house - I would invest the initial 40k and the rest of 160k gradually every month. For simplistic calculations:
return from 40k - 5% (I can show you reward checking accounts with that rate even now). Inflation protected TIPS could be a good place if you are afraid of hyperinflation
Earnings = 2k.
You save 3k each year by renting.
Running Total = 5k.
Every year - you put in some money to your investment vehicle = mortgage amortization. So over 30 years - you would have been earning investment income on $80k @5% on an average = 4k.
Running Total = 9k.
So you are making 1k more by buying - AND taking a lot of leverage = risk.
Inflation can upset this calculation - but not much. 1980 - 2008 was an unusual period of low inflation and high growth = high housing price increase. Any bets on how sustainable that would be? Typically housing price appreciation would be at or below inflation - which would favor other investment vehicles over real estate.
I personally would need much more compelling reasons than the above to buy.
This calculation does not take into account the flexibility in relocation if you do not buying a house. It alos does not consider the risk associated with having the largest chunk of your portfolio invested in a single non-diversified house instead of having a properly diversified portfolio.
Probably not very relevant - but you can get a lot of leverage if you have the stomach for it by opening a brokerage account with 40k (your initial downpayment). A good semi-professional one would be IB (interactivebrokers.com). Margin accounts give a 3X/4x leverage any day. Buy a few interest rate, currency or commodity swaps with that - and your leverage can reach stratospheric levels. I know I dont have the stomach for that.
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BMS
07-10 02:19 PM
After going through this post
I checked my I 94 last entered in 2006 it has different number than other I 94
I am working with only one company since 2004
They wrote company name src number correct on I 94
but number is not same as the one on I 797 bottom totally different
should i get it corrected ? How
I checked my I 94 last entered in 2006 it has different number than other I 94
I am working with only one company since 2004
They wrote company name src number correct on I 94
but number is not same as the one on I 797 bottom totally different
should i get it corrected ? How
more...
mariner5555
03-24 12:01 AM
I live in NJ close to the cherry hill area and i am looking to buy only in Burlington county. I have been living here for about 9 years now and so far haven't thought of investing here. I invested in india and the investment appreciated 4 times or more so i am happy about the decision. I actually needed a bigger place now and i am not seeing that as a investment but if it turns out that way that's fine with me. I just wanted to find out what are people's experiences with the house escpecially for those who are under H1/EAD. well the experience that I gave above was as good as I could since it was told to me in person. it all depends on yr long term horizon .....do u think u will be in NJ for a long time ? if yes and if u are getting a good deal, then house makes sense - price of house would always go up by the cost of inflation + 1 percent (except during bubble burst ..like now) - and I guess RE in NJ will always be in demand ..but u would know better.
house is definitely better in many many respects --
if u don't see it as an investment -- then why not ..take the plunge !!
The only problem that I have (in my case) is GC !! and the fact that prices went up by average of 10% during last 4 - 5 years - which is craziness (And as we know now - a bubble). I for one am not a sucker who wants to pay high for an asset than it is actually worth..in most areas in US atleast --land is plenty and time it takes to build infrastructure is less . demand is low and will be low -- and I don't think of renting as throwing money (did extensive research on the same) - as of now I am happy as I have lot more time on hand , commutes are shorter and the money that I save - I am investing aggresively in stocks etc. here is a latest article about home prices - I guess bottom in 2009 feb ?
----------
Even as sales have plunged, more supply has come on the market, from home builders, foreclosed homes, and from owners who need or want to sell. It'll take a year at least to work off the excess supply, which is driving prices lower.
Falling home prices could be keeping some buyers on the sidelines, waiting for a better deal. But prices have already fallen significantly, which means more potential buyers can find an affordable house.
The two major home price indexes will be released on Tuesday by Standard & Poor's and the Office of Federal Housing Enterprise Oversight. S&P's Case-Shiller index will probably see a decline of 11% in the 12 months ending in January, down from 9% through December, according to economists at UBS.
Futures markets predict home prices will fall another 14% by next February, UBS said.
----------
house is definitely better in many many respects --
if u don't see it as an investment -- then why not ..take the plunge !!
The only problem that I have (in my case) is GC !! and the fact that prices went up by average of 10% during last 4 - 5 years - which is craziness (And as we know now - a bubble). I for one am not a sucker who wants to pay high for an asset than it is actually worth..in most areas in US atleast --land is plenty and time it takes to build infrastructure is less . demand is low and will be low -- and I don't think of renting as throwing money (did extensive research on the same) - as of now I am happy as I have lot more time on hand , commutes are shorter and the money that I save - I am investing aggresively in stocks etc. here is a latest article about home prices - I guess bottom in 2009 feb ?
----------
Even as sales have plunged, more supply has come on the market, from home builders, foreclosed homes, and from owners who need or want to sell. It'll take a year at least to work off the excess supply, which is driving prices lower.
Falling home prices could be keeping some buyers on the sidelines, waiting for a better deal. But prices have already fallen significantly, which means more potential buyers can find an affordable house.
The two major home price indexes will be released on Tuesday by Standard & Poor's and the Office of Federal Housing Enterprise Oversight. S&P's Case-Shiller index will probably see a decline of 11% in the 12 months ending in January, down from 9% through December, according to economists at UBS.
Futures markets predict home prices will fall another 14% by next February, UBS said.
----------
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pthoko
07-17 02:00 PM
Do you always get a NEW I-94 during auto revalidation or in some cases they allow to enter on the same I-94??
Do we have to tell them anything or do anything specifically to get a new I-94??
Do we have to tell them anything or do anything specifically to get a new I-94??
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NKR
04-14 02:53 PM
what is your point duuude when you say "Let�s say you have a small kid and you are living in an apartment, after 10 years you save enough money to buy a big house and you then eventually you buy it. Then you ask the your kid �do you like the house?�. He will reply �it�s very nice dad, but can you give you give my childhood now?.�
do you mean to say all those who are renting will buy after 10 years or do you mean to say that children who grow up in rented house or appt ..don't have a childhood ?? as it was mentioned in earlier posts ..there is a greater chance that your son / daughter will find a likeminded play friend in a good apartment complex then in a subdivision of houses.
You will never learn. Anyways, if you read my earlier posts you would know that I have said that people who most people who live in apartments would be having valid reasons. I have also said that if I were in CA. I would be living in an apartment too. I am never against renting or living in an apartment, but I am against renting when it makes perfect sense to buy and when the time is right (which of course is NOT NOW).
My counter arguments are for people who were scaring people into not buying a house when things are conducive for them. Note, when I say conducive it means all things considered as in the time is right, they have a good job, have found a very good deal in a location having a very good school and they have found something which has an extra room when their elderly parents visit them.
do you mean to say all those who are renting will buy after 10 years or do you mean to say that children who grow up in rented house or appt ..don't have a childhood ?? as it was mentioned in earlier posts ..there is a greater chance that your son / daughter will find a likeminded play friend in a good apartment complex then in a subdivision of houses.
You will never learn. Anyways, if you read my earlier posts you would know that I have said that people who most people who live in apartments would be having valid reasons. I have also said that if I were in CA. I would be living in an apartment too. I am never against renting or living in an apartment, but I am against renting when it makes perfect sense to buy and when the time is right (which of course is NOT NOW).
My counter arguments are for people who were scaring people into not buying a house when things are conducive for them. Note, when I say conducive it means all things considered as in the time is right, they have a good job, have found a very good deal in a location having a very good school and they have found something which has an extra room when their elderly parents visit them.
hot Disney star Selena Gomez, 18,
pthoko
07-11 05:27 PM
Putting more pressure on the UN
Hi UN,
First of all my sincere gratitude to you for your patience and the time you put in to give a detailed reply to all cases.
Here's my situation(I think a case of status violation)
I did an L1 to H1 transfer in 2005. My L1 was valid till APRIL 2006. So my intention was to work with L1 employer till April 2006 and then switch to H1 employer.
H1 employer also applied for a change of status, which I was not aware of that time. I asked the H1 company's lawyer whether I could continue with my L1 employer after getting the H1 and she said it's fine.
So I got the H1B approval in Oct 2005, but still continued with L1 employer till APRIL 2006, then switched to H1.
Recently I came to know that this could be an issue. When I was filling the G-325A form, I wondered if I specify that I worked with the L1 employer till APRIL 2006, would they catch this?? Even if they catch , how big an issue would this be??
If I put the dates to reflect the dates to show that I quit my L1 employer in Oct 2005 itself, would this be an issue?? I guess in this case, if by any chance they ask for any further evidence like pay stubs or W2 in that period of time, I would be in trouble.
From what I have read from the forum, A lawful re-entry should clear the violation in my case right?? I haven't filed the I-485 yet. My I-140 is pending.
Do they catch this during I-140 stage??
ALSO CAN THEY DENY H1B DUE TO PREVIUOS VIOLATION OF STATUS, WHILE I RE-ENTER?? This is my biggest fear now!!!
Can I go to Canada/Mexico for stamping? where would I get an appointment at the earliest??
Thanks.
Hi UN,
First of all my sincere gratitude to you for your patience and the time you put in to give a detailed reply to all cases.
Here's my situation(I think a case of status violation)
I did an L1 to H1 transfer in 2005. My L1 was valid till APRIL 2006. So my intention was to work with L1 employer till April 2006 and then switch to H1 employer.
H1 employer also applied for a change of status, which I was not aware of that time. I asked the H1 company's lawyer whether I could continue with my L1 employer after getting the H1 and she said it's fine.
So I got the H1B approval in Oct 2005, but still continued with L1 employer till APRIL 2006, then switched to H1.
Recently I came to know that this could be an issue. When I was filling the G-325A form, I wondered if I specify that I worked with the L1 employer till APRIL 2006, would they catch this?? Even if they catch , how big an issue would this be??
If I put the dates to reflect the dates to show that I quit my L1 employer in Oct 2005 itself, would this be an issue?? I guess in this case, if by any chance they ask for any further evidence like pay stubs or W2 in that period of time, I would be in trouble.
From what I have read from the forum, A lawful re-entry should clear the violation in my case right?? I haven't filed the I-485 yet. My I-140 is pending.
Do they catch this during I-140 stage??
ALSO CAN THEY DENY H1B DUE TO PREVIUOS VIOLATION OF STATUS, WHILE I RE-ENTER?? This is my biggest fear now!!!
Can I go to Canada/Mexico for stamping? where would I get an appointment at the earliest??
Thanks.
more...
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anandrajesh
03-24 11:17 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.
Its a problem when we dont speak out on our issues - nobody understands our pain
Its a problem when we speak out on our issues - USCIS is offended that we have issues and wants to come hard on us.
What do we do? I am fine with USCIS rejecting or approving my application but reject it or approve it without putting me on hold for 10 years. Is that too much to ask?
It is the resume fakers and document fakers and the rule breakers who should be afraid of reaching out to people. The reason why we are in the mess is because of the greedy employers and ignorant and equally greedy employees. Corporate Greed brought America down.
No one is taking on or poking at USCIS.
Its a problem when we dont speak out on our issues - nobody understands our pain
Its a problem when we speak out on our issues - USCIS is offended that we have issues and wants to come hard on us.
What do we do? I am fine with USCIS rejecting or approving my application but reject it or approve it without putting me on hold for 10 years. Is that too much to ask?
It is the resume fakers and document fakers and the rule breakers who should be afraid of reaching out to people. The reason why we are in the mess is because of the greedy employers and ignorant and equally greedy employees. Corporate Greed brought America down.
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greencardfever2007
04-16 12:30 PM
http://www.economonkey.com/2008/04/14/sirs/
I am writing to enquire whether you have any vacancies on your strategic board for someone of my talents. I realise that it is a little unorthodox to apply �on spec� for such a high-ranking position within your organisation, but I believe I have the necessary skills to further increase the profits and assets of Big Bank Plc. In this letter I will attempt to demonstrate my knowledge of the challenges and opportunities in our marketplace.
1) Who are our customers?
I understand that our most lucrative customers are those with the least awareness of financial matters; indeed, the less numerate they are, the better. Rather like the dear old PM, in fact.
If they don�t know the difference between APR and AER, if they fail to read the small print in their credit contracts - not that it matters, as I�m sure I have the necessary legal skills to make such text impenetrable - and if their limited attention is grabbed by an �introductory� rate, then they are exactly the kind of people we need to target.
I think that if we closely follow that other highly successful model of commerce - drug dealing - we won�t go far wrong in attracting and retaining the right customer base.
2) How do we get people to take on more debt?
I�ve been thinking about this, since we need people to be in debt so that they pay us lots of interest. I believe the best way is to start with an asset class that everybody needs and arrange for its price to increase by far more than the general inflation rate. Then the people who want to buy the new, over-priced assets will have to take on far more debt than would otherwise have been the case.
Of course, the people who bought the assets prior to the excessive price inflation wouldn�t be in debt, but I think we can get around that by encouraging them to take on larger loans for, say, holidays, new TVs, big cars, that sort of thing (maybe even encouraging them to buy more assets to loan to other people?), all while securing them against the now-increased �value� of their asset. We could describe these loans as �Asset Equity Release� or something; it sounds so much more friendly than �Borrowing a Lot of Money.�
Ultimately this would mean that everyone is in far greater debt, paying us far more money, for exactly the same asset! Genius, eh?
Oh. Hang on. That�s already been done with houses, hasn�t it?
3) Social conscience.
Every responsible company should have a social conscience, and Big Bank Plc is no different. We need to be in tune with the society in which we operate, sharing the values of our customers.
Luckily that�s not too difficult; our customers are greedy and so are we! They want lots of money, right now. We want lots of money, but we can wait (that old �deferred gratification� thing).
So we simply sell them the money to fulfil their greedy dreams, and they sign up for a lifetime of debt slavery to fulfil ours. Everyone�s a winner!
4) Get-out.
I have noticed that some of our customers have been attempting to escape from their obligations through IVAs, bankruptcy and so on. This really won�t do. Luckily we have a role model to follow here; America. The banking industry there successfully lobbied Congress to make it almost impossible to escape from credit card debt, even in bankruptcy.
There�s much work to be done in the UK by comparison, but we�re getting there. Escape from student loan debt is almost impossible and an IVA won�t release people from mortgage debt. There�s still credit card debt, but at least we can now secure that on property (I love that one; we sell an unsecured loan at punitive rates, then secure it! They�d have been better off just getting a secured loan! How stupid are these people?).
So, there�s just the problem of escape through bankruptcy, but I think we can work on that. Friends in government, nudge nudge, wink wink. Give me time�
5) Our friends at Westminster.
Speaking of government, I think our special relationship is going rather well, don�t you? They want a population that feels wealthy even though it isn�t (see number 2 above), that is unlikely to cause trouble (who can afford to go on strike when you have huge debts to service?) and that isn�t educated enough to understand what�s being done to them (have you seen the latest exam results?).
Those are our goals too; it�s a marriage made in heaven. And if they want to rack up even more debt on the population�s behalf, we�re only too happy to oblige.
We do need to be more careful at times, though. Our so-called competitor�s �employment� of that ex-Prime Minister so soon after leaving office was rather rubbing people�s faces in it, don�t you think? A few of the less stupid ones might start to put two and two together.
6) Media
Can we keep the mainstream and financial media �on-side�, thus keeping the population distracted by pointless celebrity gossip, �reality� TV programmes (oh, the irony), diversionary economic scare stories and back-to-back shows extolling the virtues of never-ending asset inflation (and with it, never ending debt)?
Of course we can - we own most of them! And the government owns much of the rest. Anyway, people actually seem to want this stuff. Bread and circuses, I suppose.
7) What happens if we run out of money?
See number 5. There are plenty of options if we ever run into difficulties - direct government �loans� (rolled over ad infinitum), dropping the base rate below real inflation while raising lending rates, etc. - but they all boil down to one thing: take money from the tax-payer while using inflation to mask the theft. With a bit of luck we can even get the public to demand this action for us, with the help of the media.
And anyway, we�re not actually lending real money, are we? It�s created from nothing at the point at which the loan is granted. So what do we have to lose?
I look forward to your reply.
Yours faithfully,
Mr Wanabe A Banker
I am writing to enquire whether you have any vacancies on your strategic board for someone of my talents. I realise that it is a little unorthodox to apply �on spec� for such a high-ranking position within your organisation, but I believe I have the necessary skills to further increase the profits and assets of Big Bank Plc. In this letter I will attempt to demonstrate my knowledge of the challenges and opportunities in our marketplace.
1) Who are our customers?
I understand that our most lucrative customers are those with the least awareness of financial matters; indeed, the less numerate they are, the better. Rather like the dear old PM, in fact.
If they don�t know the difference between APR and AER, if they fail to read the small print in their credit contracts - not that it matters, as I�m sure I have the necessary legal skills to make such text impenetrable - and if their limited attention is grabbed by an �introductory� rate, then they are exactly the kind of people we need to target.
I think that if we closely follow that other highly successful model of commerce - drug dealing - we won�t go far wrong in attracting and retaining the right customer base.
2) How do we get people to take on more debt?
I�ve been thinking about this, since we need people to be in debt so that they pay us lots of interest. I believe the best way is to start with an asset class that everybody needs and arrange for its price to increase by far more than the general inflation rate. Then the people who want to buy the new, over-priced assets will have to take on far more debt than would otherwise have been the case.
Of course, the people who bought the assets prior to the excessive price inflation wouldn�t be in debt, but I think we can get around that by encouraging them to take on larger loans for, say, holidays, new TVs, big cars, that sort of thing (maybe even encouraging them to buy more assets to loan to other people?), all while securing them against the now-increased �value� of their asset. We could describe these loans as �Asset Equity Release� or something; it sounds so much more friendly than �Borrowing a Lot of Money.�
Ultimately this would mean that everyone is in far greater debt, paying us far more money, for exactly the same asset! Genius, eh?
Oh. Hang on. That�s already been done with houses, hasn�t it?
3) Social conscience.
Every responsible company should have a social conscience, and Big Bank Plc is no different. We need to be in tune with the society in which we operate, sharing the values of our customers.
Luckily that�s not too difficult; our customers are greedy and so are we! They want lots of money, right now. We want lots of money, but we can wait (that old �deferred gratification� thing).
So we simply sell them the money to fulfil their greedy dreams, and they sign up for a lifetime of debt slavery to fulfil ours. Everyone�s a winner!
4) Get-out.
I have noticed that some of our customers have been attempting to escape from their obligations through IVAs, bankruptcy and so on. This really won�t do. Luckily we have a role model to follow here; America. The banking industry there successfully lobbied Congress to make it almost impossible to escape from credit card debt, even in bankruptcy.
There�s much work to be done in the UK by comparison, but we�re getting there. Escape from student loan debt is almost impossible and an IVA won�t release people from mortgage debt. There�s still credit card debt, but at least we can now secure that on property (I love that one; we sell an unsecured loan at punitive rates, then secure it! They�d have been better off just getting a secured loan! How stupid are these people?).
So, there�s just the problem of escape through bankruptcy, but I think we can work on that. Friends in government, nudge nudge, wink wink. Give me time�
5) Our friends at Westminster.
Speaking of government, I think our special relationship is going rather well, don�t you? They want a population that feels wealthy even though it isn�t (see number 2 above), that is unlikely to cause trouble (who can afford to go on strike when you have huge debts to service?) and that isn�t educated enough to understand what�s being done to them (have you seen the latest exam results?).
Those are our goals too; it�s a marriage made in heaven. And if they want to rack up even more debt on the population�s behalf, we�re only too happy to oblige.
We do need to be more careful at times, though. Our so-called competitor�s �employment� of that ex-Prime Minister so soon after leaving office was rather rubbing people�s faces in it, don�t you think? A few of the less stupid ones might start to put two and two together.
6) Media
Can we keep the mainstream and financial media �on-side�, thus keeping the population distracted by pointless celebrity gossip, �reality� TV programmes (oh, the irony), diversionary economic scare stories and back-to-back shows extolling the virtues of never-ending asset inflation (and with it, never ending debt)?
Of course we can - we own most of them! And the government owns much of the rest. Anyway, people actually seem to want this stuff. Bread and circuses, I suppose.
7) What happens if we run out of money?
See number 5. There are plenty of options if we ever run into difficulties - direct government �loans� (rolled over ad infinitum), dropping the base rate below real inflation while raising lending rates, etc. - but they all boil down to one thing: take money from the tax-payer while using inflation to mask the theft. With a bit of luck we can even get the public to demand this action for us, with the help of the media.
And anyway, we�re not actually lending real money, are we? It�s created from nothing at the point at which the loan is granted. So what do we have to lose?
I look forward to your reply.
Yours faithfully,
Mr Wanabe A Banker
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Refugee_New
01-06 02:17 PM
Unfortunately Hamas has been using this school as human shield launching missiles against Israel military. You need to consider all acts before accusing Israel of killing innocents.
Hamas must stop their methodology of using innocent civilian homes/schools as launch pads for bombings and they must drop their quest of eliminating a Jewish state. Similarly Israel should recognize Palestine as a separate independent country.
If its true, why media is not showing how Hamas is hiding behind schools and mosques? Its a big lie and this is what they say in order to justify the killing. Also what rockets you are talking about? Those 7000 rockets that killed 4 people? I agree Hamas must stop their mindless and useless rocket attack.
Hamas must stop their methodology of using innocent civilian homes/schools as launch pads for bombings and they must drop their quest of eliminating a Jewish state. Similarly Israel should recognize Palestine as a separate independent country.
If its true, why media is not showing how Hamas is hiding behind schools and mosques? Its a big lie and this is what they say in order to justify the killing. Also what rockets you are talking about? Those 7000 rockets that killed 4 people? I agree Hamas must stop their mindless and useless rocket attack.
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Macaca
05-25 08:17 PM
Cleaning Up Congress (http://www.washingtonpost.com/wp-dyn/content/article/2007/05/24/AR2007052402118.html) The House gives lobbying reform a boost, but the battle is far from over, Friday, May 25, 2007
IT WASN'T EASY, it wasn't pretty and the battle isn't over, but the House managed yesterday to pass a credible ethics bill that would require lobbyists to disclose the bundles of campaign checks they round up for lawmakers. The lopsided 382 to 37 vote belied the ferocious behind-the-scenes opposition to the bundling provision. Few lawmakers were willing to cast a public vote to oppose letting their constituents know what the lawmakers themselves are already keenly aware of: just how much they are indebted to which lobbyists. In private, however, many Democrats fought to prevent the vote. It was only the steadfastness of Speaker Nancy Pelosi (D-Calif.), Caucus Chairman Rahm Emanuel (D-Ill.) and Reps. Chris Van Hollen (D-Md.) and Martin T. Meehan (D-Mass.) that brought the measure to the floor. House Judiciary Committee Chairman John Conyers Jr. (D-Mich.) served a key role in offsetting the opposition of some members of the Congressional Black Caucus.
It's critical now that the bundling provision not be killed in the quiet of a conference committee. The Senate version of lobbying reform contains a slightly different bundling provision, which can easily be reconciled with the House measure.
Other provisions of the bill approved by the House yesterday would provide for more frequent and detailed disclosure, including lobbyists' contributions to lawmakers' charities. To win support for the bundling amendment, reformers had to abandon their effort to double, from one year to two, the cooling-off period for lawmakers and staff who leave the Hill for lobbying jobs. The Senate-passed lobbying bill includes this effort to slow the revolving door. That, too, should be part of the final package. In addition, the work of the House will not be complete until a credible ethics process is in place, one that includes an independent office to assess and investigate allegations of unethical conduct. A Pelosi-appointed task force is expected to come up with a proposal soon. That will be the Democratic majority's next test.
IT WASN'T EASY, it wasn't pretty and the battle isn't over, but the House managed yesterday to pass a credible ethics bill that would require lobbyists to disclose the bundles of campaign checks they round up for lawmakers. The lopsided 382 to 37 vote belied the ferocious behind-the-scenes opposition to the bundling provision. Few lawmakers were willing to cast a public vote to oppose letting their constituents know what the lawmakers themselves are already keenly aware of: just how much they are indebted to which lobbyists. In private, however, many Democrats fought to prevent the vote. It was only the steadfastness of Speaker Nancy Pelosi (D-Calif.), Caucus Chairman Rahm Emanuel (D-Ill.) and Reps. Chris Van Hollen (D-Md.) and Martin T. Meehan (D-Mass.) that brought the measure to the floor. House Judiciary Committee Chairman John Conyers Jr. (D-Mich.) served a key role in offsetting the opposition of some members of the Congressional Black Caucus.
It's critical now that the bundling provision not be killed in the quiet of a conference committee. The Senate version of lobbying reform contains a slightly different bundling provision, which can easily be reconciled with the House measure.
Other provisions of the bill approved by the House yesterday would provide for more frequent and detailed disclosure, including lobbyists' contributions to lawmakers' charities. To win support for the bundling amendment, reformers had to abandon their effort to double, from one year to two, the cooling-off period for lawmakers and staff who leave the Hill for lobbying jobs. The Senate-passed lobbying bill includes this effort to slow the revolving door. That, too, should be part of the final package. In addition, the work of the House will not be complete until a credible ethics process is in place, one that includes an independent office to assess and investigate allegations of unethical conduct. A Pelosi-appointed task force is expected to come up with a proposal soon. That will be the Democratic majority's next test.
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rajuseattle
07-14 08:59 PM
digital2k,
Petition or efforts to recapture wasted VISA numbers is a good effort and I do support that inititiative.
But their seems to be other petition floating around which ignited verbal fighting/arguments between EB-2 and EB-3 indians, that's harmful for the unity of this community (IV).
I was against that petition which was written to Charles oppenheim complaning about the allocation of spill over VISA numbers to EB-2 India and China.
I hope this explains my stand on IV efforts.
Petition or efforts to recapture wasted VISA numbers is a good effort and I do support that inititiative.
But their seems to be other petition floating around which ignited verbal fighting/arguments between EB-2 and EB-3 indians, that's harmful for the unity of this community (IV).
I was against that petition which was written to Charles oppenheim complaning about the allocation of spill over VISA numbers to EB-2 India and China.
I hope this explains my stand on IV efforts.
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nozerd
12-26 05:25 PM
I am no military expert but it seems Pak is concentrating its forces on Punjab border and POK. I wonder why India cant do something unique this time. Like use aircraft carriers to enter Pak territory from Baluchistan and hit Karachi or attack from the South from Gujarat border. Something unique other than just attacking in Punjab/POK. Ofcourse I sure am no strategist, but if someone knows please inform.
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ImmInd
08-05 10:59 AM
My Friend 'Rolling_Flood':
Please remember that EB2 is better than EB3. As someone mentioned, people always want to move up in all activities (work, life, anything).
And, please remember what will happen if you (iff you are in EB2 now) fall down due to some issues in EB2 case documents or filing, etc ? You may start with EB3 again and we will not tell you at that time saying ' you are EB3 guy and low skilled category'. We still feel bad for you.
I have Masters, more then 5 yrs exp (at that time of filing) and EB2 Title - but, my employer has some restrictions which limits them to not file in EB2. I ended up in EB3 :)
I do not intend to attack - but, we are trying to just explain... Again, I am not affended !!! Please read and think before you post something like this...
Please remember that EB2 is better than EB3. As someone mentioned, people always want to move up in all activities (work, life, anything).
And, please remember what will happen if you (iff you are in EB2 now) fall down due to some issues in EB2 case documents or filing, etc ? You may start with EB3 again and we will not tell you at that time saying ' you are EB3 guy and low skilled category'. We still feel bad for you.
I have Masters, more then 5 yrs exp (at that time of filing) and EB2 Title - but, my employer has some restrictions which limits them to not file in EB2. I ended up in EB3 :)
I do not intend to attack - but, we are trying to just explain... Again, I am not affended !!! Please read and think before you post something like this...
chintu25
08-28 09:42 AM
Two immigrants have just arrived in the United States and one says to the other, I hear that the people of this country actually eat dogs.�
�That�s odd,� her companion replies, �but if we are going to live in America, we might as well do as the Americans do.�
Nodding emphatically, one of the immigrants points to a hot dog vendor, and they both walk toward the cart. �Two dogs, please,� she says.
The vendor is only too pleased to oblige, wraps both hot dogs in foil and hands them over the counter. Excited, the companions hurry to a bench and begin to unwrap their �dogs.�
One of them opens the foil and begins to blush. Staring at it for a moment, she turns to her friend and whispers cautiously, �What part did you get?�
;)
�That�s odd,� her companion replies, �but if we are going to live in America, we might as well do as the Americans do.�
Nodding emphatically, one of the immigrants points to a hot dog vendor, and they both walk toward the cart. �Two dogs, please,� she says.
The vendor is only too pleased to oblige, wraps both hot dogs in foil and hands them over the counter. Excited, the companions hurry to a bench and begin to unwrap their �dogs.�
One of them opens the foil and begins to blush. Staring at it for a moment, she turns to her friend and whispers cautiously, �What part did you get?�
;)
unseenguy
06-24 08:27 AM
see my statement yesterday:
Even if I offer current owners 20% less , the math does not make sense for me. Hence I am expecting 30% -35% correction from current expectations of the owners.
Even if I offer current owners 20% less , the math does not make sense for me. Hence I am expecting 30% -35% correction from current expectations of the owners.
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