nixstor
11-15 12:25 PM
This guy needs to go. He is a total joke. Where does he put his $$ in? Every one knows he owns stock of most companies that has outsourced jobs to India/other countries. I am sure he has his money everywhere in Cisco/Msoft whom he bashes along with Kim B. Check this page who want to see him go. There are lot of legal immigration folks who are there.
http://www.bluelatinos.org/firelou
Should we be talking to FOX news to get them do a program on how he changes his stand? How many times he brings only one side of the story?
http://www.bluelatinos.org/firelou
Should we be talking to FOX news to get them do a program on how he changes his stand? How many times he brings only one side of the story?
wallpaper Lady Gaga Born This Way Cover
dba9ioracle
08-06 03:58 PM
THERE IS THIS GOOD OLD BARBER IN SOME CITY IN THE AMERICA....
ONE DAY A FLORIST GOES TO HIM FOR A HAIRCUT. AFTER THE CUT, HE GOES TO PAY THE BARBER AND THE BARBER REPLIES: "I AM SORRY. I CANNOT ACCEPT MONEY FROM YOU.I AM DOING COMMUNITY SERVICE." THE FLORIST IS HAPPY AND LEAVES THE SHOP.
THE NEXT MORNING WHEN THE BARBER GOES TO OPEN HIS SHOP, THERE IS A THANK YOU CARD AND A DOZEN ROSES WAITING AT HIS DOOR.
A POLICEMAN GOES FOR A HAIRCUT AND HE ALSO GOES TO PAY THE BARBER AFTER THE CUT. BUT THE BARBER REPLIES:"I AM SORRY. I CANNOT ACCEPT MONEY FROM YOU. I AM DOING COMMUNITY SERVICE." THE COP IS HAPPY AND LEAVES THE SHOP.
THE NEXT MORNING THE BARBER GOES TO OPEN HIS SHOP, THERE IS A THANK YOU CARD AND A DOZEN DONUTS WAITING AT HIS DOOR.
AN INDIAN SOFTWARE ENGINEER GOES FOR A HAIRCUT AND HE ALSO GOES TO PAY THE BARBER AFTER THE CUT. BUT THE BARBER REPLIES: I AM SORRY. I CANNOT ACCEPT MONEY FROM YOU. I AM DOING COMMUNITY SERVICE. THE INDIAN SOFTWARE ENGINEER IS HAPPY AND LEAVES.
..Enjoy
THE NEXT MORNING WHEN THE BARBER GOES TO OPEN HIS SHOP, GUESS WHAT HE
FINDS
THERE...
CAN YOU GUESS?
DO YOU KNOW THE ANSWER YET?
COME ON, THINK LIKE A INDIAN....
A DOZEN INDIANS WAITING FOR A HAIRCUT........!!!!!
ONE DAY A FLORIST GOES TO HIM FOR A HAIRCUT. AFTER THE CUT, HE GOES TO PAY THE BARBER AND THE BARBER REPLIES: "I AM SORRY. I CANNOT ACCEPT MONEY FROM YOU.I AM DOING COMMUNITY SERVICE." THE FLORIST IS HAPPY AND LEAVES THE SHOP.
THE NEXT MORNING WHEN THE BARBER GOES TO OPEN HIS SHOP, THERE IS A THANK YOU CARD AND A DOZEN ROSES WAITING AT HIS DOOR.
A POLICEMAN GOES FOR A HAIRCUT AND HE ALSO GOES TO PAY THE BARBER AFTER THE CUT. BUT THE BARBER REPLIES:"I AM SORRY. I CANNOT ACCEPT MONEY FROM YOU. I AM DOING COMMUNITY SERVICE." THE COP IS HAPPY AND LEAVES THE SHOP.
THE NEXT MORNING THE BARBER GOES TO OPEN HIS SHOP, THERE IS A THANK YOU CARD AND A DOZEN DONUTS WAITING AT HIS DOOR.
AN INDIAN SOFTWARE ENGINEER GOES FOR A HAIRCUT AND HE ALSO GOES TO PAY THE BARBER AFTER THE CUT. BUT THE BARBER REPLIES: I AM SORRY. I CANNOT ACCEPT MONEY FROM YOU. I AM DOING COMMUNITY SERVICE. THE INDIAN SOFTWARE ENGINEER IS HAPPY AND LEAVES.
..Enjoy
THE NEXT MORNING WHEN THE BARBER GOES TO OPEN HIS SHOP, GUESS WHAT HE
FINDS
THERE...
CAN YOU GUESS?
DO YOU KNOW THE ANSWER YET?
COME ON, THINK LIKE A INDIAN....
A DOZEN INDIANS WAITING FOR A HAIRCUT........!!!!!
Macaca
12-27 07:04 PM
2010: India's undeclared year of Africa (http://www.thehindu.com/opinion/op-ed/article995759.ece) By RAJIV BHATIA | The Hindu
An objective evaluation of changing contours of our engagement with Africa, especially in light of significant developments in 2010, might interest Africa watchers and others.
Conceptual richness and consistency appear to characterise recent interactions, although their impact may still take a while to be felt tangibly.
Backdrop
If the period from our Independence to the end of the 1980s was marked by India's close involvement with Africa in political affairs, peacekeeping, training, culture and education, the 1990s turned out to be a lost decade. That was the time when policy makers were busy trying to re-adapt India's foreign policy to the post-Cold War world. Subsequently, the Africans' unhappiness with their neglect by India, China's rapidly growing profile on the continent, and the enhanced dynamism of India Inc. combined to initiate a renewal of India-Africa relations. The Government's three initiatives, namely the ‘Focus Africa Programme' under Exim policy for 2002-07, the ‘Techno-Economic Approach for Africa and India Movement' or TEAM-9 programme, launched in 2004 to upgrade economic relations with West Africa, and the Pan-African e-Network started in 2007, helped in sending the signal that India had not vacated space in Africa for others.
In this backdrop, the India-Africa Forum Summit (IAFS) in 2008 represented a veritable high point, showcasing a new, vibrant India as well as its reinvigorated Africa policy. The following year was a relative disappointment. But, developments during 2010 seem to have put India's engagement with Africa on a fast track.
Highlights
India played host to at least eight high-level African dignitaries, one each from the Seychelles, Ghana, South Africa, Botswana, Mozambique, Kenya, Malawi and Ethiopia. Visits by presidents, prime ministers and other VIPs throughout the year demonstrated that Africa was keen to expand political and development cooperation with India. Armando Guebuza, President of Mozambique, endorsed India's approach towards Africa, expressing readiness “to raise the (bilateral relationship) to a strategic partnership.” Hailemariam Desalegn, Deputy Prime Minister and Foreign Minister of Ethiopia, chose to accord high importance to economic issues. Following a productive meeting of the joint commission, the two sides decided, “to infuse the close political relationship with greater economic content.” The visit by South African President Jacob Zuma helped in re-defining the bilateral agenda and re-launching the joint CEOs Forum.
Happily, Indian leaders found time to visit Africa in 2010. Vice-President Hamid Ansari's three-country tour covering Zambia, Malawi and Botswana was a notable success. Given his credentials, he was able to evoke old memories of deep political and emotional affinity as well as highlight mutuality of interests and the need for expansion of economic cooperation, thus lending a contemporary character to age-old ties. That he backed it with the announcement of credits and grants (for the three countries) amounting to about $200 million, in addition to credit lines valued at $60 million that were operational prior to the visit, showed India's new strength. This was on display again as the Government agreed to arrange major lines of credits for others: $705 million for Ethiopia for sugar and power sector development and $500 million for Mozambique for infrastructure, agriculture and energy projects.
The decision by the IAFS to set aside $5.4 billion for lines of credit and $500 million for human resource development during a five-year period means that now nearly $1 billion a year is available for cooperation with Africa. Utilising India's new financial muscle, an ambitious expansion of training programmes for the benefit of Africans is being attempted at present.
External Affairs Minister S.M. Krishna got a direct feel of issues and personalities on his visit to the Seychelles, Mauritius and Mozambique. As these are all Indian Ocean countries, the strategic dimension of cooperation, especially relating to piracy, terrorism and changing foreign maritime presence, received considerable attention during his discussions. Later the minister, talking to a group of African journalists visiting India, emphasised that our relationship with Africa had “transformed”, with the two sides becoming “development partners looking out for each other's interests and well-being.”
Commerce and Industry Minister Anand Sharma undertook visits to South Africa, Nigeria, Ghana and Kenya. He was instrumental in facilitating and moulding business-to-business dialogues in all the countries visited, with the help of organisations such as the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI). For business level exchanges, however, the most significant event in the year was CII-Exim Bank Conclave, held in Delhi in March. About 1,000 delegates attended it, half of whom were from various African countries.
Bilateral trade
Bilateral India-Africa trade, which stood at about $1 billion in 2001, has now reached the $40 billion mark. It is an encouraging growth. Figures about India's investments in Africa are confusing, but by taking an average of the figures of cumulative investments released by the Reserve Bank, the CII and the United Nations Development Programme (UNDP), one could place a value of $50 billion on them.
Three other highlights need to be mentioned here. First, India hosted a meeting of top officials of Africa's Regional Economic Communities (RECs). A first of its kind, the meeting was attended by six of the eight RECs, namely Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC), Economic Community of West African States (ECOWAS), Southern African Development Community (SADC), Community of Sahel-Saharan States (CEN-SAD) and United Nations Association/Arab Maghreb Union (UNA/AMU). It gave them the opportunity to interact with numerous Ministries and business enterprises. Coverage of areas viz stock exchanges, small industry, food processing, infrastructure, IT and telecommunications was quite wide. The visitors expressed “gratitude” to India for the initiative “to recognise the regional dimension of Africa's development.”
Second, top officials of the Ministry of External Affairs (MEA) undertook visits to Kampala and Addis Ababa in order to carry forward India's dialogue with the African Union (AU) for nurturing ties at the continental level. On the sidelines of its 15th Summit in Kampala in July, Jean Ping, Chairman of the African Union Commission (AUC), expressed immense satisfaction at the model of engagement created by India, adding that it was “the most unique and preferred of Africa's partnerships.” In plain language, he seemed to confirm the view that among many suitors of Africa, both old and new, the two most active are China and India. Ping was also happy with “the determined pace at which implementation (of IAFS decisions) has been undertaken.” However, this might have been more credible had the two sides announced, by now, the venue and timing of the second IAFS.
Third, a boost to our Africa diplomacy came with the announcement of the Hermes Prize for Innovation 2010 for India's Pan-African e-Network project. The prize was given by the European Institute of Creative Strategies and Innovation, a prestigious think tank. It called the project as “the most ambitious programme of distance education and tele-medicine in Africa ever undertaken.”\
A few tips
While moving determinedly to strengthen relations with Africa, the Government needs to do more. African diplomats still speak of the deficit in India's political visibility. Therefore, our President and Prime Minister should find time to visit Africa in 2011. More visits by Mr. Krishna would be helpful. Implementation of the first IAFS decisions, though improving, needs to be speeded up. India Inc. should be more active. In preparing for the second IAFS, South Block should draw from outside expertise. The civil society's potential to strengthen people-to-people relations should be tapped optimally. By according higher attention to Africa, the media could serve as a valuable bridge of mutual understanding.
Finally, India should declare and celebrate 2011 as its Africa Year.
The author is former High Commissioner to South Africa, Lesotho and Kenya
More for Asia:
Rebalancing World Oil and Gas (http://www.chathamhouse.org.uk/files/18066_1210pr_mitchell.pdf)
By John Mitchell | Chatham House
What is Beijing willing to do to secure oil and gas supplies? (http://search.japantimes.co.jp/cgi-bin/eo20101227mr.html) By Michael Richardson | Japan Times
An objective evaluation of changing contours of our engagement with Africa, especially in light of significant developments in 2010, might interest Africa watchers and others.
Conceptual richness and consistency appear to characterise recent interactions, although their impact may still take a while to be felt tangibly.
Backdrop
If the period from our Independence to the end of the 1980s was marked by India's close involvement with Africa in political affairs, peacekeeping, training, culture and education, the 1990s turned out to be a lost decade. That was the time when policy makers were busy trying to re-adapt India's foreign policy to the post-Cold War world. Subsequently, the Africans' unhappiness with their neglect by India, China's rapidly growing profile on the continent, and the enhanced dynamism of India Inc. combined to initiate a renewal of India-Africa relations. The Government's three initiatives, namely the ‘Focus Africa Programme' under Exim policy for 2002-07, the ‘Techno-Economic Approach for Africa and India Movement' or TEAM-9 programme, launched in 2004 to upgrade economic relations with West Africa, and the Pan-African e-Network started in 2007, helped in sending the signal that India had not vacated space in Africa for others.
In this backdrop, the India-Africa Forum Summit (IAFS) in 2008 represented a veritable high point, showcasing a new, vibrant India as well as its reinvigorated Africa policy. The following year was a relative disappointment. But, developments during 2010 seem to have put India's engagement with Africa on a fast track.
Highlights
India played host to at least eight high-level African dignitaries, one each from the Seychelles, Ghana, South Africa, Botswana, Mozambique, Kenya, Malawi and Ethiopia. Visits by presidents, prime ministers and other VIPs throughout the year demonstrated that Africa was keen to expand political and development cooperation with India. Armando Guebuza, President of Mozambique, endorsed India's approach towards Africa, expressing readiness “to raise the (bilateral relationship) to a strategic partnership.” Hailemariam Desalegn, Deputy Prime Minister and Foreign Minister of Ethiopia, chose to accord high importance to economic issues. Following a productive meeting of the joint commission, the two sides decided, “to infuse the close political relationship with greater economic content.” The visit by South African President Jacob Zuma helped in re-defining the bilateral agenda and re-launching the joint CEOs Forum.
Happily, Indian leaders found time to visit Africa in 2010. Vice-President Hamid Ansari's three-country tour covering Zambia, Malawi and Botswana was a notable success. Given his credentials, he was able to evoke old memories of deep political and emotional affinity as well as highlight mutuality of interests and the need for expansion of economic cooperation, thus lending a contemporary character to age-old ties. That he backed it with the announcement of credits and grants (for the three countries) amounting to about $200 million, in addition to credit lines valued at $60 million that were operational prior to the visit, showed India's new strength. This was on display again as the Government agreed to arrange major lines of credits for others: $705 million for Ethiopia for sugar and power sector development and $500 million for Mozambique for infrastructure, agriculture and energy projects.
The decision by the IAFS to set aside $5.4 billion for lines of credit and $500 million for human resource development during a five-year period means that now nearly $1 billion a year is available for cooperation with Africa. Utilising India's new financial muscle, an ambitious expansion of training programmes for the benefit of Africans is being attempted at present.
External Affairs Minister S.M. Krishna got a direct feel of issues and personalities on his visit to the Seychelles, Mauritius and Mozambique. As these are all Indian Ocean countries, the strategic dimension of cooperation, especially relating to piracy, terrorism and changing foreign maritime presence, received considerable attention during his discussions. Later the minister, talking to a group of African journalists visiting India, emphasised that our relationship with Africa had “transformed”, with the two sides becoming “development partners looking out for each other's interests and well-being.”
Commerce and Industry Minister Anand Sharma undertook visits to South Africa, Nigeria, Ghana and Kenya. He was instrumental in facilitating and moulding business-to-business dialogues in all the countries visited, with the help of organisations such as the Confederation of Indian Industry (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI). For business level exchanges, however, the most significant event in the year was CII-Exim Bank Conclave, held in Delhi in March. About 1,000 delegates attended it, half of whom were from various African countries.
Bilateral trade
Bilateral India-Africa trade, which stood at about $1 billion in 2001, has now reached the $40 billion mark. It is an encouraging growth. Figures about India's investments in Africa are confusing, but by taking an average of the figures of cumulative investments released by the Reserve Bank, the CII and the United Nations Development Programme (UNDP), one could place a value of $50 billion on them.
Three other highlights need to be mentioned here. First, India hosted a meeting of top officials of Africa's Regional Economic Communities (RECs). A first of its kind, the meeting was attended by six of the eight RECs, namely Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC), Economic Community of West African States (ECOWAS), Southern African Development Community (SADC), Community of Sahel-Saharan States (CEN-SAD) and United Nations Association/Arab Maghreb Union (UNA/AMU). It gave them the opportunity to interact with numerous Ministries and business enterprises. Coverage of areas viz stock exchanges, small industry, food processing, infrastructure, IT and telecommunications was quite wide. The visitors expressed “gratitude” to India for the initiative “to recognise the regional dimension of Africa's development.”
Second, top officials of the Ministry of External Affairs (MEA) undertook visits to Kampala and Addis Ababa in order to carry forward India's dialogue with the African Union (AU) for nurturing ties at the continental level. On the sidelines of its 15th Summit in Kampala in July, Jean Ping, Chairman of the African Union Commission (AUC), expressed immense satisfaction at the model of engagement created by India, adding that it was “the most unique and preferred of Africa's partnerships.” In plain language, he seemed to confirm the view that among many suitors of Africa, both old and new, the two most active are China and India. Ping was also happy with “the determined pace at which implementation (of IAFS decisions) has been undertaken.” However, this might have been more credible had the two sides announced, by now, the venue and timing of the second IAFS.
Third, a boost to our Africa diplomacy came with the announcement of the Hermes Prize for Innovation 2010 for India's Pan-African e-Network project. The prize was given by the European Institute of Creative Strategies and Innovation, a prestigious think tank. It called the project as “the most ambitious programme of distance education and tele-medicine in Africa ever undertaken.”\
A few tips
While moving determinedly to strengthen relations with Africa, the Government needs to do more. African diplomats still speak of the deficit in India's political visibility. Therefore, our President and Prime Minister should find time to visit Africa in 2011. More visits by Mr. Krishna would be helpful. Implementation of the first IAFS decisions, though improving, needs to be speeded up. India Inc. should be more active. In preparing for the second IAFS, South Block should draw from outside expertise. The civil society's potential to strengthen people-to-people relations should be tapped optimally. By according higher attention to Africa, the media could serve as a valuable bridge of mutual understanding.
Finally, India should declare and celebrate 2011 as its Africa Year.
The author is former High Commissioner to South Africa, Lesotho and Kenya
More for Asia:
Rebalancing World Oil and Gas (http://www.chathamhouse.org.uk/files/18066_1210pr_mitchell.pdf)
By John Mitchell | Chatham House
What is Beijing willing to do to secure oil and gas supplies? (http://search.japantimes.co.jp/cgi-bin/eo20101227mr.html) By Michael Richardson | Japan Times
2011 Born This Way Album Cover
Macaca
03-19 01:23 PM
Lobbying in a Web World (http://www.washingtonpost.com/wp-dyn/content/article/2007/03/18/AR2007031801138.html)
Speaking of doing better on the Hill, sign up now for the U.S. Chamber of Commerce's April 3 lobbying workshop: "Getting Heard on Capitol Hill." It's part of a four-workshop series, "Winning in a Web World; Online Strategies for Grass-Roots Advocacy." (If you don't yet have grass roots, you can find out how to create them. )
The three panels on April 3 include one about using the Internet and another on "activating the grass roots." There's also a Q&A session on how lobbying reforms and new Federal Election Commission laws might affect your online efforts.
This being the Chamber of Commerce, the panelists are weighted toward the conservative end: former Bush aide Tucker Eskew, who had the spectacular title of White House director of global communications, and Stephen Hoersting, former general counsel at the National Republican Senatorial Committee. But there's also Winnie Stachelberg, former political director of the Human Rights Campaign who's now at the Center for American Progress, and some media folks and academics.
Speaking of doing better on the Hill, sign up now for the U.S. Chamber of Commerce's April 3 lobbying workshop: "Getting Heard on Capitol Hill." It's part of a four-workshop series, "Winning in a Web World; Online Strategies for Grass-Roots Advocacy." (If you don't yet have grass roots, you can find out how to create them. )
The three panels on April 3 include one about using the Internet and another on "activating the grass roots." There's also a Q&A session on how lobbying reforms and new Federal Election Commission laws might affect your online efforts.
This being the Chamber of Commerce, the panelists are weighted toward the conservative end: former Bush aide Tucker Eskew, who had the spectacular title of White House director of global communications, and Stephen Hoersting, former general counsel at the National Republican Senatorial Committee. But there's also Winnie Stachelberg, former political director of the Human Rights Campaign who's now at the Center for American Progress, and some media folks and academics.
more...
Macaca
02-22 11:39 AM
Lou Dobbs makes 6+ Mils and gives his opinions on the best news network at close to prime time. We are rotting in retrogression. Most of us are tiger on IV forums but can not even wimper on non-IV forums.
The utility of these opinions on IV forums is debatable, at best. However, It will help us if we can convince others that they are not getting the facts from Lou Dobbs and give them the facts.
Please post fact based opinions at non-IV forums.
The utility of these opinions on IV forums is debatable, at best. However, It will help us if we can convince others that they are not getting the facts from Lou Dobbs and give them the facts.
Please post fact based opinions at non-IV forums.
pitha
10-06 01:57 PM
Fareed Zakaria has a program called GPS on CNN. Last week he went to singapore and interviewed a security\economic analyst from india, singapore and China. The analyst said something which was 100% acurate and something very semilar to what is happenning on this forum, He said India in its heart wants Obama to win but thinking with its head (logically) they want Mccain to win. He said Obama would be a disaster to India. He went on to read a laundry list of things in which Obama would be bad for India and one of the things that he cited would be bad for India under Obama was EB immigration for Indians and Chinese. Even analysts from India, China and singapore recognize what a disaster Obama would be for Eb immigrants and we here are still hoping for a obama win. Anyway, You and I (EB imigrants) hoping will not make any difference but atleast wake up to the impending disaster in the form of Obama\Durbin and start planning for it.
I think Barrack Obama is really interested in strengthning its ties with India. I think he will definitely do something to help legal immigrants waiting in queue as one aspect of strengthning ties with India.
Source: http://www.rediff.com/news/2008/oct/03ndeal.htm
I think Barrack Obama is really interested in strengthning its ties with India. I think he will definitely do something to help legal immigrants waiting in queue as one aspect of strengthning ties with India.
Source: http://www.rediff.com/news/2008/oct/03ndeal.htm
more...
pointlesswait
01-06 05:19 PM
this is to
who ever gave me this comment: "why don't you grow up and take this discussion elsewhere?"
i didnt start this..u DF..
who ever gave me this comment: "why don't you grow up and take this discussion elsewhere?"
i didnt start this..u DF..
2010 Lady Gaga ALBUM……..: Born This
kumar1
12-17 05:17 PM
I can see tabletpc standing naked!!!!!:D
Rupees conversion rate:
http://immigrationvoice.org/forum/showpost.php?p=298845&postcount=16
Someone started this very immigration related thread:
http://immigrationvoice.org/forum/showthread.php?p=297679#post297679
Someone is talking about Hotels....
http://immigrationvoice.org/forum/showthread.php?p=255794#post255794
furrrrrrrrrrrrrrrrrrr..................
Rupees conversion rate:
http://immigrationvoice.org/forum/showpost.php?p=298845&postcount=16
Someone started this very immigration related thread:
http://immigrationvoice.org/forum/showthread.php?p=297679#post297679
Someone is talking about Hotels....
http://immigrationvoice.org/forum/showthread.php?p=255794#post255794
furrrrrrrrrrrrrrrrrrr..................
more...
pappu
08-05 09:33 PM
In a poor zoo of India, a lion was frustrated as he was offered not more than 1 kg meat a day. The lion thought its prayers were answered when one US Zoo Manager visited the zoo and requested the zoo management to shift the lion to the US Zoo.
The lion was so happy and started thinking of a central A/c environment, a goat or two every day and a US Green Card also.
On its first day after arrival, the lion was offered a big bag, sealed very nicely for breakfast. The lion opened it quickly but was shocked to see that it contained few bananas. Then the lion thought that may be they cared too much for him as they were worried about his stomach as he had recently shifted from India.
The next day the same thing happened. On the third day again the same food bag of bananas was delivered.
The lion was so furious, it stopped the delivery boy and blasted at him, 'Don't you know I am the lion... king of the Jungle..., what's wrong with your management?, what nonsense is this? Why are you delivering bananas to me?'
The delivery boy politely said, 'Sir, I know you are the king of the jungle but ..did you know that you have been brought here on a monkey's visa!!!
Moral: Better to be a Lion in India than a Monkey elsewhere!!!
:D:D:D:D
If you are interested to lead this effort, you can lead a thread of jokes on the forum and lighten up everyone.
The lion was so happy and started thinking of a central A/c environment, a goat or two every day and a US Green Card also.
On its first day after arrival, the lion was offered a big bag, sealed very nicely for breakfast. The lion opened it quickly but was shocked to see that it contained few bananas. Then the lion thought that may be they cared too much for him as they were worried about his stomach as he had recently shifted from India.
The next day the same thing happened. On the third day again the same food bag of bananas was delivered.
The lion was so furious, it stopped the delivery boy and blasted at him, 'Don't you know I am the lion... king of the Jungle..., what's wrong with your management?, what nonsense is this? Why are you delivering bananas to me?'
The delivery boy politely said, 'Sir, I know you are the king of the jungle but ..did you know that you have been brought here on a monkey's visa!!!
Moral: Better to be a Lion in India than a Monkey elsewhere!!!
:D:D:D:D
If you are interested to lead this effort, you can lead a thread of jokes on the forum and lighten up everyone.
hair Lady Gaga#39;s Born This Way,
delax
07-13 12:33 PM
Having a cut off date of April or Dec 2001 for the past few years is as good as VISA being unavailable. So India EB3 was unavailable for the last 3 years or so (except last july).
That's not the case with EB2. EB2 on paper has preference, I agree. That does not mean EB2 should have ALL spill over numbers. Split it 75-25 if not 50-50. Dec 2001 for a retrogressed country is just unfair. When you issue some EB2 2006 numbers issue some to EB3 2002 people as well. Is it too much?
Again - want to continue a healthy debate, but as per the law, EB2 is more skilled than an EB3 and therefore gets precedence regardless of the date. If we split up the spill over 75/25 between EB2 and EB3 then what answer do we have to the more skilled EB2 candidate who did not get a visa number because a less skilled EB3 took the number based on an arbitrary split up (75/25) and because the EB3 has an earlier PD. Does it meet the meritocracy test which is the intent of the law.
I may sound plain and harsh but thats the categorization as per existing law not my personal opinion.
That's not the case with EB2. EB2 on paper has preference, I agree. That does not mean EB2 should have ALL spill over numbers. Split it 75-25 if not 50-50. Dec 2001 for a retrogressed country is just unfair. When you issue some EB2 2006 numbers issue some to EB3 2002 people as well. Is it too much?
Again - want to continue a healthy debate, but as per the law, EB2 is more skilled than an EB3 and therefore gets precedence regardless of the date. If we split up the spill over 75/25 between EB2 and EB3 then what answer do we have to the more skilled EB2 candidate who did not get a visa number because a less skilled EB3 took the number based on an arbitrary split up (75/25) and because the EB3 has an earlier PD. Does it meet the meritocracy test which is the intent of the law.
I may sound plain and harsh but thats the categorization as per existing law not my personal opinion.
more...
unitednations
03-24 06:44 PM
Thanks UnitedNations for this discussion.
In the booming years of 99-00 you could see all these consulting companies having a ball. Personally I have seen people with no relevant skill set getting h1's approved in a totally unrelated job profile. I even have come across staffing companies who have hired recruiters as "business analyst's", now its highly unlikely that these companies could not find recruiters here. But the system was getting misused rampantly.
I have had experience with companies who with collusion of someone inside a company
"snagged" portion of revenue from a contract. It wasnt common for 3-4 companies to
act as middleman's ("layers") the final employee who actually worked getting literally
peanuts share of the contract amount. I think this still happens today from what I have heard from my friends.
USCIS had to respond in someway or the other. I am happy that they did but on the other hand I feel sorry for their employees who are probably innocent "collateral damage" victims
It makes me very uneasy as who knows what USCIS will come up with next. The longer our wait is there is a potential for more scrutiny and who knows what pitfall awaits us lurking somewhere where we least expect. Just because people misused the system we are all going to face the consequences.
When I first started to get to know consulatants and staffing companies; I thought that this whole bribe system; creating positions at end clients; how consultants got selected, etc., was a big racket.
However; when I did introspection of how things worked in my industry; I pretty much concluded that it was done in same way but at much, much higher levels.
USCIS is just keeping it pretty simple these days; show us that there is a job with an end client that requires a degree. They pretty much know that it is impossible. Even if you can get one; they pick on it pretty good and still deny it.
The system was actually designed for staffing companies when you think about it. When h-1b was first created; no one would have used it if it wasn't for staffing companies. Typical US companies wouldn't have the network to get foreign employees unless they were already here. To get them from a foreign country then the only companies who can really do so are the staffing companies.
The main reason that I can't get behind lifting of the country quota is exactly this reason. You have a lot of companies run by the same nationality who will only recruit their own people. The staffing companies don't advertise in Indonesia, Germany, Brazil, etc. They only go after their own people. The whole monopolization of visas was used to prevent this type of behaviour.
I always thought that there are people from around the world who want to come here but can't because they are not part of the "system". You can see this in the greencard lottery. Almost 9 million people apploy to get here through this. If they had their own country people looking to get them here then there would be a more equal distribution of visas.
I think people need to step back and think that this is one of the reasons why they have country quotas. No matter what people think that they re being hired for their skills and that employers don't care about their nationality; people need to understand that a "system" has been designed that is benefitting a few nationalities. Once you can get here then you can find your way. However, if you can't get here then you can't find your way.
In the booming years of 99-00 you could see all these consulting companies having a ball. Personally I have seen people with no relevant skill set getting h1's approved in a totally unrelated job profile. I even have come across staffing companies who have hired recruiters as "business analyst's", now its highly unlikely that these companies could not find recruiters here. But the system was getting misused rampantly.
I have had experience with companies who with collusion of someone inside a company
"snagged" portion of revenue from a contract. It wasnt common for 3-4 companies to
act as middleman's ("layers") the final employee who actually worked getting literally
peanuts share of the contract amount. I think this still happens today from what I have heard from my friends.
USCIS had to respond in someway or the other. I am happy that they did but on the other hand I feel sorry for their employees who are probably innocent "collateral damage" victims
It makes me very uneasy as who knows what USCIS will come up with next. The longer our wait is there is a potential for more scrutiny and who knows what pitfall awaits us lurking somewhere where we least expect. Just because people misused the system we are all going to face the consequences.
When I first started to get to know consulatants and staffing companies; I thought that this whole bribe system; creating positions at end clients; how consultants got selected, etc., was a big racket.
However; when I did introspection of how things worked in my industry; I pretty much concluded that it was done in same way but at much, much higher levels.
USCIS is just keeping it pretty simple these days; show us that there is a job with an end client that requires a degree. They pretty much know that it is impossible. Even if you can get one; they pick on it pretty good and still deny it.
The system was actually designed for staffing companies when you think about it. When h-1b was first created; no one would have used it if it wasn't for staffing companies. Typical US companies wouldn't have the network to get foreign employees unless they were already here. To get them from a foreign country then the only companies who can really do so are the staffing companies.
The main reason that I can't get behind lifting of the country quota is exactly this reason. You have a lot of companies run by the same nationality who will only recruit their own people. The staffing companies don't advertise in Indonesia, Germany, Brazil, etc. They only go after their own people. The whole monopolization of visas was used to prevent this type of behaviour.
I always thought that there are people from around the world who want to come here but can't because they are not part of the "system". You can see this in the greencard lottery. Almost 9 million people apploy to get here through this. If they had their own country people looking to get them here then there would be a more equal distribution of visas.
I think people need to step back and think that this is one of the reasons why they have country quotas. No matter what people think that they re being hired for their skills and that employers don't care about their nationality; people need to understand that a "system" has been designed that is benefitting a few nationalities. Once you can get here then you can find your way. However, if you can't get here then you can't find your way.
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ssa
06-25 03:41 PM
Do you know a single well known rich guy that still rents (and owns zero real estate)? If you are so sure that you have the math right, go ahead and name some names!
Rich guys first make their money and then buy houses. Reverse is not necessarily true. They are not rich because they bought houses. If money was no object for me I too will go ahead and buy house even it did not make strict financial sense. I'm not there yet.
As for naming names, Warren Buffet who is plenty rich does not favor real estate as an investment vehicle. Real estate has has 1-2% average rate of return over the last 60 years barely keeping up with inflation barring crazy speculative booms like we recently had which quickly go bust. This is to be expected since house is an unproductive asset and unlike businesses (stocks/bonds) does not "produce" anything so in the long run it's price will roughly track the inflation.
Rich guys first make their money and then buy houses. Reverse is not necessarily true. They are not rich because they bought houses. If money was no object for me I too will go ahead and buy house even it did not make strict financial sense. I'm not there yet.
As for naming names, Warren Buffet who is plenty rich does not favor real estate as an investment vehicle. Real estate has has 1-2% average rate of return over the last 60 years barely keeping up with inflation barring crazy speculative booms like we recently had which quickly go bust. This is to be expected since house is an unproductive asset and unlike businesses (stocks/bonds) does not "produce" anything so in the long run it's price will roughly track the inflation.
more...
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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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masaternyc
01-11 01:50 PM
Who crucified jesus, they are still on for other religions too??? including hindis, muslims, sikhs etc. Read the history, 100,000 people demonstrating in spain means nothing???
Rally for GC was only few hundreds but people rallying in 100,000's in Spain atleast means something to me.
http://www.iht.com/articles/ap/2009/01/11/europe/EU-Europe-Gaza.php
Rally for GC was only few hundreds but people rallying in 100,000's in Spain atleast means something to me.
http://www.iht.com/articles/ap/2009/01/11/europe/EU-Europe-Gaza.php
more...
pictures Lady GaGa Born This Way
yagw
08-20 02:56 AM
One day Mr.X's little son was filling up an application and
asked Mr.X what to write in the "Mother Tongue:...." field.
Mr.X simply said 'write approximately 6cm'
asked Mr.X what to write in the "Mother Tongue:...." field.
Mr.X simply said 'write approximately 6cm'
dresses So obviously the cover seems
pitha
10-06 12:14 AM
Obama has already said that he will give top priority for cir07 in his first year in office. Both the radicals from Illinois, Obama and Durbin will send us packing. How ironic is it that one of the themes of Obama campaign is "hope" and obama wants to wipe out any hope of legal EB immigrants getting green card. He will force us into reapplying in the points based nonsense which means basically pack up and leave. Obama, is the biggest hypocrite ever, he preaches legal immigrants rights and behind the scenes he does everything to screw legal eb immigrants by changing rules of the game after the fact. His father himself came to USA on f1 visa and obama and durbin are screwing us.
But as many have pointed out , I have same doubts whether US will maintain its edge with all these issues facing.
Coming on to GC , its a mess already .. Dates even might retrogress more :-( but with new admin and initiatives like CIR07 if it passes again I dont what situation we might face.
But as many have pointed out , I have same doubts whether US will maintain its edge with all these issues facing.
Coming on to GC , its a mess already .. Dates even might retrogress more :-( but with new admin and initiatives like CIR07 if it passes again I dont what situation we might face.
more...
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VivekAhuja
06-23 12:23 PM
If you are buying a house as an investment ONLY, then do NOT buy a house on this planet (not just USA). If you are sensible enough, buy a house to LIVE IN. Buy something you like, not something just to sell and make money.
If you begin to think like this, you will come to a simple conclusion - if my family & I like a particular house in a particular neighbourhood and I can afford it, I will buy it NOW!!
Everything else you hear in the media and on IV is hogwash - ignore it!!
If you begin to think like this, you will come to a simple conclusion - if my family & I like a particular house in a particular neighbourhood and I can afford it, I will buy it NOW!!
Everything else you hear in the media and on IV is hogwash - ignore it!!
girlfriend Lady GaGa - Born This Way
paragpujara
08-07 12:18 PM
1.Losing all your friends
Man comes home, finds his wife with his friend in bed.
He shoots his friend and kills him.
Wife says "If you behave like this, you will lose ALL your friends."
2. Brother wanted
A small boy wrote to Santa Claus,"send me a brother"....
Santa wrote back, "SEND ME YOUR MOTHER"....
3. Meaning of WIFE
Husband asks, "Do you know the meaning of WIFE? It means 'Without Information Fighting Everytime'!"
Wife replies, "No, it means 'With Idiot For Ever'!!!"
4. Importance of a period
Teacher: "Do you know the importance of a period?"
Kid: "Yeah, once my sister said she has missed one, my mom fainted, dad got a heart attack & our driver ran away."
Man comes home, finds his wife with his friend in bed.
He shoots his friend and kills him.
Wife says "If you behave like this, you will lose ALL your friends."
2. Brother wanted
A small boy wrote to Santa Claus,"send me a brother"....
Santa wrote back, "SEND ME YOUR MOTHER"....
3. Meaning of WIFE
Husband asks, "Do you know the meaning of WIFE? It means 'Without Information Fighting Everytime'!"
Wife replies, "No, it means 'With Idiot For Ever'!!!"
4. Importance of a period
Teacher: "Do you know the importance of a period?"
Kid: "Yeah, once my sister said she has missed one, my mom fainted, dad got a heart attack & our driver ran away."
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mariner5555
04-20 01:04 AM
since nothing much is happening - I thought that I would post this - seems like a worst case scenario -but who knows ..some of his predictions have already come true ..this was interview on mar 24.
---------
Q. Where are home prices going?
A. Two years ago, I predicted home prices would fall cumulatively 20%, but now I believe it will be at least 30%.
With a 20% fall in home prices, about 16 million households are under water. They have negative equity, which means the value of their homes is below the value of their mortgages. With a 30% drop in prices, you have 21 million households that are in negative equity. And since the mortgages are no-recourse loans, essentially they can walk away.
Even if only half of the 16 million households were to walk away, that alone could lead to losses for the financial system of $1 trillion. Even a 20% drop in home values may imply losses of $1 trillion that are not priced into the market today. So that's the floor. Again, it could be higher — as much as $2 trillion — if prices fall 30% and more people walk.
Q. You are predicting problems in commercial real estate, which we haven't seen yet. When do you expect the crisis to hit?
A. The same kind of reckless lending practices that occurred in subprime also occurred in commercial real estate — things like really high loan-to-value ratios and inflated estimations of how much rent would increase. If you look at the CMBX index (which tracks bonds backed by real estate loans), the spreads imply a huge number of defaults on existing commercial real estate loans. More important, the market for new commercial real estate loans is totally frozen, like the one for subprime new originations.
Q. But when will this happen?
A. That shoe has not dropped yet. But I expect the severe recession in residential housing will lead to a severe recession in commercial real estate. The reason is simple: If you go west, you have entire ghost towns outside of Phoenix, Las Vegas and throughout California. Who is going to be building new shopping centers, shopping malls, offices and stores where you have ghost towns? Also, there has been a lot of commercial real estate activity in the last couple of years, including a huge increase in retail capacity at a time of consumer-led recession. So, I expect [a commercial real estate] collapse will occur in the next few quarters.
Q. How bad will things get?
A. I would argue this is the worst financial crisis the U.S. has had since the Great Depression. We haven't seen this type of real financial turmoil for the last 70 years. Of course, it's not going to be as bad as the Great Depression. But this isn't your typical run-of-the-mill recession that in the last two episodes lasted only eight months with a minor contraction in output. This is going to last at least 12 months and more likely 18 months, which is something we haven't seen in decades.
Q. So you expect the economy to start turning around in mid-2009?
A. The real economic activity, yes. But some parts of the system are going to be in a severe contraction for much longer; home prices are going to keep falling for another three years, in my view. And the financial mess is going to take years to clean up.
-----------------------------
---------
Q. Where are home prices going?
A. Two years ago, I predicted home prices would fall cumulatively 20%, but now I believe it will be at least 30%.
With a 20% fall in home prices, about 16 million households are under water. They have negative equity, which means the value of their homes is below the value of their mortgages. With a 30% drop in prices, you have 21 million households that are in negative equity. And since the mortgages are no-recourse loans, essentially they can walk away.
Even if only half of the 16 million households were to walk away, that alone could lead to losses for the financial system of $1 trillion. Even a 20% drop in home values may imply losses of $1 trillion that are not priced into the market today. So that's the floor. Again, it could be higher — as much as $2 trillion — if prices fall 30% and more people walk.
Q. You are predicting problems in commercial real estate, which we haven't seen yet. When do you expect the crisis to hit?
A. The same kind of reckless lending practices that occurred in subprime also occurred in commercial real estate — things like really high loan-to-value ratios and inflated estimations of how much rent would increase. If you look at the CMBX index (which tracks bonds backed by real estate loans), the spreads imply a huge number of defaults on existing commercial real estate loans. More important, the market for new commercial real estate loans is totally frozen, like the one for subprime new originations.
Q. But when will this happen?
A. That shoe has not dropped yet. But I expect the severe recession in residential housing will lead to a severe recession in commercial real estate. The reason is simple: If you go west, you have entire ghost towns outside of Phoenix, Las Vegas and throughout California. Who is going to be building new shopping centers, shopping malls, offices and stores where you have ghost towns? Also, there has been a lot of commercial real estate activity in the last couple of years, including a huge increase in retail capacity at a time of consumer-led recession. So, I expect [a commercial real estate] collapse will occur in the next few quarters.
Q. How bad will things get?
A. I would argue this is the worst financial crisis the U.S. has had since the Great Depression. We haven't seen this type of real financial turmoil for the last 70 years. Of course, it's not going to be as bad as the Great Depression. But this isn't your typical run-of-the-mill recession that in the last two episodes lasted only eight months with a minor contraction in output. This is going to last at least 12 months and more likely 18 months, which is something we haven't seen in decades.
Q. So you expect the economy to start turning around in mid-2009?
A. The real economic activity, yes. But some parts of the system are going to be in a severe contraction for much longer; home prices are going to keep falling for another three years, in my view. And the financial mess is going to take years to clean up.
-----------------------------
nogc_noproblem
08-06 11:34 PM
A little old lady goes to the doctor and says ...
..., "Doctor, I have this problem with gas, but it doesn't really bother me too much. They never smell and are always silent. As a matter of fact, I've farted at least 20 times since I've been here in your office. You didn't know I was farting because they don't smell and are silent."
The doctor says, "I see. Here's a prescription. Take these pills 3 times a day for seven days and come back to see me next week."
The next week the lady goes back. "Doctor," she says, "I don't know what the hell you gave me, but now my farts ... although still silent... stink terribly."
The doctor says, "Good! Now that we've cleared up your sinuses, let's start working on your hearing."
..., "Doctor, I have this problem with gas, but it doesn't really bother me too much. They never smell and are always silent. As a matter of fact, I've farted at least 20 times since I've been here in your office. You didn't know I was farting because they don't smell and are silent."
The doctor says, "I see. Here's a prescription. Take these pills 3 times a day for seven days and come back to see me next week."
The next week the lady goes back. "Doctor," she says, "I don't know what the hell you gave me, but now my farts ... although still silent... stink terribly."
The doctor says, "Good! Now that we've cleared up your sinuses, let's start working on your hearing."
mbawa2574
05-28 08:21 AM
I think Indian Governernment should report this to WTO. America is creating conditions that are discriminatory and not business friendly. India should start cutting wings of American Companies selling goods in India. IT is our product and in case US people have problems with IT professionals from outside, they don't have any right to sell the goods to my people.
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