GCBy3000
01-18 03:06 PM
I dont understand where they will deport you if you do not have any immigration documents? By default to mexico?... :) This office does not know anything...
Well, this is NOT a cooked up story. This happened to me yesterday at Harlingen (HRL) Texas airport.
On January 16, 2008, I went to Mexico for H1-B visa stamping at Matamoras US consulate. I got my H1-B visa stamped and returned to Brownville, Texas.
On January 17, 2008, I was at Harlingen (HRL), Texas airport for my final destination.
One of the TSA security personnel�s is in process of verifying my ticket before proceeding to security check. As every one knows, we must present one of the government issued PHOTO-ID to them to clear the security check. I have shown my driver license and he has cleared the security check (name check).
I was about to proceed further for security screening; mean while, a Police Officer came to me and asked me following questions.
Sir, are you a US citizen?
I said, No
Then, he asked me, can I see your immigration documents.
I have shown my passport to the police officer.
He looked at H1-B visa and I-94 and asked me; who do you work for?
I said my employer�s name.
Later, he gave me my passport back.
Now,
I have asked the Police Officer few questions
1. Sir, I�m in domestic traveling, is it mandatory to carry my immigration documents at all times?
Police Officer said, as per the US LAW, all non-immigrants must carry immigration documents and passport at all times.
2. What would you have done to me, if I had failed to present my passport?
Police office said, I could have DEPORTED you.
3. Sir, it is not possible for any one to carry passport at all times. Could the LAW allow me to carry photo copies of my passport and immigrations documents?
Police office said, No. Technically, you must carry original documents at all times.
I would advice you to carry Passport at all times.
I did not know this until Police Officer told me about this LAW.
P.S: BTW, the Department of Homeland Security (DHS) level is in �ORGANE�.
Well, this is NOT a cooked up story. This happened to me yesterday at Harlingen (HRL) Texas airport.
On January 16, 2008, I went to Mexico for H1-B visa stamping at Matamoras US consulate. I got my H1-B visa stamped and returned to Brownville, Texas.
On January 17, 2008, I was at Harlingen (HRL), Texas airport for my final destination.
One of the TSA security personnel�s is in process of verifying my ticket before proceeding to security check. As every one knows, we must present one of the government issued PHOTO-ID to them to clear the security check. I have shown my driver license and he has cleared the security check (name check).
I was about to proceed further for security screening; mean while, a Police Officer came to me and asked me following questions.
Sir, are you a US citizen?
I said, No
Then, he asked me, can I see your immigration documents.
I have shown my passport to the police officer.
He looked at H1-B visa and I-94 and asked me; who do you work for?
I said my employer�s name.
Later, he gave me my passport back.
Now,
I have asked the Police Officer few questions
1. Sir, I�m in domestic traveling, is it mandatory to carry my immigration documents at all times?
Police Officer said, as per the US LAW, all non-immigrants must carry immigration documents and passport at all times.
2. What would you have done to me, if I had failed to present my passport?
Police office said, I could have DEPORTED you.
3. Sir, it is not possible for any one to carry passport at all times. Could the LAW allow me to carry photo copies of my passport and immigrations documents?
Police office said, No. Technically, you must carry original documents at all times.
I would advice you to carry Passport at all times.
I did not know this until Police Officer told me about this LAW.
P.S: BTW, the Department of Homeland Security (DHS) level is in �ORGANE�.
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paskal
01-20 07:34 AM
i guess i'm officially depressed :-)
alisa
01-27 09:25 AM
I am glad you posted this.
I will put the numbers in the excel spreadsheet and see what comes out.
But these might give more sensible results than the preposterous wait times that we were getting.
If the average depletion rate for India is 34K per annum, then the wait times would look a lot better I think.
I am assuming that these numbers include the dependents. So, if 34K adjustment of status were awareded, then, roughly speaking, there were 17K primary applicants, and 17K dependents? Am I correct?
Also, for the accumulation rate, when we say that 65K H-1 visas are given out annually, I am assuming that does not include the dependents. Am I right??
FISCAL ------ Employment ------- EB3
YEAR ----- Total ---- INDIA | Total --- India
2000 ----- 111,024 | 15888 | 51,711 | -5567 :IV FY 2000 (http://travel.state.gov/pdf/FY2000%20table%20V.pdf)
2001 ----- 186,536 | 41720 | 90,274 | 16405 :IV FY 2001 (http://travel.state.gov/pdf/FY2001%20table%20V.pdf)
2002 ----- 171,583 | 41919 | 87,574 | 17428 :IV FY 2002 (http://travel.state.gov/pdf/FY2002%20table%20V.pdf)
2003 ----- -83,020 | 20818 | 47,354 | 10680 :IV FY 2003 (http://travel.state.gov/pdf/FY2003%20table%20V.pdf)
2004 ----- 157,107 | 39496 | 88,114 | 19962 :IV FY 2004 (http://travel.state.gov/pdf/FY04tableV.pdf)
2005 ----- 242,335 | 47160 |122,130 | 23399 :IV FY 2005 (http://travel.state.gov/pdf/FY05tableV.pdf)
6 yr total - 951,605| 207001| 487,157| 93441
Annual Avg --------- 34500 | -------- 15574
If this trend would have continued. There should not be any MAJOR retrogression problem, but if you remember from the Nov 05 VB. The warning was very clear:
During FY due to anticipated heavy demand, the AC21 provisions are not expected to apply, and the amount of Employment numbers available to any single country will be subject to the 7% cap. It is anticipated that the addition of unused FY-2005 Family numbers and the remaining AC21 numbers to the 140,000 annual minimum will result in an FY-2006 annual Employment limit of 152,000. This will mean an Employment per-country limit for FY-2006 of approximately 10,650.
To illustrate the effect of the reduced per-county limitation during FY-2006 on the oversubscribed countries, it should be noted that during FY-2005 India used approximately 47,175 Employment numbers.
If you plug this number into your analysis the result might be a couple of years of advance for your predictions.
andy
I will put the numbers in the excel spreadsheet and see what comes out.
But these might give more sensible results than the preposterous wait times that we were getting.
If the average depletion rate for India is 34K per annum, then the wait times would look a lot better I think.
I am assuming that these numbers include the dependents. So, if 34K adjustment of status were awareded, then, roughly speaking, there were 17K primary applicants, and 17K dependents? Am I correct?
Also, for the accumulation rate, when we say that 65K H-1 visas are given out annually, I am assuming that does not include the dependents. Am I right??
FISCAL ------ Employment ------- EB3
YEAR ----- Total ---- INDIA | Total --- India
2000 ----- 111,024 | 15888 | 51,711 | -5567 :IV FY 2000 (http://travel.state.gov/pdf/FY2000%20table%20V.pdf)
2001 ----- 186,536 | 41720 | 90,274 | 16405 :IV FY 2001 (http://travel.state.gov/pdf/FY2001%20table%20V.pdf)
2002 ----- 171,583 | 41919 | 87,574 | 17428 :IV FY 2002 (http://travel.state.gov/pdf/FY2002%20table%20V.pdf)
2003 ----- -83,020 | 20818 | 47,354 | 10680 :IV FY 2003 (http://travel.state.gov/pdf/FY2003%20table%20V.pdf)
2004 ----- 157,107 | 39496 | 88,114 | 19962 :IV FY 2004 (http://travel.state.gov/pdf/FY04tableV.pdf)
2005 ----- 242,335 | 47160 |122,130 | 23399 :IV FY 2005 (http://travel.state.gov/pdf/FY05tableV.pdf)
6 yr total - 951,605| 207001| 487,157| 93441
Annual Avg --------- 34500 | -------- 15574
If this trend would have continued. There should not be any MAJOR retrogression problem, but if you remember from the Nov 05 VB. The warning was very clear:
During FY due to anticipated heavy demand, the AC21 provisions are not expected to apply, and the amount of Employment numbers available to any single country will be subject to the 7% cap. It is anticipated that the addition of unused FY-2005 Family numbers and the remaining AC21 numbers to the 140,000 annual minimum will result in an FY-2006 annual Employment limit of 152,000. This will mean an Employment per-country limit for FY-2006 of approximately 10,650.
To illustrate the effect of the reduced per-county limitation during FY-2006 on the oversubscribed countries, it should be noted that during FY-2005 India used approximately 47,175 Employment numbers.
If you plug this number into your analysis the result might be a couple of years of advance for your predictions.
andy
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srinivasj
03-11 11:11 PM
now looks like dates would move only after july..
more...
sands_14
09-27 09:56 AM
I got I485 receipt and FP notice last month.
I got my fingerprinting done in september .
After talking to my lawyer,I finally applied for my EAD and AP online.
I got the EAD receipt 2 days back (very quick I guess) and now I have received another FP notice based on EAD notice.
Is there some error?Do I have to go again for Fingerprinting???Anyone knows something?
sands_14,
This is quite common. I had the same thing happened. Even I have E-filed my EAD/AP last week. The way how it works is, since it is a post box USPS leaves the notice in there for all the deliveries. Once in a day, someone from USCIS picks those notices from the post box, goes to USPS and collects all the packages. Check your status back on Monday evening, it will say delivered.
I got my fingerprinting done in september .
After talking to my lawyer,I finally applied for my EAD and AP online.
I got the EAD receipt 2 days back (very quick I guess) and now I have received another FP notice based on EAD notice.
Is there some error?Do I have to go again for Fingerprinting???Anyone knows something?
sands_14,
This is quite common. I had the same thing happened. Even I have E-filed my EAD/AP last week. The way how it works is, since it is a post box USPS leaves the notice in there for all the deliveries. Once in a day, someone from USCIS picks those notices from the post box, goes to USPS and collects all the packages. Check your status back on Monday evening, it will say delivered.
rajsand
09-26 11:36 AM
Sent a message to the editor.
Maybe we should let other news sites know about CNN's defaulting if they do not make corrections even after many requests!
Maybe we should let other news sites know about CNN's defaulting if they do not make corrections even after many requests!
more...
meimmi
03-09 04:52 PM
Hi! I am planning to apply EAD on my own as I could no longer afford to pay my expensive lawyer, but there I am not sure how to answer question 13 in the form which says, "Have you ever before applied for employment authorization from USCIS? Since I was and still am on H1, should I answer yes? Please help. Thanks.
You can e-file(online) for EAD and AP. I applied online and received EAD within 45 days. I had to go to ASC for fingerprinting again though. The answer to that question is No if you are applying for EAD for the first time.
You can e-file(online) for EAD and AP. I applied online and received EAD within 45 days. I had to go to ASC for fingerprinting again though. The answer to that question is No if you are applying for EAD for the first time.
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gsc999
04-21 10:49 PM
I stayed till 6:30 p.m. and got an opportunity to briefly talk about Immigration Voice and commended his initiative on solving this issue.
Here is my take:
- Lot of IV members showed up, around 50. Please correct me if I get that right.
- Per my understanding Gutierrez came to CA, even though he is from Illinois to seek and reinforce support from California representatives, since CA is the swing state as far as immigration is concerned. Legal as well as undocumented.
- A lot of Latino origin people showed up. Well, no surprises there. Most of STRIVE does deal with undocumented immigration. Infact, it might be better that way. We keep low public profile but hard and strong lobbying.
- I asked Rep. Gutierrez if STRIVE bill had enough Republican support to pass the House. He mentioned that he is working to do that.He wants us to contact Republicans reps., not just the Democrats.
- It was good learning experience. I wasn't expecting a structured Q&A session. A suggestion: It would be great if we can trash out a strategy among ourselves and designate a spokesperson.
- I gave a brief interview video interview to the office of a State Senator from Sacramento. I mentioned about IV and our goals.
- It did looked like a Spanish affair but it is our preogative to speak up.
Here is my take:
- Lot of IV members showed up, around 50. Please correct me if I get that right.
- Per my understanding Gutierrez came to CA, even though he is from Illinois to seek and reinforce support from California representatives, since CA is the swing state as far as immigration is concerned. Legal as well as undocumented.
- A lot of Latino origin people showed up. Well, no surprises there. Most of STRIVE does deal with undocumented immigration. Infact, it might be better that way. We keep low public profile but hard and strong lobbying.
- I asked Rep. Gutierrez if STRIVE bill had enough Republican support to pass the House. He mentioned that he is working to do that.He wants us to contact Republicans reps., not just the Democrats.
- It was good learning experience. I wasn't expecting a structured Q&A session. A suggestion: It would be great if we can trash out a strategy among ourselves and designate a spokesperson.
- I gave a brief interview video interview to the office of a State Senator from Sacramento. I mentioned about IV and our goals.
- It did looked like a Spanish affair but it is our preogative to speak up.
more...
RNGC
09-19 04:36 PM
Million thanks to IV's superior organization. I am glad that my friends and I attended this event. It's just a little sad to see the local news channels reported the small protests by illegal immigrants in the Prince William County in MD but not our well-organized rally. Many people passing by us still think we are undocumented. I fully support the ideas from other members that we should highlight "LEGAL" everywhere.
I am suprised too!!! I just saw couple news agencies covering this rally....IV organisers did a great job in pulling this one....
but I am just curious to know why there was very little TV coverage for this event.....
I am suprised too!!! I just saw couple news agencies covering this rally....IV organisers did a great job in pulling this one....
but I am just curious to know why there was very little TV coverage for this event.....
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looivy
01-24 03:34 PM
IV members,
We need to come up with some great ideas like "flower campaign". Something that will mobilize IV members.
Let us not be pessimistic. There are thousand of reasons that one can think of why the new administration may not act soon. But that should not stop us from making our cause being heard. The new adminsitration has been taking many decisions that are not economy related. Economy is their #1 priority but it is not their only priority.
The visa recapture issue has been pending for a long time now (atleast 3 years). Either we continue to wait and suffer and remain frustrated or we take some action. Choice is ours.
PS: Let us be civil. I second using non-accusatory language on this forum.
We need to come up with some great ideas like "flower campaign". Something that will mobilize IV members.
Let us not be pessimistic. There are thousand of reasons that one can think of why the new administration may not act soon. But that should not stop us from making our cause being heard. The new adminsitration has been taking many decisions that are not economy related. Economy is their #1 priority but it is not their only priority.
The visa recapture issue has been pending for a long time now (atleast 3 years). Either we continue to wait and suffer and remain frustrated or we take some action. Choice is ours.
PS: Let us be civil. I second using non-accusatory language on this forum.
more...
dealsnet
03-19 11:12 AM
The conservative approch for the dependants is 1.2 to 1.5 times the labor approvals. Not all people have a dependants.
Husband and wife have labor approved. Like my case, my wife have labor approved, but I have file with my labor, which have older PD. Working family with husband and wife in H1B most of them have labor approved. So the actual number will be diffrent.
From the PERM statistics,
ROW adjustment should be 55% from the total number of pending cases
EB3 are 30%
If the total number of case pending with USCIS is 833,141 (all I-485 including Family based) (based on 12/31 numbers), so EB3 ROW are only 137,468. This means that with the current trend of DOS to avoid wasting GC we should expect the cut-off dates for EB3ROW to be 2006/2007.
Even if I take your figures at face value, I see a shortage of 60000 visas. This is because we need to consider that each LC will use more than one EB visa (due to family members). If I take a conservative figure that there will be one dependent for each LC candidate, we will need 200,000 EB visas for the 100,000 LCs.
Husband and wife have labor approved. Like my case, my wife have labor approved, but I have file with my labor, which have older PD. Working family with husband and wife in H1B most of them have labor approved. So the actual number will be diffrent.
From the PERM statistics,
ROW adjustment should be 55% from the total number of pending cases
EB3 are 30%
If the total number of case pending with USCIS is 833,141 (all I-485 including Family based) (based on 12/31 numbers), so EB3 ROW are only 137,468. This means that with the current trend of DOS to avoid wasting GC we should expect the cut-off dates for EB3ROW to be 2006/2007.
Even if I take your figures at face value, I see a shortage of 60000 visas. This is because we need to consider that each LC will use more than one EB visa (due to family members). If I take a conservative figure that there will be one dependent for each LC candidate, we will need 200,000 EB visas for the 100,000 LCs.
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MDix
02-11 12:09 PM
Looks like Ron is correct. This year DOS is estimating 9K FB visa but the number could go high. Last year they didn't estimate anything but by end of Year we got 13k( Per Ron). I read some where these numbers are not clear uptill end of year.
Bottom line is we may get more and we need to ask them about those lost 13k of last year. Looks like need of FOIA from DOS/CIS.
Bottom line is we may get more and we need to ask them about those lost 13k of last year. Looks like need of FOIA from DOS/CIS.
more...
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NKR
03-07 11:32 AM
I am employed with a company and I work for a client through a preferred vendor. I am in a slightly difficult situation. I would like to do AC21 with the vendor and negotiate for more. This might irk the vendor and he could in turn tell my employer about this. I cannot put in my papers with my employer without having an offer from the vendor in hand. I cannot join the client directly because of hiring freeze.
My question is, if due to the above exercise my employer cancels my H1, will I be immediately be out of status, does having EAD means that I will be in status even if my H1 is cancelled?.. How much time will I have to join a new employer using EAD if my H1 is cancelled or revoked.?.
Thanks,
My question is, if due to the above exercise my employer cancels my H1, will I be immediately be out of status, does having EAD means that I will be in status even if my H1 is cancelled?.. How much time will I have to join a new employer using EAD if my H1 is cancelled or revoked.?.
Thanks,
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Saralayar
09-10 05:45 PM
Guys,
The link isnt working for me too.
I hope things work in favor with this bill today, but if not, we must ask for Citizenship instead of Greencards. Anyone with me.,
We have all waited for 5-10 year and there are many who got it in one year and then Citizenship in 6-8 years from the day they got their GCs. That was the normal timeframe. But due to their inefficiency, we are waiting this much time. NOT our fault. Now dont you guys think we must ask for Citizenship.. I thought my case was too stressful, came 99, applied 04, waiting for 485 now, but I have seen so many many stories of ohter guys also here who suffered more. I feel we must ask them Citizenship. If we get, great, else atleast we end up with GC.
Anybody with me,
Thanks,
Sri.,
I opend a thread for this some months ago... and people have no vision for future... so laughing and making sarcastic comments..... because most of them are from the country which do not think about future (even now).:(
The link isnt working for me too.
I hope things work in favor with this bill today, but if not, we must ask for Citizenship instead of Greencards. Anyone with me.,
We have all waited for 5-10 year and there are many who got it in one year and then Citizenship in 6-8 years from the day they got their GCs. That was the normal timeframe. But due to their inefficiency, we are waiting this much time. NOT our fault. Now dont you guys think we must ask for Citizenship.. I thought my case was too stressful, came 99, applied 04, waiting for 485 now, but I have seen so many many stories of ohter guys also here who suffered more. I feel we must ask them Citizenship. If we get, great, else atleast we end up with GC.
Anybody with me,
Thanks,
Sri.,
I opend a thread for this some months ago... and people have no vision for future... so laughing and making sarcastic comments..... because most of them are from the country which do not think about future (even now).:(
more...
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gauravster
11-11 12:02 PM
The draft letter looks good. I think, we should also send a copy or new letter to the Ombudsman and to the DOS (as DOS is also involved in how many visas are released).
That way we do not get pushed around.
Good work.
Gaurav
That way we do not get pushed around.
Good work.
Gaurav
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msyedy
06-13 11:12 AM
Hi, Senthil and Bugmenot
You said :They will allow some form of consulting and they may ban subcontracting in H1b.
Now you agree that consulting will be there. So the bill have to be tweeked or else even small american companies will shut down.
ex bearing point....
Rule 2 of restriction - Company cannot hire 6 months before or after it has laid of a person.
Impossible to be applied.
(Big companies will be affected with this, small companies like CDI, ABC.. who might hire a H1-B on their pay roll but they let them go when they are not able to find a new client that they can place that person).
Rule 3 - You have to advertise before you get an H1-B might be allowed but ignored like L1 is ignored now.
I will show you how the merit based system have to change for EB in my next post.
Got to go...
I am not supporting consulting ban on h1bs. But even that happens companies will readjust by hiring permanent people. Also big consulting companies will bring more people by L1 and B1. I am working in a consulting company and they do not depend on H1bs though considerable H1bs are there.Still H1b Cap will be reached there is heavy demand for h1b. Also I do not think it is outright ban of H1Bs in consulting. They will allow some form of consulting and they may ban subcontracting in H1b. It depends on how USCIS interprets the law. I hope Congress will not do if anything is bad for country. Infact same rule is there in L1 also. But still I am seeing persons are placed in client sites.
Of course anti immigrants are trying to block H1b program using this but congress trying this because abuses are more in consulting. When congress realizes this anytime they will remove this restriction if they find some other alternative.
Now chances of CIR is 30% and 60% chance of statusquo for another 2 years. Even skil bill is passed seperately same restrictions will come as same Senators will be there.
Some of abuses are
1. Not paying bench
2. Lower pay compared to market
3. illegal agreements
4. Rotation of people and using H1b for outsourcing(It is not abuse but it is not the purpose of H1b)
5. Giving ads for recruiting only H1bs
You said :They will allow some form of consulting and they may ban subcontracting in H1b.
Now you agree that consulting will be there. So the bill have to be tweeked or else even small american companies will shut down.
ex bearing point....
Rule 2 of restriction - Company cannot hire 6 months before or after it has laid of a person.
Impossible to be applied.
(Big companies will be affected with this, small companies like CDI, ABC.. who might hire a H1-B on their pay roll but they let them go when they are not able to find a new client that they can place that person).
Rule 3 - You have to advertise before you get an H1-B might be allowed but ignored like L1 is ignored now.
I will show you how the merit based system have to change for EB in my next post.
Got to go...
I am not supporting consulting ban on h1bs. But even that happens companies will readjust by hiring permanent people. Also big consulting companies will bring more people by L1 and B1. I am working in a consulting company and they do not depend on H1bs though considerable H1bs are there.Still H1b Cap will be reached there is heavy demand for h1b. Also I do not think it is outright ban of H1Bs in consulting. They will allow some form of consulting and they may ban subcontracting in H1b. It depends on how USCIS interprets the law. I hope Congress will not do if anything is bad for country. Infact same rule is there in L1 also. But still I am seeing persons are placed in client sites.
Of course anti immigrants are trying to block H1b program using this but congress trying this because abuses are more in consulting. When congress realizes this anytime they will remove this restriction if they find some other alternative.
Now chances of CIR is 30% and 60% chance of statusquo for another 2 years. Even skil bill is passed seperately same restrictions will come as same Senators will be there.
Some of abuses are
1. Not paying bench
2. Lower pay compared to market
3. illegal agreements
4. Rotation of people and using H1b for outsourcing(It is not abuse but it is not the purpose of H1b)
5. Giving ads for recruiting only H1bs
more...
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neelu
12-27 11:33 PM
Also everyone viewing and helping on this thread, please help bring ONE member to IV. I was able to easily add three members in the two weeks since we started this campaign.
All we need YOU to do NOW is add ONE member.
Please help in this effort, which in turn will benefit you!
Thank you.
All we need YOU to do NOW is add ONE member.
Please help in this effort, which in turn will benefit you!
Thank you.
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ujjvalkoul
01-17 03:00 PM
The Monthly newsletter that IV sent out may not be enough.....some people do not even read that...Subject line may have to be more urgent.....so that people take notice of the dire situation we are in in terms of funds....
Can IV Core send email to every member to contribute one time or recurring...in a separate email
Can IV Core send email to every member to contribute one time or recurring...in a separate email
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injrav
03-12 11:06 AM
I support this.
I think its good idea
I think its good idea
nojoke
09-17 10:50 PM
This is no doubt a bad time for the US economy. However the world is not going to collapse. We will nearly certainly see a recession. Outside chance of a depression. The credit markets are frozen, confidence has been shaken, housing is searching for a bottom, unemployment has ticked up a percentage point so far, and the stock market is down about 20%.
However, put that in the context of the great depression in the late 20s and into the early 30s. 25% unemployment, Widespread bank failures with no FDIC insurance, Many companies collapsed and people lost their life savings just by keeping it in the bank, Stock markets down by nearly 90%, people died of starvation! Yeah those things happened in this country. In fact, many observers attribute that experience for the extremely frugal nature of the elderly in this country, the so called great generation. Perhaps this will change current US attitudes away from consumption and toward savings. Perhaps entitlement reform will be fast tracked. We shall see.
Things are bad. Structural changes are needed. The war must be ended and the resources redirected. Americans also need to adjust to the new realities in a globalizing world some of which are not particularly appealing.
However also remember, the US has many geo-political advantages, control of a massive amount of natural resources, still the best R&D, an advanced industrial base, well developed infrastructure, and despite the current wall street mess no currency seems imminently capable of replacing the US dollar as the global reserve currency (hence giving the Federal reserve the enormous power of the printing press). Note that not a single currency has appreciated more than 5% viz a vie during this crisis. In fact Gold has outperformed all! Quite simply noone believes another economy is ready at this time.
Hopefully the job market will not get too messy. The market will bottom in the next 6 months or so, once their is a complete clean out of the balance sheets. We are probably past the half way point in this. Exactly when it ends noone knows however.
If you have savings consider putting it blue chip consumer staples, when you feel there is a bottom in stocks. Diversify internationally, Consider letting your wife go on a gold buying binge............:).
Quit worrying, this too shall pass. This downturn will be longer than recent ones however. Might be measured in terms of a few years rather than months.
It is not end of the world. But end of the economy as we know it. People smarter than me and you have said this is turning into an armageddon.
However, put that in the context of the great depression in the late 20s and into the early 30s. 25% unemployment, Widespread bank failures with no FDIC insurance, Many companies collapsed and people lost their life savings just by keeping it in the bank, Stock markets down by nearly 90%, people died of starvation! Yeah those things happened in this country. In fact, many observers attribute that experience for the extremely frugal nature of the elderly in this country, the so called great generation. Perhaps this will change current US attitudes away from consumption and toward savings. Perhaps entitlement reform will be fast tracked. We shall see.
Things are bad. Structural changes are needed. The war must be ended and the resources redirected. Americans also need to adjust to the new realities in a globalizing world some of which are not particularly appealing.
However also remember, the US has many geo-political advantages, control of a massive amount of natural resources, still the best R&D, an advanced industrial base, well developed infrastructure, and despite the current wall street mess no currency seems imminently capable of replacing the US dollar as the global reserve currency (hence giving the Federal reserve the enormous power of the printing press). Note that not a single currency has appreciated more than 5% viz a vie during this crisis. In fact Gold has outperformed all! Quite simply noone believes another economy is ready at this time.
Hopefully the job market will not get too messy. The market will bottom in the next 6 months or so, once their is a complete clean out of the balance sheets. We are probably past the half way point in this. Exactly when it ends noone knows however.
If you have savings consider putting it blue chip consumer staples, when you feel there is a bottom in stocks. Diversify internationally, Consider letting your wife go on a gold buying binge............:).
Quit worrying, this too shall pass. This downturn will be longer than recent ones however. Might be measured in terms of a few years rather than months.
It is not end of the world. But end of the economy as we know it. People smarter than me and you have said this is turning into an armageddon.
saroj76
07-28 03:38 PM
Lord Ganesha picture on the India Pale Ale is a warning symbol. It means that if you drink too much beer, do not exercise, and use mouse as your vehicle then your belly will be as big as Lord Ganesha's belly LOL
Hi all,
I am not sure whether I should add this over here or not but I could not resist and I don't know any other way.
I went to a wine shop and was shocked to see cartoon of Ganesha used on the bottle of India Pale Beer. I am not a religious person but this thing made me nervous. Please let me know how this can be protested.
Thanks
Hi all,
I am not sure whether I should add this over here or not but I could not resist and I don't know any other way.
I went to a wine shop and was shocked to see cartoon of Ganesha used on the bottle of India Pale Beer. I am not a religious person but this thing made me nervous. Please let me know how this can be protested.
Thanks