vbkris77
03-24 04:21 PM
Hello, If I were to put you all guys in a room and give you a permission to fight each other, you will really beat the crap out of others..
Any topic, any issue will lead to in-fighting..
Why did most Indians were caught on wrong doings in H1B, becos, most Indians had to spend most time on H1B status. Atleast 5 more years than usual. I am not saying it is right. But that is the fact..
How long is Long enough to prove that one is employed to a GC?? No one knows???
How many of the FTEs do other jobs that are not listed on their H1B? I bet most.. You don't look at your H1B petition to see if you are qualified to do that job or not. You will do it if you asked by your boss. Even if you can't, you will learn and still do it.
So stop these crazy talk and help the OP if you can or just give a moral support.
Most of you are not still convinced that we are not the reason for backlog. It is CIS that wasted visas and is the reason for the backlog.. That is the problem..
Any topic, any issue will lead to in-fighting..
Why did most Indians were caught on wrong doings in H1B, becos, most Indians had to spend most time on H1B status. Atleast 5 more years than usual. I am not saying it is right. But that is the fact..
How long is Long enough to prove that one is employed to a GC?? No one knows???
How many of the FTEs do other jobs that are not listed on their H1B? I bet most.. You don't look at your H1B petition to see if you are qualified to do that job or not. You will do it if you asked by your boss. Even if you can't, you will learn and still do it.
So stop these crazy talk and help the OP if you can or just give a moral support.
Most of you are not still convinced that we are not the reason for backlog. It is CIS that wasted visas and is the reason for the backlog.. That is the problem..
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GCapplicant
07-13 09:53 AM
The EB3 situation is really bad...I have the calling part too...and its stressful to see EB3I not having any good hopes though.
I am in signing this letter.
its worth a try.Atleast they will come know there is Eb3 stuck for many years beacause of the backlog.the old applications have not been considered at all.
I request even EB2 to support this cause and help.
I am in signing this letter.
its worth a try.Atleast they will come know there is Eb3 stuck for many years beacause of the backlog.the old applications have not been considered at all.
I request even EB2 to support this cause and help.
mariner5555
04-22 03:52 PM
this is from schiller ..an economist ..I am sure he knows more about housing than others ..I guess this is a worse case scenario (if not the worst).
http://biz.yahoo.com/ap/080422/economy_shiller.html?.v=2
----
Economist cautions housing slump could exceed drop of the Great Depression, require bailouts
NEW HAVEN, Conn. (AP) -- An influential economist who long predicted the housing market bubble cautioned Tuesday that the slump in the U.S. housing market could cause prices to fall more than they did in the Great Depression and bailouts will be needed so millions don't lose their homes.
Yale University economist Robert Shiller, pioneer of the widely watched Standard & Poor's/Case-Shiller home price index, said there's a good chance housing prices will fall further than the 30 percent drop in the historic depression of the 1930s. Home prices nationwide already have dropped 15 percent since their peak in 2006, he said.
"I think there is a scenario that they could be down substantially more," Shiller said during a speech at the New Haven Lawn Club.
Shiller's Standard & Poor's/Case-Shiller home price index is considered a strong measure of home prices because it examines price changes of the same property over time, instead of calculating a median price of homes sold during the month.
Shiller, who admitted he has a reputation for being bearish, said real estate cycles typically take years to correct.
Home prices rose about 85 percent from 1997 to 2006 adjusted for inflation, the biggest national housing boom in U.S. history, Shiller said.
"Basically we're in uncharted territory," Shiller said. "It seems we have developed a speculative culture about housing that never existed on a national basis before."
Many people became convinced that housing prices would increase 10 percent annually, a notion Shiller called crazy.
http://biz.yahoo.com/ap/080422/economy_shiller.html?.v=2
----
Economist cautions housing slump could exceed drop of the Great Depression, require bailouts
NEW HAVEN, Conn. (AP) -- An influential economist who long predicted the housing market bubble cautioned Tuesday that the slump in the U.S. housing market could cause prices to fall more than they did in the Great Depression and bailouts will be needed so millions don't lose their homes.
Yale University economist Robert Shiller, pioneer of the widely watched Standard & Poor's/Case-Shiller home price index, said there's a good chance housing prices will fall further than the 30 percent drop in the historic depression of the 1930s. Home prices nationwide already have dropped 15 percent since their peak in 2006, he said.
"I think there is a scenario that they could be down substantially more," Shiller said during a speech at the New Haven Lawn Club.
Shiller's Standard & Poor's/Case-Shiller home price index is considered a strong measure of home prices because it examines price changes of the same property over time, instead of calculating a median price of homes sold during the month.
Shiller, who admitted he has a reputation for being bearish, said real estate cycles typically take years to correct.
Home prices rose about 85 percent from 1997 to 2006 adjusted for inflation, the biggest national housing boom in U.S. history, Shiller said.
"Basically we're in uncharted territory," Shiller said. "It seems we have developed a speculative culture about housing that never existed on a national basis before."
Many people became convinced that housing prices would increase 10 percent annually, a notion Shiller called crazy.
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NKR
09-30 02:26 PM
Yes, you are right, the recent 485 denials for people using AC-21 have nothing to do with Obama/Durbin immigtaion policy. But I kind of remember there were some harsh provisions for people using AC 21 in CIR 2007 version. I am trying to find out the details about it.
Correct me if I am wrong.
I just do not understand this part, why would they provide something and ask us not to use it. It is like giving you a piece of cake and telling you not to eat it. This whole thing sucks, they are making it harder for people who live by the law of the land.
Correct me if I am wrong.
I just do not understand this part, why would they provide something and ask us not to use it. It is like giving you a piece of cake and telling you not to eat it. This whole thing sucks, they are making it harder for people who live by the law of the land.
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transpass
03-26 07:01 PM
Does this mean that H1B is also location specific?
As far as I know, yes it is...I remember doing H1 myself few years ago and the LCA form has prevailing wage rate section. As we know, the wage rates differ from place to place and so since H1 is based on prevailing wage rate on LCA, then H1 is also location specific. Even though LCA form has been changed since then, I think it still holds true...
As far as I know, yes it is...I remember doing H1 myself few years ago and the LCA form has prevailing wage rate section. As we know, the wage rates differ from place to place and so since H1 is based on prevailing wage rate on LCA, then H1 is also location specific. Even though LCA form has been changed since then, I think it still holds true...
thomachan72
07-08 09:00 AM
Having said that, dont forget to chose a lawyer who is noted to fight cases that are tough. Contact many lawyers including the murthy, rajeeve khanna etc etc. Evaluate what each of them say. Some will offer advice only after an initial siging of legal contract and paying the consultation fee, there are others who do the initial evaluation free of cost. Hope somebody in this forum with experience gives out the names of good lawyers for you in time.
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mrajatish
04-08 12:21 PM
Look what really does not make sense about the "Consulting company" portion is that management consulting companies like BCG, Mckenzie or the Big 4 consulting firms have a business model where they "outsource" employees for projects to other companies. So, as it stands, these companies will not be able to hire anyone from top business schools. And we are not talking about desi consulting companies here (no pun intended).
Again, this bill embodies the basic principle that displaces US workers do not want to understand:
"What is good for the economy may not be good for an individual".
And I say that because I have been myself displaces 2 times in my life, and every time, I have fallen (or stumbled), I have walked an extra mile to get a better life.
I just feel sorry for people like me and many others who came to this country with a different mindset and now find themselves in the midst of the worst anti-immigrant clime that has existed in a long time.
That said, I feel obligated to remind everyone - "Do yourself a favor and do everything within your means to make a meaningful change, self-help is the best help you will get"
- Raj
Again, this bill embodies the basic principle that displaces US workers do not want to understand:
"What is good for the economy may not be good for an individual".
And I say that because I have been myself displaces 2 times in my life, and every time, I have fallen (or stumbled), I have walked an extra mile to get a better life.
I just feel sorry for people like me and many others who came to this country with a different mindset and now find themselves in the midst of the worst anti-immigrant clime that has existed in a long time.
That said, I feel obligated to remind everyone - "Do yourself a favor and do everything within your means to make a meaningful change, self-help is the best help you will get"
- Raj
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krishnam70
03-26 07:10 PM
The attachment upload fails for me as well but goddamn UN, you are unbelievable.
1. Your knowledge of the specifics and technicalities and access to information is very impressive
2. And you go out of your way to share it with others
That being said, I skimmed through the document real quick and the part that caught my eye was the AAOs point on the applicant never having resided/lived in the same state as the employer, which you had also mentioned in one of your earlier posts.
Wouldn't that be quite common in most consulting scenarios? What if the beneficiary/applicant has never lived in the same state as the petitioning employer but has lived in and worked for the employer (at client locations, offsite assignments) in nearby bordering states, from before the labor was filed and until long after the 485 was filed. Do you see the USCIS ever having issues with that?
That whenever a company now applies for an H1 ( not that many companies are going to do in this climate) they have to put in as many locations/states as possible? By your suggestions if USCIS is deeming most h1b companies as 'Staffing' companies(and if it allows them to exist) then almost all H1 LCA should contain 4-5 states in which the H1B could work? How would prevailing wage calculation be done in that case? Or for that matter if each time an H1B candidate goes to work in a different location and the employer(staffing) company files 'Amend petition for location' does the prevailing wage factor come in to picture?
your advise in this could help some people who are in consulting so that they can insist with their employers to file for 'amend' in case they are working elsewhere.
- cheers
kris
1. Your knowledge of the specifics and technicalities and access to information is very impressive
2. And you go out of your way to share it with others
That being said, I skimmed through the document real quick and the part that caught my eye was the AAOs point on the applicant never having resided/lived in the same state as the employer, which you had also mentioned in one of your earlier posts.
Wouldn't that be quite common in most consulting scenarios? What if the beneficiary/applicant has never lived in the same state as the petitioning employer but has lived in and worked for the employer (at client locations, offsite assignments) in nearby bordering states, from before the labor was filed and until long after the 485 was filed. Do you see the USCIS ever having issues with that?
That whenever a company now applies for an H1 ( not that many companies are going to do in this climate) they have to put in as many locations/states as possible? By your suggestions if USCIS is deeming most h1b companies as 'Staffing' companies(and if it allows them to exist) then almost all H1 LCA should contain 4-5 states in which the H1B could work? How would prevailing wage calculation be done in that case? Or for that matter if each time an H1B candidate goes to work in a different location and the employer(staffing) company files 'Amend petition for location' does the prevailing wage factor come in to picture?
your advise in this could help some people who are in consulting so that they can insist with their employers to file for 'amend' in case they are working elsewhere.
- cheers
kris
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pappu
07-13 11:37 AM
My thougts are, writing letter would not help, It will go to deaf ears. EB3-I status is not hidden to any one DOS/USCIS/DOL, but looks like no one is doing any thing for that.
When USCIS can interpret so many things why cant they interpert to recapture unused visa numbers ?
I guess they will find some other way to mess up.
IV already met DOS, USCIS on visa recapture during our admin fix campaign. IV even met this official mentioned in the first post this thread in the letter. There was a long conversation with this official. IV even went higher up in the hierarchy of DOS to meet officials. Visa recapture needs to be done via a bill at this time.
When USCIS can interpret so many things why cant they interpert to recapture unused visa numbers ?
I guess they will find some other way to mess up.
IV already met DOS, USCIS on visa recapture during our admin fix campaign. IV even met this official mentioned in the first post this thread in the letter. There was a long conversation with this official. IV even went higher up in the hierarchy of DOS to meet officials. Visa recapture needs to be done via a bill at this time.
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delax
07-13 09:48 PM
[QUOTE=kutra;262395]Disclaimer: I am an EB3-Indian with a PD of Oct 2003.
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
I am not trying to convince anybody about the merits. The original post asked for comments which I offered. PL read this post of mine
http://immigrationvoice.org/forum/showthread.php?p=262198#post262198
I am not at all surprised at the 'backlash'.
I appreciate your input and candor
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
I am not trying to convince anybody about the merits. The original post asked for comments which I offered. PL read this post of mine
http://immigrationvoice.org/forum/showthread.php?p=262198#post262198
I am not at all surprised at the 'backlash'.
I appreciate your input and candor
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pitha
02-21 11:33 AM
This is so ridiculous. Lou Dobbs is self-righteous self serving idiot that�s was well known but why is CNN pimping him. Don�t they realize as Lou Dobbs is becoming a laughing stock so is CNN by pimping him. I was trying to write some comments on this joke written by Lou Dobbs but CNN does not provide a means to write your comments.
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rameshvaid
07-14 05:23 PM
EB3-I..please print the attached word doc and sign and mail it to Department of state..this week
Moderator could you makes this Sticky please
Could somebody also post the adderess of USCIS please..
I mailed letter today..
RV
Moderator could you makes this Sticky please
Could somebody also post the adderess of USCIS please..
I mailed letter today..
RV
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bigboy007
09-29 11:17 PM
We can argue this for long and long ... some ppl say obama is good some ppl say McCain is good... Neither we have chance to determine who would be next. Please dont jump on me...
But we can discuss on what we can do or have to do based on "IF" "Obama is elected president and as understandable Senator Durbin determines the rules of the game for EB Immigrants.." what are our options , what can we do overcome the crisis through IV , I think this is constructive discussion... and what direction would and will benefit all of us , I see this happening as nightmare.
Some ppl might argue that its in hands of Congress and Senate... thats right who ever would have followed on CIR 2007 debate its understandable thats the basic rule. But if you see last year the reason bill was defeated was with narrow voting. There is a good chance these numbers might change due to elections new senators might come in. Also argument is there might not be much heat as elections are over , IF not we are all happy and if comes again we need to pursue this again as we did in 2007. But things might change we should be prepared to handle in the apt and best way we can for our best benefit.
Taking in to other direction if McCain might win I dont see any -ve challenges if not positive. Lets change our direction from whoz best to what to do if such scenario arises ... there are lot of ppl from INdian origin in Obama campaign.. will they help...
My point is if McCain is elected, there is no chance for GC debates. The economy will become so bad that there won't be any support from any law makers. Nobody will touch the immigration bill.
But we can discuss on what we can do or have to do based on "IF" "Obama is elected president and as understandable Senator Durbin determines the rules of the game for EB Immigrants.." what are our options , what can we do overcome the crisis through IV , I think this is constructive discussion... and what direction would and will benefit all of us , I see this happening as nightmare.
Some ppl might argue that its in hands of Congress and Senate... thats right who ever would have followed on CIR 2007 debate its understandable thats the basic rule. But if you see last year the reason bill was defeated was with narrow voting. There is a good chance these numbers might change due to elections new senators might come in. Also argument is there might not be much heat as elections are over , IF not we are all happy and if comes again we need to pursue this again as we did in 2007. But things might change we should be prepared to handle in the apt and best way we can for our best benefit.
Taking in to other direction if McCain might win I dont see any -ve challenges if not positive. Lets change our direction from whoz best to what to do if such scenario arises ... there are lot of ppl from INdian origin in Obama campaign.. will they help...
My point is if McCain is elected, there is no chance for GC debates. The economy will become so bad that there won't be any support from any law makers. Nobody will touch the immigration bill.
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ItIsNotFunny
03-27 09:02 AM
10 Reasons to Lobby for your cause (http://www.independentsector.org/programs/gr/10ReasonstoLobby.pdf) (courtesy krishna.ahd)
For many of us, lobbying is something other people do�people who wear fancy clothes and buy politicians lunch at expensive restaurants. But lobbying, or more simply, trying to influence those who make policies that affect our lives, is something anyone can do. And it is something all of us should do if we believe in a good cause and in a democratic form of government. Read on to find out why.
......
Very nice post.
For many of us, lobbying is something other people do�people who wear fancy clothes and buy politicians lunch at expensive restaurants. But lobbying, or more simply, trying to influence those who make policies that affect our lives, is something anyone can do. And it is something all of us should do if we believe in a good cause and in a democratic form of government. Read on to find out why.
......
Very nice post.
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sugaur
01-06 11:51 PM
For all who think "Fatah" is more moderate than Hamas, heres a part of the constitution of Fatah:
Goals
Article (12) Complete liberation of Palestine, and eradication of Zionist economic, political, military and cultural existence.
Article (13) Establishing an independent democratic state with complete sovereignty on all Palestinian lands, and Jerusalem is its capital city, and protecting the citizens' legal and equal rights without any racial or religious discrimination.
"Eradication" of the Jewish state., their culture and there economy. Heres a movement which has "Genocide" as its constituional goal. How the hell do you negotiate with such people? Israel needs to be supported in its noble actions of self defense againt such fanatics.
Goals
Article (12) Complete liberation of Palestine, and eradication of Zionist economic, political, military and cultural existence.
Article (13) Establishing an independent democratic state with complete sovereignty on all Palestinian lands, and Jerusalem is its capital city, and protecting the citizens' legal and equal rights without any racial or religious discrimination.
"Eradication" of the Jewish state., their culture and there economy. Heres a movement which has "Genocide" as its constituional goal. How the hell do you negotiate with such people? Israel needs to be supported in its noble actions of self defense againt such fanatics.
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Macaca
12-30 06:53 PM
Oppression born of fear
There is fear at the heart of the Chinese and Russian systems. (http://www.telegraph.co.uk/comment/telegraph-view/8229075/Oppression-born-of-fear.html)
Daily Telegraph Editorial
An over-mighty state crushes those whom it deems its opponents. Yet in doing so it exposes its weakness. Take the cases of Liu Xiaobo, who yesterday marked his 55th birthday in prison in China, and Mikhail Khodorkovsky, currently on trial in Russia. The reaction of the Chinese government earlier in the year to the award of the Nobel Peace Prize to Mr Liu was hysterical. Because the dissident and his family were not permitted to attend the ceremony, the prize was placed on an empty chair, a potent symbol of the oppressive nature of the Communist Party; in short, a diplomatic disaster.
The relentless pursuit of Mr Khodorkovsky has likewise further tarnished Russia's image. The former head of the oil company Yukos is likely to be sentenced to a six-year term this week for embezzlement and money-laundering, shortly before he completes an earlier, eight-year sentence for tax evasion. The charge that he stole �16.3 billion of oil revenues between 1998 and 2003 is absurd. And the political nature of the case has been made crystal clear by Vladimir Putin, the prime minister, who said earlier this month that "a thief must sit in jail". Mr Khodorkovsky's cardinal sin, in Mr Putin's eyes, is to have provided funding to opposition parties. His second sentence will mean he will be out of the way well beyond the presidential election scheduled for March 2012.
These two men are being hounded because they challenge the status quo, which in China is the political monopoly of the Communist Party, and in Russia, bureaucratic cronyism. In both countries, those who have grown rich and powerful under such conditions want to keep things as they are. Yet the very intensity of the persecution reveals a fear at the heart of each system that its authority is more fragile than it might appear. Does the emperor have any clothes?
Ivory Coast election crisis: A roadmap for African political reform (http://www.csmonitor.com/Commentary/Global-Viewpoint/2010/1230/Ivory-Coast-election-crisis-A-roadmap-for-African-political-reform) By Frazer & Berggruen | CSM
There is fear at the heart of the Chinese and Russian systems. (http://www.telegraph.co.uk/comment/telegraph-view/8229075/Oppression-born-of-fear.html)
Daily Telegraph Editorial
An over-mighty state crushes those whom it deems its opponents. Yet in doing so it exposes its weakness. Take the cases of Liu Xiaobo, who yesterday marked his 55th birthday in prison in China, and Mikhail Khodorkovsky, currently on trial in Russia. The reaction of the Chinese government earlier in the year to the award of the Nobel Peace Prize to Mr Liu was hysterical. Because the dissident and his family were not permitted to attend the ceremony, the prize was placed on an empty chair, a potent symbol of the oppressive nature of the Communist Party; in short, a diplomatic disaster.
The relentless pursuit of Mr Khodorkovsky has likewise further tarnished Russia's image. The former head of the oil company Yukos is likely to be sentenced to a six-year term this week for embezzlement and money-laundering, shortly before he completes an earlier, eight-year sentence for tax evasion. The charge that he stole �16.3 billion of oil revenues between 1998 and 2003 is absurd. And the political nature of the case has been made crystal clear by Vladimir Putin, the prime minister, who said earlier this month that "a thief must sit in jail". Mr Khodorkovsky's cardinal sin, in Mr Putin's eyes, is to have provided funding to opposition parties. His second sentence will mean he will be out of the way well beyond the presidential election scheduled for March 2012.
These two men are being hounded because they challenge the status quo, which in China is the political monopoly of the Communist Party, and in Russia, bureaucratic cronyism. In both countries, those who have grown rich and powerful under such conditions want to keep things as they are. Yet the very intensity of the persecution reveals a fear at the heart of each system that its authority is more fragile than it might appear. Does the emperor have any clothes?
Ivory Coast election crisis: A roadmap for African political reform (http://www.csmonitor.com/Commentary/Global-Viewpoint/2010/1230/Ivory-Coast-election-crisis-A-roadmap-for-African-political-reform) By Frazer & Berggruen | CSM
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dealsnet
01-03 08:24 PM
Terrorist attacked and destroyed two American building. What happened after that; Two of their country are now in American control and carpet bombed. This is a country of brave with brave leaders.
What happened to India. Our people are strong, courageous, patriotic, but the political leaders are spineless, corrupt and taking the dynastic route of Gandhi/ Nehru.
We miss a leader like Netaji.
In America, most of the senators, former top leaders have military background and training. For India also we need a system to make compulsary at least 2 year military training to aspiring politicians, make mandatory thing to stand for the election for assembly and parliament. Then only we will get corruption free good leaders.
Look world leaders like Putin & Isreal leaders.
What happened to India. Our people are strong, courageous, patriotic, but the political leaders are spineless, corrupt and taking the dynastic route of Gandhi/ Nehru.
We miss a leader like Netaji.
In America, most of the senators, former top leaders have military background and training. For India also we need a system to make compulsary at least 2 year military training to aspiring politicians, make mandatory thing to stand for the election for assembly and parliament. Then only we will get corruption free good leaders.
Look world leaders like Putin & Isreal leaders.
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PD_Dec2002
07-07 10:01 PM
Hi,
Thank you for all your support.They asked for my husband`s paystubs ,all employment history all W2`s when he filed for AOS as primary.Later we withdrew his petition and only kept petition filed through me as the primary.That officer is extremely detailed oriented ,he/she asked and questioned every minute detail pertaining to our case.
New update on EAD is that local offices are no longer authorized to issue interim EAD`S.We went to local office in greer, south carolina(we live in charlotte,nc) and the answer we got was that they can only email uscis why there is a delay.and if we wanted to find an answer we should come back in 2 weeks and that they won`t disclose any thing by phone because of privacy act.
So you got called for an interview?
Thanks,
Jayant
Thank you for all your support.They asked for my husband`s paystubs ,all employment history all W2`s when he filed for AOS as primary.Later we withdrew his petition and only kept petition filed through me as the primary.That officer is extremely detailed oriented ,he/she asked and questioned every minute detail pertaining to our case.
New update on EAD is that local offices are no longer authorized to issue interim EAD`S.We went to local office in greer, south carolina(we live in charlotte,nc) and the answer we got was that they can only email uscis why there is a delay.and if we wanted to find an answer we should come back in 2 weeks and that they won`t disclose any thing by phone because of privacy act.
So you got called for an interview?
Thanks,
Jayant
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mariner5555
04-15 03:37 AM
We are looking to buy a house and the bank is asking us to put down 10%. How much money is considered safe to have after down-payment if we are buying a home. I know it depends on the situation, but I would like some estimates/ball-park figures.
if on EAD / H1 - have atleast 12 months living expenses (food, mortgage, utilities taxes etc ..for worst case scenario - maybe even more -- since you won't be able to sell the house easily if you have to move for a new job) ..if on GC, I guess 6 months. depends on yr area, skills etc ..my guess only.
here is the latest from Wachovia ..(I know it is a repeat ..but to answer the original thread question for others who may want opinions) ..These economists are generally optimistic even when the situation is bad (since it hurts their own stock prices) ..the fact that they are pessimistic shows the real situation. In other words (my thoughts) - if your 485 is pending, then there is no hurry to buy a house ..deals will get better in the next 18 months. (after that house prices will be stagnant for a longer time -- this is for most locations or around 95% of US cities/towns)
------------
Don Truslow, chief risk officer of banking giant Wachovia (WB, Fortune 500), said home prices should fall through 2008 before finally hitting bottom in the middle of 2009. (Wachovia, the No. 4 U.S. bank by assets, reported an unexpected loss Monday.)
Sinai argues that until housing prices turn around, there isn't much hope for a pick-up in the economy because housing woes will continue be a drag on consumer spending and the credit markets.
"So much borrowing and lending was leveraged to [housing], that as long as values keep going down, the exposure of consumers, of financial institutions and of investors remains extremely high," he said.
-----------
if you are technical person ..read this article ..not sure how he (Mr. Makin is a visiting scholar at the American Enterprise Institute.)comes up with 23% figure ..but I guess he must have done research.
http://online.wsj.com/article/SB120813349057411671.html?mod=opinion_main_comment aries
-------
As average house prices plummet – declining at a 23% annual rate over the three months ending in January – lenders are sharply curtailing access to mortgage-based, home-equity loans. The 15% of U.S. mortgage holders with negative equity in their homes have no access to credit, and 20% with marginal equity have limited access at best.Overall access to credit is contracting: Ask Americans trying to utilize home-equity lines or arrange student loans.
---------
if on EAD / H1 - have atleast 12 months living expenses (food, mortgage, utilities taxes etc ..for worst case scenario - maybe even more -- since you won't be able to sell the house easily if you have to move for a new job) ..if on GC, I guess 6 months. depends on yr area, skills etc ..my guess only.
here is the latest from Wachovia ..(I know it is a repeat ..but to answer the original thread question for others who may want opinions) ..These economists are generally optimistic even when the situation is bad (since it hurts their own stock prices) ..the fact that they are pessimistic shows the real situation. In other words (my thoughts) - if your 485 is pending, then there is no hurry to buy a house ..deals will get better in the next 18 months. (after that house prices will be stagnant for a longer time -- this is for most locations or around 95% of US cities/towns)
------------
Don Truslow, chief risk officer of banking giant Wachovia (WB, Fortune 500), said home prices should fall through 2008 before finally hitting bottom in the middle of 2009. (Wachovia, the No. 4 U.S. bank by assets, reported an unexpected loss Monday.)
Sinai argues that until housing prices turn around, there isn't much hope for a pick-up in the economy because housing woes will continue be a drag on consumer spending and the credit markets.
"So much borrowing and lending was leveraged to [housing], that as long as values keep going down, the exposure of consumers, of financial institutions and of investors remains extremely high," he said.
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if you are technical person ..read this article ..not sure how he (Mr. Makin is a visiting scholar at the American Enterprise Institute.)comes up with 23% figure ..but I guess he must have done research.
http://online.wsj.com/article/SB120813349057411671.html?mod=opinion_main_comment aries
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As average house prices plummet – declining at a 23% annual rate over the three months ending in January – lenders are sharply curtailing access to mortgage-based, home-equity loans. The 15% of U.S. mortgage holders with negative equity in their homes have no access to credit, and 20% with marginal equity have limited access at best.Overall access to credit is contracting: Ask Americans trying to utilize home-equity lines or arrange student loans.
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Macaca
12-27 06:27 PM
A Who's Who of Indian sleaze
Leaks of tapped phone conversations reveal how corruption propels India's booming economy (http://www.guardian.co.uk/commentisfree/2010/dec/26/india-sleaze-corruption-economy)
By Praful Bidwai | The Guardian
The leak of hundreds of nearly 6,000 tapped telephone conversations between corporate lobbyist and British citizen Niira Radia and many of India's politicians, businessmen, bureaucrats and journalists has shocked the country. The tapes reveal the lobbying to assign the telecommunications portfolio to the politician A Raja, who sold mobile telephone licences at throwaway prices to favour particular companies, at an estimated loss of $12bn to $38bn to the exchequer � the highest-ever figure for an Indian corruption scandal.
Even more important, though, are the corporate lobbyists' attempts to influence government policies in a host of areas; to rig cabinet appointments; and to plant stories with high-profile journalists in which support for parochial business interests would be dressed up as "the national interest".
The tapes' dramatis personae read like a Who's Who of India, but despite the personalities involved attention is now turning to the larger story � the influence of business over politics, and lobbyists' intrusion into policy-making on scarce natural resources, licensing of industries, and "regulatory capture". Suddenly, the inner workings of government, the compromised roles of high officials and the limitless venality of businessmen stand exposed to the harsh light of public scrutiny.
The Radia tapes are the tip of the iceberg. They shock because they provide the clinching evidence for a few of the many recent scandals, including the astronomical corruption in contracts for the Commonwealth Games; mining and metallurgical projects that blatantly violate environmental regulations; corporate land grabs in the guise of export promotion zones; the razing of virgin tropical rainforest to make way for opulent housing; and the ripping up of mountain ranges to build dams.
Scandals and corruption are not new to India. Businessmen have long milked the exchequer through tax breaks, rigged licensing procedures and fraud. What is new is the neoliberal policy context, the quality and intimacy of business-politician-bureaucrat collusion bordering on a corporate takeover of government, and the growing plunder of public money. The thinktank Global Financial Integrity estimates that rich Indians have spirited abroad the equivalent of half of India's GDP over six decades. Illicit flows have greatly increased since the economy was liberalised in 1991. The notorious (often exaggerated) excesses of the "licence-permit raj" of the 1960s and 1970s pale beside the new crony-capitalism.
Sleaze is integral to India's growth, and one of its main drivers. The growth is skewed. Agriculture has stagnated, per capita food consumption has fallen, 200,000 indebted farmers have committed suicide. Industry has grown sluggishly and only forms about one-fourth of GDP. But services have boomed. The highest growth sectors are property, construction, telecoms and road transport � not IT. Capital accumulates through the privatisation of natural resources and dispossession of whole communities. In all these sectors, and in mining and metallurgical production, what counts is privileged access to natural resources and the national commons, most critically land, which is at the core of the government's discretionary powers.
"Liberalisation" has recast discretionary powers and allowed a new business-politics relationship to develop. Behind each of India's new billionaires is political patronage. Here lies the underbelly of India's growth: using crony-capitalist influence to corner mining leases, property development rights, construction permits and airwaves. It is not the free market, but manipulation and distortion, that propels growth.
One part of the seamy side of India's growth is well-known: persistent poverty, social bondage and economic servitude. The Radia tapes highlight another: sleaze and collusive business-politics relations that mock transparency, accountability, democratic policy-making and the public interest.
Leaks of tapped phone conversations reveal how corruption propels India's booming economy (http://www.guardian.co.uk/commentisfree/2010/dec/26/india-sleaze-corruption-economy)
By Praful Bidwai | The Guardian
The leak of hundreds of nearly 6,000 tapped telephone conversations between corporate lobbyist and British citizen Niira Radia and many of India's politicians, businessmen, bureaucrats and journalists has shocked the country. The tapes reveal the lobbying to assign the telecommunications portfolio to the politician A Raja, who sold mobile telephone licences at throwaway prices to favour particular companies, at an estimated loss of $12bn to $38bn to the exchequer � the highest-ever figure for an Indian corruption scandal.
Even more important, though, are the corporate lobbyists' attempts to influence government policies in a host of areas; to rig cabinet appointments; and to plant stories with high-profile journalists in which support for parochial business interests would be dressed up as "the national interest".
The tapes' dramatis personae read like a Who's Who of India, but despite the personalities involved attention is now turning to the larger story � the influence of business over politics, and lobbyists' intrusion into policy-making on scarce natural resources, licensing of industries, and "regulatory capture". Suddenly, the inner workings of government, the compromised roles of high officials and the limitless venality of businessmen stand exposed to the harsh light of public scrutiny.
The Radia tapes are the tip of the iceberg. They shock because they provide the clinching evidence for a few of the many recent scandals, including the astronomical corruption in contracts for the Commonwealth Games; mining and metallurgical projects that blatantly violate environmental regulations; corporate land grabs in the guise of export promotion zones; the razing of virgin tropical rainforest to make way for opulent housing; and the ripping up of mountain ranges to build dams.
Scandals and corruption are not new to India. Businessmen have long milked the exchequer through tax breaks, rigged licensing procedures and fraud. What is new is the neoliberal policy context, the quality and intimacy of business-politician-bureaucrat collusion bordering on a corporate takeover of government, and the growing plunder of public money. The thinktank Global Financial Integrity estimates that rich Indians have spirited abroad the equivalent of half of India's GDP over six decades. Illicit flows have greatly increased since the economy was liberalised in 1991. The notorious (often exaggerated) excesses of the "licence-permit raj" of the 1960s and 1970s pale beside the new crony-capitalism.
Sleaze is integral to India's growth, and one of its main drivers. The growth is skewed. Agriculture has stagnated, per capita food consumption has fallen, 200,000 indebted farmers have committed suicide. Industry has grown sluggishly and only forms about one-fourth of GDP. But services have boomed. The highest growth sectors are property, construction, telecoms and road transport � not IT. Capital accumulates through the privatisation of natural resources and dispossession of whole communities. In all these sectors, and in mining and metallurgical production, what counts is privileged access to natural resources and the national commons, most critically land, which is at the core of the government's discretionary powers.
"Liberalisation" has recast discretionary powers and allowed a new business-politics relationship to develop. Behind each of India's new billionaires is political patronage. Here lies the underbelly of India's growth: using crony-capitalist influence to corner mining leases, property development rights, construction permits and airwaves. It is not the free market, but manipulation and distortion, that propels growth.
One part of the seamy side of India's growth is well-known: persistent poverty, social bondage and economic servitude. The Radia tapes highlight another: sleaze and collusive business-politics relations that mock transparency, accountability, democratic policy-making and the public interest.
dartkid31
05-31 07:28 PM
I think Lou Dobbs is mostly comic relief for most of us at this point. The only tragedy in this scenario is that he has access to idiot boxes across the country for an hour eveyday, and there are people who wholeheartedly believe the drivel he spews everyday. :( CNN should be embarrassed.