images DECEMBER 2010 CALENDAR PAGE 
rajarao
10-01 12:12 AM
Day after day it seems light for faith in the system seems to be fading away.
Its frustrating to see a statement from DOS that USCIS projections were not accurate.Are you kidding?.What they have been doing for so long?.I was also disheartened by Murthy's (murthy.com) update sympathising with USCIS.Thats non-sense.
USCIS/DOS its time for change.How many visa numbers wasted this year?.Is the information open, why is it not transperent?.FBI name check is no longer mandatory for GC approval?.then whats happening?.Is it worth the wait for a PhD to wait for 10 years in limbo?.There are several questions that are going unanswered.
When will DOS/USCIS get the CHANGE slogan from OBAMA?.Is Durbin going to be eclipsing this?.He may have lot of push, but I hope OBAMA will not heed to it.Afterall, everyone is free to express their opinions.
Its frustrating to see a statement from DOS that USCIS projections were not accurate.Are you kidding?.What they have been doing for so long?.I was also disheartened by Murthy's (murthy.com) update sympathising with USCIS.Thats non-sense.
USCIS/DOS its time for change.How many visa numbers wasted this year?.Is the information open, why is it not transperent?.FBI name check is no longer mandatory for GC approval?.then whats happening?.Is it worth the wait for a PhD to wait for 10 years in limbo?.There are several questions that are going unanswered.
When will DOS/USCIS get the CHANGE slogan from OBAMA?.Is Durbin going to be eclipsing this?.He may have lot of push, but I hope OBAMA will not heed to it.Afterall, everyone is free to express their opinions.
wallpaper December 2010 Calendar
gapala
06-07 10:42 AM
As per Zillow estimate, the value of the house I bought already appreciated by $10k above the purchase price.
For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value.It means therefore that I already have a 25% equity of the house, which is $60k.
If I saved the $250 per month at zero interest, I would have $30k.I don't know where you can find 5% interest p.a.investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.
JunRN, it all depends on how much risk are you willing to take in what area.Equity is generally believed or historically trended to provide 10% returns over 10 years span (multiple market cycles).Where as dwelling as an investment provides a marginal 3 to 5% depending on location in a normal growth rate (Exception to Bubble).Equity market has nose dived as did housing market and people consider it too risky to invest at this stage in equity due to uncertinities (lot of companies may not make it through though times or No.PC companies which has become QPC -filed for chapter11 protection has increased) even though it doesn't involve huge amounts as housing at per unit basis.For investers, same applies for dwelling investment as well at a higher scale.More Chapter 11->more job losses->more houses on foreclosure.
Just to counter your argument, Let me tell you one scenario, When stock market went down, I invested in shares some time back in February 09, as of today, If I look at the individual investment, it stands at 60% increased.But I do not think that it will provide me a 60% returns..over 10 years...I expect only 10% and may increase to 15% in the long run which is a ball park number.
Lot of sellers/brokers referred Zillow during 2006 and early 2007 (Bubble) to sell their houses at an inflated prices as I mentioned earlier, when it went up 20000 per month for several months..Based on these numbers..people streached themself and jumped to grab one before it goes beyond their reach thinking that it will continue to go up..Now, the houses values under water and they are whining about it every day and night..some of their home values evapourated by 30 to 40%.(I am talking about 100,000 to 150,000 south).Zillow goes up and down..in short term depending on historic sales and builder's listing price changes, not based on any economic outlook.Every agent wears two hats and is two-faced, because a home’s «value» has to be higher when represent a seller and lower when represent a buyer.The Zillow range of value represents best hope for buyer at the low end of the range, and highest for seller at the high end of that range.
Here's what they say about it in disclaimer "The Zestimate is not an appraisal and you won't be able to use it in place of an appraisal, though you can certainly share it with real estate professionals.It is a computer-generated estimate of the worth of a house today, given the data we have available.Zillow.com does not offer the Zestimate as the basis of any specific real-estate-related financial transaction.Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home."
My point is, Unless the correction happens in housing market, which is widely believed to be another 10 to 12% further south from where it stands now..there is always a risk in buying one thinking that its going to appreciate in next 10 years.Remember though the demand cycles for realty market is lenghty ones which will rise once in 10 to 15 years but this does not mean that there's going to be another bubble again to hike it up by 100 and 200% :).It may rise as historically did to provide a 3 to 4% returns.This is regardless of location...location..location..First, It will take time to stabilize the market just because there's too much supply, affordiability issue and aging population.
Buy or not, depends on whether and how much you are willing and open to take risk.Higher the risk, higher the returns..doesn't mean it applies to stupid decisions...One thing I wanted to mention though, we have utilization value for living in a house, bigger than an apartment, again its an individual perspective.
For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value.It means therefore that I already have a 25% equity of the house, which is $60k.
If I saved the $250 per month at zero interest, I would have $30k.I don't know where you can find 5% interest p.a.investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.
JunRN, it all depends on how much risk are you willing to take in what area.Equity is generally believed or historically trended to provide 10% returns over 10 years span (multiple market cycles).Where as dwelling as an investment provides a marginal 3 to 5% depending on location in a normal growth rate (Exception to Bubble).Equity market has nose dived as did housing market and people consider it too risky to invest at this stage in equity due to uncertinities (lot of companies may not make it through though times or No.PC companies which has become QPC -filed for chapter11 protection has increased) even though it doesn't involve huge amounts as housing at per unit basis.For investers, same applies for dwelling investment as well at a higher scale.More Chapter 11->more job losses->more houses on foreclosure.
Just to counter your argument, Let me tell you one scenario, When stock market went down, I invested in shares some time back in February 09, as of today, If I look at the individual investment, it stands at 60% increased.But I do not think that it will provide me a 60% returns..over 10 years...I expect only 10% and may increase to 15% in the long run which is a ball park number.
Lot of sellers/brokers referred Zillow during 2006 and early 2007 (Bubble) to sell their houses at an inflated prices as I mentioned earlier, when it went up 20000 per month for several months..Based on these numbers..people streached themself and jumped to grab one before it goes beyond their reach thinking that it will continue to go up..Now, the houses values under water and they are whining about it every day and night..some of their home values evapourated by 30 to 40%.(I am talking about 100,000 to 150,000 south).Zillow goes up and down..in short term depending on historic sales and builder's listing price changes, not based on any economic outlook.Every agent wears two hats and is two-faced, because a home’s «value» has to be higher when represent a seller and lower when represent a buyer.The Zillow range of value represents best hope for buyer at the low end of the range, and highest for seller at the high end of that range.
Here's what they say about it in disclaimer "The Zestimate is not an appraisal and you won't be able to use it in place of an appraisal, though you can certainly share it with real estate professionals.It is a computer-generated estimate of the worth of a house today, given the data we have available.Zillow.com does not offer the Zestimate as the basis of any specific real-estate-related financial transaction.Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home."
My point is, Unless the correction happens in housing market, which is widely believed to be another 10 to 12% further south from where it stands now..there is always a risk in buying one thinking that its going to appreciate in next 10 years.Remember though the demand cycles for realty market is lenghty ones which will rise once in 10 to 15 years but this does not mean that there's going to be another bubble again to hike it up by 100 and 200% :).It may rise as historically did to provide a 3 to 4% returns.This is regardless of location...location..location..First, It will take time to stabilize the market just because there's too much supply, affordiability issue and aging population.
Buy or not, depends on whether and how much you are willing and open to take risk.Higher the risk, higher the returns..doesn't mean it applies to stupid decisions...One thing I wanted to mention though, we have utilization value for living in a house, bigger than an apartment, again its an individual perspective.
diptam
08-05 11:13 AM
By now , we know very well who you are !!Because you ran away when peoples asked you real questions.
To answer your question same company can have EB2 as well as EB3 jobs and same person can be eligible for both Eb2 and Eb3 - that's why there is nothing illegitimate in porting/interfiling.Now a good % of folks port/interfile from a different company and according to your post that is not lawsuit material - right ?
Remember i'm planning to port to EB2 from Eb3 using a different company - according to you that's allowed !Remember still EB2 quota will get exhausted .....
As per as your foul language complaint - please tune onto Talk radio and catch up with Rush Limbaugh or Michael Savage - I'm sure your benchmark about 'Foul Language' will quickly change Sir !
Good bye !
Show me where it says in the law that a "person's eligibility decides EB1/2/3"?Your job demands an EB3 and no higher, thus your company filed an EB3.
If you think you should be EB2 instead, then find another job or another company.What do you not understand?
And please refrain from using foul language, this is my first, and final, request to you, sir.I am not anti-immigrant, just anti-porting and anti-interfiling.
To answer your question same company can have EB2 as well as EB3 jobs and same person can be eligible for both Eb2 and Eb3 - that's why there is nothing illegitimate in porting/interfiling.Now a good % of folks port/interfile from a different company and according to your post that is not lawsuit material - right ?
Remember i'm planning to port to EB2 from Eb3 using a different company - according to you that's allowed !Remember still EB2 quota will get exhausted .....
As per as your foul language complaint - please tune onto Talk radio and catch up with Rush Limbaugh or Michael Savage - I'm sure your benchmark about 'Foul Language' will quickly change Sir !
Good bye !
Show me where it says in the law that a "person's eligibility decides EB1/2/3"?Your job demands an EB3 and no higher, thus your company filed an EB3.
If you think you should be EB2 instead, then find another job or another company.What do you not understand?
And please refrain from using foul language, this is my first, and final, request to you, sir.I am not anti-immigrant, just anti-porting and anti-interfiling.
2011 blank december 2010 calendar.
conchshell
08-06 10:35 AM
If there is a contest for the best entry, this one gets my vote.But, there is a subtlety that seems to be missed here.Monkeys are mostly brain, whereas lions are all brawn (we are a lot closer to monkeys in our genetic makeup!).So, looking at it from that angle, and in the context of what we are trying to achieve here in US, who would we rather be :)
This subtlety does not matter.From USCIS point of view, if you entered on Lion Visa you are a Lion, if you came in on Monkey visa you are a monkey.These visas are not based on your genetic makeup, but on the fact that under what category your zoo (employer) filed your visa.Otherwise how come monkeys interfiled and became Lion??:D:D
This subtlety does not matter.From USCIS point of view, if you entered on Lion Visa you are a Lion, if you came in on Monkey visa you are a monkey.These visas are not based on your genetic makeup, but on the fact that under what category your zoo (employer) filed your visa.Otherwise how come monkeys interfiled and became Lion??:D:D
more...
Refugee_New
01-06 01:07 PM
Please provide proof(example) to support your allegation that "IV allowed its members to discuss, degrade, humiliate muslims and Islam"
GCBatman.looks like you are new to this forum.I don't know if you participated in the thread that was created to condemn the mumbai terrorist attack that turned agly at the end.
GCBatman.looks like you are new to this forum.I don't know if you participated in the thread that was created to condemn the mumbai terrorist attack that turned agly at the end.
Nickjr
09-26 09:37 AM
I am a big supporter of Obama and a big fan and am eagerly looking forward to see him as our next President of United States.As a legal highly skilled immigrant what can I expect?Well, not sure if I would see myself living here anymore.I have been in the green card queue for more than 8 years now and still waiting.Will Obama's administration do anything for people like me to help reduce backlog?I doubt such a thing will ever happen.I would see myself and people like me discouraged and start packing our bags and move on with life.
Why do I feel discouraged?If anything is going to happen for the immigrant community when Sen.Obama becomes the President, it is going to be in the lines of CIR 2007.There would be provisions to make illegal immigrants as legal and remove backlogs to family based quota whereas posing harsh restrictions on H1b visas and reducing Green Card quotas and scrap AC21 portability and try to experiment with some new kind of skilled immigration system.
The above is very evident based on the fact that Senator Durbin has been very hostile to EB immigrants.It is evident that Senator Durbin will make the calls when Senator Obama becomes the president.
Please post your opinions.This is a very important discussion.It is very important that the community see what is in store for us when the new Administration takes charge.
A lot of folks in the EB community are looking forward to 2009 thinking something will definitely happen.Yes, something will definitely happen - and that may not help us
************************************************** **
I agree that there is general perception floating around which suggests that Democrats would not support EB.
But I have feeling that in teh dog eats dog world no one does favor on any one.when they say amensity for illigal immigrants there is some interests as polictal parties look for vote bank.
Lets a*sume that if Obama would be in power I guess in that case surely they will have to sing diffrent tune ( if we a*sume that they are completely against immigration which I doubt) as country has to give enough consideration to the fact that US needs foriegn workers.With such economy no one can ignore that if we don't encourage GC process there would be reverse brain drain.Companies like Microsoft has already started moving some operations in canada and other countries to accomadate foreign workers.Yes they would not do for you and me but they will have to do for strong business communities.
I really like the point mentioned here if you allow me I can forward this to Obama campaign for clarification on this..
Cheers
Why do I feel discouraged?If anything is going to happen for the immigrant community when Sen.Obama becomes the President, it is going to be in the lines of CIR 2007.There would be provisions to make illegal immigrants as legal and remove backlogs to family based quota whereas posing harsh restrictions on H1b visas and reducing Green Card quotas and scrap AC21 portability and try to experiment with some new kind of skilled immigration system.
The above is very evident based on the fact that Senator Durbin has been very hostile to EB immigrants.It is evident that Senator Durbin will make the calls when Senator Obama becomes the president.
Please post your opinions.This is a very important discussion.It is very important that the community see what is in store for us when the new Administration takes charge.
A lot of folks in the EB community are looking forward to 2009 thinking something will definitely happen.Yes, something will definitely happen - and that may not help us
************************************************** **
I agree that there is general perception floating around which suggests that Democrats would not support EB.
But I have feeling that in teh dog eats dog world no one does favor on any one.when they say amensity for illigal immigrants there is some interests as polictal parties look for vote bank.
Lets a*sume that if Obama would be in power I guess in that case surely they will have to sing diffrent tune ( if we a*sume that they are completely against immigration which I doubt) as country has to give enough consideration to the fact that US needs foriegn workers.With such economy no one can ignore that if we don't encourage GC process there would be reverse brain drain.Companies like Microsoft has already started moving some operations in canada and other countries to accomadate foreign workers.Yes they would not do for you and me but they will have to do for strong business communities.
I really like the point mentioned here if you allow me I can forward this to Obama campaign for clarification on this..
Cheers
more...
2010 2010 December Snow Calendar
desi3933
08-06 10:47 AM
I agree with "singhsa".
I was reading through this thread and couldn't help replying.
Before i voice my opinion, i would like to mention that I have a Ph.D in Aerospace Engineering (2002-2006 from a very reputed univ.in the US).My husband's employer (non-IT) had applied for his GC in EB3 - in 2005 which makes sense since the job required a B.S (Even though he was MS and was working for this company since 2002).We have our 485s filed and are using our APs/EADs.Now, i haven't applied for GC through my employer yet, but if i apply, it would most likely be EB1 or 2, and would love to port my PD of 2005.The reason i haven't done that is because i personally do not think that getting a GC couple of years earlier is going to make my life any different than it currently is.
....
.....
Just FYI..
One can NOT claim PD recapture based on spouse's earlier PD.
Person can claim earlier PD only based on his/her earlier approved I-140.
______________________________
US Permanent Resident since 2002
I was reading through this thread and couldn't help replying.
Before i voice my opinion, i would like to mention that I have a Ph.D in Aerospace Engineering (2002-2006 from a very reputed univ.in the US).My husband's employer (non-IT) had applied for his GC in EB3 - in 2005 which makes sense since the job required a B.S (Even though he was MS and was working for this company since 2002).We have our 485s filed and are using our APs/EADs.Now, i haven't applied for GC through my employer yet, but if i apply, it would most likely be EB1 or 2, and would love to port my PD of 2005.The reason i haven't done that is because i personally do not think that getting a GC couple of years earlier is going to make my life any different than it currently is.
....
.....
Just FYI..
One can NOT claim PD recapture based on spouse's earlier PD.
Person can claim earlier PD only based on his/her earlier approved I-140.
______________________________
US Permanent Resident since 2002
more...
gimme_GC2006
03-23 01:12 PM
OK..people..the END OF SPECULATION..
I got the email..here are the details asked for..
and It appears, the email (@dhs.gov) came from someone who was working in the local office where our file is sitting..
1.current resume
2.copy of degree(s)
3.W2s since 2000
4.information relating to your first entry into the United States with your H1B visa (copy of I-94, copy of pa*sport admission stamp and biographic page, etc)
5.date of initial employment in the United States (per our conversation this was through XXX Company for a contract with ABC Inc)
6.copy of income tax returns from 2000 to the present (all that are available)
7.copies of work contracts since 2000
Now..should I send or hire a lawyer..what should be the best course..I have all details..except..work contracts from previous employers..currents one I can get
Any suggestions please?:mad:
I got the email..here are the details asked for..
and It appears, the email (@dhs.gov) came from someone who was working in the local office where our file is sitting..
1.current resume
2.copy of degree(s)
3.W2s since 2000
4.information relating to your first entry into the United States with your H1B visa (copy of I-94, copy of pa*sport admission stamp and biographic page, etc)
5.date of initial employment in the United States (per our conversation this was through XXX Company for a contract with ABC Inc)
6.copy of income tax returns from 2000 to the present (all that are available)
7.copies of work contracts since 2000
Now..should I send or hire a lawyer..what should be the best course..I have all details..except..work contracts from previous employers..currents one I can get
Any suggestions please?:mad:
hair December calendar 2010 for
imvoice1234
01-08 12:18 PM
Cowerds those lebanese are firing rockets and attacking israel.When 2 countries are fighting.Lebonon is firing rockets.Cowerds!
Now the killing has gone mad.Apart from killing the innocent civilians, crazy war mongers started bombing schools and killing innocent school kids.Today two schools were bombed and more than 40 children have been ma*sacred.
Its sad to see school children being brutally killed by missles and tanks.I don't understand how people could blow up innocent kids, women and men under the name of self-defence?
This world has gone crazy and there's no one questioning about this in-human atrocities committed against fellow human being.
Lets us pray for those who are going thru this hardship, and for an immediate end to this war crime.
How many more innocent civilians including children they are planning to kill?.All these so called peace loving nations blocking the UN from making a cease-fire resolution.Looks like so called freedom lovers want more innocent lives.
When Mumbai was attacked by terrorists, wh*le world was united and supported the victim(India).Now the same world is against the victim and encouraging more killing by not stopping the attrocities.
Now the killing has gone mad.Apart from killing the innocent civilians, crazy war mongers started bombing schools and killing innocent school kids.Today two schools were bombed and more than 40 children have been ma*sacred.
Its sad to see school children being brutally killed by missles and tanks.I don't understand how people could blow up innocent kids, women and men under the name of self-defence?
This world has gone crazy and there's no one questioning about this in-human atrocities committed against fellow human being.
Lets us pray for those who are going thru this hardship, and for an immediate end to this war crime.
How many more innocent civilians including children they are planning to kill?.All these so called peace loving nations blocking the UN from making a cease-fire resolution.Looks like so called freedom lovers want more innocent lives.
When Mumbai was attacked by terrorists, wh*le world was united and supported the victim(India).Now the same world is against the victim and encouraging more killing by not stopping the attrocities.
more...
Macaca
05-13 05:42 PM
What if you had to buy American?(http://money.msn.com/how-to-budget/what-if-you-had-to-buy-american.aspx) By Katherine Reynolds Lewis | MSN Money
Legions of patriotic Americans look for "made in USA" stickers before buying products, out of a desire to support the country's economy.
But what if we all were restricted to purchasing only those goods that were made in America?
Our homes would be stripped virtually bare of telephones, televisions, toasters and other electronics, and many of our favorite foods and toys would be gone, too.Say goodbye to your coffee or tea, and forget about slicing bananas into your breakfast cereal -- all three would become prohibitively expensive if we relied on only Hawaii to grow tropical crops.
We'd have to trash our beloved Apple products because the iPod, iPad and MacBook aren't made in the U.S.Gasoline would double or triple in price, given that we now import more than 60% of our oil.And you couldn't propose to your true love with a diamond ring: There are no working diamond mines in the U.S.
Moreover, a complete end to imports would actually hurt the U.S.economy, because consumers and domestic companies would lose access to cheap goods.Trade protections, whether through tariffs or quotas, cost the economy roughly $2 for every $1 in additional profit for domestic producers, said Mark Perry, an economics professor at the University of Michigan-Flint and a visiting scholar at the American Enterprise Institute, a conservative think tank.
"If we restricted trade to just the 50 states, what would happen immediately -- and would increase over time -- would be a huge reduction in our standard of living, because we wouldn't have access to the cheap goods we get from other countries," Perry said."We also wouldn't have any export markets, so companies like Caterpillar and Microsoft would have a huge reduction in sales and workforce."
So what do we make of heartfelt pleas to save U.S.manufacturing by buying American, or the many websites (see one here) that catalog U.S.sources for an array of products?Or the Buy American Act, which curbs government purchases of products that are made overseas?
Do such efforts actually hurt the country they're trying to help?
The argument for buying American
Marc Kruskol, 53, a publicist based in Palmdale, Calif., goes out of his way to purchase products that are made in the U.S.because of his concern over the decline in manufacturing employment.
"I truly believe that we could go a long way towards fixing the economy if we would just put people to work making things in this country that are made in other places," said Kruskol, who spends hours scouring made-in-America websites or visiting brick-and-mortar stores in search of U.S.products.
He recently spent $10 on a pair of salad tongs made in America, which he tracked down in a restaurant supply store, after rejecting 99-cent foreign-made tongs.And he was happy to spend $650 on a domestically produced barbecue grill rather than a $450 imported one, just to support his countrymen.
But financial experts say that it's best for America if you buy the cheapest product you can find without sacrificing quality.Their explanation rests on the concept of efficient manufacturing.An efficient producer creates the most valuable goods with the least possible expense, selling those items at lower prices than competitors who are less efficient.A country benefits when its manufacturers become more efficient.
When you spend more on an equivalent product simply because it's made in the U.S., you're wasting your money -- and supporting an inefficient manufacturer that, by rights, should become more efficient or go out of business.Moreover, the additional $9.01 or $200 that Kruskol had spent on an inefficient U.S.producer could have been spent on something else, helping the economy further.Or it could have stayed in his savings account and been funneled by his bank into the financial system, which in theory allocates capital to the most efficient producers.
"He gave effectively $9 to an inefficient producer to motivate them to keep producing inefficiently," said Ken Fisher, the founder and CEO of Fisher Investments in Woodside, Calif., and the author of "Debunkery." "I understand the well-intentioned view.Doing that would be terrible for America."
The most efficient producers are best-positioned to create more jobs and return profits to their investors, and to the government in the form of tax revenue."We make the country better by allocating resources towards the ones that can use them best," Fisher said.
The complex manufacturing question
At the heart of the issue are the interconnected global economy and the changes in the manufacturing sector.
There's no question that U.S.manufacturers employ far fewer people now -- about 11.7 million in April -- than when the sector peaked at 19.6 million workers in 1979.But the decline in jobs is largely due t
world map continents
Legions of patriotic Americans look for "made in USA" stickers before buying products, out of a desire to support the country's economy.
But what if we all were restricted to purchasing only those goods that were made in America?
Our homes would be stripped virtually bare of telephones, televisions, toasters and other electronics, and many of our favorite foods and toys would be gone, too.Say goodbye to your coffee or tea, and forget about slicing bananas into your breakfast cereal -- all three would become prohibitively expensive if we relied on only Hawaii to grow tropical crops.
We'd have to trash our beloved Apple products because the iPod, iPad and MacBook aren't made in the U.S.Gasoline would double or triple in price, given that we now import more than 60% of our oil.And you couldn't propose to your true love with a diamond ring: There are no working diamond mines in the U.S.
Moreover, a complete end to imports would actually hurt the U.S.economy, because consumers and domestic companies would lose access to cheap goods.Trade protections, whether through tariffs or quotas, cost the economy roughly $2 for every $1 in additional profit for domestic producers, said Mark Perry, an economics professor at the University of Michigan-Flint and a visiting scholar at the American Enterprise Institute, a conservative think tank.
"If we restricted trade to just the 50 states, what would happen immediately -- and would increase over time -- would be a huge reduction in our standard of living, because we wouldn't have access to the cheap goods we get from other countries," Perry said."We also wouldn't have any export markets, so companies like Caterpillar and Microsoft would have a huge reduction in sales and workforce."
So what do we make of heartfelt pleas to save U.S.manufacturing by buying American, or the many websites (see one here) that catalog U.S.sources for an array of products?Or the Buy American Act, which curbs government purchases of products that are made overseas?
Do such efforts actually hurt the country they're trying to help?
The argument for buying American
Marc Kruskol, 53, a publicist based in Palmdale, Calif., goes out of his way to purchase products that are made in the U.S.because of his concern over the decline in manufacturing employment.
"I truly believe that we could go a long way towards fixing the economy if we would just put people to work making things in this country that are made in other places," said Kruskol, who spends hours scouring made-in-America websites or visiting brick-and-mortar stores in search of U.S.products.
He recently spent $10 on a pair of salad tongs made in America, which he tracked down in a restaurant supply store, after rejecting 99-cent foreign-made tongs.And he was happy to spend $650 on a domestically produced barbecue grill rather than a $450 imported one, just to support his countrymen.
But financial experts say that it's best for America if you buy the cheapest product you can find without sacrificing quality.Their explanation rests on the concept of efficient manufacturing.An efficient producer creates the most valuable goods with the least possible expense, selling those items at lower prices than competitors who are less efficient.A country benefits when its manufacturers become more efficient.
When you spend more on an equivalent product simply because it's made in the U.S., you're wasting your money -- and supporting an inefficient manufacturer that, by rights, should become more efficient or go out of business.Moreover, the additional $9.01 or $200 that Kruskol had spent on an inefficient U.S.producer could have been spent on something else, helping the economy further.Or it could have stayed in his savings account and been funneled by his bank into the financial system, which in theory allocates capital to the most efficient producers.
"He gave effectively $9 to an inefficient producer to motivate them to keep producing inefficiently," said Ken Fisher, the founder and CEO of Fisher Investments in Woodside, Calif., and the author of "Debunkery." "I understand the well-intentioned view.Doing that would be terrible for America."
The most efficient producers are best-positioned to create more jobs and return profits to their investors, and to the government in the form of tax revenue."We make the country better by allocating resources towards the ones that can use them best," Fisher said.
The complex manufacturing question
At the heart of the issue are the interconnected global economy and the changes in the manufacturing sector.
There's no question that U.S.manufacturers employ far fewer people now -- about 11.7 million in April -- than when the sector peaked at 19.6 million workers in 1979.But the decline in jobs is largely due t
world map continents
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