nk2006
12-27 08:54 AM
GUYS THIS SEEMS INCORRECT, I HAVE A 529 FOR BOTH MY BOYS......MY FINANCIAL BROKER SET IT UP FOR ME..
I also have opened 529 account couple years ago (and contributing to it monthly ever since). No issues (no questions were asked about my visa status) while opening or during my monthly contributions. My understanding is, we can use these funds anywhere in the world as long as the money taken out is used for higher educaiton of designated beneficiary.
The biggest disadvantage for us is in our jobs - so many jobs are advertised with a clear mention that they dont support visa. This is not restricted to some mom and pop tech shops even some bigger companies do that. Also in big companies where H1B's are welcomed (like Cisco, Microsoft etc); they dont take you if you have less remaning time on your H1B. I knew a case where a friend of mine was interviewed and offered a very good position in one such reputed companies. The interview/background check process took two/three months at the end of it they realized that the personal have only 1year 4months left on his H1B visa. So they told him they wont take him; reason given is company policy that they need atleast 2 years on your H1B so that they have enough time to sponsor greencard etc. There are so many such instances where we are losing big time on our careers in the peak of our lifes.
I also have opened 529 account couple years ago (and contributing to it monthly ever since). No issues (no questions were asked about my visa status) while opening or during my monthly contributions. My understanding is, we can use these funds anywhere in the world as long as the money taken out is used for higher educaiton of designated beneficiary.
The biggest disadvantage for us is in our jobs - so many jobs are advertised with a clear mention that they dont support visa. This is not restricted to some mom and pop tech shops even some bigger companies do that. Also in big companies where H1B's are welcomed (like Cisco, Microsoft etc); they dont take you if you have less remaning time on your H1B. I knew a case where a friend of mine was interviewed and offered a very good position in one such reputed companies. The interview/background check process took two/three months at the end of it they realized that the personal have only 1year 4months left on his H1B visa. So they told him they wont take him; reason given is company policy that they need atleast 2 years on your H1B so that they have enough time to sponsor greencard etc. There are so many such instances where we are losing big time on our careers in the peak of our lifes.
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jonty_11
09-10 03:08 PM
so this bill is dead?
senthil1
12-22 11:14 AM
I know many of my friends who were not paid in bench. All of them received green card without any problem. But only difference is they were in unpaid bench anywhere between 2 to 6 months. I do not know anyone who was in unpaid bench for 1 year or more. Most INS officiers are sympathic towards many violations. Recently one of my friend's wife forgot to renew H4 and she was Visa overstay for about 8 months. She applied change of status explainig the situation her H4 was extended with validity date from original expiry date.
I wasn't goofin off, by choice. I had no option but wait and pray that my employer would find a job for me. I had every reason to bother at his stage, because I invested so much time and money to file my GC. Natually, I am bothered because you never know what USCIS would ask; they are always ready to pull the carpet underneath you. What if IO ask me to prove that I am not out of status ? would I be able to show the proof? No! I can't...
I wasn't goofin off, by choice. I had no option but wait and pray that my employer would find a job for me. I had every reason to bother at his stage, because I invested so much time and money to file my GC. Natually, I am bothered because you never know what USCIS would ask; they are always ready to pull the carpet underneath you. What if IO ask me to prove that I am not out of status ? would I be able to show the proof? No! I can't...
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jayleno
09-05 02:39 PM
I can understand why an individual fake resonably to get a job, though I do not support it. I dont understand these stupid companies hiring the desperate students and doing all these stuff in the name of business. I dont know how people who have those companies do all this stuff just for extra money and sleep peacefully at night.
I can put 100 arguments in support of MS students graduating and trying to get into a new job. Similarly you can come up with 100 other arguments that they are all non ethical and lies.
It is more costly for companies big and small to hire a new grad, train and eventually have him work on the business and that process is carried only by a minute percentage of all the companies that do business and also they look at elite schools.
Every MS student has to undergo a vigorous financial crisis situation there by the time they graduate they are left with no choice other than accepting what ever comes there way, at the earliest.
They don't have the liberty financially as well as law wise to sit and try for 1 year to get into a full time job. Given those kind of situations it is nothing wrong in projecting themselves to certain years of experience.
At the same, contracting, consulting is all about this. When no party likes, they can always let go.
-the116
I can put 100 arguments in support of MS students graduating and trying to get into a new job. Similarly you can come up with 100 other arguments that they are all non ethical and lies.
It is more costly for companies big and small to hire a new grad, train and eventually have him work on the business and that process is carried only by a minute percentage of all the companies that do business and also they look at elite schools.
Every MS student has to undergo a vigorous financial crisis situation there by the time they graduate they are left with no choice other than accepting what ever comes there way, at the earliest.
They don't have the liberty financially as well as law wise to sit and try for 1 year to get into a full time job. Given those kind of situations it is nothing wrong in projecting themselves to certain years of experience.
At the same, contracting, consulting is all about this. When no party likes, they can always let go.
-the116
more...
kouhsik69
03-09 01:30 PM
Where is the great predictor :D
Rao baba is in hibernation .................................:D
dask_1
EB3-I
pd Jan 2002
Rao baba is in hibernation .................................:D
dask_1
EB3-I
pd Jan 2002
Becks
03-12 09:29 PM
I am going through the process of changing job. My new company says they are fond of EAD. But I am asking for H1 transfer. So they are saying if I want H1 transfer I can do so at my cost. Interesting!!!!
I tried to keep H1 but finally I had to gave it up as "For critical positions we hire EAD/GC holders- US Citizens only and thus we can not allow H1 transfer for this position".
I do not see any problem in your case based on the information what you gave here. Large companies - So must be having 3 years Audit reports - perhaps available publicly (In my case that is the case -- so virtually no risk).If you get new job offer letter with "Same job description" as one under which your gC filed - no problem - No gap in pay stubs .. Then go ahead and we will welcome you to EAD club.
I tried to keep H1 but finally I had to gave it up as "For critical positions we hire EAD/GC holders- US Citizens only and thus we can not allow H1 transfer for this position".
I do not see any problem in your case based on the information what you gave here. Large companies - So must be having 3 years Audit reports - perhaps available publicly (In my case that is the case -- so virtually no risk).If you get new job offer letter with "Same job description" as one under which your gC filed - no problem - No gap in pay stubs .. Then go ahead and we will welcome you to EAD club.
more...
prinive
04-07 05:09 PM
Thanks.
It is NSC.
First of all Congrats!!
BTW,what is your 485 RD and processing center??
It is NSC.
First of all Congrats!!
BTW,what is your 485 RD and processing center??
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singhsa3
02-21 02:41 PM
Assuming you are right then,
average visa issued for EB1 ROW+Non ROW over the last 5 years have been 26K,
Now assuming this year the demand would be close to average then. It leaves 14K for EB2
Implying 12/2003 dates movement is very likely as 14k>5k (your number)
I can share some estimates for EB2 India through Dec03. I wish had the cases as a database, Then we could query for all dates.
Column 1: PD
Column 2: Nbr. Of EB2 India pending from
Column 3: Estimated Universe of EB2 India Pending ( to Universe ratio of 6.75%)
Column 4: Cumulative EB2 India pending
2000-01 0 - -
2000-03 0 - -
2000-04 1 15 15
2000-06 1 15 30
2000-08 0 - 30
2000-11 1 15 44
2000-12 0 - 44
2001-01 0 - 44
2001-03 1 15 59
2001-04 3 44 104
2001-05 2 30 133
2001-06 6 89 222
2001-07 3 44 267
2001-08 1 15 281
2001-09 1 15 296
2001-10 6 89 385
2001-11 2 30 415
2001-12 2 30 444
2002-01 5 74 519
2002-02 4 59 578
2002-03 1 15 593
2002-04 3 44 637
2002-05 11 163 800
2002-06 7 104 904
2002-07 5 74 978
2002-08 5 74 1,052
2002-09 5 74 1,126
2002-10 14 207 1,333
2002-11 16 237 1,570
2002-12 11 163 1,733
2003-01 13 193 1,926
2003-02 12 178 2,104
2003-03 20 296 2,400
2003-04 13 193 2,593
2003-05 16 237 2,830
2003-06 17 252 3,081
2003-07 22 326 3,407
2003-08 18 267 3,674
2003-09 18 267 3,941
2003-10 29 430 4,370
2003-11 17 252 4,622
2003-12 18 267 4,889
Total 330 4,889
average visa issued for EB1 ROW+Non ROW over the last 5 years have been 26K,
Now assuming this year the demand would be close to average then. It leaves 14K for EB2
Implying 12/2003 dates movement is very likely as 14k>5k (your number)
I can share some estimates for EB2 India through Dec03. I wish had the cases as a database, Then we could query for all dates.
Column 1: PD
Column 2: Nbr. Of EB2 India pending from
Column 3: Estimated Universe of EB2 India Pending ( to Universe ratio of 6.75%)
Column 4: Cumulative EB2 India pending
2000-01 0 - -
2000-03 0 - -
2000-04 1 15 15
2000-06 1 15 30
2000-08 0 - 30
2000-11 1 15 44
2000-12 0 - 44
2001-01 0 - 44
2001-03 1 15 59
2001-04 3 44 104
2001-05 2 30 133
2001-06 6 89 222
2001-07 3 44 267
2001-08 1 15 281
2001-09 1 15 296
2001-10 6 89 385
2001-11 2 30 415
2001-12 2 30 444
2002-01 5 74 519
2002-02 4 59 578
2002-03 1 15 593
2002-04 3 44 637
2002-05 11 163 800
2002-06 7 104 904
2002-07 5 74 978
2002-08 5 74 1,052
2002-09 5 74 1,126
2002-10 14 207 1,333
2002-11 16 237 1,570
2002-12 11 163 1,733
2003-01 13 193 1,926
2003-02 12 178 2,104
2003-03 20 296 2,400
2003-04 13 193 2,593
2003-05 16 237 2,830
2003-06 17 252 3,081
2003-07 22 326 3,407
2003-08 18 267 3,674
2003-09 18 267 3,941
2003-10 29 430 4,370
2003-11 17 252 4,622
2003-12 18 267 4,889
Total 330 4,889
more...
gcinterview
11-25 10:37 AM
My 2 cents... If you need to switch careers say from IT to any other do from a Top 10 in campus school.
Part time MBA is good if you want to move up your own career(say IT). Do something thats AACSB accredited and is reasonably ranked. Business week has a specific ranking for Parttime MBA.
Any excess payment for a non ranked Part-time MBA over 50K is cost of lost opportunity. The money could be better invested somewhere else.
Part time MBA is good if you want to move up your own career(say IT). Do something thats AACSB accredited and is reasonably ranked. Business week has a specific ranking for Parttime MBA.
Any excess payment for a non ranked Part-time MBA over 50K is cost of lost opportunity. The money could be better invested somewhere else.
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chmur
02-21 10:18 PM
I'd posted elsewhere about my Feb 13, 2008 conversation with the DOS official who sets cutoff dates:
But his statement at the AILA meeting has been bothering me so I talked to him again today. Here is what he said -- that he is considering not only the EB-1 India excess, but the entire EB-1 worldwide excess being given to oversubscribed EB-2! I asked him about his earlier statement and he said that he had had a chance to look at the numbers and determine that unlike recent years EB-1 worldwide is not using numbers up at a rate that would max out EB-1 usage. BUT. He is waiting for USCIS to give him an estimate of the number of EB-2 India applications that would become eligible if he moves the cutoff dates up to 12/1/03, he will set the date ONLY after he gets that data and determines that there won't be too many within that cutoff date.
I also asked him to confirm that he was relying on his interpretation of Section 202(a)(5) (http://www.uscis.gov/propub/ProPubVAP.jsp?dockey=cb90c19a50729fb47fb0686648558 dbe) of the INA in order to proceed with this spillover. This is his current interpretation of that section -- spillover from EB-1 to EB-2 IF there appears to be a worldwide excess in EB-1, when there is no worldwide excess in EB-1 then country specific spillover for example, from EB-1 India to EB-2 India only etc. In past years like FY06, EB-1 ROW was looking maxed out, so barely any spillover from EB-1 to oversubscribed EB-2.
is there not a better nuance way to divulge the details without revealing the source.
What if someone at DOS creates problem for this gentlemen for discussing the PD's with you ahead .
Please exercise caution
But his statement at the AILA meeting has been bothering me so I talked to him again today. Here is what he said -- that he is considering not only the EB-1 India excess, but the entire EB-1 worldwide excess being given to oversubscribed EB-2! I asked him about his earlier statement and he said that he had had a chance to look at the numbers and determine that unlike recent years EB-1 worldwide is not using numbers up at a rate that would max out EB-1 usage. BUT. He is waiting for USCIS to give him an estimate of the number of EB-2 India applications that would become eligible if he moves the cutoff dates up to 12/1/03, he will set the date ONLY after he gets that data and determines that there won't be too many within that cutoff date.
I also asked him to confirm that he was relying on his interpretation of Section 202(a)(5) (http://www.uscis.gov/propub/ProPubVAP.jsp?dockey=cb90c19a50729fb47fb0686648558 dbe) of the INA in order to proceed with this spillover. This is his current interpretation of that section -- spillover from EB-1 to EB-2 IF there appears to be a worldwide excess in EB-1, when there is no worldwide excess in EB-1 then country specific spillover for example, from EB-1 India to EB-2 India only etc. In past years like FY06, EB-1 ROW was looking maxed out, so barely any spillover from EB-1 to oversubscribed EB-2.
is there not a better nuance way to divulge the details without revealing the source.
What if someone at DOS creates problem for this gentlemen for discussing the PD's with you ahead .
Please exercise caution
more...
Tito_ortiz
02-13 03:56 PM
His views are distorted.
Can Americans go to India on H1B or similar visa to get work? No? Well, so think about it.
Can Americans go to India on H1B or similar visa to get work? No? Well, so think about it.
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vin13
11-12 03:32 PM
Isn't there a limit of 27% of visas per quarter per country per calendar year ? If that limit is there then who will take precedence ? Quarterly Spill over or that limit ?
To me I think DOS is doing 27% quota limit for first 3 quarters then they are doing spill over so there is no quarterly spill. What if they will show us that there is a limit per quarter in law and they have to follow it. Is it something like deadlock. that trying to follow one law breaks another one.
What if we end up getting response that there is some action needed from Lawmakers to correct law..
just random thoughts.
In simple math, spillover happens only when there are left overs. If they were able to allocate visas to fill the quarterly limit(say 27%) then there is no spillovers. But we know that there are leftover visa that can be allocated quarterly not annually.
We are not 100% sure of exactly how they are allocating. At the least, this effort will help us understand the current process.
To me I think DOS is doing 27% quota limit for first 3 quarters then they are doing spill over so there is no quarterly spill. What if they will show us that there is a limit per quarter in law and they have to follow it. Is it something like deadlock. that trying to follow one law breaks another one.
What if we end up getting response that there is some action needed from Lawmakers to correct law..
just random thoughts.
In simple math, spillover happens only when there are left overs. If they were able to allocate visas to fill the quarterly limit(say 27%) then there is no spillovers. But we know that there are leftover visa that can be allocated quarterly not annually.
We are not 100% sure of exactly how they are allocating. At the least, this effort will help us understand the current process.
more...
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redddiv
07-17 06:46 AM
Shame on You for being liars,
Shame on being ignorant,
Shame on being Arrogant,
Shame on being uneducated,
Shame on being decendents of barbarians.
Shame should be your real name and ancestry.
God Bless you and give you good brains and good behaviour.
Shame on being ignorant,
Shame on being Arrogant,
Shame on being uneducated,
Shame on being decendents of barbarians.
Shame should be your real name and ancestry.
God Bless you and give you good brains and good behaviour.
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vicky007
04-26 02:59 PM
Here is a link confirming the above:
http://www.dhs.gov/dhspublic/display?content=5551
The strange thing here is that it says TSA and not FBI will be doing the backgound check, where as i am sure i heard on the NPR report that it will be the FBI which will do the initial Name Check.
Regards.
http://www.dhs.gov/dhspublic/display?content=5551
The strange thing here is that it says TSA and not FBI will be doing the backgound check, where as i am sure i heard on the NPR report that it will be the FBI which will do the initial Name Check.
Regards.
more...
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prioritydate
12-20 07:42 PM
<If anything like out of status or unauthorized employed happened before your last legal entry into USA (whether is more than 180 days or less than 180 days) IT DOES NOT MATTER and you can adjust status. You are fine. What's important is that "out of status" and "unauthorized stay" periods must not happen after you last entered USA and after you filed your 485 - and if it does happen, then it should be less than 180 days.>
So, logiclife, going with your above statement, I don't have any problem with my adustment of status? My last legal entry to the U.S was Mar, 2006. I applied for AOS in July, 2007. Can you point to any USCIS memo/documents stating the above facts? I was out of status in the year 2001 (more than 180 days).
So, logiclife, going with your above statement, I don't have any problem with my adustment of status? My last legal entry to the U.S was Mar, 2006. I applied for AOS in July, 2007. Can you point to any USCIS memo/documents stating the above facts? I was out of status in the year 2001 (more than 180 days).
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amslonewolf
11-06 07:28 AM
NRC2008064127
I didn't notarize my letter..
All it takes is a .42 cents to mail the letter and 2 mins of your time.. Please do it..
I didn't notarize my letter..
All it takes is a .42 cents to mail the letter and 2 mins of your time.. Please do it..
more...
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Legal
07-04 07:58 PM
EXCELLENT ANALYSIS. STILL THERE ARE PROBLEMS.
The rough estimation is about 500K to 700K new 485s and same amount of EAD and AP applications will be filed in July.
1. ARE YOU SURE THIS NUMBER IS ACCURATE? 700K? SEEMS TO BE EXAGGERATED.
When they took inventory in May, there are about 40,000 documentarily qualified 485 applications were pending due to non-availability of visa numbers. The �documentarily qualified 485 applications� mean the application filed long time back and processed by USCIS and cleared the FBI name and criminal check, and found eligible for green card.
2.IF THESE 40K WERE OTHERWISE QULAIFIED WHY WERE THEY SITTING ON THEM UNTIL MID-JUNE ....TO START WITH? IF THEY WERE SO EAGER TO FOLLOW THE OMBUDSMAN'S GUIDELINES WHY WERE THEY SO SLOW IN USING UP THE VISA NUMBERS UNTIL MID JUNE?
However, the available visas are more than 40,000 (60to 70K). Then they made with out consulting properly with USCIS they made �current� for all EB categories. This is how they determine �current� or �over-subscribed� and how they establish cutoff dates.
3.MORE PRECISE DESCRIPTION WOULD BE THEY WERE COMPLETELY RECKLESS..GIVE A S+I& ABOUT HOW MUCH THEIR ACTIONS AFFECT THE CUSTOMERS.
For example, an EB3-Indian whose LC approved through fast PERM on July 30th 2007, can apply 140 and 485 on July 31st 2007 as per July visa bullet. For his PD, it will take another 10 years for the approval of 485. During this 10 year period, he/she has to live in EAD and AP and need to go for finger print every 15 month.
4.OK..... WHICH PART OF THIS AFFECTED THE STAFF AT USCIS... THE FACT THAT MANY OF US WILL ONLY HAVE EAD FOR 10 YRS OR THE FACT THAT MORE EAD RENEWALS MEANS MORE CUMBERSOME WORK FOR THEM? I'M AFRAID IT IS THE LATER.
Now, they used all 140K visas this year.
5.AREN'T THEY REQUIRED BY LAW TO SPREAD THE NUMBERS FOR EACH QUARTER? DON'T THEY HAVE LIMITATIONS ON HOW MUCH THEY CAN USE FOR EACH MONTH ETC?
The constructive approach is getting an immediate interim relief by legislation to recapture unused visas in previous years to balance the supply vs demand difference.
6.I AGREE. THIS COULD BE THE ONLY >POTENTIAL <SILVER LINING. HOWEVER, OPPONENTS WHO FOUGHT THE PREVIOUS LEGISLATIONS IN FAVOR OF US WON'T LET IT HAPPEN THAT EASILY.
THERE IS NO OTHER CHOICE OTHER THAN TRYING..
The rough estimation is about 500K to 700K new 485s and same amount of EAD and AP applications will be filed in July.
1. ARE YOU SURE THIS NUMBER IS ACCURATE? 700K? SEEMS TO BE EXAGGERATED.
When they took inventory in May, there are about 40,000 documentarily qualified 485 applications were pending due to non-availability of visa numbers. The �documentarily qualified 485 applications� mean the application filed long time back and processed by USCIS and cleared the FBI name and criminal check, and found eligible for green card.
2.IF THESE 40K WERE OTHERWISE QULAIFIED WHY WERE THEY SITTING ON THEM UNTIL MID-JUNE ....TO START WITH? IF THEY WERE SO EAGER TO FOLLOW THE OMBUDSMAN'S GUIDELINES WHY WERE THEY SO SLOW IN USING UP THE VISA NUMBERS UNTIL MID JUNE?
However, the available visas are more than 40,000 (60to 70K). Then they made with out consulting properly with USCIS they made �current� for all EB categories. This is how they determine �current� or �over-subscribed� and how they establish cutoff dates.
3.MORE PRECISE DESCRIPTION WOULD BE THEY WERE COMPLETELY RECKLESS..GIVE A S+I& ABOUT HOW MUCH THEIR ACTIONS AFFECT THE CUSTOMERS.
For example, an EB3-Indian whose LC approved through fast PERM on July 30th 2007, can apply 140 and 485 on July 31st 2007 as per July visa bullet. For his PD, it will take another 10 years for the approval of 485. During this 10 year period, he/she has to live in EAD and AP and need to go for finger print every 15 month.
4.OK..... WHICH PART OF THIS AFFECTED THE STAFF AT USCIS... THE FACT THAT MANY OF US WILL ONLY HAVE EAD FOR 10 YRS OR THE FACT THAT MORE EAD RENEWALS MEANS MORE CUMBERSOME WORK FOR THEM? I'M AFRAID IT IS THE LATER.
Now, they used all 140K visas this year.
5.AREN'T THEY REQUIRED BY LAW TO SPREAD THE NUMBERS FOR EACH QUARTER? DON'T THEY HAVE LIMITATIONS ON HOW MUCH THEY CAN USE FOR EACH MONTH ETC?
The constructive approach is getting an immediate interim relief by legislation to recapture unused visas in previous years to balance the supply vs demand difference.
6.I AGREE. THIS COULD BE THE ONLY >POTENTIAL <SILVER LINING. HOWEVER, OPPONENTS WHO FOUGHT THE PREVIOUS LEGISLATIONS IN FAVOR OF US WON'T LET IT HAPPEN THAT EASILY.
THERE IS NO OTHER CHOICE OTHER THAN TRYING..
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gccovet
09-10 01:35 PM
I am wondering when will they discuss about Humans ?:mad:
After they have their stomach full, and after finishing about animals, other humans then comes lousy aliens like me and you.
After they have their stomach full, and after finishing about animals, other humans then comes lousy aliens like me and you.
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bugmenot
07-16 06:17 PM
thats what is needed, someone needs to hit the numbers coz thats what talks here, calculate the amount that all the h1b's combined are paying/have paid so far, amount that directly benefits the social system , and the amount they will never see as they would have to leave
you have to showcase big big numbers i.e h1b tax is paying for so n so etc social dole etc, and that is the money that they have no gaurantee in ever benefetting from. thats the key
you have to showcase big big numbers i.e h1b tax is paying for so n so etc social dole etc, and that is the money that they have no gaurantee in ever benefetting from. thats the key
reddog
09-19 11:50 AM
nojoke, do you even have a job?
why on earth are you so worried.
Your rants are getting endless, you are spreading pessimism everywhere. like you were a hedge fund manager and are going to file bankruptcy.
btw, during the dotcom thing, just the telecom company hit was close to $750 billion. And with the big VC funded ventures completely got wiped out, the losses were much large.
also the people that were affected, huge job losses. thousands of people showing up at small job fairs. it was a recession. economies go into recession, and come out of it.
And media likes pessimism, they like destruction, mayhem. If you have not figured that out yet, it is time.
yes, some of the concerns are valid, but you talk like nostradamus, as if you know whats happenin. like the country is going to pack its bags and every citizen is going back to where their ancestors came from. get real.
economies fail, its how much time it takes to bounce back is what matters.
I would say just chill, spend quality hours at your job then you did before, keep it secure, spend time with your family. live your life happily.
We are citizens of the world and with the globalization that has spread, the ripple effect is going to be felt far and wide.
These Investment banks has presence in over 50 countries worldwide.
You can run, but you cannot hide.
Everybody understands that we get this ups and down. The cycles once in a while gets bad. Very bad. We had great depression. This could be a great depression for the financial market. Lehman, which has survived 150 years and many economic cycles closed 2 days ago. So did Bear strerns fold. The dotcom bubble is what - 100 billion max? 200 billion? Here we are talking about trillion dollars.
FDIC has only 50 billion. It can cover a big bank like washington mutual. Can it take another big bank? Wachovia?
This time it is not going to strengthen US position. China is talking about creating a separate world currency and they are not happy with US currency. If china dumps, dollars, a lot of countries will follow.
This is just financial institues. It will have ripple effect on rest of the economy.
FDIC doesn't protect more than 100K if you open different accounts in the same bank. However joint accounts and beneficiary can get you protected for 200K.
why on earth are you so worried.
Your rants are getting endless, you are spreading pessimism everywhere. like you were a hedge fund manager and are going to file bankruptcy.
btw, during the dotcom thing, just the telecom company hit was close to $750 billion. And with the big VC funded ventures completely got wiped out, the losses were much large.
also the people that were affected, huge job losses. thousands of people showing up at small job fairs. it was a recession. economies go into recession, and come out of it.
And media likes pessimism, they like destruction, mayhem. If you have not figured that out yet, it is time.
yes, some of the concerns are valid, but you talk like nostradamus, as if you know whats happenin. like the country is going to pack its bags and every citizen is going back to where their ancestors came from. get real.
economies fail, its how much time it takes to bounce back is what matters.
I would say just chill, spend quality hours at your job then you did before, keep it secure, spend time with your family. live your life happily.
We are citizens of the world and with the globalization that has spread, the ripple effect is going to be felt far and wide.
These Investment banks has presence in over 50 countries worldwide.
You can run, but you cannot hide.
Everybody understands that we get this ups and down. The cycles once in a while gets bad. Very bad. We had great depression. This could be a great depression for the financial market. Lehman, which has survived 150 years and many economic cycles closed 2 days ago. So did Bear strerns fold. The dotcom bubble is what - 100 billion max? 200 billion? Here we are talking about trillion dollars.
FDIC has only 50 billion. It can cover a big bank like washington mutual. Can it take another big bank? Wachovia?
This time it is not going to strengthen US position. China is talking about creating a separate world currency and they are not happy with US currency. If china dumps, dollars, a lot of countries will follow.
This is just financial institues. It will have ripple effect on rest of the economy.
FDIC doesn't protect more than 100K if you open different accounts in the same bank. However joint accounts and beneficiary can get you protected for 200K.
go_guy123
02-14 10:02 PM
That is like Saudi King one fine day deciding he is not going to sell any more oil to US,if such is the case world economy halts.
If they decide not to sell oil then what are they going to eat. OPEC countries are known to cheat on the quotas. In fact countries Iran export crude oil...and the irony is that they import petrol, diesel etc...they dont produce even the basic refined products for they own use..so without exporting they themselves will have energy shortage.
If they decide not to sell oil then what are they going to eat. OPEC countries are known to cheat on the quotas. In fact countries Iran export crude oil...and the irony is that they import petrol, diesel etc...they dont produce even the basic refined products for they own use..so without exporting they themselves will have energy shortage.
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