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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Lizzie Tudor who wrote (8050)1/11/2003 11:40:52 PM
From: get shortyRead Replies (3) of 306849
 
Just for the record, I am not a champion of the H1B program.

The H1B program is really no different than any other govt. program that was created out of a real need, only to become a clusterf**k. It was subject to the same abuses and outright frauds as welfare, social security, medicare, unemployment, etc. Someone will always find a way to work the system to make a buck.

When you have declining numbers of engineering and science graduates, preceding a period of historically low unemployment, you get a genuine shortage of human capital. It's that simple.

"I believe that executives in silicon valley (who lobbied heavily for the program) beleived that they could get PhD's and other highly creative intelligent types from india for 50K/year."

I'll take the opposite side of that argument. I believe the executives thought there had to be some kind of alternative to paying a newly graduated PhD, $100K plus a $15k sign-on bonus, to start. How long do you think US companies remain globally competitive with pay structured like that?

From Fatty:

"I wish that was the reality. But the truth was that the bubble economy created lots of useless technologies/services so that any body who knew how to type could easily get a $75k job.?

Amen to that.
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