The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Ramsey Su who wrote (14174)	10/6/2003 3:56:26 PM
From: Lizzie Tudor	Read Replies (1) of 306849

the tech unemployment rate is higher than it has ever been... Silicon Valley is down to pre-1996 employment levels so yes, engineers are having difficulty with jobs. There is this key issue with offshoring and proponents won't own up to it. When we "offshored" IT, which is something underway at most large IT shops in the US, we also destroyed the market for lots of companies especially software. IT was the growth engine of the 90s. Oracle for example was a company who really pioneered offshoring. They built a HUGE R&D facility in india. When oracle's customers followed suit and moved offshore, oracle no longer had a premium market for most of its application products. My guess is that out of every 10 "seat licenses" oracle sells, 7 of them are in india now. So oracle killed their own market in their zeal to cut costs. One of the stupidest moves ever, really. Oracle stock hasn't rallied in months. I think chip companies win with globalization and a few other industries. So there are some winners.

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