I think the reason we don't have foreign visa workers flooding the medical profession at ALL levels (not just doctor, but pharmacist, nurse, MD, etc)- is primarily because the lobbyists in washington for these various groups have an incentive to *protect* the profession, not destroy it. A totally different beast in engineering. The corporate lobbies have an incentive to get engineering wages down to as low as possible. Consequently, the profession is damaged.
What the CEOs don't get though, is that they engineered their own bear market which will endure for years, because bull markets are in large part psycological and when the jobs in an industry go down, the industry goes down.
I know of at least 2 CEO firings recently for stock-non performance. If Carly Fiorina had a $50 stock price instead of the languishing stock price she had, maybe she wouldn't have been fired. But she had such a hand in killing the engineering job market in silicon valley, its poetic justice actually. I wonder if she makes the connection.
I can promise you that if we ever get a booming job market like we had in the 90s, for white collar, highly paid jobs (not the Bush economy McJobs), then the stock market will rise again- not before though. |
