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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: limtex who wrote (39972)	8/8/2001 10:03:07 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 65232

IMMIGRANTS, MEXICO, PHILIPS CURVE, DIKES, ADDICTIVE SPENDING I love immigration and most immigrants perversely, the people I meet who seems most reluctant to relax immigration restrictions are themselves former immigrants to the USA (my mother included - from Ireland) they are not grubby, nor uneducated, nor a strain on the welfare state systems most I cross paths with are Indians in finance, electronics, and MBA AND THEY PAY A LOT OF TAXES Asians are also quite prevalent the common traits I find are meekness, gentleness, hardworking of course in the rural parts of California, a different story outside my professional circles, Hispanics are all over (esp in Boston west) as new influxers they are also meek, gentle, hardworking I used to giggle with govt reports and Fed reports about tight labor in many respects, labor was and still is tight but in specific areas of highly skilled like statistics, electrical engrs, fiberoptic engrs, etc and also like quality carpenters, roofers, plumbers, tradesmen but not for accountants, business mgrs, supply chain guys I giggled because despite all the reports of labor shortage, we never saw inflation I giggled because the govt statisticians DO NOT KNOW how to measure unemployment I giggle now because they dont count housewives re-entering the workforce, underemployed folks, and retired who want to be connected again but I laugh loud loud loud because the govt doesnt count the 51st state in their labor calculations: MEXICO Mexico abides by reliability reqmts, by product environmental guidelines, and more NAFTA accelerated the move of labor to Mexico between China and Mexico, a huge new labor pool is being tapped the Philips Curve is still a factor for gooney Federal Reserve expectations regarding unemployment's effect on inflation but they never get it they ignore and continue to ignore Mexico employment for certain things like mfg assembly is still cheap, cheap, cheap, and endlessly plentiful dunno what to say about speed of decline in economic slowdown it reminds me of a dike with cracks spreading CNBC thinks every new crack is good news what idiots !!! cracks started in telecom, spread quickly to tech, and now are being seen in services the only visibility I have is of the high levels of water which will soon flow downstream after more cracks develop, then more pillars break the biggest pillar is consumer spending I think the major news centers are missing a big story here ADDICTION IN CONSUMPTION, i.e. spending, lifestyle it reacts little to the reality of the household financial statement it reacts very much to cutoff of available borrowed funds / jim