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Politics : Don't Blame Me, I Voted For Kerry -- Ignore unavailable to you. Want to Upgrade?

To: miraje who wrote (2133)	2/13/2004 3:16:05 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 81568

Sure bookmark it. I have been saying for 3 years that offshoring would kill Bush's re-election chances. This is because as a supply chain architect and manager, I watched offshoring take hold in the back office of all these corps 3 years ago. First IT went, then admin/bookeepers, then paralegal, and now the most advanced high tech engineering positions. Meanwhile the Bush admin claimed "technology improvements/productivity" was the cause for the lack of new jobs. WRONG, there is more hiring than ever in india and we are less effective from a productivity standpoint than in the 90s but CEOs don't care because it is so cheap to do business this way. Finally, after years of jobs underperformance and HUGE deficits created mostly from tax receipts coming in lower than estimates, major economists like Steven Roach are seeing the light as to what the issue REALLY IS with the US economy. There will be no "new industry" to create jobs for those lost, because the new industries of internet and networking have moved R&D offshore. No capex recovery for the same reason. Just a slow drain on US wealth. If John Snow and Elaine Chau were in the middle of this process, they would understand it. But they aren't and they don't. In the extremely unlikely event that we get a few consecutive mos of job growth over 200K, I will suggest that you look at tax receipts which will tell the real story. With every engineer getting shipped offshore, even for new industries, the jobs created are retail and low wage service. Global: Offshoring Backlash Stephen Roach (New York) morganstanley.com