Macaca
05-01 05:56 PM
In growing Chinese dominance, a wake-up call for America (http://www.washingtonpost.com/opinions/in-growing-chinese-dominance-a-wake-up-call-for-america/2011/04/27/AF7i3zGF_story.html) By Arvind Subramanian | The Washington Post
The world’s two economic superpowers will meet soon for the third installment of their Strategic and Economic Dialogue. Beyond the specifics, the real issue for the United States and the world is China’s looming economic dominance. President Obama’s State of the Union address, after President Hu Jintao’s visit in January, showed the level of anxiety that policymakers feel about China as a potential rival and perhaps a threat, with growing economic, military and political power, including its bankrolling of American debt. But judging from the reaction to the president’s speech, that threat is not viewed as imminent. The same was said, some pointed out, of the rise of Russia and Japan, 40 and 20 years ago, respectively, and those threats turned out to be false alarms.
But what if the threat is actually greater than policymakers suppose?
According to the International Monetary Fund, for example, total U.S. gross domestic product in 2010 was $14.7 trillion, more than twice China’s $5.8 trillion, making the average American about 11 times more affluent than the average Chinese. Goldman Sachs does not forecast the Chinese economy overtaking that of the United States until 2025 at the earliest. Americans also draw satisfaction from their unmatched strengths of an open society, an entrepreneurial culture, and world-class universities and research institutions.
But these beliefs may be overly sanguine. The underlying numbers that contribute to them are a little misleading because they are based on converting the value of goods and services around the world into dollars at market exchange rates.
It has long been recognized that using the market exchange rate to value goods and services is misleading about the real costs of living in different countries. Several goods and services that are not traded across borders (medical care, retail services, construction, etc.) are cheaper in poorer countries because labor is abundant. Using the market exchange rate to compare living standards across countries understates the benefits that citizens in poor countries enjoy from having access to these goods and services. Estimates of purchasing power parity take account of these differing costs and are an alternative, and for some purposes a better, way of computing and comparing standards of living and economic output across countries.
My calculations (explained in greater detail on the Peterson Institute Web site) show that the Chinese economy in 2010, adjusted for purchasing power, was worth about $14.8 trillion, surpassing that of the United States. And, on this basis, the average American is “only” four times as wealthy as the average Chinese, not 11 times as rich, as the conventional numbers suggest.
The different approaches to valuing economic output and resources are not just of theoretical interest. They have real-world significance, especially in the balance of power and economic dominance. The conventional numbers would suggest that the United States has three times the capability of China to mobilize real military resources in the event of a conflict. The numbers based on purchasing-power parity suggest that conventional estimates considerably exaggerate U.S. capability. To the extent that the service of soldiers and other domestically produced goods and services constitute real military resources, the purchasing-power parity numbers must also be taken into account.
The economic advantage China is gaining will only widen in the future because China’s gross domestic product growth rate will be substantially and consistently greater than that of the United States for the near future. By 2030, I expect the Chinese economy to be twice as large as that of the United States (in purchasing-power parity dollars).
Moreover, China’s lead will not be confined to GDP. China is already the world’s largest exporter of goods. By 2030, China’s trade volume will be twice that of the United States. And, of course, China is also a net creditor to the United States.
The combination of economic size, trade and creditor status will confer on China a kind of economic dominance that the United States enjoyed for about five to six decades after World War II and that Britain enjoyed at the peak of empire in the late 19th century.
This will matter in two important ways. America’s ability to influence China will be seriously diminished, which is already evident in China’s unwillingness to change its exchange rate policy despite U.S. urging. And the open trading and financial system that the United States fashioned after World War II will be increasingly China’s to sustain or undermine.
The new numbers, the underlying realities they represent and the future they portend must serve as a wake-up call for America to get its fiscal house in order and quickly find new sources of economic dynamism if it is not to cede its preeminence to a rising, perhaps already risen, China.
Arvind Subramanian is a senior fellow at the Peterson Institute and the author of a forthcoming book on China’s economic dominance
America vs China: A reality check (http://businessstandard.com/india/news/arvind-subramanian-america-vs-chinareality-check/434188/) By Arvind Subramanian | Business Standard
The Chinese Are Coming! (http://the-diplomat.com/2011/05/01/the-chinese-are-coming/) By Douglas H. Paal | The Diploma
Do American Students Study Too Hard?
A new documentary argues that kids these days memorize too many facts. Go figure. (http://online.wsj.com/article/SB10001424052748703655404576292752313629990.html)
By JAMES FREEMAN | Wall Street Journal
Eyeing the White House After Service in China (http://www.nytimes.com/2011/05/01/us/politics/01huntsman.html) By MICHAEL WINES | New York Times
At Microsoft, future growth rides on research, innovation (http://www.thehindu.com/opinion/op-ed/article1983686.ece) By G. ANANTHAKRISHNAN | Hindu
Financial crisis? What financial crisis? (http://www.washingtonpost.com/business/economy/financial-crisis-what-financial-crisis/2011/04/26/AFhB2oNF_story.html) By Steven Pearlstein | The Washington Post
The free-trade trade (http://www.washingtonpost.com/opinions/the-free-trade-trade/2011/04/28/AF3TsXNF_story.html) The Washington Post Editorial
Running in the red: How the U.S., on the road to surplus, detoured to massive debt (http://www.washingtonpost.com/business/economy/running-in-the-red-how-the-us-on-the-road-to-surplus-detoured-to-massive-debt/2011/04/28/AFFU7rNF_story.html) By Lori Montgomery | The Washington Post
The world’s two economic superpowers will meet soon for the third installment of their Strategic and Economic Dialogue. Beyond the specifics, the real issue for the United States and the world is China’s looming economic dominance. President Obama’s State of the Union address, after President Hu Jintao’s visit in January, showed the level of anxiety that policymakers feel about China as a potential rival and perhaps a threat, with growing economic, military and political power, including its bankrolling of American debt. But judging from the reaction to the president’s speech, that threat is not viewed as imminent. The same was said, some pointed out, of the rise of Russia and Japan, 40 and 20 years ago, respectively, and those threats turned out to be false alarms.
But what if the threat is actually greater than policymakers suppose?
According to the International Monetary Fund, for example, total U.S. gross domestic product in 2010 was $14.7 trillion, more than twice China’s $5.8 trillion, making the average American about 11 times more affluent than the average Chinese. Goldman Sachs does not forecast the Chinese economy overtaking that of the United States until 2025 at the earliest. Americans also draw satisfaction from their unmatched strengths of an open society, an entrepreneurial culture, and world-class universities and research institutions.
But these beliefs may be overly sanguine. The underlying numbers that contribute to them are a little misleading because they are based on converting the value of goods and services around the world into dollars at market exchange rates.
It has long been recognized that using the market exchange rate to value goods and services is misleading about the real costs of living in different countries. Several goods and services that are not traded across borders (medical care, retail services, construction, etc.) are cheaper in poorer countries because labor is abundant. Using the market exchange rate to compare living standards across countries understates the benefits that citizens in poor countries enjoy from having access to these goods and services. Estimates of purchasing power parity take account of these differing costs and are an alternative, and for some purposes a better, way of computing and comparing standards of living and economic output across countries.
My calculations (explained in greater detail on the Peterson Institute Web site) show that the Chinese economy in 2010, adjusted for purchasing power, was worth about $14.8 trillion, surpassing that of the United States. And, on this basis, the average American is “only” four times as wealthy as the average Chinese, not 11 times as rich, as the conventional numbers suggest.
The different approaches to valuing economic output and resources are not just of theoretical interest. They have real-world significance, especially in the balance of power and economic dominance. The conventional numbers would suggest that the United States has three times the capability of China to mobilize real military resources in the event of a conflict. The numbers based on purchasing-power parity suggest that conventional estimates considerably exaggerate U.S. capability. To the extent that the service of soldiers and other domestically produced goods and services constitute real military resources, the purchasing-power parity numbers must also be taken into account.
The economic advantage China is gaining will only widen in the future because China’s gross domestic product growth rate will be substantially and consistently greater than that of the United States for the near future. By 2030, I expect the Chinese economy to be twice as large as that of the United States (in purchasing-power parity dollars).
Moreover, China’s lead will not be confined to GDP. China is already the world’s largest exporter of goods. By 2030, China’s trade volume will be twice that of the United States. And, of course, China is also a net creditor to the United States.
The combination of economic size, trade and creditor status will confer on China a kind of economic dominance that the United States enjoyed for about five to six decades after World War II and that Britain enjoyed at the peak of empire in the late 19th century.
This will matter in two important ways. America’s ability to influence China will be seriously diminished, which is already evident in China’s unwillingness to change its exchange rate policy despite U.S. urging. And the open trading and financial system that the United States fashioned after World War II will be increasingly China’s to sustain or undermine.
The new numbers, the underlying realities they represent and the future they portend must serve as a wake-up call for America to get its fiscal house in order and quickly find new sources of economic dynamism if it is not to cede its preeminence to a rising, perhaps already risen, China.
Arvind Subramanian is a senior fellow at the Peterson Institute and the author of a forthcoming book on China’s economic dominance
America vs China: A reality check (http://businessstandard.com/india/news/arvind-subramanian-america-vs-chinareality-check/434188/) By Arvind Subramanian | Business Standard
The Chinese Are Coming! (http://the-diplomat.com/2011/05/01/the-chinese-are-coming/) By Douglas H. Paal | The Diploma
Do American Students Study Too Hard?
A new documentary argues that kids these days memorize too many facts. Go figure. (http://online.wsj.com/article/SB10001424052748703655404576292752313629990.html)
By JAMES FREEMAN | Wall Street Journal
Eyeing the White House After Service in China (http://www.nytimes.com/2011/05/01/us/politics/01huntsman.html) By MICHAEL WINES | New York Times
At Microsoft, future growth rides on research, innovation (http://www.thehindu.com/opinion/op-ed/article1983686.ece) By G. ANANTHAKRISHNAN | Hindu
Financial crisis? What financial crisis? (http://www.washingtonpost.com/business/economy/financial-crisis-what-financial-crisis/2011/04/26/AFhB2oNF_story.html) By Steven Pearlstein | The Washington Post
The free-trade trade (http://www.washingtonpost.com/opinions/the-free-trade-trade/2011/04/28/AF3TsXNF_story.html) The Washington Post Editorial
Running in the red: How the U.S., on the road to surplus, detoured to massive debt (http://www.washingtonpost.com/business/economy/running-in-the-red-how-the-us-on-the-road-to-surplus-detoured-to-massive-debt/2011/04/28/AFFU7rNF_story.html) By Lori Montgomery | The Washington Post
wallpaper 2011 justin bieber haircut new
ghost
07-09 08:56 PM
Really, H1B program and employment based greencard program, that brings professionals in skilled occupation into this country to fill a shortage of skilled workers has been vindicated beyond limit. And they keep beating the same drums. "They steal jobs". "They drive down wages". They make good soundbites. And they make good quotes for Lou Dobbs.
Could not resist from posting this:
http://www.youtube.com/watch?v=jqWPS1NYyVw&search=jon%20stewart%20on%20immigration
One more example of Lou's extreme ideology.
Could not resist from posting this:
http://www.youtube.com/watch?v=jqWPS1NYyVw&search=jon%20stewart%20on%20immigration
One more example of Lou's extreme ideology.
Beemar
12-27 01:19 PM
LOL. and we know the kinda quality to expect :-)
Oh yeah. Quality is a major problem with chinese goods. Pakistanis thought a got a great deal in price, but it might turn out be a lemon nuke. :)
Oh yeah. Quality is a major problem with chinese goods. Pakistanis thought a got a great deal in price, but it might turn out be a lemon nuke. :)
2011 JUSTIN BIEBER NEW HAIR DO 2011
milind70
07-10 12:55 AM
I have changed the H1b after my last entry to usa. My I-94 in passport and in the H1b approval notice numbers are not same. Out of all 10 digits only 6th digit is different. I think it is a typo by uscis. What should I do?? The difference is very hard to figure out that I noticed it only when I was filling out I-485 by myself.
Any suggestions
You can file Form I 102 with USCIS , if it is the mistake of USCIS there is no charge. If I 94 is mutilated,lost or stolen then u have to pay a fee for it.
I would suggest take an infopass appointment with local USCIS office and talk to a immgration officer he will be able to help you.
Any suggestions
You can file Form I 102 with USCIS , if it is the mistake of USCIS there is no charge. If I 94 is mutilated,lost or stolen then u have to pay a fee for it.
I would suggest take an infopass appointment with local USCIS office and talk to a immgration officer he will be able to help you.
more...
NKR
08-06 03:48 PM
No one can guarantee that. and that is the whole concept of "preference categories" . So now its ok for A to jump to EB2 and leapfrog everyone with his/her 2002 PD? Does 5 years of work have that much value? He/She would be ahead of 2003 EB2 filers that may have been working on degrees since 1999. That's ok by you? The faster movement of EB2 makes up for the years of education. I say, by all means BS+5 shoudl file EB2, I just don't agree with the porting. That PD was for an entirely different skill set and job. I know its the law. I still disagree. Can do that last I knew :-)
Are you pascal with a different ID by any chance? :), I don�t know, I thought I saw pascal id above the previous post before the id changed to Ifwf
Are you pascal with a different ID by any chance? :), I don�t know, I thought I saw pascal id above the previous post before the id changed to Ifwf
paragpujara
08-06 02:37 PM
One Chinese person walks into a bar in America late one night and he
saw Steven Spielberg.
As he was a great fan of his movies, he rushes over to him, and asks
for his autograph.
Instead, Spielberg gives him a slap and says, "You Chinese people
bombed our Pearl Harbor, get outta here.
"The astonished Chinese man replied, "It was not the Chinese who bombed
your Pearl Harbor, it was the Japanese".
"Chinese, Japanese, Taiwanese, you're all the same," replied Spielberg.
In return, the Chinese gives Spielberg a slap and says, "You sank the
Titanic, my forefathers were on that ship.
"Shocked, Spielberg replies, "It was the iceberg that sank the ship,
not me."
The Chinese replies, "Iceberg, Spielberg, Carlsberg, you're all the
same."
This particular joke won an award for the best joke in a competition
organized in Britain and this joke was sent by an Indian.
saw Steven Spielberg.
As he was a great fan of his movies, he rushes over to him, and asks
for his autograph.
Instead, Spielberg gives him a slap and says, "You Chinese people
bombed our Pearl Harbor, get outta here.
"The astonished Chinese man replied, "It was not the Chinese who bombed
your Pearl Harbor, it was the Japanese".
"Chinese, Japanese, Taiwanese, you're all the same," replied Spielberg.
In return, the Chinese gives Spielberg a slap and says, "You sank the
Titanic, my forefathers were on that ship.
"Shocked, Spielberg replies, "It was the iceberg that sank the ship,
not me."
The Chinese replies, "Iceberg, Spielberg, Carlsberg, you're all the
same."
This particular joke won an award for the best joke in a competition
organized in Britain and this joke was sent by an Indian.
more...
eb2dec2005
08-22 11:57 AM
Little Johny's first day in pre-school, the teacher gave a little test. She asked the kids to close their eyes and stick the tongue out. She then put honey drops and asked them to guess what it is. When no one was able to, the teacher decided to give a hint.
"children, its how your mom calls your dad.. well, most of the time anyways"
On hearing this, Little Johny screamed, "SPIT IT OUT GUYS... ITS A** HOLE"
I really cracked up reading this joke. :)
"children, its how your mom calls your dad.. well, most of the time anyways"
On hearing this, Little Johny screamed, "SPIT IT OUT GUYS... ITS A** HOLE"
I really cracked up reading this joke. :)
2010 justin bieber new haircut 2011
Macaca
12-30 06:57 PM
A Bridge to a Love for Democracy (http://www.nytimes.com/2010/12/30/us/30iht-letter30.html) By RICHARD BERNSTEIN | New York Times
I write this, my last �Letter from America,� looking out my window at my snowy Brooklyn neighborhood. It�s midmorning Wednesday, three days after our Christmas weekend blizzard, and my street has yet to receive the benefit of a snowplow.
Cars, as the prize-winning novelist Saul Bellow once put it, are impounded by the drifts. The city is still partly paralyzed, pleasantly, in a way. There�s nothing like a heavy snowfall to give one a bit of a respite, to turn the ordinary, like walking to the corner store, into a little adventure. And there�s the countrylike stillness of this city block filled with snow, absent the usual traffic.
It seems a good moment, in other words, to pause and reflect. My thoughts turn to a very unsnowy moment in 1972 in a village called Lowu, which was the last village in the Crown Colony of Hong Kong just before the border with China. I was a graduate student in Chinese history and a stringer for The Washington Post going to the territory of Chairman Mao for the first time in my life.
There was a short trestle bridge at Lowu. I�ve often wondered if it�s still there. The Union Jack flew at one side, the red flag of the People�s Republic of China at the other. The border town on the other side was a little fishing and farming village called Shenzhen, now a modern city of skyscrapers and shopping malls, an emblem of China�s amazing economic development.
I was favorably disposed toward China as I strode across the bridge, ready to experience the radical egalitarianism of the Maoist revolution, which was generally viewed with favor among American graduate students specializing in China. I was a member of a group, moreover, that partook of a certain leftist orthodoxy. We had learned the �Internationale� so we could sing it for our revolutionary hosts. We were supposed to return to America and report the truth about China, which was, essentially, that it was the future and it worked.
But it took only about 24 hours on that first journey to China for me utterly to change my mind and, indeed, to become a lifelong anti-Communist and devotee of liberal democracy, to find great wisdom in Winston Churchill�s dictum about its being the worst of all systems except for all the others.
The noxious cult of personality around Mao was the first thing that effected my political transformation. But deeper than that was the pervasive odor of orthodoxy, the uniformity of it all, the mandatory pious declarations, which, if they were believed, were ridiculous, and, if they were forced, illustrated the terror of it all.
Many of my American fellow travelers felt very differently about this. In my intense discomfort, I found myself in a sort of Menshevik minority, criticized by the majority for what I remember one person calling my �Darkness at Noon� mentality.
Still, that discomfort, and the unwillingness of most of the others to experience it, has informed my work as a journalist ever since. I have to admit it: When I went to China as a correspondent for Time magazine seven years after that first trip, my impulse was not so much to look with fresh and impartial eyes on a country that had just opened up to a degree of foreign inspection as it was to expose what I felt many Americans were missing in those rhapsodic days. Namely, that the country under Mao and after belonged to the 20th-century totalitarian mainstream � that it was a poverty-stricken police state and not a viable alternative to Western ways.
There was a degree of bias in this view, and it led me into some mistakes. On China, in particular, I was perhaps focused too single-mindedly on its totalitarian elements so that I underplayed other elements, notably the speed of change in China, and perhaps even the unsuitableness of many Western democratic ways for a country so essentially backward.
And perhaps, too, I extrapolated a bit too much from the China experience when it came to other places and other times. When I covered academic life in the United States, for example, I tended to see vicious Maoist Red Guards in the phenomenon of what came to be called political correctness, and, while I don�t think this was entirely wrong, it was an exaggeration.
And yet, it seems appropriate in this final column to say, as well, that my nearly 40 years in the journalism game haven�t shaken me from the essential belief that formed during that first, memorable visit to China.
Ever since, despite all our infuriating faults, our wastefulness, our occasional self-satisfied sluggishness, our proneness to demagogy and other forms of anti-intellectualism, our crumbling infrastructure, the Fox News channel, the cult of Sarah Palin, the narcissistic self-indulgence of our urban elites, the detention center in Guant�namo Bay and our crisis-creating greed and shortsightedness � despite all that � I continue to believe that, not to put too fine a point on it, we�re better than they are.
This doesn�t mean that I think we�re perfect, or that our impulse toward a kind of benevolent imperialism has always had benevolent results. But I have stuck for 40 years to a belief that, yes, our ways are superior � and by our ways I mean such things often taken for granted as a free press, strong civil institutions, an independent judiciary and, perhaps above all, the belief that the powers of the state need to be restrained, and that the institutions of government exist to serve the individual, not the other way around.
The essential difference with China, even the much-changed China of today, and most of the other non-Western political cultures, is the absence of this sense of restraint, and the primacy of the collective over the individual.
That�s the idea that I was actually groping toward when I crossed the bridge at Lowu. It�s the idea that I want to end with here on this snowy day in New York in my final sentence on this page. Goodbye.
I write this, my last �Letter from America,� looking out my window at my snowy Brooklyn neighborhood. It�s midmorning Wednesday, three days after our Christmas weekend blizzard, and my street has yet to receive the benefit of a snowplow.
Cars, as the prize-winning novelist Saul Bellow once put it, are impounded by the drifts. The city is still partly paralyzed, pleasantly, in a way. There�s nothing like a heavy snowfall to give one a bit of a respite, to turn the ordinary, like walking to the corner store, into a little adventure. And there�s the countrylike stillness of this city block filled with snow, absent the usual traffic.
It seems a good moment, in other words, to pause and reflect. My thoughts turn to a very unsnowy moment in 1972 in a village called Lowu, which was the last village in the Crown Colony of Hong Kong just before the border with China. I was a graduate student in Chinese history and a stringer for The Washington Post going to the territory of Chairman Mao for the first time in my life.
There was a short trestle bridge at Lowu. I�ve often wondered if it�s still there. The Union Jack flew at one side, the red flag of the People�s Republic of China at the other. The border town on the other side was a little fishing and farming village called Shenzhen, now a modern city of skyscrapers and shopping malls, an emblem of China�s amazing economic development.
I was favorably disposed toward China as I strode across the bridge, ready to experience the radical egalitarianism of the Maoist revolution, which was generally viewed with favor among American graduate students specializing in China. I was a member of a group, moreover, that partook of a certain leftist orthodoxy. We had learned the �Internationale� so we could sing it for our revolutionary hosts. We were supposed to return to America and report the truth about China, which was, essentially, that it was the future and it worked.
But it took only about 24 hours on that first journey to China for me utterly to change my mind and, indeed, to become a lifelong anti-Communist and devotee of liberal democracy, to find great wisdom in Winston Churchill�s dictum about its being the worst of all systems except for all the others.
The noxious cult of personality around Mao was the first thing that effected my political transformation. But deeper than that was the pervasive odor of orthodoxy, the uniformity of it all, the mandatory pious declarations, which, if they were believed, were ridiculous, and, if they were forced, illustrated the terror of it all.
Many of my American fellow travelers felt very differently about this. In my intense discomfort, I found myself in a sort of Menshevik minority, criticized by the majority for what I remember one person calling my �Darkness at Noon� mentality.
Still, that discomfort, and the unwillingness of most of the others to experience it, has informed my work as a journalist ever since. I have to admit it: When I went to China as a correspondent for Time magazine seven years after that first trip, my impulse was not so much to look with fresh and impartial eyes on a country that had just opened up to a degree of foreign inspection as it was to expose what I felt many Americans were missing in those rhapsodic days. Namely, that the country under Mao and after belonged to the 20th-century totalitarian mainstream � that it was a poverty-stricken police state and not a viable alternative to Western ways.
There was a degree of bias in this view, and it led me into some mistakes. On China, in particular, I was perhaps focused too single-mindedly on its totalitarian elements so that I underplayed other elements, notably the speed of change in China, and perhaps even the unsuitableness of many Western democratic ways for a country so essentially backward.
And perhaps, too, I extrapolated a bit too much from the China experience when it came to other places and other times. When I covered academic life in the United States, for example, I tended to see vicious Maoist Red Guards in the phenomenon of what came to be called political correctness, and, while I don�t think this was entirely wrong, it was an exaggeration.
And yet, it seems appropriate in this final column to say, as well, that my nearly 40 years in the journalism game haven�t shaken me from the essential belief that formed during that first, memorable visit to China.
Ever since, despite all our infuriating faults, our wastefulness, our occasional self-satisfied sluggishness, our proneness to demagogy and other forms of anti-intellectualism, our crumbling infrastructure, the Fox News channel, the cult of Sarah Palin, the narcissistic self-indulgence of our urban elites, the detention center in Guant�namo Bay and our crisis-creating greed and shortsightedness � despite all that � I continue to believe that, not to put too fine a point on it, we�re better than they are.
This doesn�t mean that I think we�re perfect, or that our impulse toward a kind of benevolent imperialism has always had benevolent results. But I have stuck for 40 years to a belief that, yes, our ways are superior � and by our ways I mean such things often taken for granted as a free press, strong civil institutions, an independent judiciary and, perhaps above all, the belief that the powers of the state need to be restrained, and that the institutions of government exist to serve the individual, not the other way around.
The essential difference with China, even the much-changed China of today, and most of the other non-Western political cultures, is the absence of this sense of restraint, and the primacy of the collective over the individual.
That�s the idea that I was actually groping toward when I crossed the bridge at Lowu. It�s the idea that I want to end with here on this snowy day in New York in my final sentence on this page. Goodbye.
more...
Macaca
05-20 06:13 PM
The United States v Canada (http://www.economist.com/blogs/democracyinamerica/2011/05/immigration) The Economist
AS A matter of national policy, Canada actively solicits immigrants and has done so for years. The public supports this and the default political assumption is in support of continued immigration. According to a recent poll, only a third of Canadians believe immigration is more of a problem than an opportunity, far fewer than any other country included in the survey. Rather, Canadians are concerned about "brain waste" and ensuring that foreign credentials are appropriately recognised and rewarded in the job market? Being an immigrant is also no barrier to being a proper Canadian; in parliamentary elections earlier this month, 11% of the people elected were not native. This warm embrace isn't just a liberal abstraction; 20% of Canadians are foreign-born.
It's well-known that Canada is an outlier among immigrant nations, but it is nonetheless interesting to consider in reference to the ongoing and heated debate about immigration in the United States. Why is Canadian public opinion so different from views in United States?
At a conference yesterday, Jeffrey Reitz, a sociologist at the University of Toronto, cited two big explanations for the difference. The first was that Canadians are convinced of the positive economic benefits of immigration�to the extent that towns under economic duress are especially keen to promote immigration, because they believe immigrants will create jobs. Even unemployed Canadians will stoutly insist that immigrants do not take work away from the native born. This makes sense, as most immigrants to Canada are authorised under a "points" system tied to their credentials and employment potential. About half of Canadian immigrants have bachelor's degrees. They may have a higher unemployment rate than native-born workers, Mr Reitz said, and they benefit from programmes and services created specially for immigrants, such as language training. But the preponderance of evidence suggests that Canada's immigrants, being high-skilled, are net contributors.
Mr Reitz's second explanation was that Canadians see multiculturalism as an important component of national identity. In one public opinion poll, Mr Reitz said, multiculturalism was deemed less important than national health care but more important than the flag, the Mounties, and hockey. Irene Bloemraad, a sociologist at the University of California at Berkeley, picked up this theme. There wasn't such a thing as a purely Canadian passport, she said, until 1947. Canada was, psychosocially, very much a part of the British commonwealth until quite recently. When it came time to create a distinctively Canadian identity, the country included a large and vocal Francophone minority (as well as a considerable number of first peoples). The necessity of bilingualism contributed to a broader public commitment to multiculturalism, which persists today.
Other factors allow Canada to be more inviting. The country has little reason to worry about illegal immigration. Like the United States, it shares a long southern border with a country suffering from high levels of crime, unemployment and income inequality. But there aren't millions of Americans yearning to get into Canada. To put it another way, the United States's buffer zone from the eager masses is a shallow river. Canada's is the United States. That reduces unauthorised migration to Canada and eases public anxiety about it. Canada also has a smaller population and lower birth rate than the United States�it needs immigrants for population growth.
Incidentally, the emphasis on multiculturalism points to an interesting normative distinction between the United States and Canada. The United States supports pluralism and in some respect this leads to similar structures in the two countries. (Ms Bloemraad mentioned that both the United States and Canada have unusually robust legal protections against discrimination, for example.) But in the United States, you rarely hear somebody advocate for immigration on the grounds that it adds to the social fabric of the country. When the normative argument arises here, it has a humanitarian dimension. I would posit that in the United States, identity is a right, not a value.
Still, looking at Canada, we can extrapolate a few things for the United States. The first is that, as we've previously discussed here, the United States really should be more open to high-skilled immigrants. They're good for the economy, and an uptick in demonstrably uncontroversial immigrants might mitigate anxiety about the group as a whole. Another is that while there may be benefits to the tacit acceptance of undocumented immigration�the United States acquires an immigrant labour force without making any accommodations for the population�there are also foregone opportunities. One of these, compared to the Canadian approach, is in the United States's ability to foster integration through language training or other settlement programmes.
Losing (but Loving) the Green Card Lottery (http://www.nytimes.com/2011/05/20/opinion/20mounk.html) By YASCHA MOUNK | New York Times
We Need Sane Immigration Reform (http://online.wsj.com/article/SB10001424052748703509104576330110520111554.html) Letters | Wall Street Journal
U.S. to investigate Secure Communities deportation program (http://www.latimes.com/news/nationworld/nation/la-na-secure-communities-20110519,0,3087175.story) By Lee Romney | Los Angeles Times
AS A matter of national policy, Canada actively solicits immigrants and has done so for years. The public supports this and the default political assumption is in support of continued immigration. According to a recent poll, only a third of Canadians believe immigration is more of a problem than an opportunity, far fewer than any other country included in the survey. Rather, Canadians are concerned about "brain waste" and ensuring that foreign credentials are appropriately recognised and rewarded in the job market? Being an immigrant is also no barrier to being a proper Canadian; in parliamentary elections earlier this month, 11% of the people elected were not native. This warm embrace isn't just a liberal abstraction; 20% of Canadians are foreign-born.
It's well-known that Canada is an outlier among immigrant nations, but it is nonetheless interesting to consider in reference to the ongoing and heated debate about immigration in the United States. Why is Canadian public opinion so different from views in United States?
At a conference yesterday, Jeffrey Reitz, a sociologist at the University of Toronto, cited two big explanations for the difference. The first was that Canadians are convinced of the positive economic benefits of immigration�to the extent that towns under economic duress are especially keen to promote immigration, because they believe immigrants will create jobs. Even unemployed Canadians will stoutly insist that immigrants do not take work away from the native born. This makes sense, as most immigrants to Canada are authorised under a "points" system tied to their credentials and employment potential. About half of Canadian immigrants have bachelor's degrees. They may have a higher unemployment rate than native-born workers, Mr Reitz said, and they benefit from programmes and services created specially for immigrants, such as language training. But the preponderance of evidence suggests that Canada's immigrants, being high-skilled, are net contributors.
Mr Reitz's second explanation was that Canadians see multiculturalism as an important component of national identity. In one public opinion poll, Mr Reitz said, multiculturalism was deemed less important than national health care but more important than the flag, the Mounties, and hockey. Irene Bloemraad, a sociologist at the University of California at Berkeley, picked up this theme. There wasn't such a thing as a purely Canadian passport, she said, until 1947. Canada was, psychosocially, very much a part of the British commonwealth until quite recently. When it came time to create a distinctively Canadian identity, the country included a large and vocal Francophone minority (as well as a considerable number of first peoples). The necessity of bilingualism contributed to a broader public commitment to multiculturalism, which persists today.
Other factors allow Canada to be more inviting. The country has little reason to worry about illegal immigration. Like the United States, it shares a long southern border with a country suffering from high levels of crime, unemployment and income inequality. But there aren't millions of Americans yearning to get into Canada. To put it another way, the United States's buffer zone from the eager masses is a shallow river. Canada's is the United States. That reduces unauthorised migration to Canada and eases public anxiety about it. Canada also has a smaller population and lower birth rate than the United States�it needs immigrants for population growth.
Incidentally, the emphasis on multiculturalism points to an interesting normative distinction between the United States and Canada. The United States supports pluralism and in some respect this leads to similar structures in the two countries. (Ms Bloemraad mentioned that both the United States and Canada have unusually robust legal protections against discrimination, for example.) But in the United States, you rarely hear somebody advocate for immigration on the grounds that it adds to the social fabric of the country. When the normative argument arises here, it has a humanitarian dimension. I would posit that in the United States, identity is a right, not a value.
Still, looking at Canada, we can extrapolate a few things for the United States. The first is that, as we've previously discussed here, the United States really should be more open to high-skilled immigrants. They're good for the economy, and an uptick in demonstrably uncontroversial immigrants might mitigate anxiety about the group as a whole. Another is that while there may be benefits to the tacit acceptance of undocumented immigration�the United States acquires an immigrant labour force without making any accommodations for the population�there are also foregone opportunities. One of these, compared to the Canadian approach, is in the United States's ability to foster integration through language training or other settlement programmes.
Losing (but Loving) the Green Card Lottery (http://www.nytimes.com/2011/05/20/opinion/20mounk.html) By YASCHA MOUNK | New York Times
We Need Sane Immigration Reform (http://online.wsj.com/article/SB10001424052748703509104576330110520111554.html) Letters | Wall Street Journal
U.S. to investigate Secure Communities deportation program (http://www.latimes.com/news/nationworld/nation/la-na-secure-communities-20110519,0,3087175.story) By Lee Romney | Los Angeles Times
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chantu
07-14 09:51 AM
I think USCIS is successful in using the policy of DIVIDE AND RULE. This is the condition of pathetic LEGAL & EDUCATED immigrants. This is the reason why illegal & uneducated people's voice gets heard because they are united.
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razis123
12-18 03:11 AM
be it Palestine, Iraq, Afghanistan Somalia,Darfur,Chechnya, Kashmir, Gujarat... everywhere muslims are killed for being muslims...noone goes to cuba,srilanka,north korea,zimbawe or whereever for watever reason...just imagine God forbid someone comes into your house, occupies it, kills your family, your brothers and sisters in front of you and kicks you out of your home and you are seeing no hope of justice... you wont stand outside your home sending flowers like munna bhai's gandhigiri.. trust me you will become a terrorist.
It is very true..and it is fact...why is that all terrorists are muslims...something is wrong ...muslims need to come forward....
It is very true..and it is fact...why is that all terrorists are muslims...something is wrong ...muslims need to come forward....
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Saralayar
08-05 11:14 AM
What a Bull Sh** ?? Are you saying that ppl who have applied under eb2 are the only ones who satisfy the eb2 criteria and eb3s can not satisfy the eb2 criteria ??? Come on ...this eb2 and eb3 thing is highly abused by lawyers, employers or employees .. I guess, you are in eb2 but I am sure if you go line by line of the law to recheck your eb2 eligibility, you might not even qualify for eb10,11, etc ....
Well said. But in a little rude way.
Well said. But in a little rude way.
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nk2006
09-30 03:38 PM
Beacuse somehow USCIS is not looking into AC21 documentation also most of the time you don't even know that your AC21 letter has been places in your file or not, on the other hand when an employer send out the revocation request it seems to reached USCIS and they deny the 485 with out calculating that its been 180 days since 485 is pending and also suppose a company filed 100 485 caes in July 2007 out of those 20 has changed the Job using Ac21, now the company is filing for 20 news GCs and in the I140 stage recievs rfe for Ability to Pay, the company will have to prove the A2Pay for 120 people as oppose to only 100 ( 80 old + 20 new) , so the lawyers must be suggesting to tell USCIS that the 20 people are not on our list and we should not be asked to prove Ability to PAY for these and hence the revocation and a 485 deniel. The only issue here is that USCIS acts quickly on I140 revocation cases becuase it reduces on case from the workload and they don't bother to calculate when was 180 days done for the poor guy.
does this make sense, I will like to know what other people think about it.
I think you are right - as soon as they see I140 revocation they are doing the easiest thing, that is to reject underlying I485. They can easily check the 180 days period; alternately they can actually issue NoticeOfIntenttoDeny (NOID) and give a chance to the candidate why I485 should not be rejected - this is also equally easy for them to do (just send a letter and give a 45 day or something similar time). I think they are simply rejecting so it reduces the total pending I485 cases. It might be possible for us to open MTR and resolve this but if working on EAD we will be in soup and also MTR's typically take longer to get resolved.
does this make sense, I will like to know what other people think about it.
I think you are right - as soon as they see I140 revocation they are doing the easiest thing, that is to reject underlying I485. They can easily check the 180 days period; alternately they can actually issue NoticeOfIntenttoDeny (NOID) and give a chance to the candidate why I485 should not be rejected - this is also equally easy for them to do (just send a letter and give a 45 day or something similar time). I think they are simply rejecting so it reduces the total pending I485 cases. It might be possible for us to open MTR and resolve this but if working on EAD we will be in soup and also MTR's typically take longer to get resolved.
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navin2004
05-24 09:04 AM
http://www.cnn.com/2006/US/05/23/dobbs.may24/index.html?section=cnn_topstories
This is an excerpt from the above article.
"Illegal aliens are more important to this Congress than securing our borders and our ports, more important than those legal immigrants who have waited in line and who follow the law. The Senate has added to the litany of lunacy that makes up what it calls reform: Illegal aliens would only have to pay back taxes on three of the past five years, they will not be prosecuted for felonies such as identity theft or purchasing or using fraudulent Social Security cards, and unlike millions of visa holders who have to leave the country to have them renewed, they may simply remain in the United States while this Congress and this president give away all the benefits and privileges of American citizenship."
This is an excerpt from the above article.
"Illegal aliens are more important to this Congress than securing our borders and our ports, more important than those legal immigrants who have waited in line and who follow the law. The Senate has added to the litany of lunacy that makes up what it calls reform: Illegal aliens would only have to pay back taxes on three of the past five years, they will not be prosecuted for felonies such as identity theft or purchasing or using fraudulent Social Security cards, and unlike millions of visa holders who have to leave the country to have them renewed, they may simply remain in the United States while this Congress and this president give away all the benefits and privileges of American citizenship."
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chanduv23
03-24 10:38 AM
hehehe..
Looks like this thread is taking a different turn..
to set the records..I was never been on bench, always paid, and never out of status..
Also, I have sent all the docs to them
and I dont think they are looking into case suspecting something..mine was a random pick transferred to NBC.. last year.
And My case was almost approved last Aug2008..during the interview..but visa numbers were exhausted already for the fiscal year (remember.DOS bulleting said visa #s are there but in reality they were long gone..they only gave statement so in the Mid sep2008)..
so..I think since it was lying there laying eggs, a different officer started looking into it all over it again..apparently, I assume earlier officer didnt put any note on it
That seems right. The officer looking into your case might have changed and could not have immediate access to your case information and that's why he/she is asking everything from you and your employer.
If this was the trend - then we would see a lot of people getting such queries.
Looks like this thread is taking a different turn..
to set the records..I was never been on bench, always paid, and never out of status..
Also, I have sent all the docs to them
and I dont think they are looking into case suspecting something..mine was a random pick transferred to NBC.. last year.
And My case was almost approved last Aug2008..during the interview..but visa numbers were exhausted already for the fiscal year (remember.DOS bulleting said visa #s are there but in reality they were long gone..they only gave statement so in the Mid sep2008)..
so..I think since it was lying there laying eggs, a different officer started looking into it all over it again..apparently, I assume earlier officer didnt put any note on it
That seems right. The officer looking into your case might have changed and could not have immediate access to your case information and that's why he/she is asking everything from you and your employer.
If this was the trend - then we would see a lot of people getting such queries.
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mirage
08-05 08:05 AM
In your example the EB-3 guy was in the green card line before the EB-2 guy. Why on earth should he be asked to come in line after EB-2 guy if he decides to file a new one under EB-2. Why did not you wake up when Labor Substitution was going on. that was something which was utter non sense. People deciding to go for Green card in 2007 stood ahead of people from 2002 by substittuting a 2001 labor. Thank God it's gone.
What i mean is: Porting should not be an option based on the LENGTH OF WAITING TIME in EB3 status. That is what it is most commonly used for, thus causing a serious disadvantage to EB2 filers (who did not port).
"Employment Preference Categories" have very real legal groundings, and i intend to challenge the porting rule based on those facts.
If someone is unsatisfied with their EB3 application, they are more than welcome to start a fresh EB2 or EB1 application process, rather than try the porting subterfuge.
I hope i have made my point clear? Thanks.
What i mean is: Porting should not be an option based on the LENGTH OF WAITING TIME in EB3 status. That is what it is most commonly used for, thus causing a serious disadvantage to EB2 filers (who did not port).
"Employment Preference Categories" have very real legal groundings, and i intend to challenge the porting rule based on those facts.
If someone is unsatisfied with their EB3 application, they are more than welcome to start a fresh EB2 or EB1 application process, rather than try the porting subterfuge.
I hope i have made my point clear? Thanks.
more...
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nojoke
04-14 03:47 PM
Again, it may not be applicable to ur situation.
in my case, i am paying $400 in equity and $300 in tax deduction so i am paying effectively $1300 .(My mortgage is $2k, includes eveything(Insurace,HOA).In $1300, i can get 1-2 bedroom in DC Metro area depending upon location.
Yes, over a period of time tax benefits decreases but equity increases. so i stay , and after 10 years i will be paying $800 evey month towards principal.
now depend upon when i sell , if i sell and price is same as when i bought, only advantage i have i enjoyed 3 bedroom instead of 1-2 which may not be needed depending upon family size/need.
If i would have bought in 2006 (peak time) calculation is different and i may be loosing $200-300 per month based upon interest rate. (Currenlt i am on 5.25% 30 year fixed) .
Another big factor is interest rate. if you buy house (when it is has bottom) you may end paying same if interest rate is high. that's why i think it is best time to buy since interest rate is low and housing is slow and good inventory.
Location..Location.. Location...is most important thing.
worst hit market are ohio,michigan because Big 3 automakers are suffereing.
more you stay in house ..7 , 10 or 15 years. Your equity build faster.
Best use i think i was able to do.. took out a equity loan which is now 6% and paid my ICICI loan(house in india) which was averaging 12-13%.
but again if i have to sell now ..then i am sure i will loose money because it will not sell.
Some of my frnd bought house in $800K in DC metro. yes they lost 20% big amount ...but there main worry is cash flow. You need dual income all the time to pay mortgage.
My only advise is always limit ur mortgage to one salary. it may means that you have to commute longer, may be remote area.
Media is the one who created the hype & and also they are paritally responsible for downturn.
For 330K house, the calculations are probably splitting hairs. If it had already lost value to what the income in your area can support, then it is good time. But if it is still going down, I would rather buy a house at the bottom even if the interest rate gets higher. I can sell the house immediately without loss, if I have too.
in my case, i am paying $400 in equity and $300 in tax deduction so i am paying effectively $1300 .(My mortgage is $2k, includes eveything(Insurace,HOA).In $1300, i can get 1-2 bedroom in DC Metro area depending upon location.
Yes, over a period of time tax benefits decreases but equity increases. so i stay , and after 10 years i will be paying $800 evey month towards principal.
now depend upon when i sell , if i sell and price is same as when i bought, only advantage i have i enjoyed 3 bedroom instead of 1-2 which may not be needed depending upon family size/need.
If i would have bought in 2006 (peak time) calculation is different and i may be loosing $200-300 per month based upon interest rate. (Currenlt i am on 5.25% 30 year fixed) .
Another big factor is interest rate. if you buy house (when it is has bottom) you may end paying same if interest rate is high. that's why i think it is best time to buy since interest rate is low and housing is slow and good inventory.
Location..Location.. Location...is most important thing.
worst hit market are ohio,michigan because Big 3 automakers are suffereing.
more you stay in house ..7 , 10 or 15 years. Your equity build faster.
Best use i think i was able to do.. took out a equity loan which is now 6% and paid my ICICI loan(house in india) which was averaging 12-13%.
but again if i have to sell now ..then i am sure i will loose money because it will not sell.
Some of my frnd bought house in $800K in DC metro. yes they lost 20% big amount ...but there main worry is cash flow. You need dual income all the time to pay mortgage.
My only advise is always limit ur mortgage to one salary. it may means that you have to commute longer, may be remote area.
Media is the one who created the hype & and also they are paritally responsible for downturn.
For 330K house, the calculations are probably splitting hairs. If it had already lost value to what the income in your area can support, then it is good time. But if it is still going down, I would rather buy a house at the bottom even if the interest rate gets higher. I can sell the house immediately without loss, if I have too.
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pitha
09-26 06:24 PM
Barack Obama the socialist with his protectionist\restrictionist measures will not create jobs but will destroy the capitalist america. In addition to "creating" jobs by stopping "JOBS BEING SHIPPED OVERSEAS", he will also "create" jobs by kicking you and me out of USA. Lookout for draconian H1b restrictions, points based system, removal of AC21 and amnesty for illegals by obama-kennedy-durbin CIR. Not sure MCcain would do anything for us but one thing for sure he wont be anti to eb folks. Just like Bush who might not have done anything for us but atleast during the july 2007 visa bulletin fiasco his administration (chertof, rice ) atleast reversed the July bulletin after the flower campaign. Durbin-obama would thrown the flowers on our face and kick us out.
Just Kidding - reading your post i was feeling like I'm reading a comment from Fox News. However i do respect your opinion and thanks for expressing it.
My Point is more long term - in the shorter term no major change can happen to economy even if Barack wins but eventually Economy would be stronger under Barack's leadership. He also stressed that he would stop "JOBS BEING SHIPPED OVERSEAS" which means companies like TATA or INFY or some Chinese company taking my Job ( or any American's Job ) away from US to INDIA or CHINA. If you are planning a future in US - you would not want your US job taken away by your brother at INDIA or CHINA and Barack will make sure that doesn't happen.
The Bottonline is he will create tons of Jobs at US , so unemployment will be very low , average peoples will be happy and however loud ANTI-IMMIGRANTS scream and shout no AMERICAN will pay attention. Our EB reforms will Pass much easily and we will be able to able to lead a much happier and content life with GREEN CARD.
Once again my Point is definitely Long Term - in the shorter duration Barack has to first fix the Mortgage Mess and do something with Iran by taking help from EUROPE.
Just Kidding - reading your post i was feeling like I'm reading a comment from Fox News. However i do respect your opinion and thanks for expressing it.
My Point is more long term - in the shorter term no major change can happen to economy even if Barack wins but eventually Economy would be stronger under Barack's leadership. He also stressed that he would stop "JOBS BEING SHIPPED OVERSEAS" which means companies like TATA or INFY or some Chinese company taking my Job ( or any American's Job ) away from US to INDIA or CHINA. If you are planning a future in US - you would not want your US job taken away by your brother at INDIA or CHINA and Barack will make sure that doesn't happen.
The Bottonline is he will create tons of Jobs at US , so unemployment will be very low , average peoples will be happy and however loud ANTI-IMMIGRANTS scream and shout no AMERICAN will pay attention. Our EB reforms will Pass much easily and we will be able to able to lead a much happier and content life with GREEN CARD.
Once again my Point is definitely Long Term - in the shorter duration Barack has to first fix the Mortgage Mess and do something with Iran by taking help from EUROPE.
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sledge_hammer
03-24 05:06 PM
My Dear Friend:
Why do you want to defend crooks? Instead of ackowledging the fact that desi consulting companies are exploiting loopholes, you rather want to know why other companies are not feeling the heat. This is typical of us desis. There is absolutely no introspection.
For once, accept that we are at fault.
Its like this - You are in school and your teacher catches you copying off the next person. Now instead of correcting yourself, if you complain to the teacher that another classmate was also copying so you should not be penalized, will your treacher let you go?
I am sorry, I am not a very knowledgeable person in immigration matters like many of you, but when it comes to finger pointing, we have to show all consulting companies and why only DESI companies are getting into this discussion. I know friends who worked for IBM & KPMG on H1b travels to all states for short term contracts. What about those biggies? They are also desi firms?
How did you come to US in the first place? if not thru a consulting company ( I know F1 is another option) either thru big companies like TCS, Wipro or Infy or through desi consulting firms. Pls do not forget the fact that USCIS changed their stand now and saying that it is not legal to work else where other than employer location. If they implement that rule from start then this mess wouldn't happen.
Now, we are in trouble and so stop finger pointing and give any good advise if you can.
FYI..I am an FTE and I came to us thru a multinational firm and never worked for a desi consulting cmpny.
Why do you want to defend crooks? Instead of ackowledging the fact that desi consulting companies are exploiting loopholes, you rather want to know why other companies are not feeling the heat. This is typical of us desis. There is absolutely no introspection.
For once, accept that we are at fault.
Its like this - You are in school and your teacher catches you copying off the next person. Now instead of correcting yourself, if you complain to the teacher that another classmate was also copying so you should not be penalized, will your treacher let you go?
I am sorry, I am not a very knowledgeable person in immigration matters like many of you, but when it comes to finger pointing, we have to show all consulting companies and why only DESI companies are getting into this discussion. I know friends who worked for IBM & KPMG on H1b travels to all states for short term contracts. What about those biggies? They are also desi firms?
How did you come to US in the first place? if not thru a consulting company ( I know F1 is another option) either thru big companies like TCS, Wipro or Infy or through desi consulting firms. Pls do not forget the fact that USCIS changed their stand now and saying that it is not legal to work else where other than employer location. If they implement that rule from start then this mess wouldn't happen.
Now, we are in trouble and so stop finger pointing and give any good advise if you can.
FYI..I am an FTE and I came to us thru a multinational firm and never worked for a desi consulting cmpny.
edd
07-14 11:57 PM
I am wondering how hard it will be for USCIS to tell exactly how many EB3-I (and other) pending cases are out there. If they can break it via monthly, it will atleast tell us how long will it take to get to our respective PD's (without any legislation whatsoever). This would be worst case scenario and frankly would help me to plan my next move.
What makes bit confusing to me is that most of the people I know (outside california) with Eb-3 and PD less than Dec 2002, have already got their GC's
Someone mentioned FOIA. Can you please share the link on how to apply for the same
What makes bit confusing to me is that most of the people I know (outside california) with Eb-3 and PD less than Dec 2002, have already got their GC's
Someone mentioned FOIA. Can you please share the link on how to apply for the same
nojoke
04-21 04:19 PM
The trillion-dollar mortgage time bomb
http://money.cnn.com/2008/04/21/news/economy/fannie_freddie/index.htm?section=money_mostpopular
http://money.cnn.com/2008/04/21/news/economy/fannie_freddie/index.htm?section=money_mostpopular
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