Immigration Voice - Forums
Register Get Involved Contact Lawmakers Advocacy Discussion Image Image Image Image

Go Back   Immigration Voice > Immigration Voice Issues and Congressional updates > News articles and reports
Click to log in with Facebook
News articles and reports News articles, op-eds, reports on issues of immigration.

Closed Thread
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 09-20-2007, 03:07 PM
Senior Member
Priority Date
:
Mar-05
Category
:
EB3
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
I-140+I-485
I485 Mailed Date
:
Compare
Join Date: Jul 2006
Posts: 389
Blog Entries: 1
EndlessWait is a jewel in the rough EndlessWait is a jewel in the rough EndlessWait is a jewel in the rough EndlessWait is a jewel in the rough
Default 1$ = 39.90 on RBI..finally.

the fall of the Dollar continues...

check : http://www.rbi.org.in/
Bookmark and Share Compare


  #2 (permalink)  
Old 09-20-2007, 03:17 PM
Senior Member
Priority Date
:
Mar-05
Category
:
EB2
I140 Mailed Date
:
03/01/2007
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
08/01/2007
Compare
Join Date: Jul 2007
Posts: 302
HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute
Default Dollar slide will continue...

Dollar Slide will continue and this will be trend in the future.. China has started selling US treasury investments because of declining yield and value in US Dollar. Investing in India is good for the long term!!
Bookmark and Share Compare


  #3 (permalink)  
Old 09-20-2007, 03:26 PM
Senior Member
Priority Date
:
Jul-06
Category
:
EB2
I140 Mailed Date
:
10/06/2006
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
09/13/2007
Compare
Join Date: Jul 2007
Posts: 189
superdude has a spectacular aura about superdude has a spectacular aura about
Default World Economy in Flux As America Downshifts - Informatiove Article

For years, economists have warned that the U.S. can't run up endless charges on the national credit card to cover its huge appetite for imported cars, oil, electronics and other goods. Someday, they said, the bill will come due.

It looks like someday may have finally arrived.

After 16 years during which the U.S. mainly borrowed and bought while much of the rest of the world lent and sold, the global economy appears to be undergoing a fundamental shift. American exporters are finding eager overseas markets for their products. U.S. consumers are beginning to temper their free-spending ways as the housing boom turns to bust. China, the Middle East, central Europe and Africa are absorbing more of the world's imports. The result: Instead of depending as heavily on the U.S. for demand, the world economy could become more evenly balanced.

In the background is a U.S. dollar that has grown weaker against the euro, British pound, and many other currencies. The euro hit $1.39 this month, the strongest it has been since its birth in 1999. A J.P. Morgan index comparing the dollar to a basket of 16 currencies weighted by their importance to U.S. trade is now hovering around a low not seen in more than 10 years, a decline given a shove by this week's Federal Reserve move to cut interest rates.

All of this could well add up to a major readjustment of the U.S. trade deficit, which began in 1991 and has ballooned to a level that would have seemed unimaginable not long ago. The broadest measure of the trade gap, known as the current-account deficit, at the end of 2005 hit an all-time record of 6.8% of the gross domestic product, the value of all goods and services produced in the U.S. During the second quarter of this year it was down to 5.5%. That might just be the start.

Something "more rapid" could be painful. Since Americans have financed their prosperity with borrowed money, reversing that habit means a period of living less opulently.

It's still an open question how much the U.S. trade gap will contract, or whether some new development might again turn it back to widening. "The real key is understanding whether this is a fundamental change in the trajectory or whether it's temporary," says Catherine L. Mann, an economist at Brandeis International Business School. Ms. Mann knows how hard it is to tell; she predicted in 1999 that the current account would max out at 4% of GDP by 2002 and begin to contract.

If the turnaround persists, the implications for the U.S. could be profound. The weak dollar makes imports more expensive and raises an inflation risk. Interest rates are also likely to be higher than they otherwise would, as Americans have to offer higher yields to induce foreigners to put their money in the U.S.

The massive U.S. trade imbalance is the product of a tangle of causes and effects. It springs largely from foreign-exchange rates, the attractiveness of U.S. financial markets, the profligacy of U.S. consumers versus the thrift of consumers elsewhere and persistent differences in economic growth rates among countries.

Between 1999 and 2006, the U.S. economy grew an average of 2.9% per year, while Germany and Japan each limped along at 1.4% growth rates, according to the IMF. Faster growth means more imports. The richer Americans felt, the more they spent on Chinese toys, German motorcycles, Mauritian shirts or Japanese cars. The housing boom gave consumers a sense of well-being that led them to spend more freely than ever.

The U.S. government compounded the effect by overspending its budget and issuing Treasury securities to cover its debts. The central banks of China and Japan, among others, have bought trillions of dollars in U.S. notes.

For many years, the combination of those forces led the U.S. to buy far more from overseas than it sold abroad. In the second quarter of this year, the current-account deficit measured $191 billion, or more than $760 billion on an annualized basis. To pay for those imports, the U.S. has to attract $2.1 billion in foreign investments every day.

Conditions, however, have changed dramatically. These days, U.S. growth lags behind that of many of its overseas trading partners. The IMF is projecting 2% growth for the U.S. in 2007, and 2.6% growth for Germany and Japan. The 13 countries that share the euro are expected to grow 2.5% this year, according to Bank of America.

American consumers' endless confidence and insatiable appetite at the mall appear to have been jolted by falling house prices and, more recently, tight credit conditions. "The forces that had been supportive to excess consumption for a decade are now headed the other way, and the U.S. consumer just can't keep driving...America's current-account deficit to higher highs," says Stephen Roach, chairman of Morgan Stanley Asia in Hong Kong. Mr. Roach calls that "one of the key conditions...that could be critical in triggering a long-overdue rebalancing of the global economy."

The weak dollar and strong euro are taking a toll on European companies that try to tap U.S. markets, such as Wolfsburg, Germany-based Volkswagen AG.

Volkswagen has lost more than ‚?¨2.5 billion, or about $3.5 billion, in North America over the past five years, partly as a result of the dollar's weakness. The company said this month that it is considering building cars in the U.S. again for the first time in nearly 20 years, as a way of reducing its exposure to currency fluctuations. By making cars in the U.S., where costs and revenue are in dollars, companies help to insulate themselves from unfavorable exchange-rate changes. Currently, Volkswagen's only North American factory is in Puebla, Mexico.

"The North American region remains by far our biggest challenge," Hans Dieter Pötsch, Volkswagen's chief financial officer, recently told journalists and industry analysts during a conference call. "We clearly need to change our strategy here."

At the same time, the recent panic sparked by the impact of falling house prices on the subprime mortgage market may have somewhat damped global enthusiasm for Wall Street. The data are too recent and limited to allow a definitive conclusion, but Treasury figures released this week showed that net long-term capital inflows into the U.S., often volatile, measured just $19 billion in July compared with $91 billion the previous month. Investors chose instead to put their money in shorter-term securities.

"At the margin, rates in Europe and Japan are going to look more attractive, given the whole subprime mess," says Mr. Rogoff. "But I'm not saying there's going to be a wholesale cut-and-run out of the United States."

The slowing economy and uncertainty about U.S. financial markets are feeding back into the currency markets. "I expect to see more and more weakening of the dollar in the coming months and years," predicts Princeton economist Alan Blinder, a former vice chairman of the Federal Reserve Board. Currency trends are notoriously hard to predict, though. Mr. Blinder confesses that he thought the dollar was embarking on the long march downwards in 2002, only to see it pick up again in 2004. The Japanese yen has not gained much ground on the dollar compared to 10 years ago.

The slipping dollar also makes it easier for American companies to compete against overseas firms -- a key to reducing the trade deficit.

For years, Riverdale Mills Corp., in Northbridge, Mass., held 90% of the $10 million-a-year market for plastic-coated wire used in lobster traps in New England and Canada. By 2000, when the euro was worth just $0.85, an Italian company had taken a big bite out of the company's market share. But now, with the euro resurgent, Riverdale's wire seems like a bargain again. "Foreign competition got us down to 60% of the market, and now we're creeping back" to about 70-75%, says James M. Knott Sr., the company's chief executive.

Kendig Kneen, owner of Al-jon Manufacturing LLC, has seen his exports of car crushers, bailers and compactors jump 10% to 15% in the past 18 months, driven by faster growth abroad and an exchange rate that helps him take on his German and Italian competitors.

Al-jon, an Ottumwa, Iowa, company with more than $50 million in annual sales, has opened markets in Australia, Ukraine, England and elsewhere. "I'd like to think it's on the strength of my products, but part of it is the strong world economy and part of it is the dollar," says Mr. Kneen, who recently doubled the size of his plant and boosted his work force by 50%, to 150 employees.

There are still obstacles to a smooth rebalancing of global trade flows, and China is one of the biggest. Beijing has been reluctant to allow its currency, the yuan, to rise much against the dollar, despite fierce pressure from U.S. lawmakers and business executives who say that the artificially weak currency gives Chinese companies an unfair edge over American firms. The yuan has appreciated about 10% against the dollar since Beijing first allowed it to move in July 2005, but U.S. manufacturers -- backed by Treasury Secretary Henry Paulson -- say that's not far enough or fast enough to allow even-handed competition.

While China and India are bigger markets for U.S. companies than they used to be, "there are nearly one billion workers in Asia who earn less than $2 per day," says Bank of America's Mr. Quinlan. "They can afford a Coke, but until they can afford a car and computer, global rebalancing will proceed slowly.
__________________
Contributing Quarterly!!!
Greened on 06/04/2011
-------------------------------------
Our lives begin to end the day we become silent about things that matter.
- Dr. Martin Luther King, Jr.
Bookmark and Share Compare


  #4 (permalink)  
Old 09-20-2007, 03:43 PM
Junior Member
Priority Date
:
Jan-06
Category
:
EB2
I140 Mailed Date
:
07/01/2006
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
07/10/2007
Compare
Join Date: Apr 2007
Posts: 23
cgeek4u is on a distinguished road
Default

Great article. Thanks for posting.
Bookmark and Share Compare


  #5 (permalink)  
Old 09-20-2007, 03:45 PM
Senior Member
Priority Date
:
May-07
Category
:
EB2
I140 Mailed Date
:
07/05/2007
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
07/26/2007
Compare
Join Date: Jul 2007
Posts: 102
rbalaji5 is a jewel in the rough rbalaji5 is a jewel in the rough rbalaji5 is a jewel in the rough
Default



Let us go home before it reaches Rs.20..
Bookmark and Share Compare


  #6 (permalink)  
Old 09-20-2007, 03:53 PM
Member
Priority Date
:
N/A
Category
:
N/A
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
Labor Certification
I485 Mailed Date
:
Compare
Join Date: Jul 2007
Posts: 60
sachug22 is infamous around these parts sachug22 is infamous around these parts sachug22 is infamous around these parts sachug22 is infamous around these parts sachug22 is infamous around these parts sachug22 is infamous around these parts sachug22 is infamous around these parts
Default We lost 15% value of my saving in last 6 months

With $ Weakening, We lost 15% value of our saving in last 6 months !

Last edited by sachug22; 09-20-2007 at 04:25 PM. Reason: update
Bookmark and Share Compare


0 out of 1 members found this post helpful.
  #7 (permalink)  
Old 09-20-2007, 04:05 PM
Member
Priority Date
:
Jan-06
Category
:
EB2
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
I-140
I485 Mailed Date
:
Compare
Join Date: Mar 2006
Posts: 56
divakarr will become famous soon enough
Default

the truth is US is going to get worse, in 50 years, our next generation will apply green card to india and china.
Bookmark and Share Compare


  #8 (permalink)  
Old 09-20-2007, 04:36 PM
Senior Member
Priority Date
:
Jun-03
Category
:
EB2
I140 Mailed Date
:
01/01/2000
Chargeability
:
India
Processing Stage
:
I-140+I-485
I485 Mailed Date
:
01/01/2000
Compare
Join Date: Jul 2007
Posts: 152
sapota is a name known to all sapota is a name known to all sapota is a name known to all sapota is a name known to all sapota is a name known to all sapota is a name known to all
Default Market correction.

The US dollar is backed only by the US govt's word. There is no physical value (as its not gold backed) other than the fact that OPEC countries can only accept US dollar as payment for the barrels that any country buys from them.

The recent fed decision to decrease inter bank borrowing rate by 1/2% did no good to the already sliding dollar backed assets (like US treasuries).

The US dollar can only fall to a certain level before causing total global havoc. Countries still hold huge reserves of US $. They cannot convert that into gold or euro overnight.

The sliding US dollar does make the US very competitive & makes its exports favorable. Remember US workers are overpaid in comparison with other industrialized nations. Sliding dollar will correct that.

A govt. change is also overdue in the US. The next govt.; be it a democratic, or a republican will steer the direction of US foreign policy, federal budgets, trade deficits etc. Tax increases are long overdue - recently Alan Greenspan spoke openly about that.

Now for those seeking green cards & future citizenships here now; opportunistically moving to the most favorable nation that is at that time enjoying prosperity makes 'pledging alliance to the the US flag' a sham.

Just MHO & something to chew on.
Bookmark and Share Compare


  #9 (permalink)  
Old 09-20-2007, 04:49 PM
Senior Member
Priority Date
:
Mar-05
Category
:
EB2
I140 Mailed Date
:
03/01/2007
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
08/01/2007
Compare
Join Date: Jul 2007
Posts: 302
HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute HV000 has a reputation beyond repute
Default Collapse of Roman Empire in the future

Declining US Dollar againist Foreign Currencies
Obsolete Immigration program that services American Competitiveness
Unfettered US Debt to Foreign Countries
Increasing US Trade Imbalance
Declining ability for Social Secuirty to pay in the future
Self Imposed Debt to Iraq - $12B/Month
Obsession with Terrorism
Increasing Medicare and SS Tax
Unrestrained Spending without much thought
Unwanted provocation of Iran
Raising Chinese, Russian, Indian, and South American economies


All of the above are some trends that will facilitate DECLINE OF USA in the future....

Remember - WHAT GOES AROUND COMES AROUND

Last edited by HV000; 09-20-2007 at 04:53 PM.
Bookmark and Share Compare


  #10 (permalink)  
Old 09-20-2007, 05:07 PM
Senior Member
Priority Date
:
Jan-05
Category
:
N/A
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
N/A
I485 Mailed Date
:
Compare
Join Date: Apr 2007
Posts: 238
deardar has a spectacular aura about deardar has a spectacular aura about
Default

Quote:
Originally Posted by divakarr View Post
the truth is US is going to get worse, in 50 years, our next generation will apply green card to india and china.
They will need pink and white Ration cards.......
Bookmark and Share Compare


  #11 (permalink)  
Old 09-20-2007, 05:30 PM
Senior Member
Priority Date
:
N/A
Category
:
N/A
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
I-140+I-485
I485 Mailed Date
:
Compare
Join Date: Mar 2006
Posts: 177
STAmisha can only hope to improve
Default

If you don't like it here, please don't crib. It is your choice to stay here and chase the GC dream.

Yes they do have horrible mess of immigration.


Our common goal here is to correct the immigration system and not to crib about the down fall of dollar, trade defict etc.

Thanks (and please don't start yet another against this thread)

Quote:
Originally Posted by HV000 View Post
Declining US Dollar againist Foreign Currencies
Obsolete Immigration program that services American Competitiveness
Unfettered US Debt to Foreign Countries
Increasing US Trade Imbalance
Declining ability for Social Secuirty to pay in the future
Self Imposed Debt to Iraq - $12B/Month
Obsession with Terrorism
Increasing Medicare and SS Tax
Unrestrained Spending without much thought
Unwanted provocation of Iran
Raising Chinese, Russian, Indian, and South American economies


All of the above are some trends that will facilitate DECLINE OF USA in the future....

Remember - WHAT GOES AROUND COMES AROUND
Bookmark and Share Compare


  #12 (permalink)  
Old 09-20-2007, 05:36 PM
Senior Member
Priority Date
:
Jun-03
Category
:
EB2
I140 Mailed Date
:
01/01/2000
Chargeability
:
India
Processing Stage
:
I-140+I-485
I485 Mailed Date
:
01/01/2000
Compare
Join Date: Jul 2007
Posts: 152
sapota is a name known to all sapota is a name known to all sapota is a name known to all sapota is a name known to all sapota is a name known to all sapota is a name known to all
Default

Quote:
Originally Posted by HV000 View Post
Declining US Dollar againist Foreign Currencies
Obsolete Immigration program that services American Competitiveness
Unfettered US Debt to Foreign Countries
Increasing US Trade Imbalance
Declining ability for Social Secuirty to pay in the future
Self Imposed Debt to Iraq - $12B/Month
Obsession with Terrorism
Increasing Medicare and SS Tax
Unrestrained Spending without much thought
Unwanted provocation of Iran
Raising Chinese, Russian, Indian, and South American economies


All of the above are some trends that will facilitate DECLINE OF USA in the future....

Remember - WHAT GOES AROUND COMES AROUND
It is true that the US in general is not enjoying its military, technological & economical superiority that it did just after the collapse of the Soviet Union. It may never have that status in the future too. But as a single country, no other country can currently topple US position. (Euro is not a single country).

Some of the points you highlighted are solved when the current US govt. changes hands. & some of the issues are probably unsolvable (Increasing Medicare and SS Tax).

In the longer term, it is imperative that the US cooperates with other nations more just to sustain its place in the world. (If more countries & UN supported the wars, those bills are shared (this does not justify the war IMO).

US has to cooperate more with like minded democratic countries (nothing against other countries but this is a geopolitical issue). We do see that happening. IMO the nuclear deal between India & US is a very strategic move against China.

Digressed enough from US immigration & receipt numbers. :-)
Bookmark and Share Compare


  #13 (permalink)  
Old 09-20-2007, 06:15 PM
Senior Member
Priority Date
:
Dec-06
Category
:
EB2
I140 Mailed Date
:
01/30/2007
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
07/19/2007
Compare
Join Date: Dec 2006
Posts: 356
sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute sam_hoosier has a reputation beyond repute
Default

Quote:
Originally Posted by divakarr View Post
the truth is US is going to get worse, in 50 years, our next generation will apply green card to india and china.
I am hoping you have/would apply for a PIO card Then they will not need a GC for India
__________________
Got Green Card in August 2011
Bookmark and Share Compare


  #14 (permalink)  
Old 09-20-2007, 06:33 PM
Member
Priority Date
:
Apr-07
Category
:
EB2
I140 Mailed Date
:
08/14/2007
Chargeability
:
India
Processing Stage
:
I-140+I-485
I485 Mailed Date
:
08/14/2007
Compare
Join Date: Jan 2007
Posts: 99
valuablehurdle is a splendid one to behold valuablehurdle is a splendid one to behold valuablehurdle is a splendid one to behold valuablehurdle is a splendid one to behold valuablehurdle is a splendid one to behold valuablehurdle is a splendid one to behold valuablehurdle is a splendid one to behold
Default

Thank God !! I took the right move by getting the Canadian Citizenship and an Overseas Indian Citizenship.
Today, I got the news that the C$$ has reached parity with US $$ - and is in fact surging ahead.

Earlier, I was so depressed about the GC. This has lightened my spirits a bit. Things are changing all over the world for good.
Bookmark and Share Compare


  #15 (permalink)  
Old 09-20-2007, 07:24 PM
Senior Member
Priority Date
:
Oct-03
Category
:
EB3
I140 Mailed Date
:
03/04/2006
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
08/11/2007
Compare
Join Date: Feb 2006
Posts: 146
laborchic is a glorious beacon of light laborchic is a glorious beacon of light laborchic is a glorious beacon of light laborchic is a glorious beacon of light laborchic is a glorious beacon of light laborchic is a glorious beacon of light
Default

Quote:
Originally Posted by divakarr View Post
the truth is US is going to get worse, in 50 years, our next generation will apply green card to india and china.
Stand Corrected: they need to apply for ration card's and I will definitely HONK for their rally in front of Rashtrapati Bhavan.. LOL.........
__________________
DONT TRY TO MEET THE STANDARDS... SET THEM

http://groups.yahoo.com/group/immigrationvoiceny/
Bookmark and Share Compare


Closed Thread

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On

Similar Threads
Thread Thread Starter Forum Replies Last Post
Finally...GC dineshksharma Interesting Topics 49 08-30-2009 09:08 PM
Finally Finally Finally .... ivar PERM Processing 14 05-03-2009 02:56 AM
Finally gcpool All other Green Card Issues 29 10-02-2008 06:24 PM
Got GC finally.... prinive Receipt tracker of 485, EAD and AP applications 2 04-10-2008 07:36 PM
LUD on AP, Finally p_kumar Work/Travel options after 485 : H1 Versus EAD/AP 2 11-16-2007 10:19 PM



All times are GMT -4. The time now is 10:26 AM.


Powered by vBulletin® Version 3.7.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
(c)ImmigrationVoice.org