<<<<< JOB DESTRUCTION NEWSLETTER  No. 1982 -- 2/23/2009 >>>>>

The newest commentary by Paul Craig Roberts is scary stuff. Don't read it
until you are sitting down!

It's about a lot more than H-1B, but the important thing is that he
understands the role H-1B in furthering the downfall of the U.S. economy.
It's actually very rare to find a prominent writer that understands the
relationship between H-1B and age discrimination.

Here are three great excerpts from the article. It's worth your time to
read it all. Vdare has an excellent archive of Paul Craig Roberts articles
at:
http://www.vdare.com/roberts/all_columns.htm


http://www.vdare.com/roberts/090223_economy.htm
By Paul Craig Roberts

   "The American corporations quickly learned that by declaring "shortages"
of skilled Americans, they could get from Congress H-1b work visas for
lower paid foreigners with whom to replace their American work force.  Many
US corporations are known for forcing their US employees to train their
foreign replacements in exchange for severance pay."


   "The pressure of jobs offshoring, together with massive imports, has
destroyed the economic prospects for all Americans, except the CEOs who
receive "performance" bonuses for moving American jobs offshore or giving
them to H-1b work visa holders.  Lowly paid offshored  employees, together
with H-1b visas, have curtailed employment for older and more experienced
American workers.  Older workers traditionally receive higher pay. However,
when the determining factor is minimizing labor costs for the sake of
shareholder returns and management bonuses, older workers are unaffordable.
Doing a good job, providing a good service, is no longer the
corporation’s function.  Instead, the goal is to minimize labor costs at
all cost." 


   "If truth be known, the "banking problem" is the least of our worries.
Our economy faces two much more serious problems.  One is that offshoring
and H-1b visas have stopped the growth of family incomes, except, of
course, for the super rich."

+++++++++++++++++++++++++++++++++++++++++++++++++++

The following article is a very good one and well worth reading. Scott
Nelson makes very good points that what we are experiencing is more like
the "Panic of 1873" than the "Great Depression." One of his conclusions is
flawed -- apparently he didn't read the microfilm all the way to the year
1885. By that time the U.S. public decided to put an end to allowing robber
barons from exploiting cheap foreign labor like coolies to do the work
Americans wanted. Using coolies and other types of cheap foreign labor was
not a matter of scapegoating as a much as a matter of fact. Indentured
servitude was outlawed when the Alien Contract Act of 1885 was passed. It's
unlikely this law would have ever passed had the Panic of 1873 never
occurred. The 1885 law did a fairly good job of protecting Americans from
cheap foreign labor until its repeal in 1952 when the H-1 visa program was
established.

Looks like history is repeating itself!


http://chronicle.com/temp/reprint.php?id=477k3d8mh2wmtpc4b6h07p4hy9z83x18
The Real Great Depression
The depression of 1929 is the wrong model for the current economic crisis
By SCOTT REYNOLDS NELSON


   "A widespread consolidation of industries may be on the horizon, along
with a nationalistic response of high tariff barriers, a decline in
international trade, and scapegoating of immigrant competitors for scarce
jobs. The failure in July of the World Trade Organization talks begun in
Doha seven years ago suggests a new wave of protectionism may be on the
way."

   "In the end, the Panic of 1873 demonstrated that the center of gravity
for the world's credit had shifted west -- from Central Europe toward the
United States. The current panic suggests a further shift -- from the
United States to China and India. Beyond that I would not hazard a guess. I
still have microfilm to read."



- - - - - - - - - - - - - - - - - - - - - - - - - - - -
Newsletter Homepage:
http://www.JobDestruction.com/shameh1b/JobDestructionNews.htm

Support this Newsletter and www.JobDestruction.com by donating:
www.zazona.com/Donations.htm

To Be removed from this mailing list, reply to this
email with UNSUbSCRIBE in the subject window
- - - - - - - - - - - - - - - - - - - - - - - - - - - -