Comments by BailoutNation

Now we know why computer "engineers" from India always do such shoddy work.

Online universities are probably the wave of the future if college cost continues to escalate. However they definitely suffer from an image problem regarding actual quality. To make this alternative really work we need many more certification exams like the CFA, CPA, BAR, ARE, Electrician Licensing etc. So in the future, Certified Computer Engineer, Certified Software Architect, Certified Statistician, Nurse etc. would be the accepted qualification and benchmark for someone to practice in that profession, and it won't matter where you did the learning, what matters is how well you did in these industry accepted rigorous exams, which must be taken in person and could include hands on demonstration.

HomeDepot's failure doesn't surprise me whatsoever. I only need to look around and see how poorly kept up the houses of most of our Asian neighbors are to know DIY is a foreign concept to them. Even if they buy a million dollar home, they don't take care of it. I think Asians only know how to study and get good grades, handy work or yard work is best left to handymen and landscapers, for whom they are too cheap to hire.

As for ostentatious display of brand names and showy cars, not surprising either. Most Asians are crude and tacky by western standards, especially the Chinese. They think "class" = money. But then again, they are hardly alone in that regard. Many people around the world are that way, esp. the nouveau riche. Chinese are just more in your face about it. When money is your religion, you tend not to have a soul.

At some point you have to wonder what is wrong with the men in these Southeast Asian countries. Seems all they know how to do is live off their women, from maids, prostitutes to mail order brides, where are the men in countries like Phillipines, Indonesia, Cambodia, Thailand? For goodness sake man up and take care of your mothers, wives, sisters and daughters instead of pimping them!

This is the biggest reason why these Southeast Asian hellholes could never prosper like China, Japan, Korea, or the Chinese diaspora dominated countries like Singapore, Taiwan, HK. They may be male centric but at least the men in these countries take care of their families!

America isn't hurting enough, not when we're still paying badly behaving pro athletes $20M-$100M a year just to play ball, when people are still paying $2,500 per ticket to see a baseball or football game, when lazy spoiled entitled teens are still facebooking and partying their way through high school and college and expected to be handed a $70k a year job on graduation, when parents still think it's okay to sink $100K into a college degree in "Religious and Women's studies" for their kids.

Today it's a tale of two cities, soon we will discover we were living on borrowed time.

No offense but the NYTimes article sounds like a pipe dream.
On a PPP basis,
Per capita GDP in the US = $47,200
Per capita GDP in Mexico = $14,400

i.e. flow of immigration from Mexico will not stop until per capita GDP in the US goes down to $14,400...shouldn't be long now, at least in real terms.

All the skyscrapers in the desert can't drag these medieval ragheads into the 21st century.

Another "immigration is all good, there is no down side to immigration" article from the Economist. Yawn.

Greece will always be Greece, because they are occupied by Greeks who only know how to be unionized government workers, self-employed tax evaders or full time protesters.

Mexico will only go from bad to worse so long as the US continues to accept any Mexican who can run, jump and swim to cross the border and have their babies, and voila! Instant American citizenship, free welfare, education, healthcare. Who's left behind to fight the drug cartels? The weak, the old, the sick, the corrupt. We need to send packing the 11 million Mexicans, legal or illegal, back to Mexico to rescue their own country from the drug cartels. And for anyone who argues that "illegals benefit the US economy", all the more reason to let them go home and benefit their own country, they've "benefitted" America enough. Thank you.

Practical people are smart people, and smart people like to stick together. The Germans and the Chinese are probably 2 of the smartest peoples around, along with the Russians. I'm sure closer alliance between these 3 would bug the living daylights out of the impratical idealistic hypocritical self-righteous Anglo-American alliance, now under the leadership of the egotistical French.

Germany should get out of the EU unless the EU breaks off into Euro 1 and Euro 2 zones, with Euro2 for the PIIGS. China should study Germany's apprenticeship program rather than follow the US/UK university system of graduating millions of useless (these days unemployed) college grads every year.

Should we attribute India's abysmal economic state to its "population dividend" or its "democracy dividend"?

When visiting the Grand Canyon, you can now take the elevator down to the bottom of the canyon.

Singapore is a fine country. They have a fine for everything.

Canada is just the 51st state. Everything is the same (as the US) except they use play money.

Why are the Chinese "importing" their laborers from China? Why can't they hire locals? This is like the Indian outsourcers importing their workers into the US. Neither should be allowed! They are sucking dry the local resources without helping the local economy. In the case of China, the money goes to the corrupt governments, be it Myanmar or Angola. In the case of India, the money goes to greedy CEOs and Wall Street. In both cases, the losers are the ordinary citizens who lost their homes and jobs. This is a new form of colonization that benefits the few at the expense of the many. Greed knows no bounds. Beware, if kept up this could lead to simmering resentment and eventually unrest.

Paul Krugman is a brain dead economist. In his obsession to screw creditor nations like China, he conveniently forgot that a grossly inflated dollar will punish all the hardworking savers in the US, while rewarding the spenders and borrowers. People need to wake up and realize that deflation is just what we need. Housing, food prices, salaries have gone out of whack since the dot com boom. It's simply unsustainable. Prices simply need to come down until supply meets demand. Inflating the currency just so your house price doesn't come down is a good way to fool people who don't understand finance. Those who actually have a brain need only to look at how much our grocery bills have gone up just in the last 2 years to know that the relentless printing of money by the Fed is only making us all poorer in real terms. Yet Krugman continues to call for more of the same. Krugman and the Fed both need to go die, period.

Yet another "Immigration is all good, there is no downside to immigration, anyone who opposes immigration is just a xenophobe" article from the Economist. Yawn.

This, is why America is going bankrupt. We are spending all the money we don't have protecting a world that doesn't even want our protection...hey, those idiots just don't know what's good for them! Meanwhile, we force all other countries to arm themselves to the teeth just so they wouldn't be invaded like Iraq. All this of course, benefits the defense contractors and weapons makers of the world, as well as the government buyers who get kick backs by awarding them the contracts.

Meanwhile, Hillary Clinton continues to toe the line of the ex-British imperialists (who run the Economist) and send out frequent "warnings" to our imaginary enemies and seek "containment" strategy against China everywhere. All this while China spends less than 1/7 we do on defense, and use their money instead to develop their infrastructure, economy and education system, while we let ours rot! America has become too stupid of a nation to continue on as a superpower. We are becoming an increasing danger not just to ourselves, but to the rest of the world.

Who died and made the EU God?

@Varun GuptaIndia: The Japanese and German auto companies only brought in a small number of their managers and supervisors. After training the US workers to do things their way, they replaced them with Americans. The Indians brought in their managers and all the underqualified warm bodies to get trained by the Americans they replaced at half the cost, plus the janitors, cooks, drivers, all their relatives...all here to stay. BIG difference.

It's true the US has many effed up government policies, from inflation inducing massive deficit spending to corporate greed that continues to turn a blind eye towards what these Indian outsourcers are doing. What our government needs to do is to put in new laws to restrict not offshoring, but unlimited importation of foreign workers into this country, that's the main reason why our unemployment is so high, esp. among college graduates.

The Indian outsourcers have no trouble training their under qualified college grads, but wouldn't train the US college grads, eventhough salaries in the US have gone down so much for college grads of non-engineering degrees(average $27k) they are on par with that they pay the Indians. There is nothing more offensive than foreigners coming in by the hordes to do low quality work for cheap pay then calling Americans "stupid". If you Indians are so smart, go invent something, stop being leeches and leeching off America's IT industry.

Send packing all the foreign nationals working in the US, legal or illegal, and our unemployment problem will instantly go away.

I have no problem with Indian IT firms taking jobs offshore to India and hire the locals, i.e. Indians, to fill those positions in India . My main problem is when they come onshore to the US to take over the rest of the jobs that cannot be offshored, i.e. jobs that require more client interface. Instead of hiring American workers to do those jobs left in the US, these Indian outsourcers shamelessly insist on importing all their workers directly from India into the US, many are subpar by their own admission, and gets paid pittence, $40k a year to the $80k a year typically paid to US programmers, producing work at 50% of the quality. In the last decade, at least 2M Indian IT workers have been imported into the US under H1-B, B1, L1. Once here, many choose to overstay their visa rather than leave. In 2010 Indians surpass Mexicans and became the group with the highest % increase of illegal immigrants in the US. When the US tries to pass a law that demands no more than 50% of their US staff be Indians, these Indian outsourcers loudly complaint about losing their cost advantage, and threatens to take the US to the WTO.

When US firms operate in India or China, we don't bring over hundreds of thousands of American workers to work there. We hire locals. When Toyota and BMW opened factories in the US, they hire Americans, instead of bringing in tens of thousands of Japanese and German autoworkers. No one country is as shameless as India when it comes to this issue, who continue to insist that this is a "trade" issue rather than what it really is, an immigration issue, and repeatedly threatens to drag the US to the WTO when we raised the H1-B visa fee by a paltry $2000. These Indian outsourcers have played a large hand in sucking dry America's middle class jobs, while at the same time paying all parties like dubious one man "think tanks" or H1-B shills like Vivek Wadhwa to spout propaganda about how they actually "create" jobs in the US and insist on more H1-Bs, calling anyone who complaints "racist". Utterly shameless.