protectionism short sighted and stupid
we seem to think we own all companies, but many simply do biz here and don't have hq here.
the companies do biz around the world. why shouldn't they hire workers around the world?
I don't believe however they should have the god given right to bring foreign workers into the US.
the international hiring is a cost-cutting response to decades of over-spending by the US govt and massive inflation caused by out of control currency printing. The inflation is only hidden now by cheap chinese goods and inability of companies to raise prices on goods to reflect costs during this downturn. Also the govt bureaus manipulate figures (lie basically) to make inflation appear smaller than it really is.
THe current crisis which bernanke 'fixed' was actually caused by him loosening the fiscal reigns in 1999 as precursor to y2k. This methods allows the govt to spend without borrowing or raising taxes, both of which are more visible. It allowed the previous presidents and congresses, senates to 'finan-sturbate', 'stimulating' themselves with dollars, and giving in to endless calls for govt handouts. Almost makes me believe in the 'mystical magical money fairy' that flits around spewing dollars it just printed.
The fed is a one trick pony, it can only spray dollars out like a fire hose. Even raising interest rates doesn't get rid of the currency in circulation unless the fed buys it back and eliminates it which is highly unlikely in today's trillion dollar deficit days.
