[Goanet] India's outsourcing bubble is bursting
Date: Sun, 5 Oct 2008 00:30:16 -0400 From: MD\Mello [EMAIL PROTECTED] Barack Obama intends to implement a 21st century economic agenda to help ensure that America can compete in a global economy, and ensure the middle class is thriving and growing. He will increase investments in infrastructure (which is falling behind, it's nuclear reactors are becoming old). Nuclear plants, wind produce environmentally clean energy, reduce dependence on foreign oil, improve education, research and development; modernize and simplify tax code that provides greater opportunity and relief to more Americans; He intends to mplement trade policies that benefit American workers and increase the export of American goods. Mario asks: MD, Since Obama has never done any of these things before, how do you decide whether to believe him or not? Do you work for the Obama campaign? Do you have any idea what his background and experience is? MD writes: Before the war in Iraq ever started, Senator Obama said that it was wrong in its conception. In 2002, then Illinois State Senator Obama said Saddam Hussein posed no imminent threat to the United States and that invasion would lead to an occupation of undetermined length, at undetermined cost, with undetermined consequences. Since then, Senator Obama has laid out a plan on the way forward in Iraq that has largely been affirmed by the bipartisan Iraq Study Group led by James Baker and Lee Hamilton. Mario asks: MD, what do you have against the innocent Iraqi people? What have they ever done to you? Did you prefer what Iraq was like under Saddam Hussein? Did you ever hear of all those mas graves? Do you know why the UN imposed no-fly zones in Iraq? Did you ever hear of the 17 UN resolutions that Saddam never complied with and the sanctions that the UN imposed on Iraq? I wonder why they did that. Do you have any idea what Saddam did between 1990 and 2003? MD writes: Just imagine the amount America has so far spent on Iraq, despite all that the absolute winner is Iran, as Shia majority that is ruling Iraq, has more loyalty to fellow Shia Iran, the invasion induced Al-Qaida to establish in Iraq, the Sunnis are given incentives to contain violence, and even Hezbollah has become part of the Lebanese government. The money saved from Iraq will help American domestic economy. Mario asks: So, it is the money you are concerned about, and not the tyranny that the Iraqi people were subjected to, not to mention the menace to the entire region? I guess this means we need to count our money before we go rescue someone being subjected to tyranny. No wonder we see so many people being brutalized in Africa - no one is willing to spend the money to help them, except that America has pledged to spend 63 BILLION dollars to help them fight HIV/AIDS, TB, and malaria. Just imagine what Iraq would have been like if, after Saddam's heavy and brutal heel had been removed from their necks, the Iraqis would have decided to reject Al Qaeda and worked together, with American sid, to reconstruct their country and live in peace and harmony, just like the citizens of Italy, Germany and Japan did after WW-II? MD writes: India's domestic economy is flourishing so much, it does not even has to look out for export. In fact when they controlled export of rice, the price went up in no timein Canada! and consumers began hoarding rice! In fact I heard quite a few Americans are working in Bangalore! Finally it is not so easy to abruptly stop the already outsourced jobs, as the cost of relocating them back to USA may be prohibitive. Mario responds: India's outsourcing bubble is bursting By Saritha Rai, silicon.com Excerpt: Bangalore, India--Once a high-flying tech hub, Bangalore is seeing more sober days in the wake of the credit crisis. It looks like the global economic turmoil and the dramatic Wall Street meltdown is beginning to hit Bangalore. MD writes: Without prejudice and information obtained from the world Wide Web. Mario responds: Oh, really? Nice try, MD. I know I was born at night, but it was not last night:-))
[Goanet] India's outsourcing bubble is bursting
Date: Fri, 3 Oct 2008 23:28:38 -0400 From: Goanet News Service [EMAIL PROTECTED] India's outsourcing bubble is bursting By Saritha Rai, silicon.com Bangalore, India--Once a high-flying tech hub, Bangalore is seeing more sober days in the wake of the credit crisis. It looks like the global economic turmoil and the dramatic Wall Street meltdown is beginning to hit Bangalore. Mario responds: This is the inevitable result of the end of a business cycle in the US, the economic engine of the world economy, the economic turmoil in Europe, and inflation in India. Before 1992, before outsourcing and globalization caught on, a US business cycle was three to four years. The last two have been seven to eight years. These cycles never last for more than six months, and there is no reason to believe that this one will be any different, since the excesses of the banking industry are already shaking out and the US always addresses its problems rather quickly. What will be bad news for India will be if Barack Obama is elected this November for several reasons, a) his policy of raising taxes, he says he will cut tax rates for 95% of income earners, but some 40% of income earners pay no income taxes to begin with, b) his policy of using expensive and inefficient government programs as opposed to the private marketplace to solve social and economic problems, c) his policy of trade protectionism to maintain his political support from the American labor unions, which will directly impact outsourcing, and d) the relative lack of checks and balances on his policies because the Congress is likely to be controlled by his own party.
[Goanet] India's outsourcing bubble is bursting
There are 37 million poor Americans. Most poor Americans are in the workforce, yet still cannot afford to make ends meet (one can imagine it by the numbers of house foreclosures each month). And too many poor Americans are single mothers who are raising children, probably depend on welfare and no 'medical coverage'. There is no more fundamental American right than the right to vote. Before the landmark 1965 Voting Rights Act, barriers such as literacy tests, poll taxes and property requirements disenfranchised many Americans, especially minorities. More than 40 years later, there are still numerous obstacles to ensuring that every citizen has the ability to vote. Barack Obama intends to implement a 21st century economic agenda to help ensure that America can compete in a global economy, and ensure the middle class is thriving and growing. He will increase investments in infrastructure (which is falling behind, it's nuclear reactors are becoming old). Nuclear plants, wind produce environmentally clean energy, reduce dependence on foreign oil, improve education, research and development; modernize and simplify tax code that provides greater opportunity and relief to more Americans; He intends to mplement trade policies that benefit American workers and increase the export of American goods. Before the war in Iraq ever started, Senator Obama said that it was wrong in its conception. In 2002, then Illinois State Senator Obama said Saddam Hussein posed no imminent threat to the United States and that invasion would lead to an occupation of undetermined length, at undetermined cost, with undetermined consequences. Since then, Senator Obama has laid out a plan on the way forward in Iraq that has largely been affirmed by the bipartisan Iraq Study Group led by James Baker and Lee Hamilton. Just imagine the amount America has so far spent on Iraq, despite all that the absolute winner is Iran, as Shia majority that is ruling Iraq, has more loyalty to fellow Shia Iran, the invasion induced Al-Qaida to establish in Iraq, the Sunnis are given incentives to contain violence, and even Hezbollah has become part of the Lebanese government. The money saved from Iraq will help American domestic economy. India's domestic economy is flourishing so much, it does not even has to look out for export. In fact when they controlled export of rice, the price went up in no timein Canada! and consumers began hoarding rice! In fact I heard quite a few Americans are working in Bangalore! Finally it is not so easy to abruptly stop the already outsourced jobs, as the cost of relocating them back to USA may be prohibitive. Without prejudice and information obtained from the world Wide Web. Maurice D.
[Goanet] India's outsourcing bubble is bursting
India's outsourcing bubble is bursting By Saritha Rai, silicon.com Bangalore, India--Once a high-flying tech hub, Bangalore is seeing more sober days in the wake of the credit crisis. It looks like the global economic turmoil and the dramatic Wall Street meltdown is beginning to hit Bangalore. Until recently, in India's outsourcing hub it used to be one big Googlefest, with all the pampering and cosseting that employees enjoy at the company's Googleplex headquarters in Silicon Valley. I don't know what the latest from Googleplex is. But in Bangalore, it sure looks like the party is slowing down. The first sign is in real estate. In a city where residential communities like Silver Manor, Golden Enclave and Platinum City sprouted to house thousands of young, upwardly mobile technology workers, instead of 200 million-rupee homes, developers are now beginning to market 2 million-rupee condominiums. Departmental stores sport 'sale' signs every other week as credit-card-happy tech workers are cooling off consumption. In India's top management schools, including the Bangalore branch of the Indian Institute of Management, technology outsourcing firms, multinationals and Wall Street banks used to slug it out for Day Zero spots during Placement Week. For students in the graduating class, that exercise is months away. But the schools are already planning to offset an expected slowdown in placements by inviting more companies. http://news.zdnet.com/2424-9595_22-238208.html Goanet News Service http://www.goanet.org
