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2019-08-12 09:30 by Karl Denninger
in Corruption , 250 references Ignore this thread
Trump Has Done NOTHING - AGAIN
[Comments enabled]

Call it what it is folks.

Intentional lying by both industry and government-funded institutes designed to severely damage the rate of pay for high-skill, high-cost labor.

Just like industry does on the low end with agricultural and construction working, hiring illegals, the H1b program was designed to screw Americans.

During the late 1990s I became convinced that in order to orchestrate lower wages for scientists, there would have to have been a competent economic study done to guide the curious policy choices that had resulted in the flooded market for STEM PhDs. For this theory to be correct, the private economic study would have had to have been done studying both supply and demand so that the demand piece could later be removed, resulting in the bizarre ‘supply only’ demographic studies released to the public. Through a bit of economic detective work, I began a painstaking search of the literature and discovered just such a study immediately preceded the release of the foolish demography studies that provided the public justification for the Immigration Act of 1990. This needle was located in the haystack of documents the NSF was forced to turn over when the House investigated the NSF for faking alarms about a shortfall.

The National Science Foundation was the source folks.

A US Government agency.

Which, the evidence shows, intentionally, as the author describes:

American industry and Big Science convinced official Washington to put in place a series of policies that had little to do with any demographic concerns. Their aims instead were to keep American scientific employers from having to pay the full US market price of high skilled labor.

At the same time the very same government was underwriting college debt and guaranteeing it.  Then Obama came into office and put that into hyperdrive, resulting in the skyrocketing student debt situation while at the same time the very same government -- ours -- intentionally suppressed wages to screw graduates.

This was a flat-out intentional scam orchestrated at the highest levels of our "research agencies" in cooperation with (and, no doubt, at the insistence of) corporate entities as well.  It was passed through by Congress and signed by the Executive.

It was singularly designed to screw everyone in STEM fields by suppressing their wages while at the same time these very same government entities were cranking the cost of college ever-higher and our government schools were shutting down shop and other vocational classes and insisting that the only way to succeed was to attend said colleges.

This had nothing to do with labor shortages -- not then nor now.  It was and is a scam and Donald Trump has done exactly nothing to resolve it.

To all of you Millennial folks and beyond: Why haven't you started building gallows yet or writing the next edition of a document that begins with "When in the course of human events"?

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Onelegged
Posts: 508
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NW Colorado
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I have a friend with a PhD in fisheries. The stream restoration company she works for bills her out at $135 per hour and pays her $20 per hour. Its a joke. Unfortunately shes too afraid to strike out on her own.

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The light at the end of this tunnel is a train and it's gathering speed.
Tickerguy
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PhD @ 40,000/year, 1099 so you get to pay all your own taxes too.

Tell me again why you'd go get that PhD?

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Winding it down.
Tdurden
Posts: 813
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I've had a front row seat to this bull**** every day for the past 15 years. Somewhere around 2002-ish the telecoms and other tech companies decided they were never again going to be at the mercy of those ******* american tech workers who expected to earn enough to pay back their student loans AND pay the rent. The northwest Columbus suburb where I work is being gutted like a trout by the CEO/political skull-****ing of the American tech workers. The big contest seems to be which can be done faster: off-shore the work to India so they can wholesale fire Americans or move in the H1B's and make the Americans train their own 3rd world replacements.

We have our own Little Mumbai here where the Indians have grouped in two apartment complexes that used to be desirable places to live. Families of the Indians came along for the ride and they have taken up the retail jobs at the Walmart and the only 2 big retailers left at the dying shopping mall. Shopping at any of those is a lesson in frustration because the clerks can't make change. Not so much that they can't handle simple math as it is they don't know what a dime or a quarter is (that's not an exaggeration). Most of the restaurants have closed up because, well, not much business at the Steak & Shake Roadhouse from the population that doesn't eat cow.

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"I'd like to live just long enough to be there when they cut off your head and stick it on a pike as a warning to the next 10 generations that some favors come with too high of a price." -Vir Cotto Babylon 5
Wifi
Posts: 1614
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Seagrove Beach
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From president Trump, I expected nothing, nada, zero. Same as all presidents before him. The president of The United States of America? It's an illusion, might as well be poser, puppet in charge, of America!

So far from president Trump, I have yet to be disappointed.


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Ingar
Posts: 39
Incept: 2017-02-14

Mobile,AL
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No, and he will continue to do nothing per wishes of the US Chamber of Commerce and the big tech companies. About 25 years ago a neighbor who worked for Brown & Root construction told me that B&R farmed out a lot of their engineering work to Indian firms for about $8.00 per hour. An American engineer can't live on wages like that, much less pay off student loans. A few years later, I read of a New Jersey IT firm that hired H1B visa holders from India to replace their American workers. The Americans had to train their Indian replacements or they would not receive severance pay. They should have all walked off the job when the first Indians showed up or burned the business to the ground with the CEO/owners trapped inside. I read that the same thing happened at Disney World a few years ago. Should have been burned to the ground. I won't ever spend a dime with those c**ksuckers and tell all of my acquaintances to do the same. I am thankful that I got into a career that could not be exported or that Americans would not patronize were it run by Indians.
The H1B visa program is a dagger in the back of the American worker. I don't know what program the Indian hotel/motel and convenience store owners got into the USA with, but it probably involved some b*llsh*t argument that the USA was lagging dangerously behind in independent hotel and convenience store technology. If the owners and managers of the chicken gutting plants in Mississippi whose businesses were raided by the INS last week receive no jail time or bankrupting fines, this will be further evidence that the government is run completely for the benefit of campaign contributors to our rulers. If I ever saw any of our elected US government officials on fire, I wouldn't p*ss on them to put out the flames.
Click
Posts: 534
Incept: 2017-06-26

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Offshoring jobs and onshoring immigrants has been the trend for decades. And it's only intensified; the trend will continue until the collapse of Western Civilization. And I don't just mean the collapse of one country, e.g., France, Germany, Great Britian or Empire America. I mean the whole damn thing. All of it. ALL of the Western Countries that matter are both offshoring and onshoring by the hundreds of millions.

Diversity Empire America is now the third most populated country in the world. And who is populating it? The OtherColors, that's who... And I'll give you one guess how this demographic shift ends. Do you think it's a happy or unhappy ending?

What's actually been happening to America is an historical cycle. And historical cycles don't play out in the exact same way each and every time, but they all rhyme. Can you hear the music?

"Ground control to Major Tom: the circuit's dead and there's something wrong"....

What's wrong? I'll give an example: 30 years ago California used to be how White? (80%)--- and how Republican ( super majority)? Where did Ronald Regan come from? Just take a look at California now... And in case it has escaped your notice Florida and Texas are in a race to become the New California. What happens to the American Diversity Empire after the race is over?

My oh my! How times have changed.

There was a time when the White Man exterminated the American Bison and basically starved the American Indian(s). For every White Man who was killed by an Indian the Colonial Powers were shipping in a 100 White replacements. Outnumbered, outgunned and undersupplied the American Indian (including dozens of great Indian Nations) were vanquished... Who's getting their ass handed to them now?

What goes around comes around, and it ain't always fair. As a very White Man, myself, I sure don't like what's happening to my race. The White Man is on the downward part of the demographic cycle. And once a certain percentage of loss has been reached, it's over for the White Western Civilization. All of it.

My youngest is going to college to become a chemical engineer. In real terms it won't pay anything near what his grandfather made during the amex of White Civilization, but here in Houston (where there are still some high paying jobs) it'll be better than most degrees... And at least all of my immediate family are on the same page as me. We all know how this ends... It's only a matter of time... tick, tick, tick... BOOM!

Robodog
Posts: 330
Incept: 2011-06-12

a red Isle in blue sea MD
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Onelegged: That's stark, quite. Back before the current malaise, say more than a dozen years ago, when labor was in the back seat not the rumble seat as it is now, the allocation that drove service income/fees in non-product enterprises was ~1/3 for wages & burden (e.g. taxes, workers' comp & fringes), 1/3 for overhead, 1/3 profit to the owners. I reckon Greenspan was right when he deemed the working clasees the precariat and right or wrong (I say wrong) it was the plan.

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Out here they're beholden to none, not livin' by another's leave. Last of the Mohicans
The greatest trick the Devil ever pulled was convincing the world he didn't exist. The Usual Suspects
Aquapura
Posts: 900
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South of Canada
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I read the other day that someone polled kids from around the world the age old question of what do you want to be when you grow up. The #1 response from kids in the USA and UK was to be a Youtube vlogger??!! Kids in China said astronaut.

My initial response was this is more proof of our decline. Then my better half tells me that those Youtube personalities can make big $$$ and compared to being an astronaut it probably is more achievable. One would think with the stardom of Facebook and Apple and Amazon and other darling companies kids would want to be innovators in technology. Apparently not.

At least criminal banker or criminal politician didn't make the list. That is a silver lining....I think.
Tdurden
Posts: 813
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Online
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In other, more promising news, India and Pakistan are inching closer to nuking the ever-loving dog**** out of each other over Kashmir. While the prospect of roughly a billion people perishing when the population and industrial centers are vaporized would be sad, it would bring so much joy to my heart at the thought of all those ******* executives forced to grovel at the feet of the Americans they fired to come back and rebuild all of the IT infrastructure they shipped over to Bangalore that is now smoldering, radioactive slag.

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"I'd like to live just long enough to be there when they cut off your head and stick it on a pike as a warning to the next 10 generations that some favors come with too high of a price." -Vir Cotto Babylon 5
Njca
Posts: 7
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Biotech research is loaded with cheap Chinese scientists. It's sort of the same short-sighted mindset of ostensibly increasing wealth by exporting all manufacturing jobs overseas in order to enable cheaper goods at home.
Bodhi
Posts: 1210
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Canton, GA
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Quote:
PhD @ 40,000/year, 1099 so you get to pay all your own taxes too.

Tell me again why you'd go get that PhD?


I attended my nephew's graduation from LSU about 10 days ago. He got a degree in petroleum engineering and is already working a job up in Pennsylvania.

Out of 600 degrees handed out, around 25% were doctorates. As each doctorate was awarded, a brief synopsis was read about the new PhD's field of study and immediate plans. Each new PhD was given at least polite applause. One of these doctorates was to a young woman whose field of study escapes me at the moment (sociology?). When the narrator related that she planned to follow up with something along the lines of an in depth study of ethnic diversity it went very quiet with only token applause. Her parents must be so proud to have pissed away a boatload of money to see their daughter become Dr. SJW.
Vernonb
Posts: 2424
Incept: 2009-06-03

East of Sheol
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Interesting... Just got a census form regarding education and the like demanding I fill it out. When I opened it up was from the NSF.

Now it seems as if they are checking up on the damage they hoped to cause asking everything they could about my career.

People with bachelor degrees from before the 90s and experience know more than some of the modern pHds I have encountered.

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"Mass intelligence does not mean intelligent masses."
Tickerguy
Posts: 158547
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@Tdurden -- I don't know. All outside views appear to say that you're right, they are one bad move (or one mis-read move, or one computer error) from crossing arcs in the sky and, given the short travel time, once it starts it's going to a smoking mess in minutes.

I've always considered that region to be the highest risk, simply because they've always hated each other, they've both got 'em, and it only takes one ******* between the two of them to go off the reservation for it to be "Game On." While we ALLEGEDLY (and I presume the Soviets too) have protocols that are SUPPOSED to prevent that possibility the facts remain that on more than one occasion nukes HAVE been transported in THIS nation without proper authorization and paperwork. That's supposed to be impossible BUT IT HAS HAPPENED. That's ONE dickwad event away from someone USING one and when the place you would want to use them is that close the danger is obvious.

But you and I are both applying western views to this. I'm not sure if those are the correct views... but if so, well..... yeah, odds are high the ****storm cometh.

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Winding it down.
Stee_man
Posts: 134
Incept: 2011-12-08


Online
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I've also witnessed the destruction, having worked for a number of name-brand tech companies. However, I also have anecdotes that show Trump is making a difference.

My neighbor, here on a green card, graduated from college and started working a tech job. After less than a year he had to leave because his green card wasn't being renewed. F*** the SJW local school district that hired him in the first place.

I've also heard H1B renewals have been very hard to get. True? I have no idea.

Trump needs to know about this fake study that justifies the lies repeated everywhere about how there is a shortage of local talent. He could reverse much of this with an executive order. Of course, either way in 5 years he will be gone and Americans will be in last place again.
Helluvaengineer
Posts: 94
Incept: 2008-12-04

Atlanta
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To all of you Millennial folks and beyond: Why haven't you started building gallows yet or writing the next edition of a document that begins with "When in the course of human events"?

I was ranting about this on here the other day and on ZH as well. The consunsus seemed to be that I should quit complaining and become a plumber, because they make over $80k/year. So yeah...that's basically why I'm not going on a suicide mission to save everyone.
Tickerguy
Posts: 158547
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@Helluvaengineer -- As I said in a Ticker recently, going postal would have exactly the same effect and WORSE public reaction than if I just walked out in the middle of the street and blew my own brains out.

Why in the middle of the street? My kid wouldn't have to clean up the mess in the house.

Since I'm not suicidal I'm gonna pass on that.

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Winding it down.
Radiosity
Posts: 265
Incept: 2009-03-05

Sunny UK
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Hey Karl, just came across this:

https://www.youtube.com/watch?v=2O-iLk1G.... (Bernie boy on Joe Rogan's channel)

Read the comments and prepare for what little hope you might have left for America go right out the window. So many clueless morons.
Tickerguy
Posts: 158547
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Winding it down.
Helluvaengineer
Posts: 94
Incept: 2008-12-04

Atlanta
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We will see what he's made of, Stee_man, but after this weekend I've pretty much given up all hope regarding Trump.

https://trak.in/tags/business/2019/07/11....

American IT Firms Support This Removal Of Cap

American IT firms such as Microsoft, Facebook, Google etc have supported the bill to remove the cap on H1B and Green Card allocations.

As per them, once the limit is removed, the companies will be able to hire without any discrimination, and without any prejudice.
Jduwaldt
Posts: 750
Incept: 2010-06-10

Orange County, CA
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Reminds me of the fun I observed in the late 80s, when professional engineers who were members of the IEEE started noticing that IEEE Conferences featured talks like How to Successfully Offshore. Caused a bit of a ruckus, to put it politely, but the leaders of the IEEE eventually "won out" (i.e. served management).

Mr. Denninger, I recall Disney Corp being one of your poster boys: forcing people to train their replacement or lose their severance, if I remember correctly.

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Gun Control: because what's the fun of being in the Majority if the Minority are able to defend themselves?
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Tickerguy
Posts: 158547
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@Jduwaldt -- Yep. Those **********s did that right here in Florida. **** them with a chainsaw.

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Winding it down.
Drifter
Posts: 310
Incept: 2016-02-11

Pacific Northwest
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This is making its way into healthcare too. A Filipino acquaintance has an H1B and is working as a physical therapist.

A Libyan acquaintance who was getting a PhD on a student visa is now teaching in the local school district. H1B.

At first it was 'white men need not apply'. Now it's 'Americans need not apply.'
Helluvaengineer
Posts: 94
Incept: 2008-12-04

Atlanta
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OK, now I'm ranting. I'll be honest - the biggest issue with some of these technical industries is the fact that people not only have no concept of what's involved in them, but they don't even care to learn enough to understand the basic scope. Everything is freaking "easy" when you don't understand how it works. When it's "easy", you should pay someone else $15/hr to do it like you might pay someone to cut your lawn.

Case in point: I just got off the phone with a consultant I frequently partner with who is the PM on an ongoing project for a client. My company has been writing code on this thing since April. I can't give any details on what it does or the secret sauce because of an NDA.

Anyway, this sucker has an Angular front end for a couple of admin and user pages, web api, mssql db, hosted on Azure. There's a custom calculation engine for project costing that I wrote that lives in a DLL and is connected to the API. That sucker is 100% covered by unit tests.

Oh, and the client has redesigned it 4 times already. Since April.

So today the PM walks into their offices and gets his ass chewed by a c-level exec because we've been working on it...since April and it's not done yet. They redesigned the thing 10 days ago. So here's the punchline - the exec tells the PM that if he knew it would take this long, he would have hired an high school student to do it.

That's why they would rather hire 9 third world developers instead of someone with 20 years of experience.
Tickerguy
Posts: 158547
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Yep.

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Winding it down.
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