![war of the worlds 2005 martian. hair War Of The Worlds [2005]](http://fc03.deviantart.net/fs71/i/2010/196/8/a/The_Martian_Machines_by_NikeDorchain.jpg "hair War Of The Worlds [2005]")
saileshdude
09-20 12:15 PM
Hi ski_dude,
I also received response to SR for me and my spouse that our cases are under review and allow them 60 days. Did you send an e-mail to TSC after you received the response to SR or before. Also what did you write to them in the e-mail. If you can share that would be great. I am still waiting after becoming current in Sept.
I received a similar response to the 2nd SR. I was told that my case was under additional review and to allow them 60 days. However, my wife's case had been assigned to an officer for review.
Did you send an email to TSC.Ncscfollowup@dhs.gov (for TSC - another email for NSC). I had no clue where my application was when even 2006 cases were getting approved. I am seeing some movement after emailing them.
I also received response to SR for me and my spouse that our cases are under review and allow them 60 days. Did you send an e-mail to TSC after you received the response to SR or before. Also what did you write to them in the e-mail. If you can share that would be great. I am still waiting after becoming current in Sept.
I received a similar response to the 2nd SR. I was told that my case was under additional review and to allow them 60 days. However, my wife's case had been assigned to an officer for review.
Did you send an email to TSC.Ncscfollowup@dhs.gov (for TSC - another email for NSC). I had no clue where my application was when even 2006 cases were getting approved. I am seeing some movement after emailing them.
wallpaper hair War Of The Worlds [2005]
ca_immigrant
12-18 02:59 PM
I have AT&T DSL, the 3 to 6 mbps plan...
Took vonage approximately 35 days back...works great....
my usual speed (tested using speedtest dot net) is around 5 MBPS download.
now the vonage setup (as you all might know) order is
1. DSL modem
2. vonage adaptor
3. your computer or router (I have a wireless router)
for the first 30 days (cancellation period) my internet bandwidth was not affect while using vonage...it used to remain around 4 to 5 mbps...
would drop down to 3 mbps when using VPN ..
but using phone (vonage phone) did not affect...
now the story seems to have changed after the cancellation period.... -:)
when I am connected to vpn (to office network) the speed is 4 to 5 mbps...
When I make a call and test the speed during the call my download speed is 0.09 MBPs...
I have started seeing this behaviour in the last 3 to 4 days....
wondering if that has something to do with the fact that the cancellation period is over -;)
anyways, can folks here share thier experience on how the speed is affected when using the phone...(I use speedtest.net to test my speed)
Also, has anyone tried this order to connect to vonage ? (so vonage adaptor does not get priority and take up the bandwidth ?)
1. DSL modem
2. wireless router
3. vonage adaptor...
BTW...love the local calls to back home.... -;)
Took vonage approximately 35 days back...works great....
my usual speed (tested using speedtest dot net) is around 5 MBPS download.
now the vonage setup (as you all might know) order is
1. DSL modem
2. vonage adaptor
3. your computer or router (I have a wireless router)
for the first 30 days (cancellation period) my internet bandwidth was not affect while using vonage...it used to remain around 4 to 5 mbps...
would drop down to 3 mbps when using VPN ..
but using phone (vonage phone) did not affect...
now the story seems to have changed after the cancellation period.... -:)
when I am connected to vpn (to office network) the speed is 4 to 5 mbps...
When I make a call and test the speed during the call my download speed is 0.09 MBPs...
I have started seeing this behaviour in the last 3 to 4 days....
wondering if that has something to do with the fact that the cancellation period is over -;)
anyways, can folks here share thier experience on how the speed is affected when using the phone...(I use speedtest.net to test my speed)
Also, has anyone tried this order to connect to vonage ? (so vonage adaptor does not get priority and take up the bandwidth ?)
1. DSL modem
2. wireless router
3. vonage adaptor...
BTW...love the local calls to back home.... -;)
gtg506p
01-09 10:17 AM
Sheela Murthy and Greg Siskind might also be good contacts. I think IV is already in good contacts with them?
2011 war of the worlds 2005. of
asethura
08-19 01:25 AM
Hi All, I had a quick question.
My I-485 got approved earlier this week from NSC and I received the approval/welcome letter by USPS.
My online status is at post-decision activity and not at CPO.
Though my welcome notice says that I should receive the card in 3 weeks, I am wondering if I need to be at CPO status before that happens....also I read somewhere they may require another FP before CPO (that was talking more abt transfer cases, but mine has always been at NSC).....but nowhere in my approval notice does it ask for an FP.
I was wondering if I should just sit tight and wait for the physical card or try to find out more information.
Thanks so much.
My I-485 got approved earlier this week from NSC and I received the approval/welcome letter by USPS.
My online status is at post-decision activity and not at CPO.
Though my welcome notice says that I should receive the card in 3 weeks, I am wondering if I need to be at CPO status before that happens....also I read somewhere they may require another FP before CPO (that was talking more abt transfer cases, but mine has always been at NSC).....but nowhere in my approval notice does it ask for an FP.
I was wondering if I should just sit tight and wait for the physical card or try to find out more information.
Thanks so much.
more...
-picture-MOV_fcb8c664_b.jpg "worlds 2005 martian. war")
optimystic
03-26 02:57 PM
I dont know of any link to a particular publication, but I thought it was a common knowledge that the whole point of labor certification process, is for the DOL to monitor that a potential US worker (I thought it meant US Citizen but may be not), is not being displaced by a foreign worker. To be clear here though, the DOL does not prevent an employer from going ahead and sponsoring an H1B and hiring a foreign employee. But DOL is legally directed to reject such labor applications.
Though this is applicable only for H1B hiring and subsequent filing of GC process for such an employee, I am wondering whether there is any loophole in DOL's directives that might provide a cover for employers to enquire whether a propective employee is US Citizens are not.... Especailly in the PERM process don't they have to do active recruiting efforts and gather statiscis that they tried to hire US citizens ..?? How can an employer gather statistics if they didn't ask for work authorization related details....?
May be due to possible loopholes in such laws...they are able to take it a step further and enquiring about the kind of work authorization a candidate possesses!
One can argue that an EAD guy has crossed such DOL directed verifications and legally aquired work permit. But a 'once approved 140' is not a gaurantee...right....it can get an RFE and rejected...Mostly for Employers ability to pay, but isn't it also for malpractice during PERM recruiting efforts...?
My point being, an EAD guy is not 100% cleared of the potential fact that he could be displacing an US citizen. And that puts him under the purview of possible screening by an employer (trying or facading to trying to stick to DOL rules) and being compared to an available US citizen with equal qualifications....does it not? And by virtue of that, gives the employer to ask if a candidate is EAD or not...
May be the policy of 'innocent until proven guilty' applies here and a work permit of an EAD guy to be treated legally as such and be not doubted. But I am digressing....
Though this is applicable only for H1B hiring and subsequent filing of GC process for such an employee, I am wondering whether there is any loophole in DOL's directives that might provide a cover for employers to enquire whether a propective employee is US Citizens are not.... Especailly in the PERM process don't they have to do active recruiting efforts and gather statiscis that they tried to hire US citizens ..?? How can an employer gather statistics if they didn't ask for work authorization related details....?
May be due to possible loopholes in such laws...they are able to take it a step further and enquiring about the kind of work authorization a candidate possesses!
One can argue that an EAD guy has crossed such DOL directed verifications and legally aquired work permit. But a 'once approved 140' is not a gaurantee...right....it can get an RFE and rejected...Mostly for Employers ability to pay, but isn't it also for malpractice during PERM recruiting efforts...?
My point being, an EAD guy is not 100% cleared of the potential fact that he could be displacing an US citizen. And that puts him under the purview of possible screening by an employer (trying or facading to trying to stick to DOL rules) and being compared to an available US citizen with equal qualifications....does it not? And by virtue of that, gives the employer to ask if a candidate is EAD or not...
May be the policy of 'innocent until proven guilty' applies here and a work permit of an EAD guy to be treated legally as such and be not doubted. But I am digressing....
![war of the worlds 2005 martian. 2011 War Of The Worlds [2005]](http://img821.imageshack.us/img821/1632/wotw3.png "2011 War Of The Worlds [2005]")
nk2006
09-10 09:54 AM
We should all feel proud that many co-sponsors are a result of efforts of IV and its members.When members ask proof of success, this is one of them.
Well done IV for the work so far - but we have to continue this push. Any idea on which other members we should call.
Note: I spoke with a few members to encourage them to call, there seems some confusion in their understanding of which congressmen we should call first. Calling the current co-sponsors may not be necessary but calling other members might still result in adding more co-sponsors (if we are able to convince them).
Friends, October bulletin is out and we are again seeing the retrogession. So forget about the talk that all dates will become current - it wont happen unless there is a change in law and past visa numbers are recaptured. This bill is our biggest and only hope until for atleast another year. Lets do our part and hope for the best (believe me - all it takes is less than an hour of your time).
Well done IV for the work so far - but we have to continue this push. Any idea on which other members we should call.
Note: I spoke with a few members to encourage them to call, there seems some confusion in their understanding of which congressmen we should call first. Calling the current co-sponsors may not be necessary but calling other members might still result in adding more co-sponsors (if we are able to convince them).
Friends, October bulletin is out and we are again seeing the retrogession. So forget about the talk that all dates will become current - it wont happen unless there is a change in law and past visa numbers are recaptured. This bill is our biggest and only hope until for atleast another year. Lets do our part and hope for the best (believe me - all it takes is less than an hour of your time).
more...
pappu
01-07 09:07 PM
Please find your local congressman at http://www.house.gov
The Honorable Senator/Representative XXX
<< address>>
Re: Administrative fixes to alleviate issues faced by highly-skilled immigrants in <<state>>
Respected Senator/Representative <<lastname>>,
I am a constituent and an employment-based highly-skilled immigrant. << fill in your bio in 2-3 sentences max>>. I'm also a member of Immigration Voice, a non-profit grassroots organization working to fix the issues faced by highly-skilled immigrants like myself. Currently a million employment immigrants and their families are stuck in a backlog due to insufficient numbers and USCIS processing delays. It may be 6-12 years before these immigrants will be able to receive their green cards, if the immigration system isn't reformed.
Though Immigration Voice is interested in seeing legislative fixes passed by US Congress, it may take a long time for an agreed immigration reform to pass. Considering this fact, Immigration Voice has proposed the following points to President Bush's administration to fix some of the issues administratively. I urge you to support our cause by writing a letter to President Bush, as follows, to implement these administrative fixes without further delay.
"
Respected President Bush,
I urge you to implement the following administrative fixes immediately to help the highly-skilled immigrants waiting their turn in a severely backlogged system.
1) Recapture 218,000 unused visas wasted over the past few years administratively, in line with Congressional intent of providing 140,000 visas annually to our community.
2) Flexibility in the USCIS interpretation of "same and similar" jobs, to allow promotions and job mobility. Current USCIS rule is restrictive and pushes the applicant to the end of the line, if they accept promotions.
3) Allow filing of 'Adjustment of Status Applications', even when visa numbers are not available. This will not create an increase in visas, but will allow a number of immigrants to avail the benefits of changing jobs while waiting for their visa numbers.
4) Increase the period of Employment Authorization Document (work authorization) and Advance Parole (travel permit) to 3 years instead of the current practice of 1 year. This will reduce the burden on USCIS and on immigrants. It will also make travel to an immigrant's home country easier during emergencies.
5) Allow visa revalidation in the US as before. Currently, immigrants have to travel to their home country to renew their visas. If it was performed here in the US, it would be helpful in making it easier to travel back and forth during emergencies.
6) Restart premium processing for I-140 applications. Now that USCIS has cleared the receipting backlog, premium processing should be made available. Without it, many immigrants are unable to extend their stay beyond 6 years, if their labor certification was applied for after the completion of their 5th year of stay in the US.
"
Respectfully,
<<Full Name>>
<<Address>>
<<Phone>>
<<E-mail>>
Web-site : http://www.immigrationvoice.org (http://www.immigrationvoice.org/)
The Honorable Senator/Representative XXX
<< address>>
Re: Administrative fixes to alleviate issues faced by highly-skilled immigrants in <<state>>
Respected Senator/Representative <<lastname>>,
I am a constituent and an employment-based highly-skilled immigrant. << fill in your bio in 2-3 sentences max>>. I'm also a member of Immigration Voice, a non-profit grassroots organization working to fix the issues faced by highly-skilled immigrants like myself. Currently a million employment immigrants and their families are stuck in a backlog due to insufficient numbers and USCIS processing delays. It may be 6-12 years before these immigrants will be able to receive their green cards, if the immigration system isn't reformed.
Though Immigration Voice is interested in seeing legislative fixes passed by US Congress, it may take a long time for an agreed immigration reform to pass. Considering this fact, Immigration Voice has proposed the following points to President Bush's administration to fix some of the issues administratively. I urge you to support our cause by writing a letter to President Bush, as follows, to implement these administrative fixes without further delay.
"
Respected President Bush,
I urge you to implement the following administrative fixes immediately to help the highly-skilled immigrants waiting their turn in a severely backlogged system.
1) Recapture 218,000 unused visas wasted over the past few years administratively, in line with Congressional intent of providing 140,000 visas annually to our community.
2) Flexibility in the USCIS interpretation of "same and similar" jobs, to allow promotions and job mobility. Current USCIS rule is restrictive and pushes the applicant to the end of the line, if they accept promotions.
3) Allow filing of 'Adjustment of Status Applications', even when visa numbers are not available. This will not create an increase in visas, but will allow a number of immigrants to avail the benefits of changing jobs while waiting for their visa numbers.
4) Increase the period of Employment Authorization Document (work authorization) and Advance Parole (travel permit) to 3 years instead of the current practice of 1 year. This will reduce the burden on USCIS and on immigrants. It will also make travel to an immigrant's home country easier during emergencies.
5) Allow visa revalidation in the US as before. Currently, immigrants have to travel to their home country to renew their visas. If it was performed here in the US, it would be helpful in making it easier to travel back and forth during emergencies.
6) Restart premium processing for I-140 applications. Now that USCIS has cleared the receipting backlog, premium processing should be made available. Without it, many immigrants are unable to extend their stay beyond 6 years, if their labor certification was applied for after the completion of their 5th year of stay in the US.
"
Respectfully,
<<Full Name>>
<<Address>>
<<Phone>>
<<E-mail>>
Web-site : http://www.immigrationvoice.org (http://www.immigrationvoice.org/)
2010 images War of the Worlds
another one
09-29 07:20 PM
To me collateral damage to GC is more acceptable than the same to human life.
On economic front, the only person on either side who truly supports free market policies is Ron Paul. He is the one of the few Republicans who actually thinks about balancing the budget. Tax cuts are ok, only if you back them up with reduced spending, without increasing the national levergage. National debt is now at 100% of GDP (in the company of zimbabwe and jamiaca) , 20-30% of future income tax will go towards paying of the interest on Govt tax. It will definitely crowd out future private investments. Look at the history of national debt, and correlate them to the administrations.
"Supply side" tax reductions of Reagan admin were good but even he increased the debt during his tenure. Leveraging is good for private cos (to certain limit, as we can say from recent developments), but not for Govts, as they do not really do much economically productive activity. Keynesian economists have all been hiding in their basement in the last two weeks.
It is just my belief that Repubs dumb down everything.. from education to how to sell a war or economic plan to people.
On economic front, the only person on either side who truly supports free market policies is Ron Paul. He is the one of the few Republicans who actually thinks about balancing the budget. Tax cuts are ok, only if you back them up with reduced spending, without increasing the national levergage. National debt is now at 100% of GDP (in the company of zimbabwe and jamiaca) , 20-30% of future income tax will go towards paying of the interest on Govt tax. It will definitely crowd out future private investments. Look at the history of national debt, and correlate them to the administrations.
"Supply side" tax reductions of Reagan admin were good but even he increased the debt during his tenure. Leveraging is good for private cos (to certain limit, as we can say from recent developments), but not for Govts, as they do not really do much economically productive activity. Keynesian economists have all been hiding in their basement in the last two weeks.
It is just my belief that Repubs dumb down everything.. from education to how to sell a war or economic plan to people.
more...
santb1975
01-09 03:22 AM
We have to work diligently on this Action Item
hair war of the worlds 2005 martian
brb2
09-12 09:28 AM
It is not that simple. The soundex algorithm will change the spelling of each name (F, M, L) and do multiple combinations during the name check process. So a Sita can be become Seeta or Satyendra may become Satinder and so on. So don't count your chickens as yet:)
well this is great news there were no hits for my husbands name and only 1 hit for my name! Hopefully we will be ok and not get stuck in name checks then! Thank you for your response!
well this is great news there were no hits for my husbands name and only 1 hit for my name! Hopefully we will be ok and not get stuck in name checks then! Thank you for your response!
more...
gaz
04-01 10:01 AM
Perhaps a little over-generalized.
Non-Donors like me have contributed to advocacy days. You still think we are free loaders?
not to hijack the conversation - but at some point, IV needs to distinguish between a donor, a contributor and a freeloader.
e.g. donors get access to all threads, contributors specific threads for which they have contributed and freeloaders general threads only. i guess that means setting up contributions at the thread level - not sure if thats possible right now.
Non-Donors like me have contributed to advocacy days. You still think we are free loaders?
not to hijack the conversation - but at some point, IV needs to distinguish between a donor, a contributor and a freeloader.
e.g. donors get access to all threads, contributors specific threads for which they have contributed and freeloaders general threads only. i guess that means setting up contributions at the thread level - not sure if thats possible right now.
hot worlds 2005 martian. war
nk2006
11-10 01:50 PM
Please keep writing. As many posters already pointed out - economy is getting worse and changing job may become a necessity to many of us. We cannot afford to jeopardize our green card process - if our old employer withdraws I140. Our only way is to raise and get enough attention to this issue so something is done quickly before it becomes a norm.
(I dont mean to start a ticker here on economy but following events in the recent past speak for themselves. Bankruptcies: Circuit City, LinenNThings, LehmanBrothers. Restructuring/Layoffs: AIG, MerrilLynch, Yahoo, Nortel, Cadence, eBay, Nokia, etc. Official Hiring freeze: Cisco, etc. Unoffical hiring freeze: Google (in many divisions) and a lot of medium sized companies) Look an active ticker at: http://news.cnet.com/tech-layoffs/
(I dont mean to start a ticker here on economy but following events in the recent past speak for themselves. Bankruptcies: Circuit City, LinenNThings, LehmanBrothers. Restructuring/Layoffs: AIG, MerrilLynch, Yahoo, Nortel, Cadence, eBay, Nokia, etc. Official Hiring freeze: Cisco, etc. Unoffical hiring freeze: Google (in many divisions) and a lot of medium sized companies) Look an active ticker at: http://news.cnet.com/tech-layoffs/
more...
house war of the worlds 2005
darslee
07-09 06:37 PM
Well, Not too bad, it has been acknowledged and now will definitely be picked up by the press as the flowers will be forwarded to injured service members at the Walter Reed Army Medical Center and at Bethesda Naval Hospital.
-- AA
http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=f4b3076eb0f93110VgnVCM1000004718190aRCR D&vgnextchannel=1958b0aaa86fa010VgnVCM10000045f3d6a1 RCRD
I agree with you....they have now helped the media campaign :D , ...and in all honesty I would rather the flowers went there than thrown away! :)
-- AA
http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=f4b3076eb0f93110VgnVCM1000004718190aRCR D&vgnextchannel=1958b0aaa86fa010VgnVCM10000045f3d6a1 RCRD
I agree with you....they have now helped the media campaign :D , ...and in all honesty I would rather the flowers went there than thrown away! :)
tattoo 2011 War Of The Worlds [2005]
apb
10-06 05:46 PM
Hi apb..
Good to see that there is some activity going on our cases..i got the response form USCIS saying that "the case is pending at the USCIS office" dose this means they transfered the case to local office? or still at NBC..dose your message says that the your case has been transfered to "local USCIS office" or just "USCIS office"?..
My online status says transferred to USCIS office, BUT the mail I got in response to my lost application inquiry stated LOCAL uscis office and that you will be called for interview whenever they are ready.
Good to see that there is some activity going on our cases..i got the response form USCIS saying that "the case is pending at the USCIS office" dose this means they transfered the case to local office? or still at NBC..dose your message says that the your case has been transfered to "local USCIS office" or just "USCIS office"?..
My online status says transferred to USCIS office, BUT the mail I got in response to my lost application inquiry stated LOCAL uscis office and that you will be called for interview whenever they are ready.
more...
pictures war of the worlds 2005
gsvisu
07-11 07:49 AM
Good job & getting media attention.
Any local Virginia/DC volunteers that can photograph/video at the USCIS center will be great...Love to see more
photographs.
Can someone go to Hospitals where these flowers are directed & publish / send media those photographs ?
My best $30 ever spent !
Any local Virginia/DC volunteers that can photograph/video at the USCIS center will be great...Love to see more
photographs.
Can someone go to Hospitals where these flowers are directed & publish / send media those photographs ?
My best $30 ever spent !
dresses worlds 2005 martian. war
eb_retrogession
02-03 06:39 PM
The Labor Shortage Hoax
By Alan Tonelson
American Economic Alert, January 27, 2006
. . .
It�s clear, then, that most labor shortage claims are simply meant to justify the multinationals� continued resort to the low-wage strategy to greater short-term profits, either through offshoring jobs and production, or through flooding the U.S. labor market with immigrants. But give credit to the outsourcing lobby � it�s not only pressing on, but has added a new twist to their argument: The outsourcers are turning up skilled-labor shortages in China and India, too, according to numerous news reports like the January 4 Wall Street Journal item titled �India�s Talent Pool Drying Up.�
. . .
http://www.americaneconomicalert.org/view_art.asp?Prod_ID=2205
By Alan Tonelson
American Economic Alert, January 27, 2006
. . .
It�s clear, then, that most labor shortage claims are simply meant to justify the multinationals� continued resort to the low-wage strategy to greater short-term profits, either through offshoring jobs and production, or through flooding the U.S. labor market with immigrants. But give credit to the outsourcing lobby � it�s not only pressing on, but has added a new twist to their argument: The outsourcers are turning up skilled-labor shortages in China and India, too, according to numerous news reports like the January 4 Wall Street Journal item titled �India�s Talent Pool Drying Up.�
. . .
http://www.americaneconomicalert.org/view_art.asp?Prod_ID=2205
more...
makeup #39;The War Of The Worlds#
mundada
07-11 11:18 AM
http://www.boston.com/news/nation/washington/articles/2007/07/10/indian_green_card_seekers_in_flowery_us_protest/?rss_id=Boston.com+%2F+News
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qvadis
06-28 11:54 PM
I aske my lawyer to send the document on june 29th so it will reach july -1st or second. what happen if the USCIS recieve the document on july 1st?
I don't think there will be anyone there Saturday or Sunday. FedEx, UPS, and USPS also don't deliver Sundays, and usually not on Saturdays, either.
I don't think there will be anyone there Saturday or Sunday. FedEx, UPS, and USPS also don't deliver Sundays, and usually not on Saturdays, either.
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gc_on_demand
09-24 10:58 AM
There will be only 25 - 20k Spill for 2010. Given that India and CHINA Eb2 can cross mid 2006.
It will take another 2 years for Eb2 to make C and then we can see Spill over to Eb3.
If economy improves and we start seeing labor approval coming Spill be going to less and creating more wait time.
Eb3 needs VISA RECAPTURE badly. Eb2 guys can wait for couple of years to get GC. but still 2-3 years in given economy is too risky. Bottom line is WE need VISA RECAPTURE in order to clean all mess.
It will take another 2 years for Eb2 to make C and then we can see Spill over to Eb3.
If economy improves and we start seeing labor approval coming Spill be going to less and creating more wait time.
Eb3 needs VISA RECAPTURE badly. Eb2 guys can wait for couple of years to get GC. but still 2-3 years in given economy is too risky. Bottom line is WE need VISA RECAPTURE in order to clean all mess.
widad2020
09-20 08:32 PM
I see the same. my pd is may 20.
Did anyone see any Soft LUDs on their 485 or old EADs before their approvals/RFEs?
My PD is June 7 2006, not current. Yesterday, I had a soft LUD on my 485 and my first EAD. These two haven't seen any activity since early 2009, and I'm wondering if this means anything or if I'm reading into this a little too much.
thanks,
Did anyone see any Soft LUDs on their 485 or old EADs before their approvals/RFEs?
My PD is June 7 2006, not current. Yesterday, I had a soft LUD on my 485 and my first EAD. These two haven't seen any activity since early 2009, and I'm wondering if this means anything or if I'm reading into this a little too much.
thanks,
mmanurker
11-25 03:21 PM
Interesting Example of how the bubble bursts!
Here's a very interesting anecdote that describes how an 'asset bubble' builds up and what are its consequences.
Read it even if it confuses you a bit:confused:...things will be clear as you reach the end....
ANECDOTE -
Once there was a little island country. The land of this country was the tiny island itself. The total money in circulation was 2 dollar as there were only two pieces of 1 dollar coins circulating around.
1) There were 3 citizens living on this island country. A owned the land. B and C each owned 1 dollar.
2) B decided to purchase the land from A for 1 dollar. So, A and C now each own 1 dollar while B owned a piece of land that is worth 1 dollar.
The net asset of the country = 3 dollar.
3) C thought that since there is only one piece of land in the country and land is non produce able asset, its value must definitely go up. So, he borrowed 1 dollar from A and together with his own 1 dollar, he bought the land from B for 2 dollar.
A has a loan to C of 1 dollar, so his net asset is 1 dollar.
B sold his land and got 2 dollar, so his net asset is 2 dollar.
C owned the piece of land worth 2 dollar but with his 1 dollar debt to A, his net asset is 1 dollar.
The net asset of the country = 4 dollar.
4) A saw that the land he once owned has risen in value. He regretted selling it. Luckily, he has a 1 dollar loan to C. He then borrowed 2 dollar from B and acquired the land back from C for 3 dollar. The payment is by 2 dollar cash (which he borrowed) and cancellation of the 1 dollar loan to C. As a result, A now owned a piece of land that is worth 3 dollar. But since he owed B 2 dollar, his net asset is 1 dollar.
B loaned 2 dollar to A. So his net asset is 2 dollar.
C now has the 2 coins. His net asset is also 2 dollar.
The net asset of the country = 5 dollar. A bubble is building up.
(5) B saw that the value of land kept rising. He also wanted to own the land. So he bought the land from A for 4 dollar. The payment is by borrowing 2 dollar from C and cancellation of his 2 dollar loan to A. As a result, A has got his debt cleared and he got the 2 coins.. His net asset is 2 dollar.
B owned a piece of land that is worth 4 dollar but since he has a debt of 2 dollar with C, his net Asset is 2 dollar.
C loaned 2 dollar to B, so his net asset is 2 dollar.
The net asset of the country = 6 dollar. Even though, the country has only one piece of land and 2 Dollar in circulation.
(6) Everybody has made money and everybody felt happy and prosperous.
(7) One day an evil wind blowed. An evil thought came to C's mind. 'Hey, what if the land price stop going up, how could B repay my loan. There is only 2 dollar in circulation, I think after all the land that B owns is worth at most 1 dollar only.'
A also thought the same.
(8) Nobody wanted to buy land anymore. In the end, A owns the 2 dollar coins, his net asset is 2 dollar. B owed C 2 dollar and the land he owned which he thought worth 4 dollar is now 1 dollar. His net asset become -1
dollar.
C has a loan of 2 dollar to B. But it is a bad debt. Although his net asset is still 2 dollar, his Heart is palpitating. The net asset of the country = 3 dollar again.
Who has stolen the 3 dollar from the country ? Of course, before the bubble burst B thought his land worth 4 dollar. Actually, right before the collapse, the net asset of the country was 6 dollar in paper. his net asset is still 2 dollar, his heart is palpitating.
The net asset of the country = 3 dollar again.
(9) B had no choice but to declare bankruptcy. C as to relinquish his 2 dollar bad debt to B but in return he acquired the land which is worth 1 dollar now.
A owns the 2 coins, his net asset is 2 dollar. B is bankrupt, his net asset is 0 dollar. ( B lost everything ) C got no choice but end up with a land worth only 1 dollar (C lost one dollar) The net asset of the country = 3 dollar.
************ ****End of the story******* ********* ********* **
There is however a redistribution of wealth.
A is the winner, B is the loser, C is lucky that he is spared.
A few points worth noting -
(1) When a bubble is building up, the debt of individual in a country to one another is also building up.
(2) This story of the island is a close system whereby there is no other country and hence no foreign debt. The worth of the asset can only be calculated using the island's own currency. Hence, there is no net loss.
(3) An over damped system is assumed when the bubble burst, meaning the land's value did not go down to below 1 dollar.
(4) When the bubble burst, the fellow with cash is the winner. The fellows having the land or extending loan to others are the loser. The asset could shrink or in worst case, they go bankrupt.
(5) If there is another citizen D either holding a dollar or another piece of land but refrain to take part in the game. At the end of the day, he will neither win nor lose. But he will see the value of his money or land go up and down like a see saw.
(6) When the bubble was in the growing phase, everybody made money.
(7) If you are smart and know that you are living in a growing bubble, it is worthwhile to borrow money (like A ) and take part in the game. But you must know when you should change everything back to cash.
(8) Instead of land, the above applies to stocks as well.
(9) The actual worth of land or stocks depend largely on supply and demand
Here's a very interesting anecdote that describes how an 'asset bubble' builds up and what are its consequences.
Read it even if it confuses you a bit:confused:...things will be clear as you reach the end....
ANECDOTE -
Once there was a little island country. The land of this country was the tiny island itself. The total money in circulation was 2 dollar as there were only two pieces of 1 dollar coins circulating around.
1) There were 3 citizens living on this island country. A owned the land. B and C each owned 1 dollar.
2) B decided to purchase the land from A for 1 dollar. So, A and C now each own 1 dollar while B owned a piece of land that is worth 1 dollar.
The net asset of the country = 3 dollar.
3) C thought that since there is only one piece of land in the country and land is non produce able asset, its value must definitely go up. So, he borrowed 1 dollar from A and together with his own 1 dollar, he bought the land from B for 2 dollar.
A has a loan to C of 1 dollar, so his net asset is 1 dollar.
B sold his land and got 2 dollar, so his net asset is 2 dollar.
C owned the piece of land worth 2 dollar but with his 1 dollar debt to A, his net asset is 1 dollar.
The net asset of the country = 4 dollar.
4) A saw that the land he once owned has risen in value. He regretted selling it. Luckily, he has a 1 dollar loan to C. He then borrowed 2 dollar from B and acquired the land back from C for 3 dollar. The payment is by 2 dollar cash (which he borrowed) and cancellation of the 1 dollar loan to C. As a result, A now owned a piece of land that is worth 3 dollar. But since he owed B 2 dollar, his net asset is 1 dollar.
B loaned 2 dollar to A. So his net asset is 2 dollar.
C now has the 2 coins. His net asset is also 2 dollar.
The net asset of the country = 5 dollar. A bubble is building up.
(5) B saw that the value of land kept rising. He also wanted to own the land. So he bought the land from A for 4 dollar. The payment is by borrowing 2 dollar from C and cancellation of his 2 dollar loan to A. As a result, A has got his debt cleared and he got the 2 coins.. His net asset is 2 dollar.
B owned a piece of land that is worth 4 dollar but since he has a debt of 2 dollar with C, his net Asset is 2 dollar.
C loaned 2 dollar to B, so his net asset is 2 dollar.
The net asset of the country = 6 dollar. Even though, the country has only one piece of land and 2 Dollar in circulation.
(6) Everybody has made money and everybody felt happy and prosperous.
(7) One day an evil wind blowed. An evil thought came to C's mind. 'Hey, what if the land price stop going up, how could B repay my loan. There is only 2 dollar in circulation, I think after all the land that B owns is worth at most 1 dollar only.'
A also thought the same.
(8) Nobody wanted to buy land anymore. In the end, A owns the 2 dollar coins, his net asset is 2 dollar. B owed C 2 dollar and the land he owned which he thought worth 4 dollar is now 1 dollar. His net asset become -1
dollar.
C has a loan of 2 dollar to B. But it is a bad debt. Although his net asset is still 2 dollar, his Heart is palpitating. The net asset of the country = 3 dollar again.
Who has stolen the 3 dollar from the country ? Of course, before the bubble burst B thought his land worth 4 dollar. Actually, right before the collapse, the net asset of the country was 6 dollar in paper. his net asset is still 2 dollar, his heart is palpitating.
The net asset of the country = 3 dollar again.
(9) B had no choice but to declare bankruptcy. C as to relinquish his 2 dollar bad debt to B but in return he acquired the land which is worth 1 dollar now.
A owns the 2 coins, his net asset is 2 dollar. B is bankrupt, his net asset is 0 dollar. ( B lost everything ) C got no choice but end up with a land worth only 1 dollar (C lost one dollar) The net asset of the country = 3 dollar.
************ ****End of the story******* ********* ********* **
There is however a redistribution of wealth.
A is the winner, B is the loser, C is lucky that he is spared.
A few points worth noting -
(1) When a bubble is building up, the debt of individual in a country to one another is also building up.
(2) This story of the island is a close system whereby there is no other country and hence no foreign debt. The worth of the asset can only be calculated using the island's own currency. Hence, there is no net loss.
(3) An over damped system is assumed when the bubble burst, meaning the land's value did not go down to below 1 dollar.
(4) When the bubble burst, the fellow with cash is the winner. The fellows having the land or extending loan to others are the loser. The asset could shrink or in worst case, they go bankrupt.
(5) If there is another citizen D either holding a dollar or another piece of land but refrain to take part in the game. At the end of the day, he will neither win nor lose. But he will see the value of his money or land go up and down like a see saw.
(6) When the bubble was in the growing phase, everybody made money.
(7) If you are smart and know that you are living in a growing bubble, it is worthwhile to borrow money (like A ) and take part in the game. But you must know when you should change everything back to cash.
(8) Instead of land, the above applies to stocks as well.
(9) The actual worth of land or stocks depend largely on supply and demand
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