US IT jobs going overseas creating 'IT Rust Belt'.

[numa at thenuma.com]

Some would argue that the great depression was caused, and worsened by the
federal reserve policies that existed at that time.  At that time, the Fed
did not let inflationary concerns control economic policy.

What's interesting is that even with VERY VERY low interest rates,
inflation is NOT running rampant, though I think it is underestimated, it
is not out-of-control as a 3.5% prime rate would have indicated.  Which
means, that money right now IS CHEAP, and money is being created (loan,
actually multiplied).  Therefore, the economy is continueing to expand. 
My thought is, is that the economy is and especially tech is still trying
to fill the shoes left by the dot-com bubble.   Remember TRILLIONS of
dollars were just vaporized almost overnight.  That trillions, in large
part, were savings.  It takes time to recover from such a situation.

Notice in this post, the "democrat, vs, republican" crap never came out,
WHY?  Because the president is a piss-ant compared to the power weilded by
Allen Greenspan.

just my $.02.

Kris

> Joke?  Republican economic policies are a joke if you study
> history.
>
> I need to clarify one thing below.  The "similar economic
> policies" are Bush's economic policies: laissez faire
> capitalism, tax breaks for the rich, vast deregulation are
> all policies that were foisted on the public just prior to
> the Great Depression.  If things continue we may have
> another Great Depression.  Some economic indicators of today
> are very similar to those around the 1930's.
>
> Aaron wrote:
>
>  >Um...  I must have missed the punch line... This is a
> joke, right?
>  >
>  >Aaron
>  >
>  >
>  >
>  >
>  >
>  >>One more interesting fact:  The Great Depression was
> preceded by four
>  >>republican presidents who exercised "similar economic
> policies."  A
>  >>democratic president brought us out.  Now both parties
> are more similar,
>  >>but still different enough that we would be far far
> better off if Gore
>  >>was president.
>  >>
>  >>
>  >
>  >
>  >
>  >
>  >
>
>
>
>
>