Happy Post Pi Day

While the nerds of the world celebrated Pi Day, a few interesting things leaked out from the world of economics. In an upside down world, the House is considering increasing the number of H1-B Visas. This would be fine thing to do in a time when say, the economy is growing and unemployment is not a major fear driving down the market. Instead, this measure, if passed, will increase the number of "speciality" visas for people with IT and research experience. If you wonder why some major corporations' IT departments resemble a Bollywood premiere, think H1-B.

In better economic times we here at the Invisible Boot would support such a measure, but like the Croesian spending from the Congress, and the Polyanna economics of the Fed, such a measure finds itself in the wrong place at the wrong time. Instead, the massively bloated research budgets at universities and in the public sector should be training domestic help while it is becoming more readily available, instead of substituting cheaper foreign labor at the expense of equally qualified American labor.