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Re: EB-5 article
- Thread starter HowieT2
- Start date
BenedictGomez
Well-known member
Good. Hopefully the recent national discussion regarding immigration policy will kill this loathsome government-fueled boondoggle.
ss20
Well-known member
As long as ski resorts are able to get money from it I'm happy. The squinty-eyed don't bother me.
Explain how this a boondoggle. You do realize it doesnt cost the government money?
I understand the criticism that the program doesnt create the jobs it claims and some may think it unfair to allow wealthy foreigners to "buy" a visa. But its only a boondoggle to the foreigners, and they are more than happy to get their visa, so who cares?
Harvey
Well-known member
Interesting word for it.
BenedictGomez
Well-known member
You already explained part of how it's a boondoggle, right after asking "how" it's a boondoggle. For much more of an answer, please see the Jay Peak thread where I've written extensively on this, and predicted the "shenanigans" that are now taking place long before there was ever a hint of it. Also, re: government, physical money isn't the only asset being peddled here from that perspective. Far from it.
luvinjaycloud
Member
- Joined
- Feb 11, 2008
- Messages
- 41
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- 6
don't even bother reading that other thread. there is no substance or facts that the H8ters bring to the table. They just seem to want Jay peak to lose yet many of them still enjoy the great ski mountain that it is.
You are right in that the program works, and now that it is getting overregulated will probably phase out. It's too bad because it has brought revenue and jobs to the NEK that NEVER would have arrived had there been no EB-5. (that is fact) As for the investors, i am sure most of them are more sophisticated than those that opine here and they read the fine print and knew what they were getting going into this; most importantly a durable VISA for their family and path to citizenship.
VTKilarney
Well-known member
Somebody has drank the EB-5 Kool-Aid.
.
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BenedictGomez
Well-known member
Pay no attention to demonizers of glorious EB-5 applicant Jay Peak Resort. They are Great Satan.
It quite normal get near half Billion dollars with no accounting of finance. Everything okay. SEC merely tool of Great Satan.
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BenedictGomez
Well-known member
On a serious note though, this part below almost made me spit-out my Miller Lite onto the keyboard.
LOL. Great stuff! Please write more of this material.
Bernie Madoff was one of the best investors of the 20th century, until bastards started "over-regulating" him.
+1. The recent oversight is needed since there are cases of abuse...not with Jay (that we know of).
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VTKilarney
Well-known member
Re: EB-5 article
That's a very myopic way to look at things. Go back and read the comments about the best way to use money to generate economic growth. Hint: EB-5 doesn't achieve this end well at all. You should also understand that the type of job matters - not just the creation of a job. A part time chambermaid who is subject to seasonal layoffs is not very gainfully employed.
That's a very myopic way to look at things. Go back and read the comments about the best way to use money to generate economic growth. Hint: EB-5 doesn't achieve this end well at all. You should also understand that the type of job matters - not just the creation of a job. A part time chambermaid who is subject to seasonal layoffs is not very gainfully employed.
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im not arguing that it is, only that it's not costing us anything. frankly attracting tens of millions of dollars in foreign capital is a good thing, whether it's the most efficient use of same, is of no moment to me. Would we prefer that money was creating shitty jobs in China instead of here? Of course not. I think we'd all rather see that part time chambairmaid position in vt than in Beijing. And that's putting aside the construction design engineering jobs generated by the construction, albeit temporary. It's better than 'nothing especially when it's not costing us anything.
it is to me. Seems the criticism of the program should really be directed at the individual projects and not at the program itself. These projects are investments. Some will be successful and others won't. Some will provide a good financial return for their investors and others won't. But getting foreign capital to fund job creating projects putting Americans to work is a worthwhile endeavor regardless of the merits of the individual projects.
The problem is that locals aren't working as chambermaids or lifties. Instead they have to bring in foreign workers to do these jobs. Yes, there are a few local professional jobs maintained, but I think that resorts aren't really creating well-paying jobs NNE needs.
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Agreed. But the criticism is two-fold. For some projects there has been little or no oversight from regulators leading to lots of questions and concern about fraud. Vermont is (slowly) waking up to this issue. Second is the immigration issue that some don't like. In theory it is a good idea.
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