The real problem is that these CIOs and other mgt types can't see beyond their income statements, because their stockholders can't see beyond their dividend statements.
The lower level of disposable income here in the states - and yes, I think GWB will pay for that at the polls* - has to impact domestic sales. This in turn will have a profound effect on the almighty dividend statements, and the crafty CIOs will pay as well.
In the meantime, when and if IT investment returns, and there are no developers that trust the industry not to hose them again, I think the answer will again be sought with H1B and L1 visa sponsorships. Because these people are sponsored for the most part, it's hard for them to change jobs, and because they generally work for less money, I call this "neo-indentured servitude."
I can't compete with it, can't afford to. So I'm looking to change my career yet again, but I want to find something they can't outsource, whatever the hell that turns out to be.
*Not that I want him to; I don't want a liberal democRat in the White House.
They will comfortably retire.
The cost, quality, value and process advantages are well proven.
These aren't proven at all, but knuckleheads will accept this statement as fact.
My shop is finding that rework on this stuff is VERY heavy, but management sees only payroll "savings". Meanwhile the American development staff is doing heavy OT fixing the crap.