1. The economy was tubing before George JR even was elected, Presidents have nothing to do with the economy. 2. The boom of the 90s was in fact 90% smoke and mirrors. Absolutely false and ridiculous statement.
A very select few made millions off the scam (and it went past the point of being a business model, to the point of being turned into a scam similar to pyramid scams). Past "business model?" Even more ridoculous and unsupported.
3. The IT field was already dead and flooded with H1bs by this time. What do "dead" and "flooded" have to do with each other?
Also, IT is far from dead, contrary to the perception of the author.
IT Companies had already pushed as much of their capabilities offshore as fast as they could by July of 2000. AS evidenced by what?
The stage was more than set for the fall of the IT industry. Yeh, right: the over-investment into telecom has nothing to do with that.
4. A Congressman best summed up what happened in the 90s during the Global Crossing THis and Enron have something to do with fraud. They have as much common with the functioning of an economy as bank robbery.
And the true stats on the negative imacts of H1B immigration on the economy will probably never be revealed in any "official" reports.