September 15, 2009

Just 2 quick thoughts

  • President Obama wants more regulation of the banking industry and aims to prevent companies from ever becoming "too big to fail" and causing another meltdown of the economy.  After supplying the banks with taxpayer funded bailouts - the Obama administration wants to limit the "size" or assets of these banks to keep another meltdown from happening again.  This may backfire given that now, after the bailouts, banks have become even larger.  For instance, Bank of America acquired the assets of Merrill Lynch and Countrywide financial; Wells Fargo acquired Wachovia and Century Bank; JPMorgan acquired Washington Mutual; and the list currently goes on....

  • On another note, I think the United States is reverting back to the times of the past...this may be actually good.  Ever notice that the term "Buy America" is being thrown around lately?  Or that there are more federal grants available for students that decide to pursue math, technology, or engineering majors?  It seems as if the U.S. is becoming again more of an industrial power - where we begin to produce more and consume less.  From a political standpoint - consider the recent tariffs the U.S. has placed on imports (i.e., the tariffs on Chinese manufactured tires).  Consider the "cash for clunkers" campaign and domestic deals on Ford, Chevy, and Chrysler vehicles.  I've also noticed a lot of highways and U.S. infrastructure jobs being created and signs on my way to work stating "This project funded by the American Recovery and Reinvestment Act".  This will put a lot of people back to work and keep America going strong - as China changes its export based economy to more of a consumer based one.