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.
It does seem like the country is moving in a direction that we were highly successful before. Industrial Revolution! There is a heightened awareness of what "Buy American" really means. Of course this is still met with stiff competition when it comes to Toyota & Honda. I think they have master the small compact car and giving the full size truck market a run for it's money. Ford has continued to show they are in it for the long run and have smart management.ReplyDelete
Obama surrounded himself with intelligent people that specialized in their field. His plan to get the economy on track is working, but not fast enough for his critics. These are people who are super wealthy and not affected by the recession.
As we know, all of the things that have happened are of cyclical nature and starting uptrend. Financial gurus are set to met a fortune when the country is financially healthy. I just hope I have made enough smart moves financially to reap some of those gains.
Good point! Thanks for the comment. I hope I've made the same moves as well!ReplyDelete