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February 25, 2009

Comments

Fred

Mr. Obama has 28 helicopters and 2 Boeing 747 jets that costs a total of 20 billion dollars or more. Is he wasteful as the US president? Yet, he is only getting 400k dollars annual salary. The tough talk is for political reason. The key point of his speech is his vision on short term economic stimulus and long term fiscal responsibility. Picking part of his speech is not very productive.

Yes, Americans are consuming much more natural resources per person. However, that is the precise reason why the world economy is booming in the last 2 decades. One of the reasons for this economic recession is the consumer spending is down in the US. The US has a GDP of 14 trillion dollars where the consumer spending is 70%. A 5% drop in spending means the 490 billion fewer consumption, i.e. less imports from China, Taiwan, Japan and Korea. Do you want American to stop spending? Let's try 10% drop in consumer spending and 1 trillion will be off the table and going to saving and repay debt. China will be in recession (negative GDP growth) if that ever happen let alone Taiwan and Japan.

Tze-Chien Chu

Yes, it is not prodcutive to say Obama . But it is also not productive Obama say that.
It is good if American learn not to spend too much and wast energy.
Living qaulity is not define by GDP that is the lesson of 2008 Great Depression.

Fred

Living quality and standard is never defined by GDP. GDP is just a measure of consumption and production. It is the balance sheet of a country. For example, the company with highest revenue in the world is WalMart. However, the people work for WalMart do not think it is the best place to work. The highest per capita GDP is Norway where people live in a relatively frugal and conservative way. They also have a pretty high suicide rate. So there is no perfect country.

The 2007-2008 recession has not been classified as a depression yet. I think it is coming though as 2009 looks much darker than 2008. I am just pointing out the fact that there is a production and cosumption in the global economy. If the consumer does not consume, there will be excess capacity and people in the producing country will be out of work. There could be turmoil is society or even wars.

Obama may not be successful in his first term but he signal the change in the direction of this country (US) that I think is good for the long term (20 or 30 years time horizon). He is smarter than most of his critics. What he said in the congressional speech is just a show as all of the state of the union speeches that I saw over the years. The real showdown is in the budget fight in the coming months. There is at least a credible opposition (the GOP is have over 40% of the seat) so the system is functionally unlike the disfunctional goverment in Taiwan where there is little check and balance.

Tze-Chien Chu

It is not easy to determind what is a good life or not. Because of culture difference. What I think about Obama's Stimulus plan is "It has to a very BIG one" Because its rivote is what you say "People lost confidence and don't want to consume" It is a small decision for 1 peoson. But if a lot of people lost job and think that way. It is a very string negative power.
I saw a video on Discovery Channel. They fold 2 telepone book page-by-page So two book combine together. In the end they use 2 tank to seperate the phone book. It is a small fraction that link the 2 book. But too many page togehter will create a lot of power. That is what I think. It need a lot of $$. And it create a lot of side-effect.(there is no free lunch).

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