Thursday, October 9, 2008

I got NOS

Important Presidential Election

A very important Presidential election is less than a month away. This week has subsequently seen the Stock Market head off on a continued downward spiral. Given these events I tuned into the Presidential Debate on Tuesday night hoping to possibly see the candidates spout off some new plan adjustments to work with recent changes. However, it seems, that all the words that get spoken these days come from the same rhetoric that was written months ago. Both candidates need to sit down and really reevaluate what their policies mean for the world economy. Sadly though, I don't think the general public would understand it if they did reinvent themselves and it would likely give their advisers heart attacks. I think the world will have to wait out for a real plan until next year.

Mainly my concern is that Barack Obama keeps spouting off his same tax plan. While I could write a book about what further damage Obama's policies could mean for the economy, I don't have to. My father, and more recently his business partner, already took care of that. My father's views can be found in his academic works. To sum it up though, I found a good article from the Wall Street Journal that went up yesterday. Creating big tax increases for the top earners in this country will stifle the very investment needed to turn around the economy. With the government shoving money at failing company after company big investors are needed to keep fueling the market. The government will then get returns on their investments to keep this country running. That will promote growth, new businesses, more job, etc. More jobs then means more tax income for states and the country. Taking more taxes from the top end will only dampen investments in American business, discourage upward movement, and send tax revenue decreasing due to increased job losses. Somehow though, I don't think Obama will let go of his socialist leaning. All the signs I see around LA for Obama say hope, but with him, I honestly don't see it.

Wednesday, October 1, 2008

My dad's business partner wrote a book

My father's business partner, David Smick, has written a book about a bit of their adventures in economic advising on an international front. The publishers had impeccable timing on the book's release. I am over halfway through now and my only complaint is that I wish Dave had elaborated a bit more on the economics he discussed, through supporting examples of bad policy decisions, etc. However, that would have made it a massive read that, most likely, would have put me to sleep.
Find it on here: The World is Curved