Week of Change

I am glad this election is over. I am extremely tired of the pessimistic attitude that this country has had for the past few years. No matter who your elected leader is, childish name calling is low. I can understand arguments backed up by substantial factual evidence, but the personal attacks have been infantile and demeaning. I was no fan of the Clinton regime, but I respected the man for his position. I have a lot of respect for Barack Obama as well, and I know that his powerful ability with words, along with his physical appearance, gave people a sense of new direction. However, no matter what the nature of the aura surrounding him, I never warmed up to any of the words coming out of his mouth. Working as an engineer at companies of very different sizes I have really come to understand that economics are at the center of EVERYTHING. For that reason I have failed to see how Obama's promises could lead to any sort of economic stabilization, much less growth. I currently don't see support for competitive world markets in his agenda. I am curious as to what a revised plan will look like from him and his chosen team, but with most of the names currently being thrown around, I think I might just be sitting back and holding on for a bumpy ride.

With the events of the past two years of campaigning I have at least been inspired. I am now driven to become even more active in my own community, especially since now I am a home owning and property tax paying individual. I also want to advance my education to enhance my engineering degree. I have been considering a masters in economics, but I think my current position in life is more conducive to getting an MBA. I feel that I have responsibilities later in life where I will need that education. I owe it to my parents to show that respect for their life's hard work.

Unfortunately all the uncertainty of this week is not yet over for me. Tomorrow morning the CEO of my employer is addressing the workforce with what will most likely be historically horrendous losses along with "important changes." There are all sorts of rumors flying around. I guess I will find out in the morning and hopefully GM can pull through... although there will most likely be enormous casualties.

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.

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 Amazon.com here: The World is Curved

It's Cold in Virginia

I flew into Virginia to visit the family for the Holidays. There is no snow but it is chilly. My dad had hoped to get me from the airport, but he had to meet with Ben Bernake. I know the country's economics are more dire than rescuing me from Dulles Airport.