New Financial Regulations in the US

Obama has done it again. Sweeping legislation reform. Trying to get a handle on the out of control bankers. It seems a lot like the health insurance business. It wasn’t what the most liberal people wanted, but at least it’s a start. Banking stocks went up because it was perceived as too soft. Now the biggest thing Obama needs to do is to get some jobs created.

I think it’s a big deal and will help the Democrats in the next election. Especially if the economy keeps getting better. GM is in the black again and ready to go public with an IPO. An economy run on practicle economic theory instead of empty headed ideology.

Glad you’re excited, Doc. Personally I’m happy Scotty beamed me to Taiwan where it was recently decided to reduce the corporate tax rate from 25% to 17% because the idea of sucking resources out of the private economy and giving it to the government to “create jobs” is largely regarded as an alien concept.

Well whatever people think of Obama, you have to respect the fact he’s already got two difficult pieces of legislation passed in his first term. That is oustanding work compared to his predecssors. His calm and sure approach while all hell breaking loose around him and the constant media and partisan attacks, yet he just keeps going forward and getting the job done. History may list him as one of the greatest US Presidents ever if he doesn’t mess up on the way.

You are also right to mention jobs. Jobs are absolutely crucial to America turning itself around. Whatever way that can happen should be pursued. If that means tariffs on imports to push job creation so be it. I don’t see any other way but by forcing/encouraging American companies to invest in manufacturing in America. This is the key. Well there is always bleating and moaning but how come American companies had average 35% profit so far this. This is due to the stimulus program in America that is now running out. Without jobs there won’t be profits for American companies, at least not from the American part of their business. Jobs, jobs, jobs.

Many foreign posters like the one above don’t realise industry in Taiwan is fully supported by the government here too. How do you think they have such a low currency exchange rate, low interest rate here. How come they can establish free trade zones and get massive government grants for investments and factory setups.

Seriously? You still believe in that voodoo?

Too bad serious economists in Taiwan think it will have no effect on stimulating the economy but will be a further drain on the treasury.

Seriously? You still believe in that voodoo?

Too bad serious economists in Taiwan think it will have no effect on stimulating the economy but will be a further drain on the treasury.[/quote]
That doesn’t matter, economic theory states that reducing the corporate tax rate will stimulate business growth and jobs, so that’s what’s gonna happen. And if it doesn’t, it’s because it wasn’t reduced enough. It’s called the “I’m gonna pee on your head until you drown in it or rise up and smack me down” theory. No wait, it’s called the trickle down theory. Those “serious economists” are commies and don’t know anything about basic economics, because that’s not how markets work.