obama economy

obama economy

Obama: Economy Has Bottomed

Recently in the news we have heard US President Barack Obama and Canada’s Prime Minister Stephen Harper aired their optimistic views on the current economy. The economic melt down process reached its bottom. and there are already signs of positive recovery in the economy. I am totally agreeable on what they try to do but not their view of a speedy economic recovery. In their respective positions, they are doing what they are supposed to do. That is to boost the general consumers’ confidence.

It is just wishful thinking that the economy reached its bottom. Let us look into the real estates in North America, Europe, Asia and the Far East. The market is beset not just by the credit crisis but also the lack of confidence brought about by the massive job cuts. The American auto giants GM, Ford and Chrysler are deep in their money crunch and sales slump. If these giants were forced out of business, the rippling effects will be enhanced and felt all over the places in this global village. In the news people can see huge price cut for Chrysler cars and trucks by the car dealers … as much as 40%. Carmakers are cutting down their dealers by 1000s. The automakers have no choice but to downsize their workforce and expenses to meet the bailout requirement of the government.

These days, job cuts have already triggered off into different industries and businesses. People ’s working wages are reduced by either cutting the rate or working hours. Unfortunately, it may develop into trend that most business owner follow suit. Even big companies with profits join the wagon to cut jobs and work hours. All these would dampen the consumers confidence contradicting the effort of Barack Obama and Stephen Harper who try to revive the economic engine with their bailout packages. Co-ordination amongst businesses and government is of paramount importance. Hopefully, the governemnt will do more co-ordination to make the recovery plan working effectively and efficiently.

The recent financial melt down is the residual of years and years of greediness, complacency, mismanagement and lack of long term vision amongst the top executives. The short sighted leaders lead their companies into this financial crisis. The people working on the floor are the victims of the turmoil brought about by these leaders blinded by their greediness and complacency.

The bear market is here to stay with adjustments. When people regain their confidence upon abundance supply of jobs, they will spend more money. Businesses of different sectors will then start booming again and speed up the economic engine. Currently people are in the shadow of job cuts and wage reduction, spend money is low in their priority list.

Ask ourselves the questions:

* Will GM, Ford and Chrysler survive this Financial Crisis?
* What if they cannot?
* What will be the damage as the result?

I am not sure what will happen in the next 12 months? But I am very sure it is a time of great changes.

About the Author

David Au is a baby boomer freelance writer and a seasoned early retiree providing valuable insight and advice to those looking to start a home based business.

For more great tips on How to Start a Blog visit http://millionbabyboomers.com

Why Does Obama Still Maintain A High 92% Job Approval Rating From Blacks When The Economy Is In The Toilet?

A whopping 92% of Blacks think Obama is doing a great job of running the economy even though the national unemployment rate is almost 10%. Talk about unrational blind loyalty that the Black community has for Obama. He can do no wrong in their eyes. It just proves that for most Blacks, race definitely trumps the economy.

Obama’s approval rating is nowhere near that high among the other races in this country.

Because they still believe he is some kind of second christ or something. Also, hes goinz to payz their rents and foodz. Did you hear the newest one out about “obama money” in Detroit? The black ladies are so happy, and so stupid, but anyway, that they goin to get some “obama money” to pay their bills. The ladies are so stupid they can’t even figure where the money came from, so they say it came from his “stash”. LOL

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