E = P2: I know this is simplified and approximate, but even this simplification is as Nobel Price winner Krugman put it beyond the intellectual flexibility of Congress, I would have called it capacity rather than flexibility.
--- Enough of the whining, lets come up with a solution and your contribution is needed. Before I go there in my Second Opinion, let me put you in the proper mind set.
--- The Supreme Court gave the finger to big tobacco by rejecting their argument that state law is pre-empted by federal law. Looks like big tobacco didnt pay enough to Sensenbrenner.
Notwithstanding, I urge you guys to read the news. If you do you will find reports that smoking causes cancer of your ovaries.
Now, if you allow me, let me give you my second opinion to the issue of economy.
--- E = P2 teaches us a number of things, FIRST: your purchase of a product or service triggers the purchase power of the next individual and so on down the chain. Next, the formula is global. Your purchase of a foreign product transfers purchase power at least in part to a foreign nation. Think of foreign car makers operating in the U.S. that transfer their profits to their foreign parent. --- Any lay-off diminishes the purchasing power and is therefore a no-no in a recession. I said that before. --- Next: the implementation of remedies to a recession is time-sensitive. The longer we wait, the worse it gets. Paul Krugman, the 2008 Nobel Price Winner has accused the German Government of boneheadedness because of its inaction. In other words, Krugman agrees with me: time is of the essence.
What applies to Europe applies to the United States. The addiction of the Hoover/Shelby crowd that is to follow Herbert Hoovers failed do nothing approach will have severe consequences in 2009.
--- There is one item, though, that Barack Obama needs to address not in 2009 but NOW: Come up with a clearly defined program. Three names and no program is not enough. He must come up with an Ideology the world can adopt as their own and follow.
Here are some ideas about a recovery program: A: The infrastructure idea seems ok to me but requires more. B: Change of the Patent Law, declaring a patent invalid if it is used to restrain the trade by a patent troll, f.e. Chevron, is imperative. C : Bridge-Loans to U.S. car makers for the purpose of retooling to convert to electrified cars is next. Retooling is not that expensive as I have shown earlier. And no, Hybrid Hummers are not the solution. D: We need a massive program that addresses innovation. Innovation is the key to prosperity as Bill Clinton has shown. Though it should be better managed. E: The Israel/Palestine conflict must be resolved once and for all. --- If you have a point you want to contribute, feel free to make a comment. Team brains work better than a solo. --- Oh, before I go, you may remember yesterdays analysis, that is the strange opposition by Republicans to AG nominee Eric Holder, questioning his qualification. Looks he is quite qualified. He made over 2 million at the law firm he works for this year alone. That is about twice the average his partners made. --- Last: According to AP an Australian Court approved service of legal documents via face book. In the case here, a notice of foreclosure was served via the social network.
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