First up, the issues of healthcare reform, it’s still relevant nonetheless, but they should seriously consider deviating away from the major emphasis placed by the lawmakers on that issue. It seems to be dragging but definitely not as salient as the financial reform issues.
Bankers’ bonuses are also a deep issue considering that the Bank of America’s bankers are reaping in huge incomes. Nicolas Sarkozy an advocate for this issue is trying to put a cap on it but Washington apparently is displeased about the whole thing. I guess it probably means that they are confident of curbing such fraudulent acts and I postulate that they find it an insult to their capabilities to suppress such insolent acts if the government has to take such a radical approach.
Coming up next, will the climate change. We all know that global warming is right on our tails and that the day is getting hotter and more humid along the way, but it seems to have toned down and that people are seemingly used to the fact that the world is getting hotter. But we have to do something or we will all melt away. Policies should be made and new changes should be done to the protocol to curb the effects of the global warming. Also, stricter rules should be implemented and large corporations which have failed to cut down the amount of carbon dioxide which they agreed upon must be fined immensely to teach them a lesson. Radical approach is a must and everyone must capitulate even though their profits will be hurt in the process.
Of course, how can we forget about the exit strategy? We go into this stimulus package and we must eventually come out of it. It is going to hurt big time, just like taking a knife out but it is a must. The question is when are they ever going to do it? Probably by 2010 I hope or there will definitely be further repercussions once people become overly reliant on it. Now the recovery is mild but assiduous. Any big moves will definitely destroy the fragile recovery on the way. Much support is still needed from the government.
Last but not the least and the most important issue, which is sustainable growth. Right now, we can see clear evidences that the United States’ economy seems to be recovering with reference to the rising stocks along with growth in the consumer demands. But the main question is, is it going to be sustainable? It is important to ensure sustainable growth before one gets complacent. Many economies are still sceptical about the potential recovery ahead since export demands are still weak. Stimulus packages have been focussing more on improving domestic demands whereas foreign demands are still on the downside. Ultimately, growth has to be sustainable and globalised nonetheless in order to keep cash flowing in. There has to be a balanced in the global trade along with the regional demand to minimise the chain effect of the crisis. Right now, we can already see a trade deficit in China which is pretty hazardous to the world. Without the superpower to support the drowning economy, we could be sinking into the part 2 of the financial crisis yet again. Now that the Asia is still standing strong despite being hit just proves that the balance in Asia is pretty sustainable. Right now, the growth is still tied to the credits and subsidies provided by the government’s stimulus package. It is not sustainable at all. For a sustainable growth, the government has to lead the economy like teaching a baby how to walk, step by step.
Credits -alleghenyconference, -marsh, -neatorama, -addlight, -askehbl, -kelloggs
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