This is very brief because I am about to watch the Prop. 8 case...
Economy:
Market way down: (http://www.google.com/finance?hl=en&tab=we).
China mulls economic stimulus: (http://www.marketwatch.com/news/story/chinas-lawmakers-weigh-stimulus-though/story.aspx?guid=F544BDAE-7547-44AA-8AE2-CE0642B01BE0&dist=SecEditorsPicks).
Gold up: (http://www.kitco.com/market/).
GM: "substantial doubt" of viability (http://money.cnn.com/2009/03/05/news/companies/GM_10K/?postversion=2009030506).
Citi Group stock below $1. Value at $5.5 billion from $55 billion high (http://www.bloomberg.com/apps/news?pid=20601087&sid=aKLJO8S5nFaU&refer=home).
Politics:
Feinstein front runner in hypothetical CA govenor race poll says(http://www.sacbee.com/topstories/story/1673204.html?mi_rss=Top%20Stories).
Obama + spending (http://www.cnn.com/2009/POLITICS/03/05/obama.pork/index.html).
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Wouldn't a large and progressive Chinese stimulus bill actually hurt long term U.S. economic dominance? If the Chinese prop up their economy to create more jobs and services, will the cost of labor and the price of materials not also go up? Is the U.S. so dependent on the Chinese' ability to give us loans to buy their products that we cannot actually keep our prices low without it? That doesn't seem to be a very stable way of maintaining our global economy. Also, I am hearing everyday of the Chinese government pursuading their people to come buy foreclosed (cheap) homes and land in the U.S. to maintain the historic Chinese diaspora. A giant stimulus bill might increase this trend, thus enabling the Chinese to grow more powerful and global in nature.
ReplyDelete...and it might be time to leave CA if this is the field of gubernatorial prospects we can look forward to voting for in 2010. Whitman actually seems like she would be a decent candidate (she has experience with the economy as one of McCain's economic advisors, and she did successfully run multibillion dollar companies). But it seems that she has little chance of being elected.. Maybe the Chinese will buy the governorship with their new stimulus package.
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