Obamanomics

We need to be aware of the difference between regulation that stifles and regulation that promotes free markets. We also need to be aware of the difference between regulation to promote the economy and regulation to choke the economy. Regulations for transparency and personal responsibility help promote free enterprise by keeping things open and above board. These regulations require corporations to allow the stockholders, investors, analysts and regulators to see what the corporation is doing. These regulations keep the interest of the top management and the interest of the corporation in line with each other. Regulations are needed to standardize and offer security to key systems. The financial system is as much a key system as is transportation, food, medicine and utilities. The banks need to work under all circumstances, just like food, power and water. Therefore basic banking functions need to be treated to heavy regulation, not treated like a normal corporation. We may need to legally isolate the banking functions of a mixed corporation from other financial services. That way if the investment/retirement/insurance, etc. arms go down the banking arm keeps going. We need regulation that keeps the free market open, honest and working under all circumstances. Ups and downs are a normal part of any economy. We need to make sure that we keep going through the down times.

I love economics. My degree is in economics. I read a great deal on economics; and the greatest thing about economics, is that no one is the authority on the subject. Honestly, you put 10,000 economists in a room, and you'll get 10,000 differing opinions on what to do. Not to say that these men aren't knowledgable, but no one can take this enormous subject and craft a gameplan that will work beyond a reasonable doubt. I don't blame Bush for all of the economic struggles we face right now, and if things get worse, i won't completely blame Obama. Bottom line, we all just need to chill a little on the blame game, and accept that we are all partially responsible, but things will get better, eventually.

Start out with ending currency manipulation by Asian countries.
It is not free trade when currency rigging is allowed.
Therefore any Smoot-Hawley comparisons are invalid.

This is a very good piece. I hope that most people will get over their hatred for George W. Bush and let the new era of their own choosing come in. The 3 comments I see on this page do not give me a sense that this advice will be popular.

This picture says a thousand words... but I just have one - UNBELIEVABLE!

Of course: Obama must take some lessons, and who would be better suited to give those lessons than economists? So, please listen, dear president, lesson 1: neoliberal economists are never wrong, they just get misunderstood from time to time. Lesson 2: Market deregulation is never wrong: look at India (don´t look at China!) Look at Chile (don´t look at Mexico!). Lesson 3: Historical lessons are never wrong: just take some nice episode from 50 years ago, twist it a little bit, and use it for your purposes. And lesson 4, resulting from the other three: please don´t touch any of our beloved economical playing grounds (Wall Street and its marvelous financial products), because this would be the begining of a path that certainly would sooner or later take us.......to.......Keynesianism.....or....even.......(we don´t dare to say it)......SOCIALISM. Thank you so much, Cooley and Ohanian, for sharing your wisdom with Obama and the rest of us dummies!

Newsweek actually gets the analysis correct.


Pigs are flying.

The man is not offically in office yet and there some like you already saying that he want do this or he can't do that. President Bush is still the president as for right now and he has never did anything right. Would you all think the same way if McCant would have won and please don't forget the clue less Sarah Palin.

Here's how you fix the economy: Ship all these moronic social conservatives and their idiotic leaders up to Alaska. Then they can succeed from the union and they can elect Sarah Palin as their president and live in social conservative heaven.