It was announced on October 22 that the U.S. would join other nations in a series of global economic summits, with the first one being held in Washington on November 15.
As the Associated Press reported: “The summit will bring together leaders of the Japan, the United Kingdom, France, Germany, Italy, Canada and the United States, the European Union, China, Brazil, India, Russia, South Korea and other major economies. [White House spokeswoman Dana Perino] said the White House would seek input from the winner of the U.S. presidential election who will take office on Jan. 20. Perino said countries would come to the summit with different approaches about what's needed to fix the system. ‘I don't believe that you'll have any details coming out of this meeting in terms of things that everyone agrees to at the first meeting,’ she said.”
Among U.S. political leaders, everybody seems to like the idea, with President Bush hosting, presidential candidates Barack Obama and John McCain being supportive, and Senate Majority Leader Harry Reid (D) endorsing the idea.
Does this make anyone else feel as uncomfortable as I do?
Getting political leaders together from around the world to dream up ways to “fix” the economy and our financial system will only serve to inject more uncertainty and concerns into markets that already are deeply rattled.
AP reported: “At Camp David, Bush warned that any international effort should preserve what he calls democratic capitalism — free markets, free enterprise, and free trade.”
That would be nice, but it is hard to believe -- especially given the recent massive, unprecedented intrusions by government into the market -- that this would be the case.
Buckle up for more uncertainty and costs created by government.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
Wednesday, October 22, 2008
Tuesday, October 21, 2008
Navigating Economic Turmoil: What's Next for Business?
Please join SBE Council’s Karen Kerrigan and co-host Andrew Sherman for the FREE Growth Without Barriers webcast: Navigating Economic Turmoil – What’s Next for Business?
The entire hour will be dedicated to answering viewer/participant questions. (You may send any pre-event questions to: info@sbecouncil.org.) Do you have a question regarding business operations or strategy? How about the policy outlook, or where the candidates’ stand on key issues impacting entrepreneurs?
Tune in on October 22, 2008, Noon-1:00 p.m. EDT. You may access the webcast by visting this link:
http://www.growfastgrowright.com/events/081022/
The entire hour will be dedicated to answering viewer/participant questions. (You may send any pre-event questions to: info@sbecouncil.org.) Do you have a question regarding business operations or strategy? How about the policy outlook, or where the candidates’ stand on key issues impacting entrepreneurs?
Tune in on October 22, 2008, Noon-1:00 p.m. EDT. You may access the webcast by visting this link:
http://www.growfastgrowright.com/events/081022/
Check Up on Your Governor
They always seem to talk a good game, but just how fiscally responsible is your governor?
Well, you can find out by checking out the Cato Institute’s just-released “Fiscal Policy Report Card on America’s Governors: 2008” written by Chris Edwards.
As described by Edwards: “This ninth biennial fiscal report card examines the tax and spending decisions made by the governors since 2003. It uses statistical data to grade the governors on their taxing and spending records – governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades.”
Best and worst? Edwards notes: “Three governors were awarded an 'A' in this report card – Charlie Crist of Florida, Mark Sanford of South Carolina, and Joe Manchin of West Virginia. Eight governors were awarded an 'F' – Martin O'Malley of Maryland, Ted Kulongoski of Oregon, Rod Blagojevich of Illinois, Chet Culver of Iowa, Jon Corzine of New Jersey, Bob Riley of Alabama, Jodi Rell of Connecticut, and C. L. 'Butch' Otter of Idaho.”
Check out the fiscal report card, and then start asking questions of your elected officials.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
Well, you can find out by checking out the Cato Institute’s just-released “Fiscal Policy Report Card on America’s Governors: 2008” written by Chris Edwards.
As described by Edwards: “This ninth biennial fiscal report card examines the tax and spending decisions made by the governors since 2003. It uses statistical data to grade the governors on their taxing and spending records – governors who have cut taxes and spending the most receive the highest grades, while those who have increased taxes and spending the most receive the lowest grades.”
Best and worst? Edwards notes: “Three governors were awarded an 'A' in this report card – Charlie Crist of Florida, Mark Sanford of South Carolina, and Joe Manchin of West Virginia. Eight governors were awarded an 'F' – Martin O'Malley of Maryland, Ted Kulongoski of Oregon, Rod Blagojevich of Illinois, Chet Culver of Iowa, Jon Corzine of New Jersey, Bob Riley of Alabama, Jodi Rell of Connecticut, and C. L. 'Butch' Otter of Idaho.”
Check out the fiscal report card, and then start asking questions of your elected officials.
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
Monday, October 20, 2008
Small Business Challenges and Opportunities
Given the current, widespread uncertainty in our economy, both challenges and opportunities exist for U.S. small businesses.
Chad Moutray, chief economist and director of research for the Office of Advocacy of the U.S. Small Business Administration (SBA), does a good job of highlighting some of the key challenges and opportunities in a new paper titled “Looking Ahead: Opportunities & Challenges for Entrepreneurship and Small Business Owners.”
Among the challenges Moutray notes are strengthening the economy, tax and regulatory costs, health care costs, and attracting and keeping good workers. Opportunities include investments in technology and innovation, pursuing new markets overseas, and education and training.
Moutray concludes: “Americans will head to the polls in a matter of weeks. Many of us will be looking to our leaders for solutions to the challenges confronting small businesses across the country. Putting in place policies that promote economic growth and stability will allow entrepreneurs to more easily exploit the opportunities that confront them.”
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
Chad Moutray, chief economist and director of research for the Office of Advocacy of the U.S. Small Business Administration (SBA), does a good job of highlighting some of the key challenges and opportunities in a new paper titled “Looking Ahead: Opportunities & Challenges for Entrepreneurship and Small Business Owners.”
Among the challenges Moutray notes are strengthening the economy, tax and regulatory costs, health care costs, and attracting and keeping good workers. Opportunities include investments in technology and innovation, pursuing new markets overseas, and education and training.
Moutray concludes: “Americans will head to the polls in a matter of weeks. Many of us will be looking to our leaders for solutions to the challenges confronting small businesses across the country. Putting in place policies that promote economic growth and stability will allow entrepreneurs to more easily exploit the opportunities that confront them.”
Raymond J. Keating
Chief Economist
Small Business & Entrepreneurship Council
Subscribe to:
Posts (Atom)