Comments on: Wall Street Snubs Obama http://www.dailyreckoning.com.au/wall-street-snubs-obama/2009/01/22/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 17:27:32 -0600 http://wordpress.org/?v=2.8 hourly 1 By: Andrew http://www.dailyreckoning.com.au/wall-street-snubs-obama/2009/01/22/comment-page-1/#comment-62621 Andrew Sat, 24 Jan 2009 09:50:02 +0000 http://www.dailyreckoning.com.au/?p=4859#comment-62621 As an American, deep in my heart I want to purchase an American car, I want to give the American automaker a chance. But I know the product will feel cheaper and be less reliable than their Japanese, European and even Korean counterparts! And it isn't like we all haven't given them a chance either, they believe in using cheaper plastics, cheaper interior components and designs which promote "planned obsolescence". I expect a Ford or Chevrolet to feel worn-out past 100k miles. I expect a Euro or Japanese car to feel solid well past that. The US DOES have some industries which they do well in - aviation, defense, heavy machinery, tooling. For someone to stay competitive, they must be able to specialize in quantity or quality. China does quantity well. Japan and Germany are known for quality, to the point that people will pay a premium for their products. On many fronts, the US is not doing quantity OR quality! The US economy now depends on retail sales at Christmas - that is - it depends on an artificial holiday which guilts people into buying Chinese-made presents bought on Chinese-backed credit. This segment employs hundreds of thousands of unskilled retail workers who have little hopes of advancement. And THIS is the cornerstone of the modern US economy!!!??? As an American, deep in my heart I want to purchase an American car, I want to give the American automaker a chance. But I know the product will feel cheaper and be less reliable than their Japanese, European and even Korean counterparts! And it isn't like we all haven't given them a chance either, they believe in using cheaper plastics, cheaper interior components and designs which promote "planned obsolescence". I expect a Ford or Chevrolet to feel worn-out past 100k miles. I expect a Euro or Japanese car to feel solid well past that.

The US DOES have some industries which they do well in - aviation, defense, heavy machinery, tooling. For someone to stay competitive, they must be able to specialize in quantity or quality. China does quantity well. Japan and Germany are known for quality, to the point that people will pay a premium for their products. On many fronts, the US is not doing quantity OR quality!

The US economy now depends on retail sales at Christmas - that is - it depends on an artificial holiday which guilts people into buying Chinese-made presents bought on Chinese-backed credit. This segment employs hundreds of thousands of unskilled retail workers who have little hopes of advancement. And THIS is the cornerstone of the modern US economy!!!???

]]> By: Joe http://www.dailyreckoning.com.au/wall-street-snubs-obama/2009/01/22/comment-page-1/#comment-62499 Joe Fri, 23 Jan 2009 03:41:42 +0000 http://www.dailyreckoning.com.au/?p=4859#comment-62499 How can anyone make any money these days with Obama in charge? He is described almost universally as the leader of the 'free' World. If that's the case then surely with no money changing hands, no one is going to get rich ! How can anyone make any money these days with Obama in charge?
He is described almost universally as the leader of the 'free' World.
If that's the case then surely with no money changing hands, no one is going to get rich !

]]> By: Mario Aeby http://www.dailyreckoning.com.au/wall-street-snubs-obama/2009/01/22/comment-page-1/#comment-62437 Mario Aeby Thu, 22 Jan 2009 21:44:19 +0000 http://www.dailyreckoning.com.au/?p=4859#comment-62437 1939 ... Germany invaded Poland on September 1st 1939!!! 1939 ... Germany invaded Poland on September 1st 1939!!!

]]> By: Nigel http://www.dailyreckoning.com.au/wall-street-snubs-obama/2009/01/22/comment-page-1/#comment-62295 Nigel Thu, 22 Jan 2009 07:49:48 +0000 http://www.dailyreckoning.com.au/?p=4859#comment-62295 Thanks Bill for your article "Wall Street Snubs Obarma". It made excellent reading and sits well with my thinking on this whole debarcle. It is at least nice to know there are some decent and clear thinkers out there. Thanks Bill for your article "Wall Street Snubs Obarma". It made excellent reading and sits well with my thinking on this whole debarcle. It is at least nice to know there are some decent and clear thinkers out there.

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