Obama and His Dream Economic Team

Obama has finally announced the key members of his Economic Team. This is a major decision. I guess Obama is all set to face and overcome this economic crisis which is not just affecting the United States but the whole world, even before his official term starts as the 44th President of the United States of America. The United States Gross Domestic Product(GDP) is declining and this also means that the country's economy is shrinking as well.It might be God's will to test Obama's abilities to run the country and how he can save the world from this disastrous economic downturn, with the role of the leader of the world's strongest super power nation, United States of America.

"The reality is that the economic crisis we face is no longer just an American crisis, it is a global crisis -- and we will need to reach out to countries around the world to craft a global response," Obama said Monday, unveiling his economic team for his administration, which begins January 20.

I will wait and see whether Obama has picked the right people to serve as his economic advisors.

"The fact Obama has assembled a serious, centrist economic team is a positive," says David Kelly, chief market strategist at JPMorgan Funds. "More important is that Obama's team is confronting the problems facing the economy and banking sector before Inauguration Day."

Will Hilary Clinton be the chosen one for the post of Secretary of State? I sincerely hope that she will be appointed the role, succeeding Condoleezza Rice.



Not forgetting Michelle Obama, the first African First Lady of the United States.I have always admired females in politics. It has always been interesting to see how females can balance feminity and agressiveness in the battlefield of politics.She is another ideal representation of beauty and brains with her impressive background, i should say. She is defintely one of my role models in life.

Many of Singapore's corporations such as Temasek Holdings and Singapore Airlines have announced that they will be cutting the salaries of employees and these include the top management, instead of the choice of laying off employees. I guess many corporations will halt their recruitment for a certain unknown period of time. Obama has also announced that the U.S government will invest $20 billion in Citigroup and guarantee $306 billion in risky assets. The formation of the new Economic Team and the bailout of Citigroup which did have some effects on share markets around the world, but they are still insignificant to pull the world out of this economic crisis.

Britain, on the other hand, has 'unveiled a major economic stimulus package worth 20 billion pounds' to 'reignite consumer spending and help the nation recover from a deep and painful recession expected next year'. The Singapore Government has just announced that they will not be following this policy, so what plans do they have in mind? Japan has also faced one of their biggest decline in exports in 7 years and i remembered hearing from news that Japanese automobiles are facing a sharp fall in demand from overseas markets. Not too good for a country like Japan whose economy is fairly dependant on exports. I guess the Keiretsus are battling hard with their economy. Trade deficit for Japan? Definitely.
2009 will be a black year for everyone?

Well, recessions comes in a cycle. No one can prevent it. Just a penny of my thoughts.



Christine