US elections: Small or Big Business?

copyright CoLabRadio

The Republican’s landslide win yesterday might have huge effects on President Obama’s economic policy. Lobbyists were quick to submit wish lists to the Republican majority, the main objectives on their agenda being tax cuts, loosening environmental protection laws, and revoking the health care reform, writes the Huffington Post. To what extend these wishes will be granted is unclear, but there already is one big winner of the elections: The financial services industry!

The Republicans are now in charge of the House Financial Services Committee and look set to delay or weaken new laws to control finance and to countermand many of the regulations put in place by the Obama administration after the Lehman collapse, says Aman News.

I think that instead of  wasting time by fighting over rules which will hopefully help to stabilize the American (and therefore also the global) finance system and apparantly are necessary, everybody in American politics should concentrate on fighting against the devastating unemployment to generate a sustainable GDP growth through consumption!

Therefore, Republicans should care less about Big Business’s wishes (they are the ones who do the lobbying) but more about Small Business, who create the jobs. Watch Bob Rice and Andrew Zalasin, both from Venture Capital companies, argue for Small Business on Bloomberg TV.

To learn more about the business implications of the election results, check this Wall Street Journal article

-B-

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4 Responses to US elections: Small or Big Business?

  1. rudi2020 says:

    9.6% unemployment rate is indeed devastating. I am under the impression, that further quantitative easing (QE) as well as buying gov. bonds for $900bn by the fed doens’t make so much of a diference.

    Those are measurements by the US for the US people. But maybe the American economy needs, besides putting more emphasis on SME, more efficient measurements of much larger, global, scale. For instance bi lateral treaties with other huge economies with an advantage for the US now, payback when they have recovered.

  2. Pingback: Invest into financial stocks now… | BraveNewFinance.

  3. In order to reply to rudi‘s comment, I would like to give an updated outlook on the USA fighting its unemployment rate.
    Namely, President Obama has just given his first “State of the Union” speech on 25th January 2011.
    In his speech, Obama put much emphasis on fighting the employment rate. He even made this task his number one job for 2011.

    If you want to watch the speech in full length, then feel free to watch this youtube-video:

  4. Pingback: Bernhard Loock (bravenewloock) – Personal Development in Blogging (Blogpost # 10) | BraveNewFinance.

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