Day 496 – Questions for our Leaders

S&P 500 Decline
9-Nov-07 1565
21-Nov-08 752 52%
18-Feb-09 788 50%

U.S. President Barack Obama is visiting my cold and overcast city today. With this visit Canada becomes the first foreign destination for the new President. This has generally been the case for his predecessors as well. I understand that we won’t get to see him as he will be hidden from view for the 6 hours or so that he spends on Canadian soil. From a foreign policy perspective our hope is that this is the start of a friendly and mutually beneficial relationship between President Obama and Prime Minister Harper. Everyone needs someone they can confide in, especially when the challenges are many (to use Obamaspeak). This is just a meet and greet but if we could submit some questions…

For President Obama

1. Why stimulus? Are tax cuts simply a non starter?  The Regan-Thatcher years were a required response to big deficits and inflation problems of the 1970 and 80s.  Could we jump to a solution that actually worked?

2. How long do we hold the spigot open? Financials, Autos  … who is next?

3. Could we just give the auto workers the money and cut out the middleman? Would this cost less? Has anyone done the math?

4. What engineering superiority are we protecting by maintaining the auto industry as currently configured?

5. How does cutting salaries for Bank Presidents repair the economy?

For Prime Minister Harper

1.  What’s the plan for minimizing the environmental impact of the Alberta Tar Sands? How can we continue to supply this enormous quantity of oil at prices that we do not control without properly matching  all of the costs to the revenue stream?

2. Do you have a plan for Cap and Trade?

3. Do we believe in the gains from trade? What is the Canadian government doing to improve our position in emerging markets like India and China?

4. Now that the North American stock markets are down again this year, any more market timing suggestions you would like to share with us?

5. Who is going to win hockey’s  Stanley Cup this year?

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