“Buy American”
Talks about the execs receiving bonuses after receiving bail-out money have never ceased. The government has also tried to urge investors to buy government toxic assets while the US automakers asks us to reject foreign imports. Do these appeal for economic patriotism make sense at these times?
It may sound cold but economists say that the capitalist system works best when individuals act in their own economic self interest – and not to try patriotism into own account. And consumers are doing just that. Whether we are buying a car, industrial products or other goods, we tend to buy the best product at the best price. So Buying American seems to be more like a slogan than anything meaningful. That is because we don’t know how much of any product is really made in the US. Buying a product to help the domestic economy according to mainstream economists will take away the U. S. company’s incentive to become globally competitive.
Does Buy American still makes sense at this time of crisis?
The election here in Minnesota is filled with odds and surprises. Not only that the incumbent senator Norm Coleman is neck to neck with Al Franken and is due for a recount sometime in the middle of November; but a toss coin decides who’s goign to be the Mayor of a tiny northwestern Minnesota town of Goodridge.
Barack Obama was easily proclaimed President-elect last Tuesday night after a graceful concession speech made by his opponent – John McCain. But there are still questions lingering about the 2008 Elections. And it does concern the state where I am at right now. Even until now, the election results are still in process. Who will represent Minnesota in the Senate?
Best-selling author Michael Crichton died unexpectedly in Los Angeles Tuesday, November 4, 2008 after a courageous and private battle against cancer.


If you’d like to build a nest egg with your paycheck, it may be time to give up New York and head for Plano, Texas. I read this on Yahoo! Financial section and thought I should share it.