It is about David Walker, comptroller general of the United States. He totalled up all income and liabilities, and sees some very big problems.

Another good read is Peter Grandich’s November 7, 2008 alert here: http://grandich.agoracom.com/2008/11/grandich-letter-alert-november-7-2008-430pm-est/

Hope you enjoy them.

I think we are headed toward space and alternative energy anyways, but a President can speed it up or slow it down. I hope he doesn’t unintentionally slow it down with dumb economic policies that hinder the economy. Time will tell. Ultimately, these will occur, with or without President Obama’s support.

“I have a libertarian philosophy in the spirit of Jefferson and Hamilton. Change would mean refocusing on the Constitution and Bill of Rights, focusing on personal freedom and personal responsibiltity, and focusing on reducing the size of government as a percent of GDP by eliminating useless programs, wasteful spending and all kinds of transfer payments.

Individualism, economic freedom and entrepreneurship made America great. Big government, entitlement and the general ignorance of American history and constitutional government have made America soft.

As people begin to focus on Obama from a policy perspective, which by the way should have been done during the primaries and Presidential campaign, there will likely be many questions - in part because Obama was so vague and often offered conflicting statements. The only point of consistency was his plan to raise taxes and his view that government should be at the center of all things economic.

If he has his way, I expect the Mr. Market to catch a considerable cold.

I do not see Obama as thoughtful at all. I see him as ideological with very liberal tax and spend agenda. For example, he wants to raise taxes on capital because of his arbitrary sense of fairness even though he acknowledged that the empirical evidence did not support his view.

Let’s hope he has no honeymoon given that he has had a free pass in the press for the last two years. Just maybe then, Obama will not wreck what is left of the economy.

Let’s hope he is pragmatic. I am not holding my breath.”

Innovation in the medical sector will still be there because many of the hospitals, even poorly run socialized ones, will want new technologies to help treat the patients more effectively. The U.S. will still innovate in this sector. There may not be as many smaller companies innovating though, due to the large state run hospitals only purchasing technologies from larger, more established companies with strong track records and balance sheets - and manufacturing facilities large enough to provide a large number of medical units in a timely fashion.