Recently, I am reading "The New York Times", especially the articles in business. I first was astonished that many economists including novel prize winners, express their ideas freely on the papaer because I don't feel such as an atmosphere in South Korean Journals. Anyway, I am pleased in reading the papaer news.

There are only few days to take an inauguration of president-elec Barak Obama. So many journalists or columnists mention his name in their articles. For example, Obama's economic stimulus plans. I feel that many people are expecting Obama's excellent performance. Result is... I don't know.

Let's go into the main subjects now. What do you think of recent economic situations? The worst unemployment rate,  plunging in stock and bond markets and consecutive bankruptcies. I was also scared when Lieman Brothers are bankrupted in Sept. 2008 although it is even better than 3 months ago.

Is it a real second Great Depression? Most of people is likely to think so. But if we provide the market with a strong rescue plan swiftly and boldly, we can avoid "The Second Great Depression". So we must focus on the stimulus plans of Obama's administration. Obama has a key to treat the recent economic downturn, I believe.

So, are Obama's economic stimulus plans consisted of?  The answer are "public spending and tax cuts for middle class".
Maybe, total is $800 billion. Some economists argue the size of Obama's stimulus plans.

Anyway, most economists agree the solution of this type. They resisted that a year ago because it causes a big government. The condition changed and so they changed since then.

The future is dark because today is dark. But I belive that we can change the current conditions and make it better.

Finally, I want to share the fun to study and discuss the economic issues. So I suggest that you read the economic news, books and so on including textbooks. Textbooks always provide you with necessary knowledges, I believe.