Today, we’re going to be discussing the Obama stimulus package and the plank that contains “Buy American.” Here’s what I wrote earlier today:
Another example of this type of behavior stems from the stimulus plan. This is fertile ground, but let’s just focus on one populist aspect: Buy American. How can anyone with a minimal understanding of how our economy works insert this provision into a “stimulus” plan is beyond my level of comprehension. Can one say Smoot Hawley fast enough? Did anyone think to look at a company like Caterpillar and ask how much of their sales are derived from overseas?

Here’s the article that will be discussed and it expresses many of the themes I’ve been writing about:

http://seekingalpha.com/article/117656-buy-american-goodbye-global-friends?source=headline1

Tonight at 8:45 PM ET, I’ll be appearing on CNBC Reports with Larry Kudlow discussing the Obama administration’s stimulus plan and the US Treasury’s TARP program.… …READ MORE