Thursday, October 15, 2020

Thoughts on President Trumps Speech at NY Economic Club

President Trump discusses the economy, vaccines, trade deals and much more. For the purposes of this blog I'm more into the economic side. He said we are going to have a great 3Q. I also believe this is possible but I'm not really anything special when it comes to economic projections. I'm just dabbling with an economic theory of transactional clusters that might do a better job of incorporating digital GDP and new virtual employment. Technological adaptation and changing of American habits can have an impact on online purchases, services, etc... (There is going to be some need for changing our regulations and policies to better protect business and consumers from overreaching marketspace policies but that ultimately they trail blazed some of what we need for a digital transformation.)

Yikes...I keep blabbing! Ultimately....if its true that his administration indicates there 3Q will be a great economy and then early next year better...I would like to know the logic they are using. Two different ways of looking at the same problem and coming to a similar conclusion is interesting. That would be cool. My theory isn't politics...and it doesn't have anything to do with supporting any particular candidate. What I want to understand is if my model can predict a market change, upswing, or economic activity. It almost seems like I'm getting closer to creating a wider digital framework.

As with all theories it borrows from many other theories like Creative Destruction, Theory of the Firm, and Social (Virtual and Physical) Social Networking to explain innovation and digital development. You can read more about it HERE in its working draft work. I'm not an economist by trade but do have a doctorate in business and some understanding of how science works. So I think I'm doing a descent job of integrating lots of different resources and research. I'm not saying I am the "authority" on the topic in any way, shape or form. 

I digress...

President Trump does mention regulations and treaties. Yes...I think these are important. We want regulations that make sense but not those that hinder business without providing any real benefits to society. Purging old regulations and creating new ones helps in better managing the nation and keeping us up to date so we can compete on a global scale. We have lost some of that competitiveness over the past few decades as China rises and we become accustomed to thinking "within the box". 

Changing treaties is also important when we can use our leverage to get a better deal. To truly have a powerful place on the market we want to updated our digital networks and put ourselves at the center of the global supply chain. This means we want the U.S. to be innovative and pro entrepreneurial activity in a way that leads to higher international investment, universal law (that applies equally across different races/religions, and a higher and more enlightened society that helps people become life long learners. 

You can watch the video below....


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