$146 Billion package passed by the house!

The stimulus plan of George bush has been passed and for the common man on the street this means tax rebates from $600-$1200. The stimulus package is one that had been designed in a hurry and the markets do not like it all that much. I have to say that I cannot blame in this; my personal opinion is that this stimulus package is too short sighted and it seems to serve more as a band aid to an all ready hemorraging economy than a cure for what ails it.

For one, it still does not address the huge problem of the credit crunch as well as that of the housing market, both of which are still intent on riding the economy far in to the doldrums. For one, had the administration envisioned a plan by which the housing rates were regulated and bought more pressure on the banks to increase their lending, that would have taken care of half of the problem. As it is, the housing market and the credit crisis barely got a mention in the 'state of the union' speech.

I think that we can all agree that George bush has some really good writers on his team and I am sure that they must have devoted whole sections of the state of the union speech to the current problems. I am betting that George bush forgot all about it and meandered on. Either way, the current stimulus plan is kind of like the 'Watergate' episode and they are still yet to learn that there is no point in closing the barn door long after the horses have escaped!

China mobile inks 1B$ deal!

Ericsson and China mobile ink together an 1 B$ deal .according to this deal Ericsson will provide all the core and network equipment for GSM coverage.China's President Hu Jintao, on a two-day state visit, and Sweden's Prime Minister Fredrik Reinfeldt joined Ericsson Chief Executive Carl-Henric Svanberg and China Mobile CEO Wang Jianzhou for the signing ceremony in the Swedish capital.
In a few months time we may all be able to enjoy the full benefits of the GSM coverage with additional choices coming into the market very soon.of course the cost per GSM enabled mobile would be a bit high for the person on the street but with such a huge mobile market,the prices would soon tumble as logic holds sway.
Ericsson has already started providing all the necessary equipment.so lets see what happens on the mobile scene in china in a few months time!