Dear American people:

   After those years Mr. Obama has been through with all American people, it is time for you to realize that Mr. Obama is quite a good choice for the USA in a decade. Maybe Mr. Obama is too good to be true for the whole American people. There is a rumor saying that Mr. Obama may not get elected in 2008, so members of Democreatic party chose him to be the candidiate. I know it sounds crazy but the Democratic party does not support Mr. Obama enough even when Democratic party holds both US Sneate and US House seats. American people choose the Republican to be the majority in both congresses lately means that they want Republicans to face same challenges with Mr. Obama. They want all American  politicians to work together to deal with America situations.

  Mr. Obama did nothing wrong lately. He is fully awared the strength and weakness of Quantitative Easing. It is the reason why he knows the immigration issue has to go on. The QE of Japan shows a big weakness that when the QE og Japan was performed, it provides liquidity to the whole world.  But Japan can not get enough benefits from its own QEs because Japan has higher living standard and closes its border for foreigners. The job of low skilled worker in Jaopan can not be filled with lower wages and those low payroll jobs do not exist in Japan. The immigration relief of US does solve those problems. The most important part of immigration issue is those workers will consume and live in the USA. So the mostly payrolls they earn will be left in the USA. They consume what they earn mostly because those jobs are with lower payrolls. American people may blame for those immigrations to be the reason of lower growth of US payroll increase lately. Compared with 2007, today, the payroll increase of 2014 is lower than one percent (2.1% vs 3.1%). But American people neglect several points about the payroll increase.

   The first issue is the banking lending of 2014. Compared with the banking lending of 2007, even Mr. Bernanke can not get refinanced for his own house in 2014. The monetary expansion effect of US QEs is not as we expect than used to be. The US banks become cautious about the borrowing and lending to ordinary small and midsized US corporations (SME) and US individuals. On the other side, it is great for the whole US financial system which shows those banks will not face severe bad loans as it faced in 2007-2008. The second issue is the US living standard. The US living standard is so high which need a lot of money to suppport. Or the deflation effect will be easily found in the US if US citizens stops borrowing from abroad or domestic to support their own living standards. The higher living standard needs higher payroll or higher borrowing to support. As it has been shown lately, we know the borrowing just can not happen because the US houlseholds already face higher debt burden from 2008. The most payrolls or investment profits they earn go largely to reduce their own debts lately. How can you expect the payroll increase that much when US banks stop loaning and the US saving rate is still in the lower level compared with 30 or 40 years ago? Both issues mentioned above show reasons for the weakness of US payroll increase. Those vulnerabilities need time to fix and need a lot of savings to resolve. It is just the beginning year of US reviving. American people need to work even harder to make the US back on its normal track.

  People often mention that the China seems to be in better shape. The most difference is the China has closed economy which forbid their citizen to invest abroad or just with a lot of restrictions. Also, the Chinese RMB can not be float traded freely in the international markets. The RMB is not an international currency yet. So even the Chinese banks all have larger bad loans to be cleared, those issue will not have side effects on its currency and other nations as the USD. The USA is an open society and the US Dollar is an international currency. The QEs of US have big impacts on other nations already. All those comparisons between the China and the US are not reliable. The Chinese authority can print a lot of RMB to support all Chinese banks with bad loans at no cost to international society except Hong Kong and Taiwan. Chinese banks can even forbid its owners of saving account to withdraw lots of RMB in one day or in a longer period of time. It will not happen in the USA. American people will not tolerate those things happen in the USA. A free society just has to deal with its own issues with different ways. American people have to realize that every American citizen deserves to have a better healthcare because the USA is an advanced nation compared with the China. The Chinese authority can not let its people have good healthcare because it just worries the healthcare cost is well beyond its ability to afford. The Chinese society just can not afford the cost to let every Chinese have a good healthcare. I still believe American people whould find a way to compromise those benefits and costs on the public healthcare issue. It is an issue we also face lately in Taiwan.

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