Raymond Offenheiser wrote to the Washington Post, August 1, 2008 page A16:
"Oil producing nations are accumulating vast reservoirs of money in one of the most massive transfers of wealth in history. Not only is this estimated $1.5 trillion annual transfer largely not benefiting ordinary people in developing nations, it is also surrounded by secrecy, which fuels authoritarianism, corruption and conflict in nations such as Negeria. Oil firms should provide info on how much they pay to oil-producing nations so that citizens can hold their governments accountable for investing in education, health care and economic development." I would like to see investment in education, health care and economic development. Eco 101 course is not just economics but greening as Al Gore advocates.
Wall Street Journal. Aug.2-3, 2008: page A3: Job losses suggest economic weakness to persist. Unemployment hit a 4-year high of 5.7% in July.
Page A5: China lets banks lend 5% more to relax credit curbs that hit small businesses particularly hard. President Hu reiterated the new focus on sustaining economic growth amid a global slowdown.
CBS news says the food cost is getting higher and higher. We got to eat and we got to pay more for bread and rice.
Francis Shieh a.k.a. Xie Shihao. August 2, 2008 at 9 p.m.
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