"Stocks plunge; Next Step is Uncertain." Such Headline may be misleading or out-of-date with Sept.30, 2008 as the date of such paper.
It needs to be updated as of 3 p.m. 9/30/08 Stocks are up for recovery as per online info. www.Yahoo.com I pays to be online,indeed! The Bailout Bill will be approved by Congress soon. The shares of Bank of America and Citigroup are holding steady. The big getting bigger. Citigroup: 2.97 trillion and Bank of America: 2.95 trillion. Citigroup is a pillar of strength in acquiring Wachovia.
Page A6:: Spurning Secularism, Many French Muslims find Haven in Catholic schools. Perhaps such practice would be useful in United States to reconcile misunderstanding of different faith as the melting pot in USA.
In China,religious faith are approved unless it is a cult. There are folks who have faith in Budda or Jesus Christ(Protestants and Catholics) or Daoism. However,Most Chinese do not have any official religion but have ethics and morality as built-in faith for "Laotianye" derived from family traditional culture for generations.
Page C3: Buffett Invests in Chinese battery Maker: BYD with promising future for electrical products in the 21st century. That is for sure as far as I can reason for Sino-American Economics in action.
Page A31: Bee Wilson wrote: "New York's forgotten poison milk scandal has echoes in China today. To wit: New York City in 1858 - Swill milk rumbled on in New York for several decdes of the 19th century New York dairymen padding their milk with water and then restoring its richness with flour -just like their latter-day Chinese counterparts. As early as 1842, a temperance crusader named Robert Hartley warned that city milk could be catastrophically tainted. The similarities between China today and New York 150 years ago should not come as a great surprise. Adulteration on such a scandalous scale occurs in societies with a toxic combination of characteristics under the influence of a capitalistic economy coupled with a government unable or unwilling to regulate the food supply. In such get-rich-quick societies, there is huge temptation to tamper with food. It took stronger food laws, better policing, the advent of pasterization and the passage of the Food and Drug Act in 1906.
The American food supply is still flawed as panic over salmonella in produce known lately. But it is worth remembering that it has been far worse. China's present is America's past." Bee Wilson is the author of "Swindled: Food Fraud from poisoned candy to counterfeit coffee.
Francis Shieh a.k.a. Xie Shihao, a reader to keep other readers informed via www.Blogger.com
Sept. 30, 2008 at 3.25 p.m.
Tuesday, September 30, 2008
Letter from Henry Lowenstein to WashPost,9/30/08
Lowenstein of New York wrote to the Editor apropos of The House's Bailout Bill Vote as published on September 30, 2008 on page A18.
"This action will have a severe domino effect; we will see not only the failures of many more financial institutions but also municipalities, automobile and airline companies, and many small businesses. There will be virtually no credit extended by banks to other banks; to large and small businesses; to people who need home, auto and college tuition loans, and entrepreneurs who need credit to start and run new business ventures. Millions of jobs will be lost, and more millions of Americans will default on their mortgages,credit card debt and other obligations. Other nations, especially China, which holds roughly $1 trillion of our debt, will be greatly affected as the dollar becomes all but worthless." My comment: US dollars will never be worthless since it is almost international currency in terms of the status of US Dollars in the world even though US Dollar suffers some loss as known nowadays. When we look at the paper currency on one side,we read 'This note is legal tender for all debts,public and private' with savvy! On the other side, 'In God we Trust' We must have faith, hope and charity for Uncle Sam now and in the days to come in the 21st century. Here is my positive scenarios for Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China to USF in San Francisco(1947) and to Georgetown Graduate School in 1948 to learn the good things in America(read Pin Yin below) and disregard some undesirable events/ unhealthy situations in USA as a lifelong learner for knowledge and wisdom. Sept. 30, 2008 at 11 a.m.
In Pin Yin: "Xuanze haode xuexue ba."
"This action will have a severe domino effect; we will see not only the failures of many more financial institutions but also municipalities, automobile and airline companies, and many small businesses. There will be virtually no credit extended by banks to other banks; to large and small businesses; to people who need home, auto and college tuition loans, and entrepreneurs who need credit to start and run new business ventures. Millions of jobs will be lost, and more millions of Americans will default on their mortgages,credit card debt and other obligations. Other nations, especially China, which holds roughly $1 trillion of our debt, will be greatly affected as the dollar becomes all but worthless." My comment: US dollars will never be worthless since it is almost international currency in terms of the status of US Dollars in the world even though US Dollar suffers some loss as known nowadays. When we look at the paper currency on one side,we read 'This note is legal tender for all debts,public and private' with savvy! On the other side, 'In God we Trust' We must have faith, hope and charity for Uncle Sam now and in the days to come in the 21st century. Here is my positive scenarios for Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China to USF in San Francisco(1947) and to Georgetown Graduate School in 1948 to learn the good things in America(read Pin Yin below) and disregard some undesirable events/ unhealthy situations in USA as a lifelong learner for knowledge and wisdom. Sept. 30, 2008 at 11 a.m.
In Pin Yin: "Xuanze haode xuexue ba."
Google goes to Washington, Gearing up to put its stamp
On US Government. Yes. However,if you wish to google your friends, you may do so by searching the person to learn his/her activities. We are so lucky to live in the 21st century with such high tech to find out things in a jiffy. The world is getting small, indeed! If you have a craze to visit Hawaii, you may search Police Chief Dan Liu online and find out his background and his contribution as an outstanding American law-enforcemt officer of Chinese ancestry. Have a great day online to be a self-appointed private eye to find the late Public Eye Chief Dan. A police station has been dedicated to his name in downtown Honolulu and you may visit Police Station on your own volition. Hehehahahoho all the way to be law-abiding to live to be centerians. Any violation of the laws in Hawaii would be ordered to be in the Police Station. It is the paradise in the Pacific but the cost is high due to inflation in the island and other parts in USA as well. You better believe it as such.
Francis Shieh a.k.a. Xie Shihao, an honorary citizen of Honolulu,Hawaii in recognition of contribution online to send my blogs with ALOHA apropos of Sino-American Economics of Harmony for folks on both sides of the Pacific with globalization in mind for peace and economic development to honor One World and One Human Race. Sept. 30, 2008 at 7.05 a.m. in Maryland, USA.
Francis Shieh a.k.a. Xie Shihao, an honorary citizen of Honolulu,Hawaii in recognition of contribution online to send my blogs with ALOHA apropos of Sino-American Economics of Harmony for folks on both sides of the Pacific with globalization in mind for peace and economic development to honor One World and One Human Race. Sept. 30, 2008 at 7.05 a.m. in Maryland, USA.
Monday, September 29, 2008
The result of the votes by the House in Congress re financial crisis
NY Times,Sept.29, 2008 Page A25:
Paul Krugman: Mr. McCain is more frightening as he declared that America's financial markets have become a casino.(sic) and the modern economy, it turns out ,is a dangerous place.
Page C1: To many,a recession seems unavoidable as I sent my blogs months ago.
USAToday: Page 1B: Americans gloomier for now: 33% surveyed say we are already in a depression. 42% on page 2B - a year from now- better economic times i.e. growing. Have your own scenarios,please? It is fun to make projections.
Warren Buffett said we'll have the worst market meltdown we have ever seen. And I concur.
Sung Won Sahn,Professor of Economics at California State University: "Financial market is sliding farther downhill at an accelerating speed leading to an inevitable crash." Well, I think the economy may be exacerbated but not a crash per se!
I have reason to believe that the word "crash" is more than hyperbole(exaggeraton) i.e."kuazhang" in Pin Yin.
Sino-American Economics will be sustainable for mutual benefit in the 21st century.
Francis Shieh a.k.a. Xie Shihao. September 29, 2008 at 4.05 p.m.
Paul Krugman: Mr. McCain is more frightening as he declared that America's financial markets have become a casino.(sic) and the modern economy, it turns out ,is a dangerous place.
Page C1: To many,a recession seems unavoidable as I sent my blogs months ago.
USAToday: Page 1B: Americans gloomier for now: 33% surveyed say we are already in a depression. 42% on page 2B - a year from now- better economic times i.e. growing. Have your own scenarios,please? It is fun to make projections.
Warren Buffett said we'll have the worst market meltdown we have ever seen. And I concur.
Sung Won Sahn,Professor of Economics at California State University: "Financial market is sliding farther downhill at an accelerating speed leading to an inevitable crash." Well, I think the economy may be exacerbated but not a crash per se!
I have reason to believe that the word "crash" is more than hyperbole(exaggeraton) i.e."kuazhang" in Pin Yin.
Sino-American Economics will be sustainable for mutual benefit in the 21st century.
Francis Shieh a.k.a. Xie Shihao. September 29, 2008 at 4.05 p.m.
Views apropos of Economic Stabilization Act of 2008
Washington Post,September 29, 2008 page A19:
Robert Samuelson's Bankrupt Economics: "A crisis resists the usual remedies":-
The economy will get worse. Michael Mussa of the Peterson Institute for International Economics thinks unemployment (now 6.1%) could peak near 7%; other projections are higher. " The harder question is whether financial turmoil heralds an era of instability." My comment: That remains to be seen during the course of time.
Lawrence Summers wrote "A Bailout is just a start":-
"A time when confidence is lagging in the consumer, financial and business sectors is not a time for government to step back. Well-designed policies are essential to support the economy and, given the seriousness of health-care, energy, education and inequality issues, can make a longer-term constribution as well."
Page A14: CHINA:-
Three Chinese astronauts returned to Earth on Sunday after a milestone mission to carry out China's first spacewalk.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 to be a lifelong student forever. September 29, 2008.
Robert Samuelson's Bankrupt Economics: "A crisis resists the usual remedies":-
The economy will get worse. Michael Mussa of the Peterson Institute for International Economics thinks unemployment (now 6.1%) could peak near 7%; other projections are higher. " The harder question is whether financial turmoil heralds an era of instability." My comment: That remains to be seen during the course of time.
Lawrence Summers wrote "A Bailout is just a start":-
"A time when confidence is lagging in the consumer, financial and business sectors is not a time for government to step back. Well-designed policies are essential to support the economy and, given the seriousness of health-care, energy, education and inequality issues, can make a longer-term constribution as well."
Page A14: CHINA:-
Three Chinese astronauts returned to Earth on Sunday after a milestone mission to carry out China's first spacewalk.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 to be a lifelong student forever. September 29, 2008.
Economic Growth Estimates Lowered as expected
GDP expanded more slowly in 2nd Quarter because of the continuing downturn in the housing market and the financial crisis. The bailout package may be approved by Congress today,Monday but the effect would not happen overnight. A pie in the sky or otherwise? Let us wait to see the impact domestically and overseas markets with cautious optimism. Nobody has the clearcut answers,only time will tell.
Published by the Washington Post,Sept.27, 2008 on page D3: Next April 15, checks for billions of dollars will go out from the US Treasury to Citigroup,Bank of America et al. A token of gratitude for having done to create and sustain our innovative and efficient financial system.(sic) E-Mail: pearlsteins@washpost.com
As a Kentucky Colonel,I was glad to see the photo showing the old Maker's Mark distillery operation in Loretto,Kentucky.(WashPost,9/28/08 page P4 I visited Shandong Province and had a taste of the famous Chang Yu wine with good memory.
Francis Shieh a.k.a. Xie Shihao with a taste bud for the joy of red grape wine apropos of good health. Sept. 29, 2008 at 6.38 a.m.
Published by the Washington Post,Sept.27, 2008 on page D3: Next April 15, checks for billions of dollars will go out from the US Treasury to Citigroup,Bank of America et al. A token of gratitude for having done to create and sustain our innovative and efficient financial system.(sic) E-Mail: pearlsteins@washpost.com
As a Kentucky Colonel,I was glad to see the photo showing the old Maker's Mark distillery operation in Loretto,Kentucky.(WashPost,9/28/08 page P4 I visited Shandong Province and had a taste of the famous Chang Yu wine with good memory.
Francis Shieh a.k.a. Xie Shihao with a taste bud for the joy of red grape wine apropos of good health. Sept. 29, 2008 at 6.38 a.m.
Sunday, September 28, 2008
Sequel to happenings re Ideas matter for REAL ECONOMICS
Professor Robert Shiller of Yale published his article apropos of Financial theories. Robert Merton and Mron Scholes have been working to build better risk management systems but to little avail. John M. Keynes published "General Theory" in 1936 and Francis Shieh developed "Work and Study Cycle Theory" in 1978 for adult workers to continue their education in community colleges to be trained to supply the ever-changing market demand. It is especially valid in the evolving 21st century from empirical evidence i.e. more workers are reentering training programs to validate and implement such work and study cycle theory. A good theory should be useful and a bad theory may be discarded. (paoqi in Pin Yin) Thanks for your undestanding of an idea to be developed to a theory thereby to be valid and implemented.
Xie Shihao on Sunday,September 28, 2008 at 3.35 p.m.
Xie Shihao on Sunday,September 28, 2008 at 3.35 p.m.
"Financial Intelligence for IT Professionals" Numbers?
Karen Berman and Joe Knight published paperback with the title above at Harvard Business Press. 2008 $24.95 It is recommended even though it is a refresher for those who have had finance and economics courses already.
During the time of financial crisis,it would be timely to read such paperback for knowledge to spot assumptions,estimates and biases as educated guesstimates.
Cash Flow is the darling of Wall Street. Warren Buffett has been looking at cash all along becausde it is the number least affected by the art of finance. My comment: It is finesse as well in light of the drama being revealed nowadays.
Prof. Robert Shiller published a magnum opus in Washington Post,Sept.28,2008 page B1,B4 OUTLOOK Section. My comments are as follows:
Socio-Economics would mean the application of economics in a society to be evolving with ethics and morality as I sent my blogs in the past.
The title "The Evolution of American Capitalism" is over-simplified per se. We must know that pure market forces are not working in America and positive/negative externalities must be understood. All nations have both public and private sectors for the economy regardless of the so-called economic systems.
Prof. Richard T. Gill published textbooks with graphical presentations i.e. The demand and supply curves to correspond with the points of Production/Consumption Possible Curves to see the ideal situation of a society. Human behavior and lifestyle of the people must be taken into consideration to evaluate or predict the future success or failure of a nation. The present events in USA and in China may be witnessed in terms of the positive or negative sides of human nature. Morality and ethics of folks in the institutions should be stressed for contemporary society. Confidence should be promoted in education with faith in belief. Financial democracy would mean the education and training of leaders in finance to pursue the public interest with private interest as incentives. The right mix is the balance of both sectors to reach the optimum.
Francis Shieh a.k.a. Xie Shihao on Sunday,Sept.28, 2008 at 2 p.m.
During the time of financial crisis,it would be timely to read such paperback for knowledge to spot assumptions,estimates and biases as educated guesstimates.
Cash Flow is the darling of Wall Street. Warren Buffett has been looking at cash all along becausde it is the number least affected by the art of finance. My comment: It is finesse as well in light of the drama being revealed nowadays.
Prof. Robert Shiller published a magnum opus in Washington Post,Sept.28,2008 page B1,B4 OUTLOOK Section. My comments are as follows:
Socio-Economics would mean the application of economics in a society to be evolving with ethics and morality as I sent my blogs in the past.
The title "The Evolution of American Capitalism" is over-simplified per se. We must know that pure market forces are not working in America and positive/negative externalities must be understood. All nations have both public and private sectors for the economy regardless of the so-called economic systems.
Prof. Richard T. Gill published textbooks with graphical presentations i.e. The demand and supply curves to correspond with the points of Production/Consumption Possible Curves to see the ideal situation of a society. Human behavior and lifestyle of the people must be taken into consideration to evaluate or predict the future success or failure of a nation. The present events in USA and in China may be witnessed in terms of the positive or negative sides of human nature. Morality and ethics of folks in the institutions should be stressed for contemporary society. Confidence should be promoted in education with faith in belief. Financial democracy would mean the education and training of leaders in finance to pursue the public interest with private interest as incentives. The right mix is the balance of both sectors to reach the optimum.
Francis Shieh a.k.a. Xie Shihao on Sunday,Sept.28, 2008 at 2 p.m.
Power shifts from N.Y. to D.C. in USA
Washington Post,Sept.28,2008 page A3 for the above title.
James Parrott, Chief economist of the Fiscal Policy Institute said: "It may not be a bad thing that more decision-making rests with folks in Washington rather than New York." My comment: Political Economy is in evidence as cited in "Keys for Economic Understanding" www.Amazon.com online book for reference.
Professor Douglas Muzzio stated: "This mythology of the swash-buckling capitalist entrepreneur and trader, that may be damaged. They screwed up. And they are asking us to pay for their mistakes." Who are calling the shots? The folks with political and economic clouts,indeed! To me,all nations have private and public sectors but the optimal point of the mix is still being sought by leaders incessantly.
Page A20: As China's first spacewalk unfolds,anchors keep their cool. No banter or blather. No logos or slogans on-screen. Beijingers and Shanghainese watch live coverage of China's inaugural spacewalk mission. "Shenzhou 7 is saying hello to all the folks of China and people all over the world." China is making contribution for all humanity and the goal of China is to promote peace and economic development with endorsement from the United Nations. China is one of the permanent members of the Security Council of UN.
Since Shanghai will be the host for Expo 2010,all the products from all nations in the world will have exhibits in Shanghai. Power of Business may be shifted from Beijing to Shanghai,the cosmopolitan city with international investments in Shanghai's financial center in the 21st century.
Francis Shieh a.k.a. Xie Shihao,a native of Shanghai with teaching background in Beijing from 1993-1996. Sunday, September 28, 2008 at 10.30 a.m. EDST.
James Parrott, Chief economist of the Fiscal Policy Institute said: "It may not be a bad thing that more decision-making rests with folks in Washington rather than New York." My comment: Political Economy is in evidence as cited in "Keys for Economic Understanding" www.Amazon.com online book for reference.
Professor Douglas Muzzio stated: "This mythology of the swash-buckling capitalist entrepreneur and trader, that may be damaged. They screwed up. And they are asking us to pay for their mistakes." Who are calling the shots? The folks with political and economic clouts,indeed! To me,all nations have private and public sectors but the optimal point of the mix is still being sought by leaders incessantly.
Page A20: As China's first spacewalk unfolds,anchors keep their cool. No banter or blather. No logos or slogans on-screen. Beijingers and Shanghainese watch live coverage of China's inaugural spacewalk mission. "Shenzhou 7 is saying hello to all the folks of China and people all over the world." China is making contribution for all humanity and the goal of China is to promote peace and economic development with endorsement from the United Nations. China is one of the permanent members of the Security Council of UN.
Since Shanghai will be the host for Expo 2010,all the products from all nations in the world will have exhibits in Shanghai. Power of Business may be shifted from Beijing to Shanghai,the cosmopolitan city with international investments in Shanghai's financial center in the 21st century.
Francis Shieh a.k.a. Xie Shihao,a native of Shanghai with teaching background in Beijing from 1993-1996. Sunday, September 28, 2008 at 10.30 a.m. EDST.
Saturday, September 27, 2008
The Giants Get Bigger:WashPost,Sept.27,08
Page D1:
The world's largest banks are emerging even larger from the current financial crisis.
$12.84 trillion: Total assets of largest banks with significant operations in the US:
$3.50 trillion in total assets - Royal Bank of Scotland.
$2.35 trillion - HSBC.
$2.19 trillion - Citigroup.
$1.72 trillion - Bank of America
Readers would be invited to form own scenarios from the above data in the days to come to assess global economy apropos of the role of largest banks in the world.
Page D2: Photo of a Native American graces the flip side of American buffalo gold coins: The price of gold has risen in recent weeks. US Mint halts gold coin's sale due to higher demand but limited supply. My comment: First Americans were Asians according to American history hundreds years ago.
Phoenix CV shows Premier Wen's speech in Tianjin, China: World Economc Forum. (I attended Hautes Etudes in Tianjian from 1938-42)
The gist of his speech re China's economy is:
1. Innovation as the Guideline. Such focus was published in Richard Gill's Economics textbooks in 1970s. Cf. Amazon.com book catalog for reference.
2. Ethics and Morality with the teaching of Confucius, the teacher of teachers in China and Adam Smith,professor of Moral Philosophy in the Western economics.
Here we detect Sino-American Economics with common ground from the past to be stressed in the 21st century and beyond as I would envision.
Francis Shieh a.k.a. Xie Shihao,an octogenarian student of economic philosophy since my university days in early 1940s. September 27, 2008 at 7.20 p.m.
The world's largest banks are emerging even larger from the current financial crisis.
$12.84 trillion: Total assets of largest banks with significant operations in the US:
$3.50 trillion in total assets - Royal Bank of Scotland.
$2.35 trillion - HSBC.
$2.19 trillion - Citigroup.
$1.72 trillion - Bank of America
Readers would be invited to form own scenarios from the above data in the days to come to assess global economy apropos of the role of largest banks in the world.
Page D2: Photo of a Native American graces the flip side of American buffalo gold coins: The price of gold has risen in recent weeks. US Mint halts gold coin's sale due to higher demand but limited supply. My comment: First Americans were Asians according to American history hundreds years ago.
Phoenix CV shows Premier Wen's speech in Tianjin, China: World Economc Forum. (I attended Hautes Etudes in Tianjian from 1938-42)
The gist of his speech re China's economy is:
1. Innovation as the Guideline. Such focus was published in Richard Gill's Economics textbooks in 1970s. Cf. Amazon.com book catalog for reference.
2. Ethics and Morality with the teaching of Confucius, the teacher of teachers in China and Adam Smith,professor of Moral Philosophy in the Western economics.
Here we detect Sino-American Economics with common ground from the past to be stressed in the 21st century and beyond as I would envision.
Francis Shieh a.k.a. Xie Shihao,an octogenarian student of economic philosophy since my university days in early 1940s. September 27, 2008 at 7.20 p.m.
Wall Street Journal,Sept.27-28,2008
Page A15: Chavez bolsters links with Russia. Let us watch the developments.
Page A16: In financial crisis, metaphors fly like bad analogies. Perhaps English Rhetoric is required?! Americans do not seem to care English grammer.
Page A18: Prof. Cohen of University of California Law School in San Francisco said: "Are there unethical plaintiffs attorneys? Sure. And there are unethical defense atorneys as well." My comment: It is a matter of ethics and morality and the study of Confucianism would be very timely as sine qua non nowadays.
China could use Tort lawyers with more accountabilty.
Republicans and Democrats are equally likely to be the unfortunate victims of accidental harm. US and China share the same concern in Sino-American Economics.
Page B2: The US Mint quoted a price of $1,100 for the one ounce of gold coin. If the coin is half pound,it would mean 8 ounces for $8,800 if it is available. When collectors keep such then the price will be going up higher and higher in the future.
NYTimes Page B1,B4: Wachovia, looking for help, turns to Citigroup, the largest banking corporation in assets world-wide. I visited Citibank in Shanghai twice.
Francis Shieh a.k.a. Xie Shihao,the avid reader on daily basis.
Sept. 27, 2008 at 1.12 p.m.
October 1, 2008 will be the National Holiday in China. Folks in China will celebrate the founding of PRC since 1949.
Page A16: In financial crisis, metaphors fly like bad analogies. Perhaps English Rhetoric is required?! Americans do not seem to care English grammer.
Page A18: Prof. Cohen of University of California Law School in San Francisco said: "Are there unethical plaintiffs attorneys? Sure. And there are unethical defense atorneys as well." My comment: It is a matter of ethics and morality and the study of Confucianism would be very timely as sine qua non nowadays.
China could use Tort lawyers with more accountabilty.
Republicans and Democrats are equally likely to be the unfortunate victims of accidental harm. US and China share the same concern in Sino-American Economics.
Page B2: The US Mint quoted a price of $1,100 for the one ounce of gold coin. If the coin is half pound,it would mean 8 ounces for $8,800 if it is available. When collectors keep such then the price will be going up higher and higher in the future.
NYTimes Page B1,B4: Wachovia, looking for help, turns to Citigroup, the largest banking corporation in assets world-wide. I visited Citibank in Shanghai twice.
Francis Shieh a.k.a. Xie Shihao,the avid reader on daily basis.
Sept. 27, 2008 at 1.12 p.m.
October 1, 2008 will be the National Holiday in China. Folks in China will celebrate the founding of PRC since 1949.
Be happy and worry-free with wit and humor
Life is ever-changing and I keep finding new and improved ways to manage it. There is comfort in knowing that tomorrow will bring new things. Stay receptive with surprises plus cheer and upbeat. I focus on staying healthy with effect on my feelings in mental and physical conditions. In the fast-paced world for self-titled xiaohuozi( i.e. rejuvenated octogenarians) I keep repeating,"I can handle it." with equanimity. Dealing with dearest folks, I can develop emotional intelligence in harmony. My heart is filled with laughter and good times of retirement. Get busy with my sense of inner balance with equilibrium in economics.
I have been a gypsy learner for research and brainstorming to be proficient with inspiration. I expect to be motivated in the process of learning and practicing with indomitable willpower. I can be swept into the swing of things to meet new folks for interesting encounters. I have the feeling that the world is just responding to the thought of magnetism. Let bygones be bygones(Ji wang bu jiu,rang guoqude shi guoqu le ba in Pin Yin) with dim memory and start new life with vigor and fortitude. Everyday is a new day to start a novel chapter in my life.
The above is my state of mind,today,tomorrow and in the days to come.
Francis Shieh a.k.a. Xie Shihao, a student of economic philosophy of life ad infinitum. Sino-American Economics of Theoretical Equilibrium(sic) Hehehahahoho all the way and we shall live to be centenarians. Amen!
Sept. 27, 2008 at 10.52 a.m.
I have been a gypsy learner for research and brainstorming to be proficient with inspiration. I expect to be motivated in the process of learning and practicing with indomitable willpower. I can be swept into the swing of things to meet new folks for interesting encounters. I have the feeling that the world is just responding to the thought of magnetism. Let bygones be bygones(Ji wang bu jiu,rang guoqude shi guoqu le ba in Pin Yin) with dim memory and start new life with vigor and fortitude. Everyday is a new day to start a novel chapter in my life.
The above is my state of mind,today,tomorrow and in the days to come.
Francis Shieh a.k.a. Xie Shihao, a student of economic philosophy of life ad infinitum. Sino-American Economics of Theoretical Equilibrium(sic) Hehehahahoho all the way and we shall live to be centenarians. Amen!
Sept. 27, 2008 at 10.52 a.m.
Any comments re views of economists?
1.Frederic Mishkin said: "If nothing is done, the potential for these markets to seize up in a big way is definitely there. When you look at the history of these crises, when things spin out of control, the cost to fix it later goes up exponentially." He endorses the judgment of Paulson and Bernanke.
2.Alan Blinder said: "The plan is a trickle-down approach from banks to Main Street,but if you reduce the flood of foreclosures and defaults - which he would have the government do by buying loans directly and then renegotiating the terms - it will make mortgage backed securities worth more." He totally disagree that this needs to be done this week. It is more important to get it right."
3.Joseph Stiglitz said: "If only enough money is provided to financial markets,the problem will disappear,but that does nothing to address the fundamental problem of bleeding foreclosures and the holes in the balance sheets of banks."
4.Glenn Hubbard said: "The root of the issue is recapitalizing banks. That could be done more efficiently through the government injection of preferred equity. Then the market could figure out the prices of the assets."
5.Greg Mankiw wrote: "The premise appears to be that the market is irrationally pessimistic,that might be so. Nonetheless, one has to be at least a bit skeptical about the idea that government policy gambling with other people's money are better at judging the value of complex financial instruments than are private investors gambling with their own."
6.John Cochrane and some economists fault the Bush administration and Congress for moving so quickly on the bailout package without allowing more time for debate. That sentiment was reflected in the petition.
7.Simon Johnson said: "You only show up if you can win, and this is not that package. This cannot be the ultimate,decisive solution if you are not addressing the underlying cause."
8.Myron Scholes said: "I would like to see how they see the evolution of an end game. There are still many questions. How long the government holds the assets and how they are later resold would be the keys to determining whether the plan works."
My comment: The above are the "varied-hands" of economists in the light vein with humor.("Ba xian guo hai" in Pin Yin for fun i.e. eight celestial being crossing the sea) The final outcome may take weeks,months or years to see the empirical evidence. I said.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics to learn from the views of other economists. Sept. 27, 2008 at 7.16 a.m.
2.Alan Blinder said: "The plan is a trickle-down approach from banks to Main Street,but if you reduce the flood of foreclosures and defaults - which he would have the government do by buying loans directly and then renegotiating the terms - it will make mortgage backed securities worth more." He totally disagree that this needs to be done this week. It is more important to get it right."
3.Joseph Stiglitz said: "If only enough money is provided to financial markets,the problem will disappear,but that does nothing to address the fundamental problem of bleeding foreclosures and the holes in the balance sheets of banks."
4.Glenn Hubbard said: "The root of the issue is recapitalizing banks. That could be done more efficiently through the government injection of preferred equity. Then the market could figure out the prices of the assets."
5.Greg Mankiw wrote: "The premise appears to be that the market is irrationally pessimistic,that might be so. Nonetheless, one has to be at least a bit skeptical about the idea that government policy gambling with other people's money are better at judging the value of complex financial instruments than are private investors gambling with their own."
6.John Cochrane and some economists fault the Bush administration and Congress for moving so quickly on the bailout package without allowing more time for debate. That sentiment was reflected in the petition.
7.Simon Johnson said: "You only show up if you can win, and this is not that package. This cannot be the ultimate,decisive solution if you are not addressing the underlying cause."
8.Myron Scholes said: "I would like to see how they see the evolution of an end game. There are still many questions. How long the government holds the assets and how they are later resold would be the keys to determining whether the plan works."
My comment: The above are the "varied-hands" of economists in the light vein with humor.("Ba xian guo hai" in Pin Yin for fun i.e. eight celestial being crossing the sea) The final outcome may take weeks,months or years to see the empirical evidence. I said.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics to learn from the views of other economists. Sept. 27, 2008 at 7.16 a.m.
Friday, September 26, 2008
Wall St.Journal,USA Today,WashTimes, NYTimes:Sept.26,08
WSJ,Sept.26,08 Page A1: Bailout negotiation in disarray. $700 billion proposal hits stalemate. Dramatic gesture by Paulson.Headlines! USAToday Page 1B: 78% of Americans are for bailout with changes.
China launched a 3-Man crew into space(Shenzhou 7) including one astronaut who will make China's lst spacewalk.
Washington Times 9/26 page A19 with photo: Most challenging mission of China.
Page A26: Editorial- Slouching toward Socialism and Fear-conomics. Cute Headings!
Page A18: Inflation is back - rising prices are duke to an increase in the quantity of money and credit, the essential responsibility of the FED. My comment: MV=PQ may be reviewed for such happenings nowadays.
Solid Gold has doubled the value as the most reliable indicator of monetary mischief. Almost $900 an ounce but rise more in the days to come.
Page B1: GM's car sales slide in China. Toyota,Honda zoom ahead as buyers concentrate on fuel economy and uality. - Problems are remarkably similar to those it faces in the USA: A less than stellar reputation among consumers for fuel efficiency and vehible quality. I have been driving Honda and Toyota for the same reason.
Page B4: China deals extend global push seeking foreign resources firms to maintain economic growth.
Page C6: Church of England Archbishop and German Minister of Finance attack jointly on financiers in USA. (Bank robbers to get short-term profit) as published.
NYTimes A15: China sends 3 into space with photo and Chinese characters.
Page B36 Japanese Kanji i.e. Hanzi in Pin Yin re Chinese characters are found for World Culture of Art. Chinese language is a form of art(calligraphy) and music(tones)
Francis Shieh a.k.a. Xie Shihao,a student of Economics and Chinese language on Sept.26, 2008
China launched a 3-Man crew into space(Shenzhou 7) including one astronaut who will make China's lst spacewalk.
Washington Times 9/26 page A19 with photo: Most challenging mission of China.
Page A26: Editorial- Slouching toward Socialism and Fear-conomics. Cute Headings!
Page A18: Inflation is back - rising prices are duke to an increase in the quantity of money and credit, the essential responsibility of the FED. My comment: MV=PQ may be reviewed for such happenings nowadays.
Solid Gold has doubled the value as the most reliable indicator of monetary mischief. Almost $900 an ounce but rise more in the days to come.
Page B1: GM's car sales slide in China. Toyota,Honda zoom ahead as buyers concentrate on fuel economy and uality. - Problems are remarkably similar to those it faces in the USA: A less than stellar reputation among consumers for fuel efficiency and vehible quality. I have been driving Honda and Toyota for the same reason.
Page B4: China deals extend global push seeking foreign resources firms to maintain economic growth.
Page C6: Church of England Archbishop and German Minister of Finance attack jointly on financiers in USA. (Bank robbers to get short-term profit) as published.
NYTimes A15: China sends 3 into space with photo and Chinese characters.
Page B36 Japanese Kanji i.e. Hanzi in Pin Yin re Chinese characters are found for World Culture of Art. Chinese language is a form of art(calligraphy) and music(tones)
Francis Shieh a.k.a. Xie Shihao,a student of Economics and Chinese language on Sept.26, 2008
Thursday, September 25, 2008
NASA at 50: In search of the next frontier
Washington Post,Sept.25,08 Page G1,G7: Space inspires passion and practicality in China: Moon and Mars are on the wall of Ouyang in Beijing. Both pictures were shot from US Satellites. He is the project's chief scientist and is one of China's most passionate supporters of lunar exploration. Lunar calendar is being observed in China and Korea as well from cultural tradition. For example,Mid-Autumn Festival on August 15th happened to be September 14, 2008 as per Gregorian calendar.
Chinese astronauts will attempt their first ever spacewalk as early as this week. Americans and Russians surpassed these scientific feats decades ago.
NASA's 2008 budget of $17.3 billion. China's budget is expected to grow steadily in coming years as China's economy continues to expand. China is developing a comprehensive, long-term space strategy through 2050, that will help promote and develop China's economy, technology and other interests. It is reported by media that Asians and Latinos will be the majority Americans in USA in 2050. However,that is yet to be proven in the years to come. Here is another scene of Sino-American Economics. Francis Shieh a.k.a. Xie Shihao on Thursday,Sept.25, 2008 at 9.25 p.m.
Chinese astronauts will attempt their first ever spacewalk as early as this week. Americans and Russians surpassed these scientific feats decades ago.
NASA's 2008 budget of $17.3 billion. China's budget is expected to grow steadily in coming years as China's economy continues to expand. China is developing a comprehensive, long-term space strategy through 2050, that will help promote and develop China's economy, technology and other interests. It is reported by media that Asians and Latinos will be the majority Americans in USA in 2050. However,that is yet to be proven in the years to come. Here is another scene of Sino-American Economics. Francis Shieh a.k.a. Xie Shihao on Thursday,Sept.25, 2008 at 9.25 p.m.
Wall Street Journal and NY Times Sept.25,08
Page A1: Bailout Pact Gains Momentum. But I heard from the Radio that agreement had been reached as of 1.40 p.m. on Sept.25th so it will be a matter of time when such plan becomes law. Maybe this weekend or next week? Let us see the headlines in media.
Page A12: China aims to display prowness with spacewalk: China sees mission as image-builder at home and abroad. That is not untrue. However,such success will be the achievement for humanity and China is willing to cooperate with USA in space science research for mutual benefit. Headlines in the next few days world-wide. I bet.
Page A14: Chavez doubles value of Joint Investment Fund with China i.e. $12 billion in capital. Oil to China will be in the making.
NYTimes Page C14: Sources from Central Banks in Asia:
Estimates of the interest that China earns on its $1.8 trillion in foreign exchange reserve range from $13 billion to $18 billion a quarter. Food for thoughts about China's influence with such large amount of foreign exchange reserves. The reader can be the analyst and have your own scenario re the financial clout of China.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of Sino-American Economics.
Sept. 25, 2008 at 3 p.m.
Page A12: China aims to display prowness with spacewalk: China sees mission as image-builder at home and abroad. That is not untrue. However,such success will be the achievement for humanity and China is willing to cooperate with USA in space science research for mutual benefit. Headlines in the next few days world-wide. I bet.
Page A14: Chavez doubles value of Joint Investment Fund with China i.e. $12 billion in capital. Oil to China will be in the making.
NYTimes Page C14: Sources from Central Banks in Asia:
Estimates of the interest that China earns on its $1.8 trillion in foreign exchange reserve range from $13 billion to $18 billion a quarter. Food for thoughts about China's influence with such large amount of foreign exchange reserves. The reader can be the analyst and have your own scenario re the financial clout of China.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of Sino-American Economics.
Sept. 25, 2008 at 3 p.m.
Sorry about typo error. Should be "Warn" instead of "warm"
Bernanke Warns of 'Grave Threat' to U.S. Economy.
For second thought,perhaps Bernanke warms up to fight for the passage of the proposal.(sic) It is getting cool now in the Fall. This is supposed to be my timely alibi with a wee bit sense of humor(sic). Francis Shieh a.k.a. Xie Shihao,a poor student in typing but rich in my spirituality with daily faith,hope and LOVE. Sept.25,2008 at 11.55 a.m.
For second thought,perhaps Bernanke warms up to fight for the passage of the proposal.(sic) It is getting cool now in the Fall. This is supposed to be my timely alibi with a wee bit sense of humor(sic). Francis Shieh a.k.a. Xie Shihao,a poor student in typing but rich in my spirituality with daily faith,hope and LOVE. Sept.25,2008 at 11.55 a.m.
Bernanke Warms of grave threat to US economy
Washington Post Sept. 25, 2008 page D1. But Peter Orszag, the director of the Congressional Budget Office, testified that the proposed bailout could actually worsen the crisis by revealing more troubled assets on companies' books. Readers must read both views and make up your own mind. Nobody knows for sure until empirical evidence comes out in the days, weeks, months or even years.
"With photo of Lawrence H. Summers as the successor to Henry Paulson Jr. after January 20, 2009. Summers was Treasury Secretary from 1999 to 2001. A top economist with a penchant for controversial remarks, making him a long shot,Washington insiders say. Is he open to returning to the Treasury?"
I published an article apropos of Purchasing Power Parity in the Atlantic Economic Journal in 1980s and I found an article by Summers with the same rationale couple years ago. Such coincidence would be the search of searches in learning economics.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics from Shanghai,China in 1947. Sept. 25, 2008 at 11.42 a.m.
"With photo of Lawrence H. Summers as the successor to Henry Paulson Jr. after January 20, 2009. Summers was Treasury Secretary from 1999 to 2001. A top economist with a penchant for controversial remarks, making him a long shot,Washington insiders say. Is he open to returning to the Treasury?"
I published an article apropos of Purchasing Power Parity in the Atlantic Economic Journal in 1980s and I found an article by Summers with the same rationale couple years ago. Such coincidence would be the search of searches in learning economics.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics from Shanghai,China in 1947. Sept. 25, 2008 at 11.42 a.m.
Reflections on Stir-Fried Pork with Bok Choy et al
Washington Post,Sept. 24,2008 Recipes for Jewish New Year: Rosh Hashanah - Chef on Call on FOOD section as Headlines. My comment: Food is sine qua non for all folks on earth to stay alive regardless of race,color, age and national origin.
"Bok Choy" is the Cantonese pronunciation for White Veggie(Cabbage in Chinese) The phonetic equivalent in Pin Yin should be "Bai Cai" Cf. "A Glimpse of the Chinese Language" available free of charge from www.rand.org PDF as a public service if interested in the Chinese language with official phonetic equivalents in Pin Yin.
On page H8: Russian cuisine: Wild about mushrooms in Russia as a special culture. I visited Jiju Island in Korea(across from Shanghai with tourism from Shanghai to Jiju) and discovered the largest black mushrooms. Chinese folks eat black mushrooms but I eat white mushrooms as well. To me,mushrooms are mushrooms regardless of the color as long as it is food with nutritional value. I do have cosmopolitan outlook as a former resident of Shanghai,a cosmopolitan city to be the host of Expo 2010 that I would like to witness to open my eyes for all the products from all nations in the world.
Francis Shieh a.k.a. Xie Shihao, a native of Shanghai since 1926 with thoughts of One World and One Human Race to endorse globalization for peace and economic development as the ideal of good folks on our good earth. Sept, 25, 2008 at 7 a.m.
"Bok Choy" is the Cantonese pronunciation for White Veggie(Cabbage in Chinese) The phonetic equivalent in Pin Yin should be "Bai Cai" Cf. "A Glimpse of the Chinese Language" available free of charge from www.rand.org PDF as a public service if interested in the Chinese language with official phonetic equivalents in Pin Yin.
On page H8: Russian cuisine: Wild about mushrooms in Russia as a special culture. I visited Jiju Island in Korea(across from Shanghai with tourism from Shanghai to Jiju) and discovered the largest black mushrooms. Chinese folks eat black mushrooms but I eat white mushrooms as well. To me,mushrooms are mushrooms regardless of the color as long as it is food with nutritional value. I do have cosmopolitan outlook as a former resident of Shanghai,a cosmopolitan city to be the host of Expo 2010 that I would like to witness to open my eyes for all the products from all nations in the world.
Francis Shieh a.k.a. Xie Shihao, a native of Shanghai since 1926 with thoughts of One World and One Human Race to endorse globalization for peace and economic development as the ideal of good folks on our good earth. Sept, 25, 2008 at 7 a.m.
Wednesday, September 24, 2008
Prof. Aggarwal of Georgetown University
A finance professor said "If the budget deficit grows, that means the government has to borrow more money and there is a lot more demand for capital because the budget deficit has to be financed. Non-Government entitles are also competing for the same capital." Published by The Washington Post, Sept. 24, 2008 Page D3.
My comment: I would address such as "crowding out" situation since both the public sector and the private sector are competing for financial capital resulting higher interest rates. Here we can see the working of supply and demand curves and the debt goes up. Higher interest rates would hit the profits causing sagging plans for retirement accounts. Such cycle tends to be negative in terms of the economy.
Professor Wachter at the University of Pennsylvaia Wharton School said: " The macro level would involve job loss leading to a deep recession. The intervention of Bush administration is an effort to turn that around." President Bush's speech at 9 p.m. would stress such rationale. Such scenario was envisioned in "Keys for Economic Understanding". Cf. www.Amazon.com online for reference.
Francis Shieh a.k.a. Xie Shihao sends this blog at 8.30 p.m. on September 24, 2008.
My comment: I would address such as "crowding out" situation since both the public sector and the private sector are competing for financial capital resulting higher interest rates. Here we can see the working of supply and demand curves and the debt goes up. Higher interest rates would hit the profits causing sagging plans for retirement accounts. Such cycle tends to be negative in terms of the economy.
Professor Wachter at the University of Pennsylvaia Wharton School said: " The macro level would involve job loss leading to a deep recession. The intervention of Bush administration is an effort to turn that around." President Bush's speech at 9 p.m. would stress such rationale. Such scenario was envisioned in "Keys for Economic Understanding". Cf. www.Amazon.com online for reference.
Francis Shieh a.k.a. Xie Shihao sends this blog at 8.30 p.m. on September 24, 2008.
Wall Street Journal, NY Times,USA Today,Sept.24,2008
WSJ 9/24 page A1: "Got Milk? Chinese crisis crates a market for human alternatives. As a secretary,she got RMB1,000 a month but she can earn RMB12,000 each month as a wet nurse. My comment: That is women's bonus for such ability and men are unable to render such service. This is not discrimination but physical body of two genders.
Page C2: Headline: Concern range from the global economy and a fast-weakening Chinese property market to head scratching over how the government scrambles. Housing prices in China would be lowered as the result of a slow economy.
New York Times: E-mail: nytimes.com/economix
Page C1: Economix - a blog that looks at Economics as a framework for thinking about everyday life. I support for such reasoning in my past blogs.
USA Today,9/24 Page A1:
Senator Bunning from Kentucky: "This massive bailout is not a solution, it is financial socialism and it's un-american."
My comment: It is financial socio-economics in USA and it is definitely American since such plan is designed by American Secretary of Treasury and Chairman of Federal Reserve System of USA. Francis Shieh,Kentucky Colonel,USA.
Washington Times 9/24/08 page A17:
Venezuelan President Chavez said: "China is showing the world that it isn't necessary to harm anyone to be a great power. They are soldiers of peace." He visited Beijing and said "Beijing is more important than the UN General Assembly." My comment: China is a member of the Security Council of the United Nations.
Francis Shieh a.k.a. Xie Shihao,a blogger for Sino-American Economics as public service to the readers at www.Blogger.com Sept. 24, 2008 at 3.25 p.m.
Page C2: Headline: Concern range from the global economy and a fast-weakening Chinese property market to head scratching over how the government scrambles. Housing prices in China would be lowered as the result of a slow economy.
New York Times: E-mail: nytimes.com/economix
Page C1: Economix - a blog that looks at Economics as a framework for thinking about everyday life. I support for such reasoning in my past blogs.
USA Today,9/24 Page A1:
Senator Bunning from Kentucky: "This massive bailout is not a solution, it is financial socialism and it's un-american."
My comment: It is financial socio-economics in USA and it is definitely American since such plan is designed by American Secretary of Treasury and Chairman of Federal Reserve System of USA. Francis Shieh,Kentucky Colonel,USA.
Washington Times 9/24/08 page A17:
Venezuelan President Chavez said: "China is showing the world that it isn't necessary to harm anyone to be a great power. They are soldiers of peace." He visited Beijing and said "Beijing is more important than the UN General Assembly." My comment: China is a member of the Security Council of the United Nations.
Francis Shieh a.k.a. Xie Shihao,a blogger for Sino-American Economics as public service to the readers at www.Blogger.com Sept. 24, 2008 at 3.25 p.m.
President Bush advocates his goal of fighting terrorism
Washington Post,Sept. 24, 2008 on page A1 and A8:
Bush Reaches out to U.N.- Terrorism is the goal to fight for USA. I believe that such goal is China's goal and other nations as well. Peace is the goal of all folks in all nations and any senseless killing is not human decency and is not in line with any religion in the world. I am sure member nations of the United Nations would share the same rationale.
Francis Shieh a.k.a. Xie Shihao,an octogenarian who pursues the goal of peace and economic development for Sino-American Economics of Peace and Development.
September 24, 2008 at 7 a.m.
Bush Reaches out to U.N.- Terrorism is the goal to fight for USA. I believe that such goal is China's goal and other nations as well. Peace is the goal of all folks in all nations and any senseless killing is not human decency and is not in line with any religion in the world. I am sure member nations of the United Nations would share the same rationale.
Francis Shieh a.k.a. Xie Shihao,an octogenarian who pursues the goal of peace and economic development for Sino-American Economics of Peace and Development.
September 24, 2008 at 7 a.m.
Tuesday, September 23, 2008
A New Showcase for Abe Lincoln:WashPost 9/23/08
Washington Post,Sept.23, 2008 page B4:
Jim Rubin, playing President Abraham Lincoln, joins US Mint Director Ed Moy at the Lincoln Memorial for the unveiling of four penny designs to mark the 2009 bicentennial of Lincoln's birth.
The tails side of the coins will highlight aspects of the 16th president's life: his birth in Kentucky in 1809, his formative years in Indiana, his professional life in Illinois and his years as president in Washington.
Such history reminds me of my commission as a Kentucky Colonel in 1970 and my relatives in Indiana with fond memories in the past years.
Page F3: Common Interests of bike riders in US for wellness: "I wanna go for a ride" sponsored by Washington Area Bicyclist Association.
Another American Revolution: Strap on your helmet and start pedaling. Don't worry about cars with photo of all bike riders.
Premier Wen arrived in New York for UN Conference with thousands of well-wishers as seen on Phoenix TV. Prime Minister Wen gave a speech to stress China's intent to be cooperative and be a friend of the United States and other nations as well. Such rationale is similar to my blogs in the past for mutual benefit of two great nations on both sides of the Pacific Ocean.
Francis Shieh a.k.a. Xie Shihao on Tuesday,Sept. 23, 2008 at 6.50 p.m.
Jim Rubin, playing President Abraham Lincoln, joins US Mint Director Ed Moy at the Lincoln Memorial for the unveiling of four penny designs to mark the 2009 bicentennial of Lincoln's birth.
The tails side of the coins will highlight aspects of the 16th president's life: his birth in Kentucky in 1809, his formative years in Indiana, his professional life in Illinois and his years as president in Washington.
Such history reminds me of my commission as a Kentucky Colonel in 1970 and my relatives in Indiana with fond memories in the past years.
Page F3: Common Interests of bike riders in US for wellness: "I wanna go for a ride" sponsored by Washington Area Bicyclist Association.
Another American Revolution: Strap on your helmet and start pedaling. Don't worry about cars with photo of all bike riders.
Premier Wen arrived in New York for UN Conference with thousands of well-wishers as seen on Phoenix TV. Prime Minister Wen gave a speech to stress China's intent to be cooperative and be a friend of the United States and other nations as well. Such rationale is similar to my blogs in the past for mutual benefit of two great nations on both sides of the Pacific Ocean.
Francis Shieh a.k.a. Xie Shihao on Tuesday,Sept. 23, 2008 at 6.50 p.m.
Investor's Business Daily,Sept. 23, 2008
Page A1: Uncommon Knowledge: Crony Capitalism(to be precise) is root cuse of Fannie and Freddie troubles.
Democrats in Congress: a crisis of capitalism in socialist financier George Soros' phrase, and a failure to regulate our markets sufficiently. My comment: It is the combo or mix of two sectors,namely the private sector and the public sector.
The private sector may generate greed as the negative side of human behavior without ethics and morality in the minds of the predators. Where is the optimal point? Economists are still searching in the graphs! I believe that philosophy of the lifestyle should be instilled in the minds of the leaders with financial clout apropos of Mortality!
Page A2: G-7 welcomes US bailouit plan: "We pledge to enhance international cooperation to address the on-going challenges in the global economy and world markets. I endorse such statement 100% since globalization requires viable markets with stability.
Francis Shieh a.k.a. Xie Shihao,a learner in economics and philosophy to be a disciple of Adam Smith,a philosopher and an economist. Sept. 23, 2008 at 2.42 p.m.
Democrats in Congress: a crisis of capitalism in socialist financier George Soros' phrase, and a failure to regulate our markets sufficiently. My comment: It is the combo or mix of two sectors,namely the private sector and the public sector.
The private sector may generate greed as the negative side of human behavior without ethics and morality in the minds of the predators. Where is the optimal point? Economists are still searching in the graphs! I believe that philosophy of the lifestyle should be instilled in the minds of the leaders with financial clout apropos of Mortality!
Page A2: G-7 welcomes US bailouit plan: "We pledge to enhance international cooperation to address the on-going challenges in the global economy and world markets. I endorse such statement 100% since globalization requires viable markets with stability.
Francis Shieh a.k.a. Xie Shihao,a learner in economics and philosophy to be a disciple of Adam Smith,a philosopher and an economist. Sept. 23, 2008 at 2.42 p.m.
Washington Post,Sept. 23,2008 page A12
Aso Chosen to lead Japan. Ruling party stalwart faces economic, political troubles
Tokyo: TARO ASO , a former foreign minister who delivers snappy speeches, reads mangacomics and talks tough about China, was selcted to be Japan's next prime minister.
He has warned about the dangers of secretive Chinese military spending, but he also reassured China that he would not view with hostility that country's economic development. China is Japan's biggest trading partner.
"It is the Economy." Smart Aso! His name sounds like: Is that so? His first name sounds to mean "overly revealing/outspoken" in phonetic Chinese with humor. His first name and last name appear to dovetail his personal character in the light vein with such coincidence. I was forced to study Japanese after Pearl Harbor after December 8, 1941 at Hautes Etudes in Tianjin, China.
Francis Shieh a.k.a. Xie Shihao on Tuesday,Sept. 23, 2008 at 1.22 p.m.
Tokyo: TARO ASO , a former foreign minister who delivers snappy speeches, reads mangacomics and talks tough about China, was selcted to be Japan's next prime minister.
He has warned about the dangers of secretive Chinese military spending, but he also reassured China that he would not view with hostility that country's economic development. China is Japan's biggest trading partner.
"It is the Economy." Smart Aso! His name sounds like: Is that so? His first name sounds to mean "overly revealing/outspoken" in phonetic Chinese with humor. His first name and last name appear to dovetail his personal character in the light vein with such coincidence. I was forced to study Japanese after Pearl Harbor after December 8, 1941 at Hautes Etudes in Tianjin, China.
Francis Shieh a.k.a. Xie Shihao on Tuesday,Sept. 23, 2008 at 1.22 p.m.
Firms too big to fail may grow stronger:WashPost 9.23
Page D1 with photo of Citibank: Bank giants such as Citigroup, unlike small competitors, have an advantage: The government doesn't want them to go under. My comment: It makes sense. The bigger bank is the one that has financial clout to be respected by any government on earth in all practical way! I visited Citibank in Shanghai,China to find out such influence there as well.
Page D7: Germany to limit aid to China:
Germany said it plans to stop financing development projects in China and concentrate on an advisory role in areas such as climate protection. Germany paid almost $100 million in development aid to China in 2007 but has made no pledges for this year or next.
Several lawmakers have argued this year that China, a fast-rising economic power, no longer needs German economic aid, particularly as Berlin keeps a close eye on spending as it tries to balance its budget.
Hong Kong Phoenix TV reported that the Minister of Science and Technology would like to cooperate with China for space projects after China has launched a spacecraft No. 7 with man walking in the moon soon.
Francis Shieh a.k.a. Xie Shihao, a watcher of Sino-American Economics with reference to Germany as a point re globalization.
Sept. 23, 2008 at 1.05 p.m.
Page D7: Germany to limit aid to China:
Germany said it plans to stop financing development projects in China and concentrate on an advisory role in areas such as climate protection. Germany paid almost $100 million in development aid to China in 2007 but has made no pledges for this year or next.
Several lawmakers have argued this year that China, a fast-rising economic power, no longer needs German economic aid, particularly as Berlin keeps a close eye on spending as it tries to balance its budget.
Hong Kong Phoenix TV reported that the Minister of Science and Technology would like to cooperate with China for space projects after China has launched a spacecraft No. 7 with man walking in the moon soon.
Francis Shieh a.k.a. Xie Shihao, a watcher of Sino-American Economics with reference to Germany as a point re globalization.
Sept. 23, 2008 at 1.05 p.m.
Doubts on rescue plan spur fall in Dollar, Leap for Oil
Wall Street Journal,Sept.23,08: Page A1 Headlines.
Page C7: China shares lead Asian rally. Moves by China boost prices,eye on US bailout.
China's benchmark stock-market index jumped 7.8% Monday as China took more steps to shore up domestic shares.
Shanghai:" The gains in the benchmark composite index to 2236.41, came as China offered another carrot to investors eased restrictionns on share buybacks."
Page C7: China shares lead Asian rally. Moves by China boost prices,eye on US bailout.
China's benchmark stock-market index jumped 7.8% Monday as China took more steps to shore up domestic shares.
Shanghai:" The gains in the benchmark composite index to 2236.41, came as China offered another carrot to investors eased restrictionns on share buybacks."
Monday, September 22, 2008
Government Economists are needed in USA/China
Several decades ago,I was a member of the Society of Government Economists as a Senior Economist with the US Department of Labor in the summer of 1965.
Supporting the development of public policy such as job creation and training,a Government Economist is expected in creating a prosperous and a peaceful society. Acting as a key technical resource, I had the opportuknity to work on the sustainable development plan to advise the government on maximising the benefits of fesible studies, to monitor the performance of public agencies and provide regular briefing on macroeconomic and budgetary developments with tenacity and ethics.
Such Economist's role is to be actively stimulates both private sector development and public sector reform, while shaping the priority programs for outsourcing, parastatalisation and privatisation with rigor: the analytical significance resulted the publication of "Keys for Economic Understanding." www.Amazon.com for reference.
Naturally, the economist had to bring sound public policy experience at national or regional level, giving expert understanding or strategic planning, expenditure management, macroeconomic and microeconomic policy,(such as work and study) and financial forecasting. Equally importantly, a strong command of a foreign language would be desirable plus an appropriate postgraduate qualification and real interest in the evolutionary economics of developing nations.
The above job description is what I remember for such assignment many decades ago.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China in 1947 and earned a graduate degree from Georgetown University, Washington, D.C. in 1950 with my dissertation entitled "Work and Study Cycle Theory" listed at Georgetown University Library online catalog for reference.
September 22, 2008 at 8.40 p.m.
Supporting the development of public policy such as job creation and training,a Government Economist is expected in creating a prosperous and a peaceful society. Acting as a key technical resource, I had the opportuknity to work on the sustainable development plan to advise the government on maximising the benefits of fesible studies, to monitor the performance of public agencies and provide regular briefing on macroeconomic and budgetary developments with tenacity and ethics.
Such Economist's role is to be actively stimulates both private sector development and public sector reform, while shaping the priority programs for outsourcing, parastatalisation and privatisation with rigor: the analytical significance resulted the publication of "Keys for Economic Understanding." www.Amazon.com for reference.
Naturally, the economist had to bring sound public policy experience at national or regional level, giving expert understanding or strategic planning, expenditure management, macroeconomic and microeconomic policy,(such as work and study) and financial forecasting. Equally importantly, a strong command of a foreign language would be desirable plus an appropriate postgraduate qualification and real interest in the evolutionary economics of developing nations.
The above job description is what I remember for such assignment many decades ago.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China in 1947 and earned a graduate degree from Georgetown University, Washington, D.C. in 1950 with my dissertation entitled "Work and Study Cycle Theory" listed at Georgetown University Library online catalog for reference.
September 22, 2008 at 8.40 p.m.
Consumers cut health spending:WSJ,Sept.22,08
Wall Street Journal,Sept.22, 2008 page A1: Consumers cut health spending as economic downturn takes tolls. Cash-strapped patients skip the pills or take half doses. (My physician advised me to take half dose due to lowering blood pressure as the result of inner peace and happiness with upbeat as my attitude in life)
Page A4: Baby boomers delay retirement -due to decline in assets that force a generation to face new reality.
Page A3: China's banks may be in better shape to weather the storm. (Chinese frugal lifestyle under the influence of Confucianism may be the reason for higher savings rate as known to the world. Cf. Professor Ferguson's article in Washington Post,Sunday, Sept. 21, 2008 Outlook Section as I sent my blog to that effect.
Bank of China and China Construction Bank have big cash hoards and have suffered only minor hits from collapse of Fannie Mae, Freddie Mac and Lehman Brothers Holdings.
Page A21: The GOP leads a 'Socialist' bailout as written by Lanny David, a counsel to President Clinton,1996-98.
Page B1: Stores plan for weak holiday sales. Retailers respond to shaky economy with earlier ads, fewer seasonal workers.RIF i.e. reduction in force!
Page C2: Chinese officials have already said they view gold as a strategic asset and would like to diversify their foreign exchange reserves away from the Dollar. Impact to USA if such news is true?
Consumers feel poorer- USA Today,Sept. 22, 2008 page 1B. Such situation is not unexpected.
Francis Shieh a.k.a. Xie Shihao on Monday, Sept. 22, 2008 at 4.10 p.m.
Page A4: Baby boomers delay retirement -due to decline in assets that force a generation to face new reality.
Page A3: China's banks may be in better shape to weather the storm. (Chinese frugal lifestyle under the influence of Confucianism may be the reason for higher savings rate as known to the world. Cf. Professor Ferguson's article in Washington Post,Sunday, Sept. 21, 2008 Outlook Section as I sent my blog to that effect.
Bank of China and China Construction Bank have big cash hoards and have suffered only minor hits from collapse of Fannie Mae, Freddie Mac and Lehman Brothers Holdings.
Page A21: The GOP leads a 'Socialist' bailout as written by Lanny David, a counsel to President Clinton,1996-98.
Page B1: Stores plan for weak holiday sales. Retailers respond to shaky economy with earlier ads, fewer seasonal workers.RIF i.e. reduction in force!
Page C2: Chinese officials have already said they view gold as a strategic asset and would like to diversify their foreign exchange reserves away from the Dollar. Impact to USA if such news is true?
Consumers feel poorer- USA Today,Sept. 22, 2008 page 1B. Such situation is not unexpected.
Francis Shieh a.k.a. Xie Shihao on Monday, Sept. 22, 2008 at 4.10 p.m.
As Hill debates bailout, Wall St.shifts continue...
Washington Post,Sept.22, 2008 Headline on page A1 re The financial Crisis: Paulson, GOP oppose Democrats' proposal to limit executive pay.
Democrates sought to add oversight provisions and taxpayer protections to the proposal, which amounts to the largest government intervention in the private markets since the Great Depression. "We will not simply hand over a $700 billion blank check to Wall Street." House speaker Nancy Pelosi said in a statement.
Bill McCarty wrote:(page A14)
We could have put the brakes on this train wreck, but there was no political will from Main Street to rein in the good times. Let's get behind a plan to clean up this mess, learn from our mistakes and make sure that the good sense of Main Street forever controls Wall Street and Pennsylvania Avenue as stated in the Preamble of the Constitution of the United States i.e. We, the people of the US...
Japan's central bank's financial reserves and the nation's economy are so inextricably tied to the fortunes of the USA that Japan simply cannot afford to criticize Washington or consider withdrawing its roughly $860 billion in US investments, mostly Treasury bonds. Sino-Japan trading activities are increasing for reference to USA. Sino-American Economics may be interwoven with Sino-Japan economics as economic influence in East Asia with the West.
Three words to guide such economic relationship: Vigilance(Jingti), Strength(Liliang) and Fortitude(Jianqiang) as the watchwords in the 21st century.
Francis Shieh a.k.a. Xie Shihao on Monday, September 22, 2008
Democrates sought to add oversight provisions and taxpayer protections to the proposal, which amounts to the largest government intervention in the private markets since the Great Depression. "We will not simply hand over a $700 billion blank check to Wall Street." House speaker Nancy Pelosi said in a statement.
Bill McCarty wrote:(page A14)
We could have put the brakes on this train wreck, but there was no political will from Main Street to rein in the good times. Let's get behind a plan to clean up this mess, learn from our mistakes and make sure that the good sense of Main Street forever controls Wall Street and Pennsylvania Avenue as stated in the Preamble of the Constitution of the United States i.e. We, the people of the US...
Japan's central bank's financial reserves and the nation's economy are so inextricably tied to the fortunes of the USA that Japan simply cannot afford to criticize Washington or consider withdrawing its roughly $860 billion in US investments, mostly Treasury bonds. Sino-Japan trading activities are increasing for reference to USA. Sino-American Economics may be interwoven with Sino-Japan economics as economic influence in East Asia with the West.
Three words to guide such economic relationship: Vigilance(Jingti), Strength(Liliang) and Fortitude(Jianqiang) as the watchwords in the 21st century.
Francis Shieh a.k.a. Xie Shihao on Monday, September 22, 2008
Washington Post,Monday,Sept. 22, 2008
Page A15: The Confidence Game -
Objections to Secretary of Treasury Paulson's proposal abound. It would rescue some financial institutiions from bad decisions and erode the normal discipline of potential losses. Some investors doubtlessly bought subprime securities at huge discounts and would reap massive profits by reselling to the government. That might trigger a public backlash. The program would be huge ($700 billion) and could burden future taxpayers.
My comment: That remains to be seen and we must have Faith,Hope and Charity for the best but be prepared for the worst as lifelong taxpayers in the years to come.
Five keys to recovery:
1. Put individual taxpayers first.
2. Minimize taxpayer costs over the long term.
3. Avoid creating an interim program.
4. Remember global investor, whose confidence we must regain.
5. Do not hesitate.
The above points are written by Robert H. Dugger, managing director of a global asset management firm and chairman of the Partnership for America's Economic Success. As policy director of the American Bankers Association in 1988, he led a panel of bankers in developing the plan that became the Resolution Trust Corporation.
My comment: It is the mix or combo of public sector and the private sector to play the role in the economy of USA and in China as I have observed.
China's decision last week to lower interest rates and bank reserve requirements is also likely to help Japan. China has replaced the United States as Japan's biggest trading partner. Such change serves as important reference for USA since America expects to trade with Japan and China to honor the Law of Comparative Advantage. US recession would punish Japan's exports. Trade for thoughts,indeed!
Francis Shieh a.k.a. Xie Shihao on Monday, September 22, 2008 at 10.12 a.m.
Objections to Secretary of Treasury Paulson's proposal abound. It would rescue some financial institutiions from bad decisions and erode the normal discipline of potential losses. Some investors doubtlessly bought subprime securities at huge discounts and would reap massive profits by reselling to the government. That might trigger a public backlash. The program would be huge ($700 billion) and could burden future taxpayers.
My comment: That remains to be seen and we must have Faith,Hope and Charity for the best but be prepared for the worst as lifelong taxpayers in the years to come.
Five keys to recovery:
1. Put individual taxpayers first.
2. Minimize taxpayer costs over the long term.
3. Avoid creating an interim program.
4. Remember global investor, whose confidence we must regain.
5. Do not hesitate.
The above points are written by Robert H. Dugger, managing director of a global asset management firm and chairman of the Partnership for America's Economic Success. As policy director of the American Bankers Association in 1988, he led a panel of bankers in developing the plan that became the Resolution Trust Corporation.
My comment: It is the mix or combo of public sector and the private sector to play the role in the economy of USA and in China as I have observed.
China's decision last week to lower interest rates and bank reserve requirements is also likely to help Japan. China has replaced the United States as Japan's biggest trading partner. Such change serves as important reference for USA since America expects to trade with Japan and China to honor the Law of Comparative Advantage. US recession would punish Japan's exports. Trade for thoughts,indeed!
Francis Shieh a.k.a. Xie Shihao on Monday, September 22, 2008 at 10.12 a.m.
Transitional or Evolutionary Economics as evidence nowadays
Sequel to Professor Ferguson's article about China as published by The Washington Post,OUTLOOK section on Sunday,September 21, 2008.
In light of the current happenings apropos of Global Economics,Adam Smith's "Wealth of Nations" may be updated with the attention to China's Economic growth. Positive and negative externalities should be noted under the present circumstances since the markets are not perfect and the role of the government is needed as per the message from President Bush on September 19, 2008.
The classical school of the market economy (with a kind of awe) would require modification in all respects. However,the Chinese language is as classical as Greek and as contemporary as any modern language being spoken by more than 1/5 of the folks in the world. Cf. "A Glimpse of the Chinese Language" www.rand.org for reference. It is well known that foreign language is needed for diplomacy with impact in Economics when communication is essential for trade and business in the 21st century. Sino-American Economics with the pitch from the Chinese language may be detected with insightful knowledge as empirical evidence in the days to come.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of economics and the Chinese language,a graduate student from Shanghai,China in 1947 on Monday,September 22, 2008 at 6.40 a.m.
In light of the current happenings apropos of Global Economics,Adam Smith's "Wealth of Nations" may be updated with the attention to China's Economic growth. Positive and negative externalities should be noted under the present circumstances since the markets are not perfect and the role of the government is needed as per the message from President Bush on September 19, 2008.
The classical school of the market economy (with a kind of awe) would require modification in all respects. However,the Chinese language is as classical as Greek and as contemporary as any modern language being spoken by more than 1/5 of the folks in the world. Cf. "A Glimpse of the Chinese Language" www.rand.org for reference. It is well known that foreign language is needed for diplomacy with impact in Economics when communication is essential for trade and business in the 21st century. Sino-American Economics with the pitch from the Chinese language may be detected with insightful knowledge as empirical evidence in the days to come.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of economics and the Chinese language,a graduate student from Shanghai,China in 1947 on Monday,September 22, 2008 at 6.40 a.m.
Sunday, September 21, 2008
Washington Post, Sept.21,08 Page A12
As of Friday, Sept.19, 2008 Citigroup sold 116 billion of stocks and bonds for companies and Bank of America sold 95 billion stocks and bonds.
Both banks are behemoths as they are growing so large in the whole world. Bank of America's Lewis was one notable winner as a chasened financial industry entering a new phase.
"The problem is transparency because regulators weren't able to assess risks at investment banks in the way they are able to with commercial banks," said Mark Gertler, an economics professor at NYU. Bank of America purchased Merrill Lynch.
Roger Leeds, director of the Center for International Business and Public Policy said: "The competitive landscape of finance is changing before our eyes and the losers are the investment banks. What we are having now is a fundamental correction, not only of the market but of the institutions themselves.
President Bush comments: "Our system of free enterprise rests on the conviction that the federal government should interfere in the marketplace only when necessary. Given the precarious state of today's financial markets, and their vital importance to the daily lives of the American people, government intervention is not only warranted, it is essential." Published by Washington Post,Sept. 20, 08 page A10.
I agree in toto of the above citations.
Francis Shieh a.k.a. Xie Shihao on Sunday, September 21, 2008 at 8.42 p.m.
Both banks are behemoths as they are growing so large in the whole world. Bank of America's Lewis was one notable winner as a chasened financial industry entering a new phase.
"The problem is transparency because regulators weren't able to assess risks at investment banks in the way they are able to with commercial banks," said Mark Gertler, an economics professor at NYU. Bank of America purchased Merrill Lynch.
Roger Leeds, director of the Center for International Business and Public Policy said: "The competitive landscape of finance is changing before our eyes and the losers are the investment banks. What we are having now is a fundamental correction, not only of the market but of the institutions themselves.
President Bush comments: "Our system of free enterprise rests on the conviction that the federal government should interfere in the marketplace only when necessary. Given the precarious state of today's financial markets, and their vital importance to the daily lives of the American people, government intervention is not only warranted, it is essential." Published by Washington Post,Sept. 20, 08 page A10.
I agree in toto of the above citations.
Francis Shieh a.k.a. Xie Shihao on Sunday, September 21, 2008 at 8.42 p.m.
Prof.Ferguson's article: Hold off on that obituary for the American Century
Professor Niall Ferguson at Harvard published a masterpiece at The Washington Post,Sept.21, 2008 on page B1, B5:
"Chinese savings surged from less than 30% to nearly 45% in the same time frame. This divergence in savings allowed a tremendous explosion of debt in the United States because the Asian savings glut made it much cheaper for households to borrow money. Meanwhile, cheap labor helped hold down inflation. My comment: The lifestyle of the folks in China with Wal-Mar effects for American consumers to save and pay less.
The reconvergence between East and West is speeding up. China's economy can maintain growth of 8% or more per year, propelled forward by state-led investment in infrastructure and growing consumer demand. Cf.First Nobel laureate in Economics, Jon Tinbergen's Convergence Theory,1969.
Sino-American friendship established back in 1972. " A Glimpse of the Chinese Language"(1965) on page 8 for China to be open to the world. Visit www.rand.org apropos of such paper for reference. China can explore other spheres of global influence, from the Shanghai Cooperation Organization that groups together China, Russia and four Central Asian nations to China's own nascent empire in commodity rich Africa."
The above citation of Professor Ferguson's magnum opus is Sino-American Economics in action by a distinguished scholar of history with his insights.
Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from China in 1947. September 21, 2008 at 5.22 p.m.
"Chinese savings surged from less than 30% to nearly 45% in the same time frame. This divergence in savings allowed a tremendous explosion of debt in the United States because the Asian savings glut made it much cheaper for households to borrow money. Meanwhile, cheap labor helped hold down inflation. My comment: The lifestyle of the folks in China with Wal-Mar effects for American consumers to save and pay less.
The reconvergence between East and West is speeding up. China's economy can maintain growth of 8% or more per year, propelled forward by state-led investment in infrastructure and growing consumer demand. Cf.First Nobel laureate in Economics, Jon Tinbergen's Convergence Theory,1969.
Sino-American friendship established back in 1972. " A Glimpse of the Chinese Language"(1965) on page 8 for China to be open to the world. Visit www.rand.org apropos of such paper for reference. China can explore other spheres of global influence, from the Shanghai Cooperation Organization that groups together China, Russia and four Central Asian nations to China's own nascent empire in commodity rich Africa."
The above citation of Professor Ferguson's magnum opus is Sino-American Economics in action by a distinguished scholar of history with his insights.
Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from China in 1947. September 21, 2008 at 5.22 p.m.
Views of the world hosted by Editor Zakaria(Newsweek)
American style of capitalism is the model for the world? Let us wait and see the consequences in the days to come.
Senior commentator Melman,author:
"Economic disasters begin with America, but this isn't an American disease anymore. It's global. From Beijing to Moscow, from Delhi to TelAviv, the world herd have followed blindly the tunes of the Wall Street pied piper. The roots of the problem are in greed, arrogance, stupidity and ignorance - in short, in basic human futilities. (or human frailty?)
Anwer Sher, commentator in banking:
"The crisis in the US market has been an economic slowdown, a gross mismanagement of public money(spending $1.5 billion a day on the war machine rather than on jobs, health and education), and the absence of a viable economic plan."
Ali Ettefagh, director of Highmore Global Corp.:
"It is astonishing to observe from abroad that the punishment is so severe for ordinary American citizens who default on their taxes, but that reckless financiers, who set the banking system on fire and cost those taxpayers billions, can walk away just marginally poorer.
Francis Shieh a.k.a. Xie Shihao, a reader of the above statements from Washington Post (9/19/08 page D4)with empathy of their views. September 21, 2008 at 2 p.m.
Senior commentator Melman,author:
"Economic disasters begin with America, but this isn't an American disease anymore. It's global. From Beijing to Moscow, from Delhi to TelAviv, the world herd have followed blindly the tunes of the Wall Street pied piper. The roots of the problem are in greed, arrogance, stupidity and ignorance - in short, in basic human futilities. (or human frailty?)
Anwer Sher, commentator in banking:
"The crisis in the US market has been an economic slowdown, a gross mismanagement of public money(spending $1.5 billion a day on the war machine rather than on jobs, health and education), and the absence of a viable economic plan."
Ali Ettefagh, director of Highmore Global Corp.:
"It is astonishing to observe from abroad that the punishment is so severe for ordinary American citizens who default on their taxes, but that reckless financiers, who set the banking system on fire and cost those taxpayers billions, can walk away just marginally poorer.
Francis Shieh a.k.a. Xie Shihao, a reader of the above statements from Washington Post (9/19/08 page D4)with empathy of their views. September 21, 2008 at 2 p.m.
True wealth: Rich in spirit and blessed with education
Washington Post,Sept. 21, 2006 page F4: What is the most valuable financial advice you learned from your parents?
Rita Cheng is a financial adviser at Ameriprise Financial Services in Bethesda. She wrote: "My father emigrated in the 1960s with ony $17 to his name and the clothes on his back. Even though he was poor in the material and financial sense, he never considered himself poor. His mantra was that financial wealth alone did not represent one's true wealth. He stressed the fact that he was rich in spirit and blessed with his education. The most valuable financial advice that my dad instilled in me was not to define myself by what I have, but rather by my accomplishments and education. He insisted that while money did not buy happiness, it did provide peace of mind, freedom and flexibility. I learned that money should not be the sole determining factor for the decisions I make in life. His financial wisdom and insight have enabled me to adopt a more balanced, holistic approach to financial matter for which I am eternally grateful."
I agree with the above in toto as I have sent my blogs in the past. I am delighted to find such identical mantra: faith,hope and love in this mundane world.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner for my economic education with spirituality: To live is to learn everyday with positive blessings. September 21, 2008 at 9.20 a.m.
Rita Cheng is a financial adviser at Ameriprise Financial Services in Bethesda. She wrote: "My father emigrated in the 1960s with ony $17 to his name and the clothes on his back. Even though he was poor in the material and financial sense, he never considered himself poor. His mantra was that financial wealth alone did not represent one's true wealth. He stressed the fact that he was rich in spirit and blessed with his education. The most valuable financial advice that my dad instilled in me was not to define myself by what I have, but rather by my accomplishments and education. He insisted that while money did not buy happiness, it did provide peace of mind, freedom and flexibility. I learned that money should not be the sole determining factor for the decisions I make in life. His financial wisdom and insight have enabled me to adopt a more balanced, holistic approach to financial matter for which I am eternally grateful."
I agree with the above in toto as I have sent my blogs in the past. I am delighted to find such identical mantra: faith,hope and love in this mundane world.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner for my economic education with spirituality: To live is to learn everyday with positive blessings. September 21, 2008 at 9.20 a.m.
Saturday, September 20, 2008
Wall St.Journal/New York Times: Similar write-ups
WSJ, Sept. 20-21, 08 on page A1: In Turmoil, Capitalism in US sets New Course on uncharted water: Gone is the faith, shared by the nation's leadership with varying degrees of enthusiasm, that the best road to prosperity is to unleash financial markets to allocate capital,take risks, enjoy profits, absorb losses. Erased is the hope that markets correct themselves when they overshoot.
Page B16: Stocks Gain - So does the national debt. The government's plan to take hundreds of billions of dollars in bad loans from stressed banks could cause the national debt to rise through the end of this decade. That is nicely timed to coincide with the enormous cost of shoring up Medicare and Social Security as baby boomers retire.
NYT,Sept.20th page A30: Same rational in the Editorial:
The regulatory failure was grounded in the magical belief that the market, with its invisible hand, works best when it's left alone to self regulate and self-correct. Please think about Adam Smith, Milton Friedman Versus Walter Heller and John K. Galbraith - all economists with their own interpretations of the economy.
Such comparisons in their seasoned assessment would be reference to China's economy for directions in the 21st century.
Francis Shieh a.k.a. Xie Shihao on Saturday, September 20, 2008 at 8.16 p.m.
Page B16: Stocks Gain - So does the national debt. The government's plan to take hundreds of billions of dollars in bad loans from stressed banks could cause the national debt to rise through the end of this decade. That is nicely timed to coincide with the enormous cost of shoring up Medicare and Social Security as baby boomers retire.
NYT,Sept.20th page A30: Same rational in the Editorial:
The regulatory failure was grounded in the magical belief that the market, with its invisible hand, works best when it's left alone to self regulate and self-correct. Please think about Adam Smith, Milton Friedman Versus Walter Heller and John K. Galbraith - all economists with their own interpretations of the economy.
Such comparisons in their seasoned assessment would be reference to China's economy for directions in the 21st century.
Francis Shieh a.k.a. Xie Shihao on Saturday, September 20, 2008 at 8.16 p.m.
"The Mind of the Market" by Michael Shermer
Compassionate apes, competitive humans, and other tales from evolutionary economics.
Why do we hold on to stocks long after it becomes clear that we should sell them? Why do we pay more for shirts with popular brand names,even when the labels are visible only inside our collars? Why do we become indignant as soon as we learn that other people are getting paid more for the same work, though we were perfectly satisfied before? Why? Because evolution wired us that way. My comment: We should have the optimistic scenario of cheer with upbeat regardless of negative encounters.
The hidden psychology that shapes the way we think about money and status et al.
I am an octogenarian learner who came to the United States as a graduate student in 1947 but I still feel like a student with intense quest for knowledge.
Money is the goal for most folks but there are those who would like to spread knowledge as dedicated teachers. I happen to be one of such homo sapiens.
I am satisfied with a simple life as a student of economics and enjoy watching all the headlines in the media about turmoil in economics nowadays. If we are living with philosophical underpinning,we should be happy to be in this mundane world and would not be perturbed by the happenings provided that we have food and lodging with spiritual joy of faith, hope and love.
Francis Shieh a.k.a. Xie Shihao on Saturday,September 20, 2008 at 3 p.
Why do we hold on to stocks long after it becomes clear that we should sell them? Why do we pay more for shirts with popular brand names,even when the labels are visible only inside our collars? Why do we become indignant as soon as we learn that other people are getting paid more for the same work, though we were perfectly satisfied before? Why? Because evolution wired us that way. My comment: We should have the optimistic scenario of cheer with upbeat regardless of negative encounters.
The hidden psychology that shapes the way we think about money and status et al.
I am an octogenarian learner who came to the United States as a graduate student in 1947 but I still feel like a student with intense quest for knowledge.
Money is the goal for most folks but there are those who would like to spread knowledge as dedicated teachers. I happen to be one of such homo sapiens.
I am satisfied with a simple life as a student of economics and enjoy watching all the headlines in the media about turmoil in economics nowadays. If we are living with philosophical underpinning,we should be happy to be in this mundane world and would not be perturbed by the happenings provided that we have food and lodging with spiritual joy of faith, hope and love.
Francis Shieh a.k.a. Xie Shihao on Saturday,September 20, 2008 at 3 p.
Japan,China locked in by deep investments in USA
Washington Post, Sept. 20, 2008 Page D1,D6:
Andy Xie,an independent economist( no relation with Francis Xie,another independent economist) who was formerly Morgan Stanley's chief Asia economist said:" United States needs to accept that a large amount of US assets must be transferred to other nations' ownership. If the U.S. is not willing to accept that,they will have to print money and the dollar will fall. And we will be headed towards a global financial meltdown." I would be inclined to decline such negative scenario. However,the Equation of Exchange or Quantity Theory of Money i.e. MV=PQ must be honored in the academic community. Moreover,Irving Fisher died as a poor investor. That is the irony of economics and the uncertain fate of economists.(sic)
Page D3: The costs of the program are high, and questions remain about how quickly Congress will be able to act. There is $800 billion in sub-prime and other types of high risk loans on the books of financial firms around the world, most of it on U.S. balance sheets,said Brian Bethune, chief US financial economist for Global Insight. Conceivably, they could do it. It is not outside the realm of possibility, but it is going to require a lot of rapid footwork here. Bethune said.
In Pin Yin,such comments would be: "xun su de zu zuo" Xie Shihao said." Xing bu xing?" That is the query of queries. "Yao yu xin xin" would be the answer of answers." Have faith,hope and LOVE,the words to live by ad infinitum.
Francis Shieh a.k.a. Xie Shihao,thanks from a hero of poetry on Saturday,Sept. 20, 2008 at 2 p.m.
Francis Shieh(xie) a lifelong student of economics in action in true action nowadays!
Andy Xie,an independent economist( no relation with Francis Xie,another independent economist) who was formerly Morgan Stanley's chief Asia economist said:" United States needs to accept that a large amount of US assets must be transferred to other nations' ownership. If the U.S. is not willing to accept that,they will have to print money and the dollar will fall. And we will be headed towards a global financial meltdown." I would be inclined to decline such negative scenario. However,the Equation of Exchange or Quantity Theory of Money i.e. MV=PQ must be honored in the academic community. Moreover,Irving Fisher died as a poor investor. That is the irony of economics and the uncertain fate of economists.(sic)
Page D3: The costs of the program are high, and questions remain about how quickly Congress will be able to act. There is $800 billion in sub-prime and other types of high risk loans on the books of financial firms around the world, most of it on U.S. balance sheets,said Brian Bethune, chief US financial economist for Global Insight. Conceivably, they could do it. It is not outside the realm of possibility, but it is going to require a lot of rapid footwork here. Bethune said.
In Pin Yin,such comments would be: "xun su de zu zuo" Xie Shihao said." Xing bu xing?" That is the query of queries. "Yao yu xin xin" would be the answer of answers." Have faith,hope and LOVE,the words to live by ad infinitum.
Francis Shieh a.k.a. Xie Shihao,thanks from a hero of poetry on Saturday,Sept. 20, 2008 at 2 p.m.
Francis Shieh(xie) a lifelong student of economics in action in true action nowadays!
Good Health is a matter of mutual interest in US/China
Eating well= Living well. That is the goal for Chinese and American or other folks in the world. When good taste meets good health for nutritional needs from the good earth in USA and China,the ideal harmony may be reached from both sides of the Pacific Ocean. Peace and Economic Development can be pursued in the 21st century.
Food can boost brain power in the literary and figurative sense i.e. helping mind and memory in essence and substance with mindset. I trust my mind is clear with good memory about the past recollection in consuming food for daily meals.
Eating like an octogenarian to be a centenarian in the years to come. A wish for all.
Recipes at Kame.com and go to oldwayspt.org. A suggestion for the food lovers.
Be good to our cells and eat wild berries. That is the nature's antioxidant superfruit to protect our cells against free radicals - those unstable oxygen molecules associated with cancer, heart disease, Alzheimer's and other effects of aging. We are aging merely in numbers but we must be active in our minds and body as young folks. We should use our brain everyday and stay agile and be alert as proper living habit.
We strive for organic optimum with clout for good health from soy sauce i.e. omega-3 with beancurd for nutritional value.
When I was an accountant with IBM in San Jose,California, the media published my "Ginger Kick" in 1957 to fight the so-called Asian Flu during that period. To wit: Turmeric is from an Asian plant as herb of the ginger family. Chinese food usually has ginger and green onion for flavor to get rid the grease to maintain health with good digestion.
Francis Shieh a.k.a. Xie Shihao, a consumer of various kinds of food since 1926 in China and in USA since 1947 with the above thoughts to be shared by readers at www.Blogger.com apropos of Sino-American Economics of Human Capital.
September 20, 2008 at 10.52 a.m.
Food can boost brain power in the literary and figurative sense i.e. helping mind and memory in essence and substance with mindset. I trust my mind is clear with good memory about the past recollection in consuming food for daily meals.
Eating like an octogenarian to be a centenarian in the years to come. A wish for all.
Recipes at Kame.com and go to oldwayspt.org. A suggestion for the food lovers.
Be good to our cells and eat wild berries. That is the nature's antioxidant superfruit to protect our cells against free radicals - those unstable oxygen molecules associated with cancer, heart disease, Alzheimer's and other effects of aging. We are aging merely in numbers but we must be active in our minds and body as young folks. We should use our brain everyday and stay agile and be alert as proper living habit.
We strive for organic optimum with clout for good health from soy sauce i.e. omega-3 with beancurd for nutritional value.
When I was an accountant with IBM in San Jose,California, the media published my "Ginger Kick" in 1957 to fight the so-called Asian Flu during that period. To wit: Turmeric is from an Asian plant as herb of the ginger family. Chinese food usually has ginger and green onion for flavor to get rid the grease to maintain health with good digestion.
Francis Shieh a.k.a. Xie Shihao, a consumer of various kinds of food since 1926 in China and in USA since 1947 with the above thoughts to be shared by readers at www.Blogger.com apropos of Sino-American Economics of Human Capital.
September 20, 2008 at 10.52 a.m.
Friday, September 19, 2008
Wall St.Journal and USA Today,Sept.19, 2008
WSJ 9/19/08 page A8: Cheers to investers in China: Central Huijin Investment Co. will buy stock in : Industrial and Commercial Bank of China(ICBC), Bank of China and China Construction Bank. Buying began Thursday, Sept. 18th and aims to shore up their share prices amid stock market slumps.
"It is absolutely a market rescuing message from the government." said a strategist at Orient Securities Co. in Shanghai.
Page C2: Smiles Return for Dow Soars...No laughs yet. Perhaps?
Page C12: Gold in biggest 2-day gain! Hooray all the way! Hehehahahoho as well.
Page B3: Oct. 14, 2008: The Sony Philharmonic Orchestra featuring Yo-yo MA, Cello.
MA is a Chinese name with his talents to be shown to Americans.
USA Today: Page 3B: Offering to buy Gold: All that glitters! Not papers,indeed! Food for in-depth thought for global investers to learn the truth with confidence in all papers with trust. My comment: It is certainly relevant to read the Federal Reserve Note above USA on the paper currency: This note is legal tender for all debts, public and private. Here we detect the combo of the public and private sectors in the great showmanship in the headlines lately with the acclamation of "Eureka"
The players of Magic is far better than David Copperfield,a magician or Charles Dickens, the author of "David Copperfield." Such events may be an extension of the deposit expansion multiplier plus + withdrawal expansion multiplier! (sic) Economic Principles and Policy with practice apropos of private interest Vs public interest?
Several decades ago,I mentioned to students that we are living in a credit-based economy but also debt-ridden. Some students got the message but others appeared to be lost about such insightful statement.(sic)
Francis Shieh a.k.a. Xie Shihao, an impartial and independent observer of the Relevant Economics apropos of Sino-American Economics. Sept. 19, 2008 at 2.22 p.m.
"It is absolutely a market rescuing message from the government." said a strategist at Orient Securities Co. in Shanghai.
Page C2: Smiles Return for Dow Soars...No laughs yet. Perhaps?
Page C12: Gold in biggest 2-day gain! Hooray all the way! Hehehahahoho as well.
Page B3: Oct. 14, 2008: The Sony Philharmonic Orchestra featuring Yo-yo MA, Cello.
MA is a Chinese name with his talents to be shown to Americans.
USA Today: Page 3B: Offering to buy Gold: All that glitters! Not papers,indeed! Food for in-depth thought for global investers to learn the truth with confidence in all papers with trust. My comment: It is certainly relevant to read the Federal Reserve Note above USA on the paper currency: This note is legal tender for all debts, public and private. Here we detect the combo of the public and private sectors in the great showmanship in the headlines lately with the acclamation of "Eureka"
The players of Magic is far better than David Copperfield,a magician or Charles Dickens, the author of "David Copperfield." Such events may be an extension of the deposit expansion multiplier plus + withdrawal expansion multiplier! (sic) Economic Principles and Policy with practice apropos of private interest Vs public interest?
Several decades ago,I mentioned to students that we are living in a credit-based economy but also debt-ridden. Some students got the message but others appeared to be lost about such insightful statement.(sic)
Francis Shieh a.k.a. Xie Shihao, an impartial and independent observer of the Relevant Economics apropos of Sino-American Economics. Sept. 19, 2008 at 2.22 p.m.
Bank of China buys into Rothschild,French Bank
Washington Post,Sept. 19, 2008 on page D2: Bank of China buys into Rothschild: Bank of China and French bank Rothschild announced a deal to develop private banking and asset-management service for China's newly rich.
Bank of China said it will buy a 20% stake in La Compagnie Financiere Edmond de Rothschild for $340 million, and the two will develop private banking and asset-management services. Such news would be good reference for American banks.
China's Industrial and Commercial Banking Corporation(ICBC) will have a new branch office in New York starting in October 2008.
It is known that Bank of America bought 10% stake in China Construction Bank years ago. Such is Sino-American Economics in action with more actions in the days to come for mutual benefit.
Francis Shieh a.k.a. Xie Shihao. September 19, 2008 at 11 a.m.
Bank of China said it will buy a 20% stake in La Compagnie Financiere Edmond de Rothschild for $340 million, and the two will develop private banking and asset-management services. Such news would be good reference for American banks.
China's Industrial and Commercial Banking Corporation(ICBC) will have a new branch office in New York starting in October 2008.
It is known that Bank of America bought 10% stake in China Construction Bank years ago. Such is Sino-American Economics in action with more actions in the days to come for mutual benefit.
Francis Shieh a.k.a. Xie Shihao. September 19, 2008 at 11 a.m.
Thursday, September 18, 2008
Wall St.Journal,NY Times,WashTimes,Sept.18,08
Wall Street Journal,9/18/08 page A1,A8: Worst Crisis since '30s, with no end in sight. Let us wait and see the events in the days to come.
Page A6: Congress vows action on markets but after election.NOT YET!
Page A25: Mr.Roche,President of Independent Strategy in London wrote:
"The credit crunch will be an end as there is to all things. When we energe from this, it will be to a world in which thrift has replaced leverage and scarce capital is invested more productivity" My comment: Confucianism teaches students to be thrify and frugal with education to enhance productivity as I sent my blogs in the past to stress Sino-American Economics re globalization.
Page C5: Three Chinese state-owned banks reported small exposure to the debt of Lehman Brothers Holdings. ICBC,Bank of China and China Merchants Bank.
Page D4: Air China adds frills to attract high-end fliers after Olympics to expand business to international customers.
New York Times page A1: The mighty FED wears several hats i.e.
to set monetary policy,insurance conglomerate and investment banker and even hedge fund manager.For Example: Bear Stearns,AIG, Fannie Mae and Freddie Mac.
Page C12: The Chinese economy grew 23% ?in dollar terms last year. Source unknown.
Page A33: Prof. John K. Galbraith explained: "The salary of CEO is not market award but warm personal gesture by the individual to himself. Cf. Book Review: Almost Everyone's Guide to Economics. Published by Atlantic Economic Review,Sept.1979.
Washington Times: Sept.18,08 Page A20: Bandit Capitalism? Hardly a day goes by without PAGE ONE stories about business malfeasance and financial misfeasance.
Francis Shieh a.k.a. Xie Shihao, a keen watcher of economic happenings since 1940s as a graduate student from China to advanced studies in USA. Sept. 18,2008
Page A6: Congress vows action on markets but after election.NOT YET!
Page A25: Mr.Roche,President of Independent Strategy in London wrote:
"The credit crunch will be an end as there is to all things. When we energe from this, it will be to a world in which thrift has replaced leverage and scarce capital is invested more productivity" My comment: Confucianism teaches students to be thrify and frugal with education to enhance productivity as I sent my blogs in the past to stress Sino-American Economics re globalization.
Page C5: Three Chinese state-owned banks reported small exposure to the debt of Lehman Brothers Holdings. ICBC,Bank of China and China Merchants Bank.
Page D4: Air China adds frills to attract high-end fliers after Olympics to expand business to international customers.
New York Times page A1: The mighty FED wears several hats i.e.
to set monetary policy,insurance conglomerate and investment banker and even hedge fund manager.For Example: Bear Stearns,AIG, Fannie Mae and Freddie Mac.
Page C12: The Chinese economy grew 23% ?in dollar terms last year. Source unknown.
Page A33: Prof. John K. Galbraith explained: "The salary of CEO is not market award but warm personal gesture by the individual to himself. Cf. Book Review: Almost Everyone's Guide to Economics. Published by Atlantic Economic Review,Sept.1979.
Washington Times: Sept.18,08 Page A20: Bandit Capitalism? Hardly a day goes by without PAGE ONE stories about business malfeasance and financial misfeasance.
Francis Shieh a.k.a. Xie Shihao, a keen watcher of economic happenings since 1940s as a graduate student from China to advanced studies in USA. Sept. 18,2008
Gold surges on lure of safe haven
Washington Post, September 18, 2008 on page D1,D4:
The price of gold soared more than 8% yesterday, the biggest one-day jumps in eight years, as investors looked for a safe place to park their money during the spreading financial crisis. I would be in a position to concur with their actions.
The price of gold is likely to continue rising in the coming months. In addition to increasd demand from investors and a shrinking supply, there is strong demand in rapidly growning economies such as China. Such is the basic supply/demand concept.
Page A21: Henry Kissinger, former Secretary of State and Martin Feldstein, former Chairman of Economic Advisers published an article: "The Power of Oil Consumers." - "Rather than wait passively for the next blow to fall, the major consuming nations - the Group of Seven, together with China,India and Brazil - should establish a coordinating group to shift the long-term trends of supply and demand in their favor and to end the blackmail of the strong by the weak.
Here we see international economics in action including the role of China in Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao. Sept. 18, 2008 at 11.25 a.m.
The price of gold soared more than 8% yesterday, the biggest one-day jumps in eight years, as investors looked for a safe place to park their money during the spreading financial crisis. I would be in a position to concur with their actions.
The price of gold is likely to continue rising in the coming months. In addition to increasd demand from investors and a shrinking supply, there is strong demand in rapidly growning economies such as China. Such is the basic supply/demand concept.
Page A21: Henry Kissinger, former Secretary of State and Martin Feldstein, former Chairman of Economic Advisers published an article: "The Power of Oil Consumers." - "Rather than wait passively for the next blow to fall, the major consuming nations - the Group of Seven, together with China,India and Brazil - should establish a coordinating group to shift the long-term trends of supply and demand in their favor and to end the blackmail of the strong by the weak.
Here we see international economics in action including the role of China in Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao. Sept. 18, 2008 at 11.25 a.m.
Creative goal may not be lucrative but making contributions
Teachers' contributions are hugely meaningful to students. SPELL TEACHER:
T -Truth
E -Encouragement
A -Assurance
C -Care
H -Heart
E -Efforts
R -Remember (the teacher.)
I started teaching in 1945 and taught until July 2008 as an octogenarian. Even though I am not in a classroom but I can still send my blogs to spread knowledge for the readers via www.Blogger.com with faith,hope and love apropos of Sino-American Economics in the 21st century. Thank you for your support and understanding.
Francis Shieh a.k.a. Xie Shihao on Thursday, Sept. 18, 2008 at 6.35 a.m.
T -Truth
E -Encouragement
A -Assurance
C -Care
H -Heart
E -Efforts
R -Remember (the teacher.)
I started teaching in 1945 and taught until July 2008 as an octogenarian. Even though I am not in a classroom but I can still send my blogs to spread knowledge for the readers via www.Blogger.com with faith,hope and love apropos of Sino-American Economics in the 21st century. Thank you for your support and understanding.
Francis Shieh a.k.a. Xie Shihao on Thursday, Sept. 18, 2008 at 6.35 a.m.
Wednesday, September 17, 2008
Wall Street Journal/New York Times:9/17/08
WSJ page B2: General Motors began its US$ 250 million corporate campus in Shanghai to study alternative fuels. Shanghai is the target for US auto investment.
NYT page A6: Tata's Nano,a subcompact for US$2500 was unveiled at a car show in New Delhi, India. I have reason to believe that such car will be exported to China for US $2500 plus freight charges.
Page A10: AIG's Asian units seek to allay customers' fears.
Page A26: Senator McCain blamed the meltdown on unbridled corruption and greed in USA. Well,there are corruption and greed of some people in China as well.
Page A4: Treasury Secretary Paulson says his team has not taken a day off in the past 5 weeks. Amid turmoil, tireless team of advisers backed Paulson, a friend of China to develop economic activities between the USA and China.
Here is another evidence of Sino-American economics in the works.
Francis Shieh a.k.a. Xie Shihao. Sept. 17, 2008 at 3.45 p.m.
NYT page A6: Tata's Nano,a subcompact for US$2500 was unveiled at a car show in New Delhi, India. I have reason to believe that such car will be exported to China for US $2500 plus freight charges.
Page A10: AIG's Asian units seek to allay customers' fears.
Page A26: Senator McCain blamed the meltdown on unbridled corruption and greed in USA. Well,there are corruption and greed of some people in China as well.
Page A4: Treasury Secretary Paulson says his team has not taken a day off in the past 5 weeks. Amid turmoil, tireless team of advisers backed Paulson, a friend of China to develop economic activities between the USA and China.
Here is another evidence of Sino-American economics in the works.
Francis Shieh a.k.a. Xie Shihao. Sept. 17, 2008 at 3.45 p.m.
Healthy Food for longevity: Goal for folks in USA/China
TEN POINTS/POINTERS for the readers of Sino-American Economics for Daily Needs:
1.Pledge may be given for all food for being fresh before putting into mouth.
2.Fresh ingredients are used at home or in the restaurants if such can be done.
3.To use oven instead of deep fry in pan to avoid oil to maintain health.
4.Brush teeth and rinse mouth before exercising taste buds.
5.Spice up our food with soy sauce instead of other overspicy condiments.
6.Fill up our stomach without emptying our wallet or overextending credit limit.
7.Stay away from stale food or drinks if such requirement can be known.
8.Save the world with environment-friendly food stuff.
9.Chinese toufu is a must for mixing with seafood such as fish and shrimps.
10.Drink toufu soup everyday as Chinese do in China or Chinese in every nook and corner on earth for traditional drink.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai in 1947 with Chinese taste buds with involvement of Western food after six decades plus.
September 17,2008 at 2.06 p.m.
1.Pledge may be given for all food for being fresh before putting into mouth.
2.Fresh ingredients are used at home or in the restaurants if such can be done.
3.To use oven instead of deep fry in pan to avoid oil to maintain health.
4.Brush teeth and rinse mouth before exercising taste buds.
5.Spice up our food with soy sauce instead of other overspicy condiments.
6.Fill up our stomach without emptying our wallet or overextending credit limit.
7.Stay away from stale food or drinks if such requirement can be known.
8.Save the world with environment-friendly food stuff.
9.Chinese toufu is a must for mixing with seafood such as fish and shrimps.
10.Drink toufu soup everyday as Chinese do in China or Chinese in every nook and corner on earth for traditional drink.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai in 1947 with Chinese taste buds with involvement of Western food after six decades plus.
September 17,2008 at 2.06 p.m.
"Trade Saves the Day" by Economist C. Fred Bergsten
Washington Post, Sept.17, 2008 on page A19 published the above title by Bergsten, director of Peterson Institute for International Economics. He was assistant Treasury Secretary from 1977 to 1981 and assistant for International economic affairs to the National Security Concil from 1969 to 1971. He wrote: - "Two major factors are driving this stellar performance. One is continued growth in the rest of thw rorld, driven largely by emerging markets. Those countries, led by China and India, make up half the global economy." Here we can detect the economic clout of China in terms of globalization and the title indicates the effective operating of the Law of Comparative Advantage as I sent my blogs in the past for your reference.
Francis Shieh a.k.a. Xie Shihao on Wednesday,Sept. 17, 2008 at 9.30 a.m. at Andrews AF Base Library.
Francis Shieh a.k.a. Xie Shihao on Wednesday,Sept. 17, 2008 at 9.30 a.m. at Andrews AF Base Library.
Tuesday, September 16, 2008
Wall Street Journal and New York Times,9/16/08
WSJ Sept.16, 08 page A10:
China cuts key rates amid strains. With the economies of the US,Europe and Japan showing ever more signs of weakness - some forecasters now expect a recession in all three - an increasing share of the world's fortunes is now riding on continued growth in China. That is one reason the move to shore up growth in the world's 4th largest economy is likely to be as welcome abroad as at home. Here we detect Sino-American Economics re globalization in the name of economics.
Page A24: Review and Outlook: Surviving the Panic: What the economy really needs is a big pro-growth tax cut, the kind that will restore confidence and risk-taking. However, as of 2.30 p.m. on Sept.16th, FED decision not to cut rates. Let us watch the repercussins in the days to come. FED's mettle will continue to be tested.
New York Times: Page A6: Chinese characters in photo re a hospital in Nanjing. Such photo reminds me of my teaching assignment at Nanjing University of Finance and Economics in the Fall 2002 as an American expert.
Page B7: Charlie Chan films - Police Chief Dan Liu was a career law-enforcing officer for 42 years and 21 years as the Chief with a long record.
Page C12: China eases monetary policy - Western economists i.e. Goldman Sachs welcomed a step toward lower rates as I envisioned in my past blogs.
Francis Shieh a.k.a. Xie Shihao,a lifelong student and watcher of Sino-American economics in action. Sept. 16, 2008 at 3.40 p.m.
China cuts key rates amid strains. With the economies of the US,Europe and Japan showing ever more signs of weakness - some forecasters now expect a recession in all three - an increasing share of the world's fortunes is now riding on continued growth in China. That is one reason the move to shore up growth in the world's 4th largest economy is likely to be as welcome abroad as at home. Here we detect Sino-American Economics re globalization in the name of economics.
Page A24: Review and Outlook: Surviving the Panic: What the economy really needs is a big pro-growth tax cut, the kind that will restore confidence and risk-taking. However, as of 2.30 p.m. on Sept.16th, FED decision not to cut rates. Let us watch the repercussins in the days to come. FED's mettle will continue to be tested.
New York Times: Page A6: Chinese characters in photo re a hospital in Nanjing. Such photo reminds me of my teaching assignment at Nanjing University of Finance and Economics in the Fall 2002 as an American expert.
Page B7: Charlie Chan films - Police Chief Dan Liu was a career law-enforcing officer for 42 years and 21 years as the Chief with a long record.
Page C12: China eases monetary policy - Western economists i.e. Goldman Sachs welcomed a step toward lower rates as I envisioned in my past blogs.
Francis Shieh a.k.a. Xie Shihao,a lifelong student and watcher of Sino-American economics in action. Sept. 16, 2008 at 3.40 p.m.
Business Week,September 22, 2008 .WashPost
Page 032:Business Week
Governor Zhou(with Photo) of China's central bank(PBC) said:" We never had any doubt." That means China keeps buying American debt. As I sent my blogs in the past,China is a friend of USA and two nations must work together for the best interests of the folks in the 21st century.
Washington Post, 9/16/08 page D3: Secretary Treasury(with photo) Paulson sought to forestall a market meltdown without having to resort to another government bailout.
Business Week,Page 020: Treasury Secretary Paulson was reassuring investors including China. Here we can detect Sino-American Economics in action.
Francis Shieh a.k.a. Xie Shihao. Sept. 16, 2008 at 1.50 p.m.
Governor Zhou(with Photo) of China's central bank(PBC) said:" We never had any doubt." That means China keeps buying American debt. As I sent my blogs in the past,China is a friend of USA and two nations must work together for the best interests of the folks in the 21st century.
Washington Post, 9/16/08 page D3: Secretary Treasury(with photo) Paulson sought to forestall a market meltdown without having to resort to another government bailout.
Business Week,Page 020: Treasury Secretary Paulson was reassuring investors including China. Here we can detect Sino-American Economics in action.
Francis Shieh a.k.a. Xie Shihao. Sept. 16, 2008 at 1.50 p.m.
Secretary of Treasury Paulson's Moment:WashPost
Washington Post,Sept. 16, 2008 on page A21: Hank Paulson said he wouldn't be content to keep the seat warm. He was running Goldman Sachs, the preeminent investment bank, and he had no need to come to Washington if he wasn't going to make an impact. Until Sunday,it ws pretty hard to see where Paulson's impact lay. His environmental interests had not caused a sprouting of green policies. His strong contacts in China had fostered a bilateral talkfest apropos of Sino-American Economics. Let us watch the developments of US-China economic relations.
Page B1: George Washington University adds ethical focus to business graduate school. MBAs must take ethics courses. My comment: Confucianism teaches ethics and morality but Confucianism is rarely taught in US graduate school in business.
"The Imperial Woman" by Pearl S. Buck is the story of empress of Manchu China as cited in Parade magazine.Sept.14th.
Francis Shieh a.k.a. Xie Shihao sees the interests of Americans in China including Sino-American Economics. Sept. 16, 2008 at 10.22 a.m.
Page B1: George Washington University adds ethical focus to business graduate school. MBAs must take ethics courses. My comment: Confucianism teaches ethics and morality but Confucianism is rarely taught in US graduate school in business.
"The Imperial Woman" by Pearl S. Buck is the story of empress of Manchu China as cited in Parade magazine.Sept.14th.
Francis Shieh a.k.a. Xie Shihao sees the interests of Americans in China including Sino-American Economics. Sept. 16, 2008 at 10.22 a.m.
C-Span Radio on Constitution Day,Sept.17th.Citizenship Day
Today is Sept.16th but folks are preparing to commemorate the signing of the US Constitution in Philadelphia on that day in 1787. The Website,http://constitutionday.cpms.osd.mil provides useful information and resources to help citizens learn this landmark document continues to guide this nation, United States of America.
I have reason to believe that China's Constitution is also the supreme law and is being honored for all courts in the 21st century. Such is Sino-American Economics since Economics and Law are always interwoven for a good society.
Francis Shieh a.k.a. Xie Shihao,a student of Criminal Law at St. John's University in early 1940s and I do honor the Law of Comparative Advantage in economics for trade as the part and parcel of international economics and international law.
September 16, 2008 at 6.28 a.m.
I have reason to believe that China's Constitution is also the supreme law and is being honored for all courts in the 21st century. Such is Sino-American Economics since Economics and Law are always interwoven for a good society.
Francis Shieh a.k.a. Xie Shihao,a student of Criminal Law at St. John's University in early 1940s and I do honor the Law of Comparative Advantage in economics for trade as the part and parcel of international economics and international law.
September 16, 2008 at 6.28 a.m.
Monday, September 15, 2008
Wall Street Journal & New York Times, Sept.15, 2008
Page A1: Moves cap a momentous weekend for American Finance: Bank of America has long coveted Merrill Lynch- Wall Street executives said the Federal Reserve may have been involved in orchestrating the sale for $50 billion.
Page A14: Duke University Fuqua School of Business is making a significant global investment to reshape graduate management education in Shanghai as a new form of business school uniquely relevant to the 21st century. I compared notes with Juanita Kreps,Professor of Economics at Duke University in "Work and Study Cycle Theory" Cf.www.Ask.com online book catalog for reference. US-China economic relations are cited in the conclusion. Published in 1978 with a vision.
New York Times, Sept. 15, 2008 page A1:
Stunning Fall for Main Street's brokerage firm: Merrill Lynch, which has lost more than $45 billion on its mortgage investments, agreed to sell itself to Bank of America for $50.3 billion in stock. The merger would combine Bank of America'sbanking and lending strength with Merrill Lynch's wealth management expertise.
Page B1,B6: Three Generations of China's Women find voice in opera. The Bonesetter's Daughter: Zheng Cao and Qian Yi in San Francisco Opera Production, based on the Amy Tan novel.
Page C1: A frantic weekend that Wall Street won't forget: Fear and greed are the stuff that Wall Street is made of. Impact on China with rate cut at PBC,the central bank of China to be possibly followed by US FED rate cut in the near future.
Page C3: Download the textbook: Keys for Economic Understanding: www.Amazon.com
Page C4: China's media mogul tutored by Masters of Hollywood. I taught Economics in Hollywood,Los Angeles, California from 1958-1961.
Francis Shieh a.k.a. Xie Shihao. Sept. 15,2008 at 3.28 p.m.
Page A14: Duke University Fuqua School of Business is making a significant global investment to reshape graduate management education in Shanghai as a new form of business school uniquely relevant to the 21st century. I compared notes with Juanita Kreps,Professor of Economics at Duke University in "Work and Study Cycle Theory" Cf.www.Ask.com online book catalog for reference. US-China economic relations are cited in the conclusion. Published in 1978 with a vision.
New York Times, Sept. 15, 2008 page A1:
Stunning Fall for Main Street's brokerage firm: Merrill Lynch, which has lost more than $45 billion on its mortgage investments, agreed to sell itself to Bank of America for $50.3 billion in stock. The merger would combine Bank of America'sbanking and lending strength with Merrill Lynch's wealth management expertise.
Page B1,B6: Three Generations of China's Women find voice in opera. The Bonesetter's Daughter: Zheng Cao and Qian Yi in San Francisco Opera Production, based on the Amy Tan novel.
Page C1: A frantic weekend that Wall Street won't forget: Fear and greed are the stuff that Wall Street is made of. Impact on China with rate cut at PBC,the central bank of China to be possibly followed by US FED rate cut in the near future.
Page C3: Download the textbook: Keys for Economic Understanding: www.Amazon.com
Page C4: China's media mogul tutored by Masters of Hollywood. I taught Economics in Hollywood,Los Angeles, California from 1958-1961.
Francis Shieh a.k.a. Xie Shihao. Sept. 15,2008 at 3.28 p.m.
Bank of America remains strong
Because its core banking business is healthy. Bank of America will now be a major player on Wall Street. Published by The Washington Post,September 15, 2008 on pages A1,A13. It is certainly good news for Bank of America and its employees and customers.
Bank of America holds 10% stakes at the China Construction Bank. Such is Sino-American Economics apropos of globalization of financial and banking,indeed!
The headlines are published by media in the world and the financial clout of Bank of America is established in the eyes of the public.
Francis Shieh a.k.a. Xie Shihao on September 15, 2008 at 9.35 a.m.
Bank of America holds 10% stakes at the China Construction Bank. Such is Sino-American Economics apropos of globalization of financial and banking,indeed!
The headlines are published by media in the world and the financial clout of Bank of America is established in the eyes of the public.
Francis Shieh a.k.a. Xie Shihao on September 15, 2008 at 9.35 a.m.
Work(Walk) ten thousand steps into our day. You bet!
Take the stairs. I walk upstairs and downstairs for fun. Try such exercises on daily basis as routine.
Park the car farther from the post office or the stores.
Walk around Andrews AFB for civilian self-imposed duty. Duty calls every day.
With the success of the physical fitness challenge,plans are underway for future fitness activities. In the meantime,the hard work of walking serves to encourage others to follow suit. In addition to getting healthy and staying healthy, the most fulfilling part of walking for me is the folks who have told me that I provided them the incentive to start walking as octogenarians.
Francis Shieh a.k.a. Xie Shihao on Monday,Sept.15th 2008 at 6 a.m. Have a great day to the readers and stay informed and stay ahead with your chin up when walking.
Park the car farther from the post office or the stores.
Walk around Andrews AFB for civilian self-imposed duty. Duty calls every day.
With the success of the physical fitness challenge,plans are underway for future fitness activities. In the meantime,the hard work of walking serves to encourage others to follow suit. In addition to getting healthy and staying healthy, the most fulfilling part of walking for me is the folks who have told me that I provided them the incentive to start walking as octogenarians.
Francis Shieh a.k.a. Xie Shihao on Monday,Sept.15th 2008 at 6 a.m. Have a great day to the readers and stay informed and stay ahead with your chin up when walking.
Sunday, September 14, 2008
The Power of Walking for avid walkers: Stay Smart!
A recent poll conducted for America on the Move shows that Americans walk an average of 5,310 steps in a day. However, numerous scientific and medical studies show it takes 10,000 steps a day - roughly 5 and a half miles - to achieve optimal physical fitness. I had a wonderful opportunity to walk in Shanghai from August 7 through August 24, 2008. Walking is relaxing with fun in hot days with good sweating.
Extra walking lowers blood pressure and helps the body process glucose, and therefore can also dramatically reduce the risk of heart disease and type 2 diabetes.
The above serves as sequel to the economics of health for human capital in the USA and in China apropos of Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on September 14, 2008 at 9 p.m.
Extra walking lowers blood pressure and helps the body process glucose, and therefore can also dramatically reduce the risk of heart disease and type 2 diabetes.
The above serves as sequel to the economics of health for human capital in the USA and in China apropos of Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on September 14, 2008 at 9 p.m.
Sequel to Health as Human Capital in Economics
Active social life may delay memory loss:
Harvard School of Public Health researchers have found evidence that older adults in the US who have active social lives may have a slower rate of memory decline. My comment: Active intellectual life may help brain to work better as I do.
Data for the study was gathered from 1998 to 2004 from the Health and Retirement Study - a large nationally representative population of US adults age 50 and over. Social participation i.e. integration was measured by evaluating marital status: volunteer activities such as blogging and contact with children or grandchildren. Results showed people with the highest social integration has the slowest rate of memory decline. In fact, among the most socially integrated older adults, memory declline was less than half the rate of those least integrated. Dementia can be avoided by daily blogging to exercise the brain all the time.
Francis Shieh a.k.a. Xie Shihao, an octogenarian and a blogger for Sino-American Economics of Health,i.e. Humann Capital in USA and in China as well.
Sunday,Sept. 14, 2008, the Mid-Autumn Festival to eat Moom Cake for family reunion as per the culture of China and handing down heritage of family bond as American tradition.
Professor P.M. Forni at Johns Hopkins University and author of the new book,: "The Civility Solution, What to do when people are rude." My comment: Study Confucianism and Christianity: To forget and to forgive such rudeness as ladies and gentlemen in the 21st century in USA and in China with harmony. At 6.30 a.m.
Harvard School of Public Health researchers have found evidence that older adults in the US who have active social lives may have a slower rate of memory decline. My comment: Active intellectual life may help brain to work better as I do.
Data for the study was gathered from 1998 to 2004 from the Health and Retirement Study - a large nationally representative population of US adults age 50 and over. Social participation i.e. integration was measured by evaluating marital status: volunteer activities such as blogging and contact with children or grandchildren. Results showed people with the highest social integration has the slowest rate of memory decline. In fact, among the most socially integrated older adults, memory declline was less than half the rate of those least integrated. Dementia can be avoided by daily blogging to exercise the brain all the time.
Francis Shieh a.k.a. Xie Shihao, an octogenarian and a blogger for Sino-American Economics of Health,i.e. Humann Capital in USA and in China as well.
Sunday,Sept. 14, 2008, the Mid-Autumn Festival to eat Moom Cake for family reunion as per the culture of China and handing down heritage of family bond as American tradition.
Professor P.M. Forni at Johns Hopkins University and author of the new book,: "The Civility Solution, What to do when people are rude." My comment: Study Confucianism and Christianity: To forget and to forgive such rudeness as ladies and gentlemen in the 21st century in USA and in China with harmony. At 6.30 a.m.
Saturday, September 13, 2008
Effects of downturn in the USA: China is cooling
Washington Post, September 13, 2008 page A14:
"Chinese growth cools and the policy makers are changing tactics. The government has decided that slower growth is now the greater threat, moving in recent weeks to loosen lending to regional banks, which could in turn provide more loans to medium and small businesses."
"China also has an ace in the hole with almost $2 trillion in cash reserves, leaving it free to spend on massive infrastructure projects that will keep feeding the domestic economy. While China spent about $42 billion on Olympics related construction,it is now expected to spend in the neighborhood of $180 billion to rebuild the area devastated by the earthquake. Consumer demand accounts for only about 35% of China's economy, about half the proportion in the United States." My comment: It is the different lifestyle of the folks in China which should be noted by American economists. That is why the rate of saving is high in China. Analysts in US tend to have American lifestyle in mind paying little attention to the lifestyle of the people in China. The typical example is the Purchasing Power Parity as I published my article in the Atlantic Economic Journal in 1970s and the same rationale was cited by Lawrence Summers in 1990s.
Page A15: a high school teacher who furnished cocaine to students and was dubbed in the school's yearbook "the cooled women alive." Skip Wolfe wrote "I don't consider either of these women "cool"; rather, they used extremely bad judgment when interacting with students. Let us wake up and use the term "cool" where it is deserved for a display of examplary character." I have reason to believe that most American and Chinese would share the same values as known the proper meaning of the word "value" Any comment from the readers,please?
Francis Shieh a.k.a. Xie Shihao,a graduate student from China in 1947 and I have been studying Sino-American Economics with intellectual curiosity. Sept. 13, 2008 at 8.28 p.m.
"Chinese growth cools and the policy makers are changing tactics. The government has decided that slower growth is now the greater threat, moving in recent weeks to loosen lending to regional banks, which could in turn provide more loans to medium and small businesses."
"China also has an ace in the hole with almost $2 trillion in cash reserves, leaving it free to spend on massive infrastructure projects that will keep feeding the domestic economy. While China spent about $42 billion on Olympics related construction,it is now expected to spend in the neighborhood of $180 billion to rebuild the area devastated by the earthquake. Consumer demand accounts for only about 35% of China's economy, about half the proportion in the United States." My comment: It is the different lifestyle of the folks in China which should be noted by American economists. That is why the rate of saving is high in China. Analysts in US tend to have American lifestyle in mind paying little attention to the lifestyle of the people in China. The typical example is the Purchasing Power Parity as I published my article in the Atlantic Economic Journal in 1970s and the same rationale was cited by Lawrence Summers in 1990s.
Page A15: a high school teacher who furnished cocaine to students and was dubbed in the school's yearbook "the cooled women alive." Skip Wolfe wrote "I don't consider either of these women "cool"; rather, they used extremely bad judgment when interacting with students. Let us wake up and use the term "cool" where it is deserved for a display of examplary character." I have reason to believe that most American and Chinese would share the same values as known the proper meaning of the word "value" Any comment from the readers,please?
Francis Shieh a.k.a. Xie Shihao,a graduate student from China in 1947 and I have been studying Sino-American Economics with intellectual curiosity. Sept. 13, 2008 at 8.28 p.m.
Wall Street Journal,9-13-08 and New YorkTimes 9/13/08
WSJ,Sept.13-14,2008: Page A1: Merrill Lynch saw its stock drop 12%,following a 17% drop on Thursday,Sept.11,08. AIG faces downgrade and possible asset sales.
Page A3: The Treasury pledged to inject as much as $200 billion in capital into Lehman companies, as needed ,to keep them solvent. The CBO estimated that the Treasury's authority to invest in the firms would widen the deficit by $25 billion over 2 years. Page A4: Retail sales fall amid consumer unease.i.e. Consumption sector occupies 2/3 of GDP as a sign of slowdown of the US economy.
Page B1: Lehman woes pressure AIG,Merriall Lynch: Falling shares raise questions about financial capital. Such may be described as a game of papers with value.(sic)
Page B3: China used 1.81 trillion reserves, the world's largest such store to sway Costa Rica: $150 million US$ bonds with 2% interest and 150 million in January 2009Page B16: Year-to-date performance of Financial Stocks: -
Merrill Lynch: down 68%
AIG down: 79%
Lehman Brothers: down 94%
Page R13 Teaching English in China: "I really got a sense of China as a dynamic, friendly, entrepreneurial society." said Mr. Schreibe,a 64-year-old retired engineer.
New York Times Page A8: Pope's plea for Europe to look to its roots in Christian culture. My comment: Perhaps Europe should look to Confucianism in Asia circa 550-491 B.C.? as a forerunner of Christianity. Morality and Ethics toward mortality as the be-all and end-all of all humanity as the ultimate finale of human drama in this mundane world with understanding of M at the palm to remind us about such eventuality.
Francis Shieh a.k.a. Xie Shihao on Saturday,September 13, 2008
Page A22: New York Films Festival plans a China Focus in 2009 to celebrate 60th anniversary of People's Republic of China.
Page B6: China deal draws praise for Coke with strategic significance to invest 2.3 billion to Hui Yuan Juice in China.
Francis Shieh a.k.a. Xie Shihao on Saturday,September 13, 2008 at 3.05 p.m.
Page A3: The Treasury pledged to inject as much as $200 billion in capital into Lehman companies, as needed ,to keep them solvent. The CBO estimated that the Treasury's authority to invest in the firms would widen the deficit by $25 billion over 2 years. Page A4: Retail sales fall amid consumer unease.i.e. Consumption sector occupies 2/3 of GDP as a sign of slowdown of the US economy.
Page B1: Lehman woes pressure AIG,Merriall Lynch: Falling shares raise questions about financial capital. Such may be described as a game of papers with value.(sic)
Page B3: China used 1.81 trillion reserves, the world's largest such store to sway Costa Rica: $150 million US$ bonds with 2% interest and 150 million in January 2009Page B16: Year-to-date performance of Financial Stocks: -
Merrill Lynch: down 68%
AIG down: 79%
Lehman Brothers: down 94%
Page R13 Teaching English in China: "I really got a sense of China as a dynamic, friendly, entrepreneurial society." said Mr. Schreibe,a 64-year-old retired engineer.
New York Times Page A8: Pope's plea for Europe to look to its roots in Christian culture. My comment: Perhaps Europe should look to Confucianism in Asia circa 550-491 B.C.? as a forerunner of Christianity. Morality and Ethics toward mortality as the be-all and end-all of all humanity as the ultimate finale of human drama in this mundane world with understanding of M at the palm to remind us about such eventuality.
Francis Shieh a.k.a. Xie Shihao on Saturday,September 13, 2008
Page A22: New York Films Festival plans a China Focus in 2009 to celebrate 60th anniversary of People's Republic of China.
Page B6: China deal draws praise for Coke with strategic significance to invest 2.3 billion to Hui Yuan Juice in China.
Francis Shieh a.k.a. Xie Shihao on Saturday,September 13, 2008 at 3.05 p.m.
Live happily to 100+: Secrets are revealed below
Advances in health care enable us to live well to old age. But maintaining a high quality of life takes more than jukst medicine. Find out the secrets to a long and fruitful lifespan: Americans are living longer and Chinese are keeping up the simple lifestyle as centenarians.
According to Censuks Bureau projections,about 1 million plus Americans will live to 100 plus and Chinese would enjoy longevity i.e. Changshengbulao as the watchwords. The following guidelines should be heeded: I serve as an example to my children - just one of the benefits of a smart lifestyle.
1.Exercise my brain - To be in good physical and mental health by blogging online and reading newspapers every day. Such health benefits are statistically intangible but undeniable.
2 Sleep well with prayers - Simple and obvious - get myself to bed at 9.30 p.m. and get up at 5.30 a.m.
3.Positive outlook - Everything is going to be alright. Honeychild.
4.Balanced Diet - Doses of fruits and veggies are key along with whole grains,dairy and lean protein.
5.Exercise my body -Good walk is required everyday. A "MUST" indeed.
6.Drink water and smoke air - No indulgence on alcohol and save money.
7.Faith,hope and LOVE to be the mantra as devotional incantation.
8,Making commitment to wellness in our minds and hearts.
9.Sharing happiness with others. Smile would not cost a penny.
10.Be motivated. Have the inner gumption to scale unprecedented heights.
The above 10 points or pointers are dedicated to the readers of Sino-American Economics in the human capital field with good intent and best wishes to YOU from Francis Shieh a.k.a. Xie Shihao on Saturday,September 13, 2008 at 6.45 a.m.
According to Censuks Bureau projections,about 1 million plus Americans will live to 100 plus and Chinese would enjoy longevity i.e. Changshengbulao as the watchwords. The following guidelines should be heeded: I serve as an example to my children - just one of the benefits of a smart lifestyle.
1.Exercise my brain - To be in good physical and mental health by blogging online and reading newspapers every day. Such health benefits are statistically intangible but undeniable.
2 Sleep well with prayers - Simple and obvious - get myself to bed at 9.30 p.m. and get up at 5.30 a.m.
3.Positive outlook - Everything is going to be alright. Honeychild.
4.Balanced Diet - Doses of fruits and veggies are key along with whole grains,dairy and lean protein.
5.Exercise my body -Good walk is required everyday. A "MUST" indeed.
6.Drink water and smoke air - No indulgence on alcohol and save money.
7.Faith,hope and LOVE to be the mantra as devotional incantation.
8,Making commitment to wellness in our minds and hearts.
9.Sharing happiness with others. Smile would not cost a penny.
10.Be motivated. Have the inner gumption to scale unprecedented heights.
The above 10 points or pointers are dedicated to the readers of Sino-American Economics in the human capital field with good intent and best wishes to YOU from Francis Shieh a.k.a. Xie Shihao on Saturday,September 13, 2008 at 6.45 a.m.
Friday, September 12, 2008
A crisis of faith in free market
Washington Post, September 12, 2008 page A4:
"It will be several years, and probably several more rescues and interventions, before the crisis has subsided. There is already talk of $26 billion to $50 billion in federal loans to the auto industry, along with an economic stimulus package chock full of public investments. Investment in the public sector is in evidence.
But even after the economy has recovered and financial markets return to normal, a generation of Americans that has lived through the savings and loan crisis of the '80s, the Internet bubble of the 90s,and the current credit crisis is likely to retain both a lingering suspicion of unregulated markets and a willingness to use the powers and resources of government to enhance economic stability.
My comment: Such is political economy in evidence as cited in "Keys for Economic Understanding." Cf. www.Amazon.com book catalog for reference.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of economics to compare Sino-American Economics. September 12, 2008 at 8.11 p.m.
"It will be several years, and probably several more rescues and interventions, before the crisis has subsided. There is already talk of $26 billion to $50 billion in federal loans to the auto industry, along with an economic stimulus package chock full of public investments. Investment in the public sector is in evidence.
But even after the economy has recovered and financial markets return to normal, a generation of Americans that has lived through the savings and loan crisis of the '80s, the Internet bubble of the 90s,and the current credit crisis is likely to retain both a lingering suspicion of unregulated markets and a willingness to use the powers and resources of government to enhance economic stability.
My comment: Such is political economy in evidence as cited in "Keys for Economic Understanding." Cf. www.Amazon.com book catalog for reference.
Francis Shieh a.k.a. Xie Shihao, a lifelong learner of economics to compare Sino-American Economics. September 12, 2008 at 8.11 p.m.
Washington Times,September 12, 2008 page A2
The Catholic Vote - An Editorial: (For reference only. Readers are invited to make comments when he/she sees fit. Have fairness to respect individual views!
"There are 47 million Catholics in America as the largest single faith group in the nation.(about a quarter of the voters) Joe Biden has his Catholic faith. Since 1960, the selection of US presidents has depended in large measure on the ballots cast by Catholic voters." as published in such editorial.
In China,Catholic are considered as Christians. "Laotianye" may be applied to all folks with faith. As far as I know,there are more Protestant Christians due to misunderstanding of the so-called power of the Pope. Actually,Pope has authority in faith and morals. Confucius taught morality and ethics. Confucius could have been the forerunner of Christianity as he lived circa 551-478 B.C. if I am not incorrect apropos of such historical record. History may be somewhat distorted by historians.(sic)
Sino-American Economics may have a bearing with politics and faith because of politician's decision. Economic policies would have repercussions on all folks in this mundane world. The Kingdom of God is supernatural in conceptual understanding. As long as we are living in this world,we are bound to encounter various fields of economics. When all humans leave this world,he/she would realize that the letter M can be found in his/her palm to remind him/her about Mortality. i.e. We are all mortals,indeed!
Francis Shieh a.k.a. Xie Shihao, a lifelong student of philosophy and religion since early 1940s in Shanghai,China. Cf. Speakers on Asian Topics by searching www.Google.com September 12, 2008 at 2.38 p.m.
"There are 47 million Catholics in America as the largest single faith group in the nation.(about a quarter of the voters) Joe Biden has his Catholic faith. Since 1960, the selection of US presidents has depended in large measure on the ballots cast by Catholic voters." as published in such editorial.
In China,Catholic are considered as Christians. "Laotianye" may be applied to all folks with faith. As far as I know,there are more Protestant Christians due to misunderstanding of the so-called power of the Pope. Actually,Pope has authority in faith and morals. Confucius taught morality and ethics. Confucius could have been the forerunner of Christianity as he lived circa 551-478 B.C. if I am not incorrect apropos of such historical record. History may be somewhat distorted by historians.(sic)
Sino-American Economics may have a bearing with politics and faith because of politician's decision. Economic policies would have repercussions on all folks in this mundane world. The Kingdom of God is supernatural in conceptual understanding. As long as we are living in this world,we are bound to encounter various fields of economics. When all humans leave this world,he/she would realize that the letter M can be found in his/her palm to remind him/her about Mortality. i.e. We are all mortals,indeed!
Francis Shieh a.k.a. Xie Shihao, a lifelong student of philosophy and religion since early 1940s in Shanghai,China. Cf. Speakers on Asian Topics by searching www.Google.com September 12, 2008 at 2.38 p.m.
Wall Street Journal, September 12, 2008 page A1,A14
Lehman races to find a buyer: Bank of America? US plays matchmaking role.
Page A10: China's online culture goes unchecked: Increasing access - Percentage of Chinese, age 6 and older, who have used the Internet in the last 6 months: In 2005 less than 10% but in 2008 to 20% Source: China Internet Network Information Center.
Page C1,C5: Shanghai - China tells businesses to unionize - Great progress for workers such as workers at Wal-Mart stores in Kunming, Yunnan Province, China with published photo.
In the US scene,statistical data may be found at the Bureau of Census, Suitland, Maryland,USA. I visited Census Bureau decades ago and I am aware of all the renovated building now.
Francis Shieh a.k.a. Xie Shihao. September 12, 2008 at 1.40 p.m.
Page A10: China's online culture goes unchecked: Increasing access - Percentage of Chinese, age 6 and older, who have used the Internet in the last 6 months: In 2005 less than 10% but in 2008 to 20% Source: China Internet Network Information Center.
Page C1,C5: Shanghai - China tells businesses to unionize - Great progress for workers such as workers at Wal-Mart stores in Kunming, Yunnan Province, China with published photo.
In the US scene,statistical data may be found at the Bureau of Census, Suitland, Maryland,USA. I visited Census Bureau decades ago and I am aware of all the renovated building now.
Francis Shieh a.k.a. Xie Shihao. September 12, 2008 at 1.40 p.m.
Trade gap hits 16-month high:WashPost,9/12/08
Washington Post, September 12, 2008 issue published US trade deficit to the highest level in 16 months as oil imports hit all time high,offsetting strong export growth. The deficit with China climbed to the second highest level on record.
The Commerce Department reported that the deficit rose by 5.7% to $62.2 billion in July, worse than the $58 billion deficit that Wall Street expected. It pushed the gap between what America imports and what it sells abroad to the highest level since March 2007. Imports rose 3.9%, to a record $230.3 billion. Exports rose 3.3%, to $168.1 billion, also a record.
According to Radio broadcast right now,the stock market is going southward. The state of US economy is down affecting China's economy as well in terms of globalization.
Francis Shieh a.k.a. Xie Shihao, the daily consumer watching other consumers buy products from China due to family budget constraint as the impact from the state of US economy. September 12, 2008 at 11.11 a.m.
The Commerce Department reported that the deficit rose by 5.7% to $62.2 billion in July, worse than the $58 billion deficit that Wall Street expected. It pushed the gap between what America imports and what it sells abroad to the highest level since March 2007. Imports rose 3.9%, to a record $230.3 billion. Exports rose 3.3%, to $168.1 billion, also a record.
According to Radio broadcast right now,the stock market is going southward. The state of US economy is down affecting China's economy as well in terms of globalization.
Francis Shieh a.k.a. Xie Shihao, the daily consumer watching other consumers buy products from China due to family budget constraint as the impact from the state of US economy. September 12, 2008 at 11.11 a.m.
To maintain wellness via exercise plus mindset
Exercise is required for moderate activities with endurance (renshou) in Pin Yin. Fortitude(jianyi) should be our motto under any or all circumstances. The empirical evidence of success is strong with such guideposts. Walking is a base line for fitness but vigorous activities may be avoided in the name of moderation.(Zhong yong zhi dao) in Pin Yin system of romanization for the traditional culture of China.
Mental health is also important i.e. we must have the thoughts of being young i.e. to rejuvenate and to restore youthful vigor as our state of mind. (xintai yao nian qing)in Pin Yin. Moreover, We should strive for balancing our need to love and to be loved even though we expect to be self-reliant(zixin) in Pin Yin. We would be able to shine in our gracious modesty. Furthermore, we are looking for peace and tranquility but we need companionship with good folks such as family members and friends.
Francis Shieh a.k.a. Xie Shihao, an octogenarian believing the significance of human capital to be stressed in health apropos of Sino-American Economics. on Friday,September 12, 2008 at 6.56 a.m.
Mental health is also important i.e. we must have the thoughts of being young i.e. to rejuvenate and to restore youthful vigor as our state of mind. (xintai yao nian qing)in Pin Yin. Moreover, We should strive for balancing our need to love and to be loved even though we expect to be self-reliant(zixin) in Pin Yin. We would be able to shine in our gracious modesty. Furthermore, we are looking for peace and tranquility but we need companionship with good folks such as family members and friends.
Francis Shieh a.k.a. Xie Shihao, an octogenarian believing the significance of human capital to be stressed in health apropos of Sino-American Economics. on Friday,September 12, 2008 at 6.56 a.m.
Thursday, September 11, 2008
Reimagining Energy and Health Care Issues
Washington Post,Sept. 11, 2008 page A17: Susan Hochfield,President of MIT wrote:
The United States is tangled in a triple knot: a shaky economy, battered by volatile energy prices, world politics weighed down by issues of energy consumption and security; and mounting evidence of global climate change.
Page A16: USA has high health care disparities by race and income for healthful or unhealful lifestyles.
My comment: Both energy and health care are global issues that USA and China are confronting nowadays. If two nations can work together to find the common ground with cooperation and collaboration,such joint effort would be more productive and economical for mutual benefit as I would envision. My recommendation is merely initial at best and readers' inputs are invited for constructive Sino-American Economics. Thanks for reading and have a nice day.
Francis Shieh a.k.a. Xie Shihao with thoughts for energy,climate change and health issues. Sept. 11, 2008 at 8.22 p.m.
The United States is tangled in a triple knot: a shaky economy, battered by volatile energy prices, world politics weighed down by issues of energy consumption and security; and mounting evidence of global climate change.
Page A16: USA has high health care disparities by race and income for healthful or unhealful lifestyles.
My comment: Both energy and health care are global issues that USA and China are confronting nowadays. If two nations can work together to find the common ground with cooperation and collaboration,such joint effort would be more productive and economical for mutual benefit as I would envision. My recommendation is merely initial at best and readers' inputs are invited for constructive Sino-American Economics. Thanks for reading and have a nice day.
Francis Shieh a.k.a. Xie Shihao with thoughts for energy,climate change and health issues. Sept. 11, 2008 at 8.22 p.m.
Investor's Business Daily. Sept. 11, 2008
www.investors.com Page A11:
If the Chinese,Japanese and the Kuwaitis and all the rest of our creditors had stepped uup their sales of Fannie and Freddie bonds, such a sell-off could have caused a general economic panic(jingji konghuang)in Pin Yin and a run(queshao) in Pin Yin on the US currency.
Food for thought for Sino-American Economics in the days to come.
Francis Shieh a.k.a. Xie Shihao on September 11, 2008
If the Chinese,Japanese and the Kuwaitis and all the rest of our creditors had stepped uup their sales of Fannie and Freddie bonds, such a sell-off could have caused a general economic panic(jingji konghuang)in Pin Yin and a run(queshao) in Pin Yin on the US currency.
Food for thought for Sino-American Economics in the days to come.
Francis Shieh a.k.a. Xie Shihao on September 11, 2008
Anti-business leads to contraction and other bits of news
John P. Cochran said:" In light of on-going Anti-business political rhetoric, the cutbacks are in evidence leading to slowdown in venture.
Page A10: Taiwan talks to China to explore daily flights and ocean links. Make business,not conflicts! That is the intent of folks on cross-strait relations.
Page A14: The Review and Outlook section: -
Billionaires explain Sino-American Economics appropos of the Chinese as holder of Fannie senior debt. Who is getting richer on taxpayers' dime? Food for Thought for voters to elect the new President in November 2008.
Page D1,D6: The New Card on campus: Prepaid debt. The card issue firms push high fee alternatives. Somebody has to make a profit either large or small?
Page B5: From China, a new challenger to the King of Beers- Snow Beer known as "Xue Hua" in Pin Yin system of phonetic equivalents. "Xue Hua" is the largest beer brand in the world. China is selling beer to the world for good business for profits in the days to come. China is a market-driven economy.
Page B7: Amazon scores E-book deals for Cindy McCain and Michelle Obama as the candidate to be the First Lady in the White House after January 20, 2009. Electronic version of "A Glimpse of the Chinese Language" in English is available free as public service. Cf.www.rand.org for information.
New York Times,Sept. 11, 2008: Page C1,C4: Real Estate woes spread to China -Decline same as USA,Britain and Spain. Reason: Folks are uncertain about the future as well.
Page C9: Japan's inflation holds 27-year high. USA and China are suffering from inflation as well. Read "A Precis on Inflation" in my previous blog from www.Blogger.com Archives. Globalization works in nations on earth in the E-Age.
Francis Shieh a.k.a. Xie Shihao on Thursday,September 11, 2008 at 1.40 p.m.
Page A10: Taiwan talks to China to explore daily flights and ocean links. Make business,not conflicts! That is the intent of folks on cross-strait relations.
Page A14: The Review and Outlook section: -
Billionaires explain Sino-American Economics appropos of the Chinese as holder of Fannie senior debt. Who is getting richer on taxpayers' dime? Food for Thought for voters to elect the new President in November 2008.
Page D1,D6: The New Card on campus: Prepaid debt. The card issue firms push high fee alternatives. Somebody has to make a profit either large or small?
Page B5: From China, a new challenger to the King of Beers- Snow Beer known as "Xue Hua" in Pin Yin system of phonetic equivalents. "Xue Hua" is the largest beer brand in the world. China is selling beer to the world for good business for profits in the days to come. China is a market-driven economy.
Page B7: Amazon scores E-book deals for Cindy McCain and Michelle Obama as the candidate to be the First Lady in the White House after January 20, 2009. Electronic version of "A Glimpse of the Chinese Language" in English is available free as public service. Cf.www.rand.org for information.
New York Times,Sept. 11, 2008: Page C1,C4: Real Estate woes spread to China -Decline same as USA,Britain and Spain. Reason: Folks are uncertain about the future as well.
Page C9: Japan's inflation holds 27-year high. USA and China are suffering from inflation as well. Read "A Precis on Inflation" in my previous blog from www.Blogger.com Archives. Globalization works in nations on earth in the E-Age.
Francis Shieh a.k.a. Xie Shihao on Thursday,September 11, 2008 at 1.40 p.m.
EU slashes economic growth forecast
Washington Post,Sept. 11, 2008 on page D7:
Brussels - The European Union said that it expects a sharper than expected slowdown in its economy for 2008 because of persistent high inflation, falling real estate values in some countries and the turmoil in financial markets. My comment: Globalizatin is in process for negative retreat of the economies. In the US scene,there is implosion causing repercussions with impact in other nations as explosion as I sent my previous blogs for your reference. Please check the archives.
Page D5: In the US scene, Many Wall Street observers contend that the stock market will not be able to carve out a sustained recovery until investors can determine the scale of losses in the financial sector. Global banks have written off more than $300 billion in bad investments. The books that I recommended in the previous blog would be useful reference for in-depth analysis in light of the current events in economics. Needless to say, such impact affects China re Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on 9-11-08 for national grief with added concern about the state of the economy. Let us find out on Nov.4, 2008 apropos of the will of the Americans for Presidential election. At 10.30 a.m. in Maryland, USA.
Brussels - The European Union said that it expects a sharper than expected slowdown in its economy for 2008 because of persistent high inflation, falling real estate values in some countries and the turmoil in financial markets. My comment: Globalizatin is in process for negative retreat of the economies. In the US scene,there is implosion causing repercussions with impact in other nations as explosion as I sent my previous blogs for your reference. Please check the archives.
Page D5: In the US scene, Many Wall Street observers contend that the stock market will not be able to carve out a sustained recovery until investors can determine the scale of losses in the financial sector. Global banks have written off more than $300 billion in bad investments. The books that I recommended in the previous blog would be useful reference for in-depth analysis in light of the current events in economics. Needless to say, such impact affects China re Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on 9-11-08 for national grief with added concern about the state of the economy. Let us find out on Nov.4, 2008 apropos of the will of the Americans for Presidential election. At 10.30 a.m. in Maryland, USA.
Financial Shock by Mark Zandi. Bad Money by Kevin Phillips
Economist Mark Zandi is a clear primer on how and why the crisis occurred. Zandi is chief economist and cofounder of Moody's Economy.com. "Financial Shock": A 360 Degreee Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis. 270 pp.$24.99. My comment: Implosion leads to explosion to other nations due to global impact with repercussion in the days to come.
Kevin Phillips, the author of "Bad Money"- Reckless Finance, Failed Politics, And the Global Crisis of American Capitalism. Viking. 239 pp. $25.95. He is alarmed by the increasing gap in wealth between the richest Americans and the rest of the population. Other analysts see this trend coming from political choices, the unplanned chaos of global markets and individual avarice. Phillips, author of American Dynasty and American Theocracy, spies the shadowy hand of the financial elite pulling the strings. According to him, since the 1980s, Wall Streeet and its Washington allies have set out to tie the US economy to the money sector and let manufacturing companies and factory workers fall by the wayside.
It is up to the readers to agree or disagree with such views. I would envision closer cooperation and collaboration of economic activities of USA and China for mutual benefit in terms of globalization of two nations on both sides of the Pacific in the 21st century.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of comparative economics and a blogger interested in Sino-American Economics. September 11, 2008 at 6.35 a.m.
Kevin Phillips, the author of "Bad Money"- Reckless Finance, Failed Politics, And the Global Crisis of American Capitalism. Viking. 239 pp. $25.95. He is alarmed by the increasing gap in wealth between the richest Americans and the rest of the population. Other analysts see this trend coming from political choices, the unplanned chaos of global markets and individual avarice. Phillips, author of American Dynasty and American Theocracy, spies the shadowy hand of the financial elite pulling the strings. According to him, since the 1980s, Wall Streeet and its Washington allies have set out to tie the US economy to the money sector and let manufacturing companies and factory workers fall by the wayside.
It is up to the readers to agree or disagree with such views. I would envision closer cooperation and collaboration of economic activities of USA and China for mutual benefit in terms of globalization of two nations on both sides of the Pacific in the 21st century.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of comparative economics and a blogger interested in Sino-American Economics. September 11, 2008 at 6.35 a.m.
Wednesday, September 10, 2008
The ups and downs of the economy
We live in challenging times, and sometimes the stresses and strains of daily living. The confusion and conflict we see on the news can take center stage in our minds and hearts. It's at times like these that we need to remember what really matters in our lives: the love of family and friends: the wonder of the world around us: the high tech electronic communication et al: the beauty of a generous heart; and, above all, the LAOTIANYE whose mercy and love uphold and sustain us all the days of our lives.
May richest blessings be with you and all your loved ones,today,tomorrow and ad infinitum.
Francis Shieh a.k.a. Xie Shihao on Teacher's Day, September 10, 2008. I started teaching in Shanghai, China in 1945 and taught in July 2008 in USA. Tomorrow is September 11 and we must mourn the victims who were killed by terrorists. USA and China are fighting terrorists with the same goal in the 21st century. September 10, 2008 at 8.10 p.m.
May richest blessings be with you and all your loved ones,today,tomorrow and ad infinitum.
Francis Shieh a.k.a. Xie Shihao on Teacher's Day, September 10, 2008. I started teaching in Shanghai, China in 1945 and taught in July 2008 in USA. Tomorrow is September 11 and we must mourn the victims who were killed by terrorists. USA and China are fighting terrorists with the same goal in the 21st century. September 10, 2008 at 8.10 p.m.
New York Times and Wall Street Journal,Sept.10,08
NYT Sept.10,08: Page A9: "The Apprentice" NCAA Academic All-American and Rhodes Scholar from Rutgers.
WSJ Page A3: Sen. McCain is pushing retraining.
Both Apprenticeship Programs and Retraining in American community colleges are elaborated in "Keys for Economic Understanding" www.Amazon.com book category for reference.
Page H1: Learning to share: Wealth and Personal Finance to be shared in good faith,hope and love.
Page H9: Passion and Prudence,the secrets to collecting Gold et al for intrinsic value of metals.
Page 8A: China will continue the spirit of opening up for foreign reporters.
Wall Street Journal:
Page A3: "Americans are pretty sophisticated pocketbook voters and lots of individuals and their families understand that real earnings growth has been waning for many years" said Metthew Slaughter, an economics professor at Dartmouth who was a Bush White House economist. My comment: I sent my blogs in the past for the same views. The next President will be Mr. .....,not......
Francis Shieh a.k.a. Xie Shihao. September 10, 2008 at 2.55 p.m.
WSJ Page A3: Sen. McCain is pushing retraining.
Both Apprenticeship Programs and Retraining in American community colleges are elaborated in "Keys for Economic Understanding" www.Amazon.com book category for reference.
Page H1: Learning to share: Wealth and Personal Finance to be shared in good faith,hope and love.
Page H9: Passion and Prudence,the secrets to collecting Gold et al for intrinsic value of metals.
Page 8A: China will continue the spirit of opening up for foreign reporters.
Wall Street Journal:
Page A3: "Americans are pretty sophisticated pocketbook voters and lots of individuals and their families understand that real earnings growth has been waning for many years" said Metthew Slaughter, an economics professor at Dartmouth who was a Bush White House economist. My comment: I sent my blogs in the past for the same views. The next President will be Mr. .....,not......
Francis Shieh a.k.a. Xie Shihao. September 10, 2008 at 2.55 p.m.
Federal Shortfall to Double this year: Published in WashPost
Washington Post,Sept. 10, 2008 Page A1: Next President to inherit deficit of $500 billion. Women listen as Sen. McCain and Alaska Gov. Sarah Palin speak at a rally for the Republican presidential ticket in Ohio. Palin appears to have inspired a groundswell of support among women who bristle at both male dominance and feminism.
Page D1: With stock markets swinging 300 points a day and the economy diving into recession,Senator Obama takes such issues to populist complaints that government has committed enormous amounts of taxpayer money to bail out corporate fat cats and rich investors while ignoring the plight of millions of Americans facing personal bankruptcy and foreclosure. Let us watch the election on November 4, 2008.
The New President must cultivate good economic relations with China for mutual benefit in the 21st century as positive Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on Sept.10, 2008 at 9.45 a.m.
Page D1: With stock markets swinging 300 points a day and the economy diving into recession,Senator Obama takes such issues to populist complaints that government has committed enormous amounts of taxpayer money to bail out corporate fat cats and rich investors while ignoring the plight of millions of Americans facing personal bankruptcy and foreclosure. Let us watch the election on November 4, 2008.
The New President must cultivate good economic relations with China for mutual benefit in the 21st century as positive Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on Sept.10, 2008 at 9.45 a.m.
Terrorism threat remains real: Published by WashPost
Washington Post,Sept.9,2008 page A21: "Globalilzation, privatization, rapid transportation, instant communications" are spreading proliferation capabilities to developing states and private entities around the world,said Brian D. Finlay,co-director of the Cooperative Non-Proliferation Program at the Henry Stimson Center, a Washington Think Tank.
My comment: US and China have the same concern to fight Terrorism for peace and economic development apropos of the safety of humanity.
Francis Shieh a.k.a. Xie Shihao,a lifelong student advocating economic development for humankind in the 21st century. Nobody would impugn. Sept. 10, 2008
My comment: US and China have the same concern to fight Terrorism for peace and economic development apropos of the safety of humanity.
Francis Shieh a.k.a. Xie Shihao,a lifelong student advocating economic development for humankind in the 21st century. Nobody would impugn. Sept. 10, 2008
Tuesday, September 9, 2008
Wall Street Journal,Sept.9,08 and NYT 9-9-08
Recent polls have shown that people in Hong Kong increasing identify with a mainland China 11 years ago after the former British Crown colony was returned to Chinese sovereignty. Patriotic sentiments has been riding high on the back of Beijing Olympics. Ethnic Chinese are proud of China and Non-Chinese are equally proud of China's achievement and success for the Olympic Games in August 2008 on record.
SHANGHAI - Chinese authorities have opened the door for the adoption of scores of children whose parents were killed in earthquakes.
Page A22: US plans serves as template for China to bolster its markets. Would the markets be riding high in the forseeable future? Only time will tell eventually.
Shanghai - The US government's decision to nationalize its home mortgage giants may have given an unintentional endorsement to calls for China's government to rescue its faltering financial markets. Let us wait and see the outcome.
"It is the government's duty to intervene" says a former central bank adviser who adds:"Now we have a very good example that it is acceptable." I would envision the rise of the stock market in due course of time.
Page C1: Keeping an eye on China and its copper appetite: Copper prices are up 4% to record high. My comment: US pennies are made of copper with intrinsic value and historical significance as collector's delight in the days to come.
New York Times 9-9-08 page A1 and A25:
Paulson's influence displayed in Fannie and Freddie rescue. Paulson is a friend of China apropos of Sino-American Economics in action.
Francis Shieh a.k.a. Xie shihao. Sept. 9, 2008 at 3.45 p.m.
SHANGHAI - Chinese authorities have opened the door for the adoption of scores of children whose parents were killed in earthquakes.
Page A22: US plans serves as template for China to bolster its markets. Would the markets be riding high in the forseeable future? Only time will tell eventually.
Shanghai - The US government's decision to nationalize its home mortgage giants may have given an unintentional endorsement to calls for China's government to rescue its faltering financial markets. Let us wait and see the outcome.
"It is the government's duty to intervene" says a former central bank adviser who adds:"Now we have a very good example that it is acceptable." I would envision the rise of the stock market in due course of time.
Page C1: Keeping an eye on China and its copper appetite: Copper prices are up 4% to record high. My comment: US pennies are made of copper with intrinsic value and historical significance as collector's delight in the days to come.
New York Times 9-9-08 page A1 and A25:
Paulson's influence displayed in Fannie and Freddie rescue. Paulson is a friend of China apropos of Sino-American Economics in action.
Francis Shieh a.k.a. Xie shihao. Sept. 9, 2008 at 3.45 p.m.
Asian stocks jump on US takeover of mortgage firms
Washington Post,Sept.9, 2008 page D2:
In recent weeks, officials from China's central bank(PBC) in particular had shared concerns about the future of their US mortgage-related debt - estimated at more than $300 billion - with US officials. During those talks, described as informal conversations between economic and central bank liaisons in Beijing and Washingon, Chinese officials expressed their desire for the US to act quickly and decisively, according to a source familiar with the talks. My comment: Readers can easily detect the decision of US takeover as a matter of mutual benefit to China's economy.
Eswark Prasad, a former IMF expert on China and a senior fellow at the Brookings Institution said: "I don't think concern for the Chinese was a very big factor in Treasury's decison. They were obviously far more concerned with the US financial system but a side effect of this is going to be that foreign debt holders and central banks find themselves on safer ground now." Readers can get the drift of such statement. My comment: It is certainly a matter of Sino-American economics in whatever way that readers would see their own scenarios with gigantic impacts and the effects in the days to come.
Page A8: Treasury secretary Henry Paulson is said to be the plan's principal architect. Administration decided in late August that takeover was needed. It is very clear that Paulson is very much interested in China's economy to be interwoven with US economy in the 21st century with his vision from the 20th century.
Francis Shieh a.k.a. Xie Shihao,an independent observer of Sino-American economics in action on September 9, 2008 at 1.48 p.m.
In recent weeks, officials from China's central bank(PBC) in particular had shared concerns about the future of their US mortgage-related debt - estimated at more than $300 billion - with US officials. During those talks, described as informal conversations between economic and central bank liaisons in Beijing and Washingon, Chinese officials expressed their desire for the US to act quickly and decisively, according to a source familiar with the talks. My comment: Readers can easily detect the decision of US takeover as a matter of mutual benefit to China's economy.
Eswark Prasad, a former IMF expert on China and a senior fellow at the Brookings Institution said: "I don't think concern for the Chinese was a very big factor in Treasury's decison. They were obviously far more concerned with the US financial system but a side effect of this is going to be that foreign debt holders and central banks find themselves on safer ground now." Readers can get the drift of such statement. My comment: It is certainly a matter of Sino-American economics in whatever way that readers would see their own scenarios with gigantic impacts and the effects in the days to come.
Page A8: Treasury secretary Henry Paulson is said to be the plan's principal architect. Administration decided in late August that takeover was needed. It is very clear that Paulson is very much interested in China's economy to be interwoven with US economy in the 21st century with his vision from the 20th century.
Francis Shieh a.k.a. Xie Shihao,an independent observer of Sino-American economics in action on September 9, 2008 at 1.48 p.m.
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