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.
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