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.
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