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.