Page A1: Consumer Sentiment Continues to sour. It is the Economy! You know it now!
Page A3: California cities cut police budgets: Would the criminals be in a relaxing mood to do whatever they see fit such as obtaining money from others in an involuntary way or some other forms of crimes with ease!?
Page A9: Regulators detained by China in probe e.g. Avon direct selling from USA may be an issue? Details may be found in due course of time after due process of law.
Media reports from Shanghai re health: Shanghai, Nanjing and Chengdu have said that local authorities are carrying out tests on eggs and seafood in connection with animal feed.
Page A16: Vernon Smith, Nobel winner in Economic Science wrote: "The reality of our political economy with various idealizations, but with the litter of human experiment in political economy that have delivered far more suffering than human betterment to the citizen." Prof. Smith favors making individual savings and direct investments deductible from income for tax purpose." I would envision the proper investment in human capital i.e. the cost for education and training to be deducted for tax purposes. In doing so, poor folks would be able to afford to studies for personal enrichment and marketable skills. Funding from the goverment would produce more skilled workers for the nation. Such reasoning may be traced back to my previous blogs.
SEQUEL to the above paragraph: Page C1 " China's habit on savings offers a lesson:
Americans haven't been saving. The percentage of disposable income after spending was 1.3% in the 3rd Quarter down from 2.7% in the 2nd Quarter. By comparison, the rate is more than 40% in China which finances much of America's deficit spending. Mark Gongloff said "Consumption sector could be more like China. Such rationale is similar and identical with my past blogs apropos of lifestyle of the folks as part and parcel of Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao,a graduate student from China in 1947 with lifestyle of a lifelong student to be frugal even though the cost of living in US and in China is getting higher as I have observed lately. October 31, 2008 at 3.26 p.m.
Friday, October 31, 2008
Obama the clear favorite among federal workers et al
Washington Post, Oct.31, 2008 on page D3: " As federal employees, our members have witnessed first-hand the devastating impact of the Bush administration's misguided policies, but with Senator Obama, we can right the direction of this country," John Gage, president of the American Federation of Government Employees,said when the union made its enforsement in the primary.
Page D1: Exxon breaks its record quarterly profit: Oil prices push income to $14.83 billion. The new president may see fit to redistribute wealth of the nation to the wealth of the folks. That remains to be seen in the days to come.
Economists, who still argue over what caused the Great Depression, say it is far too early to tell what is clear is that key financial indicators of the credit crisis sometimes jump or dive depending on the government' actions.
Professor John Kenneth Galbraith is still correct in saying that there are those who don't know and those who don't know they don't know. Trick or Treat. Happy Halloween! Trick to the folks with clout with treat of the hole of the donut to the ordinary folks without financial power in humor if detected.
Page B3: Lincoln's birthday is February 12th. The Library of Congress has a copy of the Gettysburg Address, I had to memorize such when I was a high school student in Shanghai, China. Here is the meeting ground of Sino-American Economics i.e. of the folks,by the folks and for the folks apropos of the money folks seek. A bit of modification maybe timely during the election time, and Lincoln's spirit would be known to the world on Nov.4th 2008.
Page A10:
"China, India and Russia ascending to new positions of power, a shift being driven by a massive transfer of wealth and manufacturing capability from the West to Eastern nations, particularly China. China is poised to have more impact on the world over the next 20 years than any other country. China will also start becoming a major military power by 2025 and will likely be the world's largest importer of natural resources and the largest contributor to pollution." My comment: There are pluses and minuses but the Chinese language is a form of art and a form of music for art and music lovers in the world. "A Glimpse of the Chinese Language" (www.rand.org for a free copy via PDF at the RAND Corporation,Santa Monica,California) The work is dedicated for better understanding of China when the above description of China is understood by thinkers with vision to future years.
Francis Shieh a.k.a. Xie Shihao, a believer with faith, hope and love of equal opportunity for all folks on earth.
October 31, 2008 at 10.55 a.m.
Page D1: Exxon breaks its record quarterly profit: Oil prices push income to $14.83 billion. The new president may see fit to redistribute wealth of the nation to the wealth of the folks. That remains to be seen in the days to come.
Economists, who still argue over what caused the Great Depression, say it is far too early to tell what is clear is that key financial indicators of the credit crisis sometimes jump or dive depending on the government' actions.
Professor John Kenneth Galbraith is still correct in saying that there are those who don't know and those who don't know they don't know. Trick or Treat. Happy Halloween! Trick to the folks with clout with treat of the hole of the donut to the ordinary folks without financial power in humor if detected.
Page B3: Lincoln's birthday is February 12th. The Library of Congress has a copy of the Gettysburg Address, I had to memorize such when I was a high school student in Shanghai, China. Here is the meeting ground of Sino-American Economics i.e. of the folks,by the folks and for the folks apropos of the money folks seek. A bit of modification maybe timely during the election time, and Lincoln's spirit would be known to the world on Nov.4th 2008.
Page A10:
"China, India and Russia ascending to new positions of power, a shift being driven by a massive transfer of wealth and manufacturing capability from the West to Eastern nations, particularly China. China is poised to have more impact on the world over the next 20 years than any other country. China will also start becoming a major military power by 2025 and will likely be the world's largest importer of natural resources and the largest contributor to pollution." My comment: There are pluses and minuses but the Chinese language is a form of art and a form of music for art and music lovers in the world. "A Glimpse of the Chinese Language" (www.rand.org for a free copy via PDF at the RAND Corporation,Santa Monica,California) The work is dedicated for better understanding of China when the above description of China is understood by thinkers with vision to future years.
Francis Shieh a.k.a. Xie Shihao, a believer with faith, hope and love of equal opportunity for all folks on earth.
October 31, 2008 at 10.55 a.m.
Wall St.Journal,USAToday,Oct.30, 2008
Page A1 Wall Street Journal: US is joined in key rate cuts by China i.e. FED and China People Bank(CPB)the Central Bank work in the same direction to try to solve financial crisis due to global slowdown. Doubts linger on easing's impact,however. As to currency exchange rate,the time-honored Law of Demand and Supply should be noted but the Bank of Japan intervened due to high value of the Japanese currency. Food for thought for leaders to understand such intervention before bashing Japan or China in fairness.
USA Today's Headline published the rate cuts same as WSJ.
Sequel to the prior blogs: Radio says Obama is ahead in polls due to the state of the economy. Voters trust Obama for his direction as a leader. However, Nov.4th is the date to watch for the final counting of the votes.
Francis Shieh a.k.a. Xie Shihao, a blogger to keep readers posted from media with comments. Oct.31,2008 i.e. Happy Halloween. Trick or Treat for kids and adults alike to watch the gritty scenes in this mundane world. But folks with wisdom would stress spirituality for peace and equanimity plus fortitude. At 6.15 a.m.
USA Today's Headline published the rate cuts same as WSJ.
Sequel to the prior blogs: Radio says Obama is ahead in polls due to the state of the economy. Voters trust Obama for his direction as a leader. However, Nov.4th is the date to watch for the final counting of the votes.
Francis Shieh a.k.a. Xie Shihao, a blogger to keep readers posted from media with comments. Oct.31,2008 i.e. Happy Halloween. Trick or Treat for kids and adults alike to watch the gritty scenes in this mundane world. But folks with wisdom would stress spirituality for peace and equanimity plus fortitude. At 6.15 a.m.
Thursday, October 30, 2008
The Stimulus Plan We Need Now by Martin Feldstein
Washington Post,Oct.30, 2008 on page A23.
Prof. Feldstein of Harvard is an advisor to the McCain campaign. He wrote: "The only way to prevent a deepening recession will be a temporary program of increased government spending to stimulate economic recovery for infrastructure such as bridges and roads to contribute to long-term productivity." I shall vote for Obama and I am convinced that Obama would stress education and training of skilled labor to supply the demand of a changing society for enhancing productivity either in the short run or in the long run. Such is the sequel of the prior blogs for economic recovery. Three Georgetown professor published their views with the same rationale in the Outlook Section of the Washington Post,Oct.19, 2008. The economy is facing severe challenges in the G sector of the Aggregate Demand such as the wars in Iraq and Afghanistan. It is to be noted that AG= C+I+G+(X-M) Consumption sector with 2/3rd of GDP may be boosted but folks are not spending. Investment sector appears to wait for the right direction during the financial crisis. Net Exports would be unclear at this point. I have reason to believe that after the election on Nov.4th, the new president would provide such directions. That remains to be seen during the course of time.
Francis Shieh, a long-term student of economics sending this blog for the readers.
October 30, 2008 at 12.36 p.m.
Prof. Feldstein of Harvard is an advisor to the McCain campaign. He wrote: "The only way to prevent a deepening recession will be a temporary program of increased government spending to stimulate economic recovery for infrastructure such as bridges and roads to contribute to long-term productivity." I shall vote for Obama and I am convinced that Obama would stress education and training of skilled labor to supply the demand of a changing society for enhancing productivity either in the short run or in the long run. Such is the sequel of the prior blogs for economic recovery. Three Georgetown professor published their views with the same rationale in the Outlook Section of the Washington Post,Oct.19, 2008. The economy is facing severe challenges in the G sector of the Aggregate Demand such as the wars in Iraq and Afghanistan. It is to be noted that AG= C+I+G+(X-M) Consumption sector with 2/3rd of GDP may be boosted but folks are not spending. Investment sector appears to wait for the right direction during the financial crisis. Net Exports would be unclear at this point. I have reason to believe that after the election on Nov.4th, the new president would provide such directions. That remains to be seen during the course of time.
Francis Shieh, a long-term student of economics sending this blog for the readers.
October 30, 2008 at 12.36 p.m.
C-Span Radio re Congressional Hearing:Economic Recovery
Several experts provided their views about fiscal policy and monetary policy in their testimony. To my recollection, I exchanged my view with Arthur Burns decades ago apropos of efficacy of the policies. He shared with me about my thoughts on human capital. He said that I am on the right track in emphasizing structural problems. Monetary and fiscal policies do not function in a vacuum. To wit:
1. "The Future of Community Colleges" published by the Congressional Record,July 18, 1974.
2. Keys for Economic Understanding. 197l.
3. Keys to Economic Understanding. 1976.
4. Work and Study Cycle Theory. 1978.
These publications may be searched online www.ask.com or www.Amazon.com for reference.
Three Georgetown University professors recommended ways and means for economic recovery. Their views dovetailed the above works. Cf. Washington Post,OUTLOOK section,Oct. 19, 2008.
Francis Shieh,a blogger to share views with readers for Sino-American Economics apropos of economic recovery. October 30, 2008 at 7 a.m.
1. "The Future of Community Colleges" published by the Congressional Record,July 18, 1974.
2. Keys for Economic Understanding. 197l.
3. Keys to Economic Understanding. 1976.
4. Work and Study Cycle Theory. 1978.
These publications may be searched online www.ask.com or www.Amazon.com for reference.
Three Georgetown University professors recommended ways and means for economic recovery. Their views dovetailed the above works. Cf. Washington Post,OUTLOOK section,Oct. 19, 2008.
Francis Shieh,a blogger to share views with readers for Sino-American Economics apropos of economic recovery. October 30, 2008 at 7 a.m.
Wednesday, October 29, 2008
USAToday,Investor's BusDaily and WSJ,Oct.29, 2008
USA Today Oct.29,08 page 11A: A campaign of history: The 2008 presidential contest will go down as one of the most interesting, and most important races(two interpretations of 'races" if or when detected) of at least the past half century. Why? Major crisis,compelling debates, and strong - indeed, historic candidates.
Page lB: Measures of consumer confidence hits lowest point. Report does not bode well for holiday spending as per New York-based Conference Board's Consumer Research Center. GDP would be affected from the consumption sector i.e.2/3rd of GDP.
Investor's Business Daily page A5: Hard learning curve in teaching English to Chinese students. Industry executive see a huge growth opportunity that can be recession-proof. According to San Francisco-based research with Signal Hill Capital Partner: The market for teaching Chinese student,including adults,the English language is expected to reach 3.3 billion in 2009. Teaching English in China is fun as I taught in Hong Kong as a Fulbright Senior Scholar,1989-1990 and as an American Expert in Guangzhou,1992-1993 and in Beijing,1993-1996.
Wall Street Journal, Oct.29, 2008 page A3: Economists search for end of woes,turning to home vacancy rates and foreign stock market. I would search for job prospects as an important indicator of the trend of the economy.
Page A11: Russia sets pipeline deal with China for economic cooperation. Reference for American interest apropos of Sino-American Economics.
Page A17 Most Presidents ignore the Constitution by the senior judicial analyst at the Fox News. Senator Obama challenged the constitutionality of equality as the sequel of my prior blog. To me,taking an oath to uphold the Constitution should be honored without reservation.
Page A18: Former President Clinton starts Asian Charity Forum in Hong Kong, December 1-2, 2008. Reason: Global economy and the West and the East are One in one world. Page B6A Japanese cosmetics maker Shiseido leans more on China for bright spots with growing demand. Such is savvy decision in the name of globalization of economics for US reference in the 21st century. Ladies would look beautifully spiffy with cosmetics everywhere. Nobody would impugn,indeed.
Francis Shieh a.k.a. Xie Shihao, an octogenarian observer of economic globalization for Sino-American Economics.
October 29, 2008 at 2.50 p.m.
Page lB: Measures of consumer confidence hits lowest point. Report does not bode well for holiday spending as per New York-based Conference Board's Consumer Research Center. GDP would be affected from the consumption sector i.e.2/3rd of GDP.
Investor's Business Daily page A5: Hard learning curve in teaching English to Chinese students. Industry executive see a huge growth opportunity that can be recession-proof. According to San Francisco-based research with Signal Hill Capital Partner: The market for teaching Chinese student,including adults,the English language is expected to reach 3.3 billion in 2009. Teaching English in China is fun as I taught in Hong Kong as a Fulbright Senior Scholar,1989-1990 and as an American Expert in Guangzhou,1992-1993 and in Beijing,1993-1996.
Wall Street Journal, Oct.29, 2008 page A3: Economists search for end of woes,turning to home vacancy rates and foreign stock market. I would search for job prospects as an important indicator of the trend of the economy.
Page A11: Russia sets pipeline deal with China for economic cooperation. Reference for American interest apropos of Sino-American Economics.
Page A17 Most Presidents ignore the Constitution by the senior judicial analyst at the Fox News. Senator Obama challenged the constitutionality of equality as the sequel of my prior blog. To me,taking an oath to uphold the Constitution should be honored without reservation.
Page A18: Former President Clinton starts Asian Charity Forum in Hong Kong, December 1-2, 2008. Reason: Global economy and the West and the East are One in one world. Page B6A Japanese cosmetics maker Shiseido leans more on China for bright spots with growing demand. Such is savvy decision in the name of globalization of economics for US reference in the 21st century. Ladies would look beautifully spiffy with cosmetics everywhere. Nobody would impugn,indeed.
Francis Shieh a.k.a. Xie Shihao, an octogenarian observer of economic globalization for Sino-American Economics.
October 29, 2008 at 2.50 p.m.
Sequel to Presidential Candidate Obama
Washington Post, Oct.29, 2008 on page B1,B3: The headline reads: -
"Obama win would not end racism - but it could be beginning of its end. With Obama's progress,change already begun": It would be desirable to review our Constitution to honor the supreme law of the land to provide equal opportunity for all Americans in the 21st century.
"A black president of the United States who had been a community organizer in poor neighboods, married into a working class black family advocating that government do more to provide jobs, better education and health care while calling for black parents to do more to help their children succeed." My comment: For all parents: be they black,white,yellow or brown in our colorful America in the mundane world on earth.
Better education and health: The improvement of human capital as a field of economics is the goal of parents in USA and in China under the influence of Confucianism across the Pacific Ocean(i.e. Confucius advocates his thought that all folks are brothers(sisters) within four seas from the original version. Such is the aphorism in Christianity or other religions for the good leader in USA or China with spirituality as the proper cultural heritage toward all folks regardless the state of their economic status.
Francis Shieh a.k.a. Xie Shihao, a lifelong octogenarian student of comparative philosophy.
October 29, 2008 at 9.46 a.m.
"Obama win would not end racism - but it could be beginning of its end. With Obama's progress,change already begun": It would be desirable to review our Constitution to honor the supreme law of the land to provide equal opportunity for all Americans in the 21st century.
"A black president of the United States who had been a community organizer in poor neighboods, married into a working class black family advocating that government do more to provide jobs, better education and health care while calling for black parents to do more to help their children succeed." My comment: For all parents: be they black,white,yellow or brown in our colorful America in the mundane world on earth.
Better education and health: The improvement of human capital as a field of economics is the goal of parents in USA and in China under the influence of Confucianism across the Pacific Ocean(i.e. Confucius advocates his thought that all folks are brothers(sisters) within four seas from the original version. Such is the aphorism in Christianity or other religions for the good leader in USA or China with spirituality as the proper cultural heritage toward all folks regardless the state of their economic status.
Francis Shieh a.k.a. Xie Shihao, a lifelong octogenarian student of comparative philosophy.
October 29, 2008 at 9.46 a.m.
Charles Mathias,Jr.: My Choice: Obama
Republican representative in the House, 1961-68 and Senator of Maryland in 1969 to 1986 published his reasoning in the Washington Post,Oct.28,08 page A17:
"Americans will face a momentous choice. We must decide which of two talented, patriotic individuals is better suited to set the course for the nation and steer it through a stormy sea.
My decision is based on the long range needs of our country and which of these two candidates I feel is better suited to recharge America's economic health, restore its prestige abroad and inspire anew all people who cherish freedom and equality. For me, that person is Barrack Obama. I believe that Obama's inspirational leadership, contemplative nature and well-reasoned, forward-looking policies offer our troubled nation a real opportunity to face and overcome its many challenges at home and abroad. The fact that he is also a black American adds special significance for me as someone who was witness to and particiopated in at least a part of the past century's discourse on civil rights." www.washpost.com for details.
Phoenix TV showed the survey that folks in China prefer Obama as the next president of the United States by coincidence or serendipity. Let us wait for the election result on Nov. 4, 2008. Here is another chapter of Sino-American Economics.(sic)
Francis Shieh a.k.a. Xie Shihao, an Asian American of Chinese ancestry. I share the spirit of Civil Rights Act for all Americans to have equal opportunity to make contributions without discrimination such as race,color,age or national origin et al. Such legal rights are specifically stated in the Constitution of the United States,Amendment XIV. "Citizenship Rights not to be abridged." Section 1. All persons born or naturalized in the United States, and subject to the jurisdiction thereof,are citizens of the United States and of the State wherein they reside.
The case rests here for readers to ponder and reflect the Spirit of America with our own spirituality as homosapiens on earth.
October 29, 2008 at 6.38 a.m.
"Americans will face a momentous choice. We must decide which of two talented, patriotic individuals is better suited to set the course for the nation and steer it through a stormy sea.
My decision is based on the long range needs of our country and which of these two candidates I feel is better suited to recharge America's economic health, restore its prestige abroad and inspire anew all people who cherish freedom and equality. For me, that person is Barrack Obama. I believe that Obama's inspirational leadership, contemplative nature and well-reasoned, forward-looking policies offer our troubled nation a real opportunity to face and overcome its many challenges at home and abroad. The fact that he is also a black American adds special significance for me as someone who was witness to and particiopated in at least a part of the past century's discourse on civil rights." www.washpost.com for details.
Phoenix TV showed the survey that folks in China prefer Obama as the next president of the United States by coincidence or serendipity. Let us wait for the election result on Nov. 4, 2008. Here is another chapter of Sino-American Economics.(sic)
Francis Shieh a.k.a. Xie Shihao, an Asian American of Chinese ancestry. I share the spirit of Civil Rights Act for all Americans to have equal opportunity to make contributions without discrimination such as race,color,age or national origin et al. Such legal rights are specifically stated in the Constitution of the United States,Amendment XIV. "Citizenship Rights not to be abridged." Section 1. All persons born or naturalized in the United States, and subject to the jurisdiction thereof,are citizens of the United States and of the State wherein they reside.
The case rests here for readers to ponder and reflect the Spirit of America with our own spirituality as homosapiens on earth.
October 29, 2008 at 6.38 a.m.
Tuesday, October 28, 2008
WSJ,NYTimes and IBD,Oct.28,2008
Wall Street Journal,Oct.28th page A1: Consumer Confidence likely to take a hit but stocks rebound - Dow up 270 points as of 2 p.m.
Page A10: European Central Bank (ECB) signals a rate cut for next week. US follows suit?
New York Times,Oct.28th page A23:
The beavioral revolution: Decision making steps:
1. Perceive a situation.
2. Possible course of action.
3. Calculate in the best interest.
4 Take the action.
Financial crisis is amount to a coming out party for behavioiral economists. I do concur via my prior blogs.
This meltdown is not just a financial event, but reveals about human frailty as a part of culture.(lifestyle) Human mind is trying to perceive things with varied tradition and culture.
USA Today, Oct.28th
Page 4A: We are voting for Obama from Republicans: A statement to vote for Obama. We need a president with sound judgment and steady leadership. Obama can bridge nation's racial divide by virtue of his background on Page 11A.
Page 1B: Majority of economists back 2nd stimulus bill i.e. tax cuts extension of unemployment benefits and funds for infrastructure i.e. roads and bridges. I would recommend rebate checks. Let us see the decision soon?
Page B12: Twenty Rules for investment success. Q.E.D.(to be shown)
Page A5 China's website: sohu made profits (quadruples) from game business.
Francis Shieh a.k.a. Xie Shihao. October 28, 2008 at 2.52 p.m.
Page A10: European Central Bank (ECB) signals a rate cut for next week. US follows suit?
New York Times,Oct.28th page A23:
The beavioral revolution: Decision making steps:
1. Perceive a situation.
2. Possible course of action.
3. Calculate in the best interest.
4 Take the action.
Financial crisis is amount to a coming out party for behavioiral economists. I do concur via my prior blogs.
This meltdown is not just a financial event, but reveals about human frailty as a part of culture.(lifestyle) Human mind is trying to perceive things with varied tradition and culture.
USA Today, Oct.28th
Page 4A: We are voting for Obama from Republicans: A statement to vote for Obama. We need a president with sound judgment and steady leadership. Obama can bridge nation's racial divide by virtue of his background on Page 11A.
Page 1B: Majority of economists back 2nd stimulus bill i.e. tax cuts extension of unemployment benefits and funds for infrastructure i.e. roads and bridges. I would recommend rebate checks. Let us see the decision soon?
Page B12: Twenty Rules for investment success. Q.E.D.(to be shown)
Page A5 China's website: sohu made profits (quadruples) from game business.
Francis Shieh a.k.a. Xie Shihao. October 28, 2008 at 2.52 p.m.
Deleveraging: The Pullback by investors
Washington Post, October 28, 2008 on page A9: "Deleveraging is extending massive losses on global stock markets, the Hong Kong stock market had its biggest one-day percentage drop since 1989, and Tokyo's Nikkei fell to its lowest level in 20 years. This situation is affecting currency markets, with economists warning of a growing disequilibrium in global exchange rates.
However, US Dollar is thought to be a more reliable than most other currencies, with the rush to the dollar sending its value soaring against the Euro, the British pound and a host of emerging market coins in recent weeks."
Some economists hold traveler's checks in US Dollars without interest but as a safe investment still instead of downward trebd of stocks. It is up to the mindset of the investors.
Contribution from China would be expected with cash reserves if approved by authorities in China. China's retail sales are still doing well but credit worries causing retail slump in America. Such situation threatens businesses during the Yuletide 2008.
Economist Sasajima of Meiji Gakuin University in Tokyo said: "Our society is definitely becoming a class society." i.e. a widening income gap in Japan. In the US,such situation can be noted as well. Presidential candidate Obama wants to have CHANGE with redistribution of wealth in USA. UN declared that China is a more egalitarian society i.e. Middle class folks are gaining momentum but not in the United States. I have reason to believe that situation will change after election next Tuesday, Nov.4th to search for a better America with more equitable distribution of income and wages in a society of more folks in the middle class as the backbone for peace and economic development.
C. Fred Bergsten, director of the Peterson Institution for International Economics reasoned that as the currencies go down, the debt in dollars for emerging economics is going up substantially and that is very much like what happened a decade ago in the Asian financial crisis. It is a "fear" that could happen again. China is robust with a vision since June to manage macroeconomic policy as stated by Premier Wen via Phoenix TV, Hong Kong on October 28, 2008.
My comment: It is up to the actions of folks for their reactions of their behavior during such tough times of global problems. Needless to say, the actions by most governments and IMF should solve some problems during the course of time. We need to watch the developments as time goes by.
Francis Shieh a.k.a. Xie Shihao as a lifelong student of economics to learn the events from empirical evidence.
Tuesday, October 28, 2008 at 10.55 a.m.
However, US Dollar is thought to be a more reliable than most other currencies, with the rush to the dollar sending its value soaring against the Euro, the British pound and a host of emerging market coins in recent weeks."
Some economists hold traveler's checks in US Dollars without interest but as a safe investment still instead of downward trebd of stocks. It is up to the mindset of the investors.
Contribution from China would be expected with cash reserves if approved by authorities in China. China's retail sales are still doing well but credit worries causing retail slump in America. Such situation threatens businesses during the Yuletide 2008.
Economist Sasajima of Meiji Gakuin University in Tokyo said: "Our society is definitely becoming a class society." i.e. a widening income gap in Japan. In the US,such situation can be noted as well. Presidential candidate Obama wants to have CHANGE with redistribution of wealth in USA. UN declared that China is a more egalitarian society i.e. Middle class folks are gaining momentum but not in the United States. I have reason to believe that situation will change after election next Tuesday, Nov.4th to search for a better America with more equitable distribution of income and wages in a society of more folks in the middle class as the backbone for peace and economic development.
C. Fred Bergsten, director of the Peterson Institution for International Economics reasoned that as the currencies go down, the debt in dollars for emerging economics is going up substantially and that is very much like what happened a decade ago in the Asian financial crisis. It is a "fear" that could happen again. China is robust with a vision since June to manage macroeconomic policy as stated by Premier Wen via Phoenix TV, Hong Kong on October 28, 2008.
My comment: It is up to the actions of folks for their reactions of their behavior during such tough times of global problems. Needless to say, the actions by most governments and IMF should solve some problems during the course of time. We need to watch the developments as time goes by.
Francis Shieh a.k.a. Xie Shihao as a lifelong student of economics to learn the events from empirical evidence.
Tuesday, October 28, 2008 at 10.55 a.m.
Monday, October 27, 2008
New York Times,Wall Street Journal,Oct.27,08
NYTimes page A17: Emphasizing Frugal Tastes: Palin addreses clothing issue: She said she had a $35 wedding ring from Hawaii that she had bought herself. Mr. McCain said:"Look,she lives a frugal life." I have sent my blogs about frugality for reference. However, I shall vote for a person born in Hawaii as my personal preference as an honorary citizen of Hawaii.
USAToday,Oct.27 08: Voters anger has Dems set for big gains in Congress. I am not really angry but I expect big gains for Democrats in Congress.
Page A22: Editorial - "As China Goes,So Goes... China's decision could affect how other nations fare in the downturn. China has built up an enormous trade surplus that will hit about $400 billion this year." After years of Congressional China bashing, China has resisted such problems from REAL ECONOMICS such as trade surplus with money to spare. China's investment in health care and education has helped the development of China's middle class. However,middle class in USA is shrinking as per research findings from Brookings Institution. "By raising China's imports, China would help the rest of the world." so stated in the Editorial.
WSJ,Oct.27,08 Page A19 Economist Arthur Laffer: The Age of Prosperity is Over with a comic figure resembling Hobo: Bush will be remembered as Hoover.(recommended article to read online.)
WSJ,Oct,27,08 Page A8: China backs Europe Push for Oversight. Photo of Premier Wen was published but the caption reads President Hu. Perhaps the faces look alike to the editors but I can tell the difference. Correction may be needed for accuracy.
Francis Shieh a.k.a. Xie Shihao,a reader of WSJ. I have noticed the difference with my ethnic background for different faces.
Monday, October 27, 2008 at 2.45 p.m.
USAToday,Oct.27 08: Voters anger has Dems set for big gains in Congress. I am not really angry but I expect big gains for Democrats in Congress.
Page A22: Editorial - "As China Goes,So Goes... China's decision could affect how other nations fare in the downturn. China has built up an enormous trade surplus that will hit about $400 billion this year." After years of Congressional China bashing, China has resisted such problems from REAL ECONOMICS such as trade surplus with money to spare. China's investment in health care and education has helped the development of China's middle class. However,middle class in USA is shrinking as per research findings from Brookings Institution. "By raising China's imports, China would help the rest of the world." so stated in the Editorial.
WSJ,Oct.27,08 Page A19 Economist Arthur Laffer: The Age of Prosperity is Over with a comic figure resembling Hobo: Bush will be remembered as Hoover.(recommended article to read online.)
WSJ,Oct,27,08 Page A8: China backs Europe Push for Oversight. Photo of Premier Wen was published but the caption reads President Hu. Perhaps the faces look alike to the editors but I can tell the difference. Correction may be needed for accuracy.
Francis Shieh a.k.a. Xie Shihao,a reader of WSJ. I have noticed the difference with my ethnic background for different faces.
Monday, October 27, 2008 at 2.45 p.m.
A Democratic Kentucky Colonel watching Kentucky show
Washington Post, Oct. 27, 2008 on page A1,A5: Sino-American relations from matrimony
McConnell needs Kentucky to deliver: Minority leader fights for survival.
McConnell Tries to limit Democratic Senate Control.
McConnell's wife, Labor Secretary Elaine L. Chao,an American citizen from Taiwan of Chinese ancestry, has been blasted for being on the campaign trail at a time of rising unemployment. She travels with her husband to each stop,describing "my low maintenance husband who does his own laundry, picks up his own dry-cleaning and cooks well." Perhaps such remarks would have some impact on the seat in the Senate?! POLITICS in action?! Readers of this blog can make comments from your reaction to Elaine Chao's statement. She meant a good husband can be a good Senator as well. What do you think? Hehehahahoho all the way and we shall strive to live to be centenarians with fun in the political season. Vote on Nov.4th for Obama for change or McCain for Bush's legacy. Have a great day and keep smiling to have longevity.
Francis Shieh,a Kentucky Colonel for peace and economic development since 1970 doing eleemosynary work for Kentucky or for USA. Monday, October 27, 2008 at 9.30 a.m.
McConnell needs Kentucky to deliver: Minority leader fights for survival.
McConnell Tries to limit Democratic Senate Control.
McConnell's wife, Labor Secretary Elaine L. Chao,an American citizen from Taiwan of Chinese ancestry, has been blasted for being on the campaign trail at a time of rising unemployment. She travels with her husband to each stop,describing "my low maintenance husband who does his own laundry, picks up his own dry-cleaning and cooks well." Perhaps such remarks would have some impact on the seat in the Senate?! POLITICS in action?! Readers of this blog can make comments from your reaction to Elaine Chao's statement. She meant a good husband can be a good Senator as well. What do you think? Hehehahahoho all the way and we shall strive to live to be centenarians with fun in the political season. Vote on Nov.4th for Obama for change or McCain for Bush's legacy. Have a great day and keep smiling to have longevity.
Francis Shieh,a Kentucky Colonel for peace and economic development since 1970 doing eleemosynary work for Kentucky or for USA. Monday, October 27, 2008 at 9.30 a.m.
Project HOPE,US-based foundation in China
Project Hope celebrates 25 years of improving health in China:
It was first invited to work in China by the Shanghai Second Medical University and Xin Hua Hospital to help establish a pediatric cardiovascular medical center.
A crowning achievement of HOPE's 25-year history in China is the Shanghai Children's Medical Center (SCMC). It has obtained more than $30 million in medical equipment from its corporate partners for the hospital. The equipment, which includes items such as monitors and infusion pumps, as well as large scale imaging tools, are used to treat and save the lives of the more than 7,000 pediatric cardiovascular patients that come to SCMC every year.
America is a friend of China and China will join USA for financial and credit crisis in the days to come for global cooperation and collaboration on both sides of the Pacific in the 21st century.
Francis Shieh a.k.a. Xie Shihao, a native of Shanghai, watching the positive development of Sino-American Economics of Health for wellness of humanity with heartfelt sentiment.
Monday, October 27, 2008 at 6.50 a.m.
It was first invited to work in China by the Shanghai Second Medical University and Xin Hua Hospital to help establish a pediatric cardiovascular medical center.
A crowning achievement of HOPE's 25-year history in China is the Shanghai Children's Medical Center (SCMC). It has obtained more than $30 million in medical equipment from its corporate partners for the hospital. The equipment, which includes items such as monitors and infusion pumps, as well as large scale imaging tools, are used to treat and save the lives of the more than 7,000 pediatric cardiovascular patients that come to SCMC every year.
America is a friend of China and China will join USA for financial and credit crisis in the days to come for global cooperation and collaboration on both sides of the Pacific in the 21st century.
Francis Shieh a.k.a. Xie Shihao, a native of Shanghai, watching the positive development of Sino-American Economics of Health for wellness of humanity with heartfelt sentiment.
Monday, October 27, 2008 at 6.50 a.m.
Sunday, October 26, 2008
New York Times,Oct.26, 2008 page A1.WashPost Headline
"Leaders of Europe and Asia call for joint economic action:
China expands its role as a counterweight to the world." Headlines in NYTimes.
Business section page 1 and 6:
Economic View: N. Gregory Mankew of Harvard University: -
"...Modern economists armed with the data from the time would not have forecast much better. In other words, even if another Depression were around the corner, you shouldn't expect much advance warning from the economic profession. We have indeed learned a lot over the last 80 years. But you should take that economic forecast, like all others, with more than a single gram of salt." I repeat that Economics is an inexact science(change and choice). Science is knowledge per se indeed!
Professor John K. Galbraith is still right in saying that there are those who don't know and those who don't know they don't know. My blog ends here for your reference.
Washington Post,Oct.26,2008 page A1" News from Shanghai: - As shock waves from the credit crisis began to spread around the world last month, China scrambled to protect itself. Among the most extreme measures it took was to impose new expert taxes to keep critical supplies such as grains and fertilizer from leaving the country."
Francis Shieh a.k.a. Xie Shihao, a native of Shanghai but came to USA as a graduate student in 1947. October 26, 2008 at 5.38 p.m.
China expands its role as a counterweight to the world." Headlines in NYTimes.
Business section page 1 and 6:
Economic View: N. Gregory Mankew of Harvard University: -
"...Modern economists armed with the data from the time would not have forecast much better. In other words, even if another Depression were around the corner, you shouldn't expect much advance warning from the economic profession. We have indeed learned a lot over the last 80 years. But you should take that economic forecast, like all others, with more than a single gram of salt." I repeat that Economics is an inexact science(change and choice). Science is knowledge per se indeed!
Professor John K. Galbraith is still right in saying that there are those who don't know and those who don't know they don't know. My blog ends here for your reference.
Washington Post,Oct.26,2008 page A1" News from Shanghai: - As shock waves from the credit crisis began to spread around the world last month, China scrambled to protect itself. Among the most extreme measures it took was to impose new expert taxes to keep critical supplies such as grains and fertilizer from leaving the country."
Francis Shieh a.k.a. Xie Shihao, a native of Shanghai but came to USA as a graduate student in 1947. October 26, 2008 at 5.38 p.m.
"Gotcha Capitalism" by Bob Sullivan
Published by Ballantine Books, New York 2007 $14.95
To Loyola, Patron Saint of Reformation from Within.
Sullivan wrote: "I love our country, and our way of life. I even love capitalism though after reading this book,you may question that. But let me make my case for that this way. Gandhi once said he might become a Christian if he ever met one; I would support a free market if I ever saw one. Instead, our economy is laced with unchecked unfairness." Think about the headlines lately about the state of the economy to find out the real economics in US and other nations in the world.
Connecticut Attorney General Richard Blumenthal said: "Competing by cheating has become a way of life for ...many of these corporations, many of the most reputable of them. Because it's done by AT&T, MCI or Sprint et al people are reluctant to use that word, but when all is said and done...these are scams." Former FED chairman Greenspan's testimony in Congress is another reinforcement of the same rationale plus the campaign charges by both Obama and McCain about the greed and other negative sides of human behavior published by the media.
The recent financial crisis may be regarded as a sequel of the rationale above by Sullivan and Blumenthal as published in "Gotcha Capitalism" Moreover,the campaign buzzwords we have heard would also be relevant to the author of the book. We need change in America. Let us see the outcome after election on Nov.4th and the inauguration of the new President on January 20, 2009
I have sent my blogs about my views for making comparisons with other thinkers.
Francis Shieh a.k.a. Xie Shihao wishing to compare notes to learn the truth unless truth is multi-dimensional. (sic) Sunday, October 26, 2008 at 1.30 p.m.
To Loyola, Patron Saint of Reformation from Within.
Sullivan wrote: "I love our country, and our way of life. I even love capitalism though after reading this book,you may question that. But let me make my case for that this way. Gandhi once said he might become a Christian if he ever met one; I would support a free market if I ever saw one. Instead, our economy is laced with unchecked unfairness." Think about the headlines lately about the state of the economy to find out the real economics in US and other nations in the world.
Connecticut Attorney General Richard Blumenthal said: "Competing by cheating has become a way of life for ...many of these corporations, many of the most reputable of them. Because it's done by AT&T, MCI or Sprint et al people are reluctant to use that word, but when all is said and done...these are scams." Former FED chairman Greenspan's testimony in Congress is another reinforcement of the same rationale plus the campaign charges by both Obama and McCain about the greed and other negative sides of human behavior published by the media.
The recent financial crisis may be regarded as a sequel of the rationale above by Sullivan and Blumenthal as published in "Gotcha Capitalism" Moreover,the campaign buzzwords we have heard would also be relevant to the author of the book. We need change in America. Let us see the outcome after election on Nov.4th and the inauguration of the new President on January 20, 2009
I have sent my blogs about my views for making comparisons with other thinkers.
Francis Shieh a.k.a. Xie Shihao wishing to compare notes to learn the truth unless truth is multi-dimensional. (sic) Sunday, October 26, 2008 at 1.30 p.m.
A World in crisis means a chance for greatness
Robert Zoellick, President of the World Bank published the exciting title in the Washington Post,Oct.26,2008 on page B4 and I fully endorse such analysis. In my reasoning,any negative thought would be unhealthy and damaging to health,a field in the human capital of economics.
Aspirng US politicians dream of being FDR and the next president will have the chance to be a 21st century FDR. I have reason to believe that Obama is the one.
"The rise of China and India provides the world with multiple poles of growth that can halp a global recovery. American leaders can listen and learn from other world leaders. The new multilateralism will need to connect , for example,growth, development and trade et al." Cf. the prior blogs for growth,development and trade.
On page B8: "Along with Maryland Governor Martin O'Malley, we were students at Gonzaga College High School in Washington in the 1980s; O'Malley was in the class of 1981. Fr. Horace McKenna in a soup line in 1980(photo) He provided warm clothing and hot meals to the homeless(due to some kind of addiction) for good life-long work of mercy with AMDG and IHS" Written by Joseph Hennessey of Bethesda and David J. Collins,S.J. of Washington.
Such publication reminds me of my background as a student at Gonzaga College High School in Shanghai,China from 1942-1943 before my admission to St. John's University from 1943-1946 for my B.A. degree.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China to USF and Georgetown University for my graduate degree in 1950. Such past history comes to my mind vividly in my reading the story of Maryland Governor as a product of Jesuit education. This may serve as my blog for Sino-American Economics of Education in China and in USA from my personal academic experience.
Sunday, October 26, 2008 at 10.30 a.m
Aspirng US politicians dream of being FDR and the next president will have the chance to be a 21st century FDR. I have reason to believe that Obama is the one.
"The rise of China and India provides the world with multiple poles of growth that can halp a global recovery. American leaders can listen and learn from other world leaders. The new multilateralism will need to connect , for example,growth, development and trade et al." Cf. the prior blogs for growth,development and trade.
On page B8: "Along with Maryland Governor Martin O'Malley, we were students at Gonzaga College High School in Washington in the 1980s; O'Malley was in the class of 1981. Fr. Horace McKenna in a soup line in 1980(photo) He provided warm clothing and hot meals to the homeless(due to some kind of addiction) for good life-long work of mercy with AMDG and IHS" Written by Joseph Hennessey of Bethesda and David J. Collins,S.J. of Washington.
Such publication reminds me of my background as a student at Gonzaga College High School in Shanghai,China from 1942-1943 before my admission to St. John's University from 1943-1946 for my B.A. degree.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China to USF and Georgetown University for my graduate degree in 1950. Such past history comes to my mind vividly in my reading the story of Maryland Governor as a product of Jesuit education. This may serve as my blog for Sino-American Economics of Education in China and in USA from my personal academic experience.
Sunday, October 26, 2008 at 10.30 a.m
Phoenix TV Hong Kong,Oct.26,2008
Books recommended as best sellers: :
1. Karl Marx: Capitalism with K as the initial. The financial meltdown crisis appears to be the vision of Marx. The readers are entitled to make own analysis.
2. John Kenneth Galbraith: The Great Depression of 1929: The Harvard Professor analysed American Economy decades ago. A book review of "Almost Everyone's Guide to Economics" was published by Atlantic Economic Journal, Sept.1979 and may be searched online. Prof. Galbraith regarded Greenspan as an investment banker with private interest and Greenspan admitted his error recently to validate the criticism by Galbraith. Such view is included in "Keys to Economic Understanding" www.ask.com or www.Amazon.com for reference.
3. Paul Krugman: "The Great Unreveling" The Nobel Laureate in Economic Science blamed Bush for his failure to be the leader and he urged USA to include China as an important nation in global economy. His view can be reinforced by another Nobel winner George Stigler in his book entitled "Three Trillion Meltdown" to my best recollection.
I wish to mention the first Nobel Winner Tinbergen in 1969 for his "Theory of Convergence" to be validated and implemented of the so-called two systems i.e. capitalism and socialism with insightful observation nowadays. I would use Socio-Economics or the combo of public and private sector as we are witnessing the modifications in America today. Moreover,Prof.Schumpeter predicted that Socialism as the wave for the future when he was asked by students at Harvard. He made his interesting remarks:"My prediction is not necessarily my preference." aprops of capitalism and socialism as a conservative economist.
Perhaps "Work and Study Cycle Theory" Cf. www.ask.com may be validated and implemented in all nations since education and training are needed to enhance productivity in all nations for economic development. There is no label for being conservative or liberal in this respect. Such is my personal viewpoint re Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao,a student of economics to learn from other economists and to share their views with readers.
Sunday,Oct.26,2008 at 7 a.m.
1. Karl Marx: Capitalism with K as the initial. The financial meltdown crisis appears to be the vision of Marx. The readers are entitled to make own analysis.
2. John Kenneth Galbraith: The Great Depression of 1929: The Harvard Professor analysed American Economy decades ago. A book review of "Almost Everyone's Guide to Economics" was published by Atlantic Economic Journal, Sept.1979 and may be searched online. Prof. Galbraith regarded Greenspan as an investment banker with private interest and Greenspan admitted his error recently to validate the criticism by Galbraith. Such view is included in "Keys to Economic Understanding" www.ask.com or www.Amazon.com for reference.
3. Paul Krugman: "The Great Unreveling" The Nobel Laureate in Economic Science blamed Bush for his failure to be the leader and he urged USA to include China as an important nation in global economy. His view can be reinforced by another Nobel winner George Stigler in his book entitled "Three Trillion Meltdown" to my best recollection.
I wish to mention the first Nobel Winner Tinbergen in 1969 for his "Theory of Convergence" to be validated and implemented of the so-called two systems i.e. capitalism and socialism with insightful observation nowadays. I would use Socio-Economics or the combo of public and private sector as we are witnessing the modifications in America today. Moreover,Prof.Schumpeter predicted that Socialism as the wave for the future when he was asked by students at Harvard. He made his interesting remarks:"My prediction is not necessarily my preference." aprops of capitalism and socialism as a conservative economist.
Perhaps "Work and Study Cycle Theory" Cf. www.ask.com may be validated and implemented in all nations since education and training are needed to enhance productivity in all nations for economic development. There is no label for being conservative or liberal in this respect. Such is my personal viewpoint re Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao,a student of economics to learn from other economists and to share their views with readers.
Sunday,Oct.26,2008 at 7 a.m.
Saturday, October 25, 2008
Ted C. Fishman,author of China,Inc.,the best seller
USA Today,Oct.23,08 page 15A:
Retirees running out of time: Americans have lost at least $2 trillion from their retirement funds from August 2007. Dow was about 14,000 to below 9000,as per Congressional Budget Office.
Today's economic crisis is tomorrow's nightmare for millions of aging Americans whose nest eggs are suddenly cracked. I call such "boiled eggs after fire- crackers for sudden outburst" in humor.
The World Bank advocates mandatory savings. I would endorse Chinese tradition of saving as per the empirical evidence in China. Food for thought for all readers.
Francis Shieh a.k.a. Xie Shihao,a learner to be frugal but the cost of living in high in USA and in China as REAL ECONOMICS for Sino-American Economics in a nutshell.
October 25, 2008 at 3.12 p.m.
Retirees running out of time: Americans have lost at least $2 trillion from their retirement funds from August 2007. Dow was about 14,000 to below 9000,as per Congressional Budget Office.
Today's economic crisis is tomorrow's nightmare for millions of aging Americans whose nest eggs are suddenly cracked. I call such "boiled eggs after fire- crackers for sudden outburst" in humor.
The World Bank advocates mandatory savings. I would endorse Chinese tradition of saving as per the empirical evidence in China. Food for thought for all readers.
Francis Shieh a.k.a. Xie Shihao,a learner to be frugal but the cost of living in high in USA and in China as REAL ECONOMICS for Sino-American Economics in a nutshell.
October 25, 2008 at 3.12 p.m.
Wall Street Journal,New York Times,Oct.25, 2008
Page A1- WSJ Headline: "Fresh Tumult as Signs of Recession go Global. Fears of a prolonged recession pushed shares down across the world."
B2- US stocks are part of a global retreat in economics.( spiritual retreat may be timely for mental health)
B4B - Industrial and Commercial Bank of China (ICBC) Profit jumps 36%: Shanghai - China's largest financial institution had a robust result as China is the world's fastest growing major economy.
New York Times Oct.25,08: Editorial- "The next administration must reestablish equity of opportunity. Investment is desperately needed in health care,education et al. The social contract and the role of the government should be examined anew." Such enormous task takes years in the 21st century. It is Socio-Economics as I envisioned in my blogs. It is obvious that I have been interested in education and training to promote the building of human capital.
B5: China has taken measures to help global financial stability by increasing liquidity in the markets to enhance coordination and cooperation with other nations on macroeconomics policies. "Macroeconomics of Stabilization" was published by the White House Conference on Balanced Economic Growth. August 1978.
Francis Shieh a.k.a. Xie Shihao with my passion of watching economic events as my pastime for fun.
October 25, 2008 at 2.45 p.m.
Investor's Business Daily, October 27, 2008 Monday on page A3: "Never stop learning": I am an octogenarian but still a learner to validate Work and Study Cycle Theory. www.ask.com for reference.
B2- US stocks are part of a global retreat in economics.( spiritual retreat may be timely for mental health)
B4B - Industrial and Commercial Bank of China (ICBC) Profit jumps 36%: Shanghai - China's largest financial institution had a robust result as China is the world's fastest growing major economy.
New York Times Oct.25,08: Editorial- "The next administration must reestablish equity of opportunity. Investment is desperately needed in health care,education et al. The social contract and the role of the government should be examined anew." Such enormous task takes years in the 21st century. It is Socio-Economics as I envisioned in my blogs. It is obvious that I have been interested in education and training to promote the building of human capital.
B5: China has taken measures to help global financial stability by increasing liquidity in the markets to enhance coordination and cooperation with other nations on macroeconomics policies. "Macroeconomics of Stabilization" was published by the White House Conference on Balanced Economic Growth. August 1978.
Francis Shieh a.k.a. Xie Shihao with my passion of watching economic events as my pastime for fun.
October 25, 2008 at 2.45 p.m.
Investor's Business Daily, October 27, 2008 Monday on page A3: "Never stop learning": I am an octogenarian but still a learner to validate Work and Study Cycle Theory. www.ask.com for reference.
Bull moves -Bear Market by Peter D. Schiff
The little book has just been published by Wiley.com 2008 $19.95 I agree with some parts but other passages need to be updated from the on-going happenings. "Delta,delta and delta galore" as we witness the headlines or events to be watched in the days to come apropos of financial rescue procedures as directed by the Treasury Department under the decision of the Secretary of Treasury.
My comments:
We are living in a time of peril - recession with mental depression for most folks. Such unhappy realities may last for months or years to come.
Inflation i.e. rising prices may lead to deflation but may generate hyperinflation in the near future. I published my thoughts with the title of "Precis of Inflation" when I was in Beijing,China in 1995 at www.baidu.com if interested.
My recommendation would be the investment in human capital so that human expertise can be utilized by the changing demands of USA or China in the days to come.
I would also suggest that frugality be the guideline as new lifestyle to adjust from the perks of highroller way of life to the basics without frills. Uncle Sam is a debtor nation and we must understand the real economics of thrift as desiderata for America in the 21st century.
The savings rate in China is high but very low in the USA. We should realize that we do need the basic necessities such as clothing,food, lodging and transportation. "Yi shi zhu xing" We ought to know that a simple and economical living may be more healthy than high roller way with exorbitant cost. We must seek the smart way of living to strive to be centenarians with proper philosophy even though we are also aware of high cost of living in USA and in China.
Francis Shieh a.k.a. Xie Shihao on Saturday,Oct. 25, 2008 at 11.20 a.m.
My comments:
We are living in a time of peril - recession with mental depression for most folks. Such unhappy realities may last for months or years to come.
Inflation i.e. rising prices may lead to deflation but may generate hyperinflation in the near future. I published my thoughts with the title of "Precis of Inflation" when I was in Beijing,China in 1995 at www.baidu.com if interested.
My recommendation would be the investment in human capital so that human expertise can be utilized by the changing demands of USA or China in the days to come.
I would also suggest that frugality be the guideline as new lifestyle to adjust from the perks of highroller way of life to the basics without frills. Uncle Sam is a debtor nation and we must understand the real economics of thrift as desiderata for America in the 21st century.
The savings rate in China is high but very low in the USA. We should realize that we do need the basic necessities such as clothing,food, lodging and transportation. "Yi shi zhu xing" We ought to know that a simple and economical living may be more healthy than high roller way with exorbitant cost. We must seek the smart way of living to strive to be centenarians with proper philosophy even though we are also aware of high cost of living in USA and in China.
Francis Shieh a.k.a. Xie Shihao on Saturday,Oct. 25, 2008 at 11.20 a.m.
Washington Post,Oct.25,08 page A11
In the United States, about 77% of new mothers breast-feed at least briefly, the Centers for Disease Control and Prevention said in April.
In China,about 49% of mothers with babies under 6 months breast-feed exclusively. In 2007, according to the Ministry of Health, about 72% of mothers with infants under 4 months practiced some breast feeding.
Rates in both nations vary depending on whether researchers count exclusive bread-feeding or breast-feeding in combination with formula.
Such practice will generate a good relationship between the mother and the baby. The father may or may not agree with such aphorism.
Francis Shieh a.k.a. Xie Shihao is the witness of such practices in the USA and in China in the bygone days.
October 25, 2008 at 10.40 a.m.
In China,about 49% of mothers with babies under 6 months breast-feed exclusively. In 2007, according to the Ministry of Health, about 72% of mothers with infants under 4 months practiced some breast feeding.
Rates in both nations vary depending on whether researchers count exclusive bread-feeding or breast-feeding in combination with formula.
Such practice will generate a good relationship between the mother and the baby. The father may or may not agree with such aphorism.
Francis Shieh a.k.a. Xie Shihao is the witness of such practices in the USA and in China in the bygone days.
October 25, 2008 at 10.40 a.m.
Friday, October 24, 2008
New York Times,Oct.24,2008 Page A3:
Obama for President: Bush is saddling his successor with two wars, a scarred global image and a government systematically stripped of its ability to protect and help its citizens. Obama has shown a cool head and sound judgment. I am inclined to concur such observation for November 4, 2008.
Page B1: Growing gloom in China's housing market. Prices tend to be going down in 2009?
Investor's Business Daily. Oct.24, 2008 Page A7: US Dollar soars to 2-year high. The greenback is strong amid world turmoil. Americans can travel overseas to get better exchage rates.
Francis Shieh, a reader to share news with other readers. Oct.24,2008 at 2.08 p.m/
Page B1: Growing gloom in China's housing market. Prices tend to be going down in 2009?
Investor's Business Daily. Oct.24, 2008 Page A7: US Dollar soars to 2-year high. The greenback is strong amid world turmoil. Americans can travel overseas to get better exchage rates.
Francis Shieh, a reader to share news with other readers. Oct.24,2008 at 2.08 p.m/
Lawmakers blast former FED chairman
Washington Post,Oct.24, 2008 page A1 Headline: Greenspan defended his legacy and acknowledged mistakes. Professor John K. Galbraith sensed the vested interest of Greenspan as an investment banker and such insight can be found in "Keys to Economic Undestanding" published in 1976. www.Amazon.com for reference.
Polls point to struggle for McCain. I predict there will be a landslide for Obama on Nov.4, 2008. However,such thought must be validated by the will of the voters. That remains to be seen.
Page D1, Cutbacks from all corners: In response to the economic crisis, a quarter of US firms polled in a recent survey expect to make layoffs in the next 12 month. That is an indication of more jobless folks in America. The new President must take action for the well-being of Americans to make a living.
Asian stocks fall on bleak economic data on page D4. However,the government in China will relax rules for down payment and cut mortgage rates for first-time buyers. The announcement appeared to cheer investors, as stocks rose in Shanghai.
Francis Shieh a.k.a. Xie Shihao watching the developments in global economic crisis with keen interest to see the possible solutions after Nov.15th conference of world leaders in finance and economics.
October 24, 2008 at 9.40 a.m.
Polls point to struggle for McCain. I predict there will be a landslide for Obama on Nov.4, 2008. However,such thought must be validated by the will of the voters. That remains to be seen.
Page D1, Cutbacks from all corners: In response to the economic crisis, a quarter of US firms polled in a recent survey expect to make layoffs in the next 12 month. That is an indication of more jobless folks in America. The new President must take action for the well-being of Americans to make a living.
Asian stocks fall on bleak economic data on page D4. However,the government in China will relax rules for down payment and cut mortgage rates for first-time buyers. The announcement appeared to cheer investors, as stocks rose in Shanghai.
Francis Shieh a.k.a. Xie Shihao watching the developments in global economic crisis with keen interest to see the possible solutions after Nov.15th conference of world leaders in finance and economics.
October 24, 2008 at 9.40 a.m.
The world is spinning into a prolonged recession
Washington Post,Oct.23,2008 on page D1 and D8:
Firms across sectors gird for recession as HEADLINES. Shadows over stock markets worldwide. Economic news is overwhelming. The state of the economy is shaky!
Wall Street Journal,Oct.23, 2008 page A12:
"Made in China is the favored brand of worried Western consumers" said Ben Simpfendorfer, an economist with Royal Bank of Scotland. I would reason that trade deficit is attributable to the less expensive products from China, purchased by Americans to save money.
WTO is a bulwark against protectionism. Such view is the same as my prior blogs to honor the Law of Comparative Advantage for the benefit of folks in nations in the world. Free trade is the aphorism for students of economics.
Page A16:
An Obamanomics Preview: I have reason to believe that if and when Obama is elected,he would care for folks in America with another stimulus after January 20,2009 provided that the economy is worse by then.
Page A17: Economist Michael Boskin of Stanford University defends McCain as an advisor. He used the word "Capitalism" to try to convince voters that capitalism is the good model for USA. But we must face the empirical evidence from the financial crisis and the role of the government i.e. the public sector to rescue the economy. Ponder such empirical evidence and make up your own mind for the realistic socio-economics in America today i.e. to serve American society with relevance as I stated in prior blogs.
Francis Shieh,a lifelong student and a contributor to Economics textbook by George Bach of Stanford University decades ago when Boskin was also a contributor for the 9th edition.
October 24, 2008 at 7 a.m.
Firms across sectors gird for recession as HEADLINES. Shadows over stock markets worldwide. Economic news is overwhelming. The state of the economy is shaky!
Wall Street Journal,Oct.23, 2008 page A12:
"Made in China is the favored brand of worried Western consumers" said Ben Simpfendorfer, an economist with Royal Bank of Scotland. I would reason that trade deficit is attributable to the less expensive products from China, purchased by Americans to save money.
WTO is a bulwark against protectionism. Such view is the same as my prior blogs to honor the Law of Comparative Advantage for the benefit of folks in nations in the world. Free trade is the aphorism for students of economics.
Page A16:
An Obamanomics Preview: I have reason to believe that if and when Obama is elected,he would care for folks in America with another stimulus after January 20,2009 provided that the economy is worse by then.
Page A17: Economist Michael Boskin of Stanford University defends McCain as an advisor. He used the word "Capitalism" to try to convince voters that capitalism is the good model for USA. But we must face the empirical evidence from the financial crisis and the role of the government i.e. the public sector to rescue the economy. Ponder such empirical evidence and make up your own mind for the realistic socio-economics in America today i.e. to serve American society with relevance as I stated in prior blogs.
Francis Shieh,a lifelong student and a contributor to Economics textbook by George Bach of Stanford University decades ago when Boskin was also a contributor for the 9th edition.
October 24, 2008 at 7 a.m.
Thursday, October 23, 2008
New York Times,Oct.23, 2008 page A1
American officials and many economists say continued Chinese growth is vital to the global economy as the US and Europe face severe countdown. I sent my blogs in the past to the same effect.
China sits on $1.9 trillion in foreign exchange reserves accumulated from giant trade surpluses and heavy foreign investment in China. Such funds could acquire discounted stakes in Western banks and industrial companies. Here is the meeting ground for Sino-American Economics as I envision.
Francis Shieh a.k.a. Xie Shihao with reflections of my prior blogs for mutual benefit of USA abd China in the days to come.
October 23, 2008 at 3 p.m.
China sits on $1.9 trillion in foreign exchange reserves accumulated from giant trade surpluses and heavy foreign investment in China. Such funds could acquire discounted stakes in Western banks and industrial companies. Here is the meeting ground for Sino-American Economics as I envision.
Francis Shieh a.k.a. Xie Shihao with reflections of my prior blogs for mutual benefit of USA abd China in the days to come.
October 23, 2008 at 3 p.m.
Washington Post, Oct. 23, 2008
Page A1 Headline: Job Losses Accelerate, Signaling Deeper Distress- Employers are moving to aggressively cut jobs and reduce costs to the face of the economic crisis, preparing for what many fear will be a long and painful recession.
Page A19 Howard Davies,director of the London School of Economics wrote: "If we do not allow China to participate in making the rules governing finance, how can we expect it to obey them?" - Ways to fix our financial architecture as the topic.
Page A8: Bush to host world leaders at Nov.15 economic summit:
The G-20 - representing two thirds of the world's population - including Argentina,Australia, Brazil, Canada, China,France,Germany India, Indonesia,Italy,Japan,Mexico,Russia,Saudi Arabia,South Africa,South Korea,Turkey,UK and US.The EU is represented by the rotating presidency of its council and the European Central Bank. The managing director of the IMF, the president of World Bank and other top officials of the two institutions also usually participate in G-20 meetings.
Francis Shieh a.k.a. Xie Shihao looking forward to witnessing the developments of such important meetings for resolving international financial crisis in the 21st century and beyond...
October 23, 2008 at 12.12 p.m.
Page A19 Howard Davies,director of the London School of Economics wrote: "If we do not allow China to participate in making the rules governing finance, how can we expect it to obey them?" - Ways to fix our financial architecture as the topic.
Page A8: Bush to host world leaders at Nov.15 economic summit:
The G-20 - representing two thirds of the world's population - including Argentina,Australia, Brazil, Canada, China,France,Germany India, Indonesia,Italy,Japan,Mexico,Russia,Saudi Arabia,South Africa,South Korea,Turkey,UK and US.The EU is represented by the rotating presidency of its council and the European Central Bank. The managing director of the IMF, the president of World Bank and other top officials of the two institutions also usually participate in G-20 meetings.
Francis Shieh a.k.a. Xie Shihao looking forward to witnessing the developments of such important meetings for resolving international financial crisis in the 21st century and beyond...
October 23, 2008 at 12.12 p.m.
America and the World: What the next president should do
Global challenges in a new book as published by PARADE magazine,Oct.19,08 page 22:
Democrat Z. Brzezinski and B. Scowcroft,Republican national security expert discussed our role in the world: -
The new President of the US needs to end our military involvement in Iraq and be careful not to overmilitarize Afghanistan. He must energetically push the Israeli-Palestinian peace proces, and he needs to engage with China in a way that acknowledges its new global importance. My comment: Chinese language and Confucian philosophy should be studied by leaders so that we can have better understanding of China in the 21st century. "A Glimpse of the Chinese Language" and "Philosphy of Mencius" may be useful references. They are listed at the Library of Congress online catalog.www.loc.gov for information.
Francis Shieh, a blogger to try to promote better understanding of China for the best interest of the peoples of USA and China in the days to come.
October 23, 2008 at 6.46 a.m.
Democrat Z. Brzezinski and B. Scowcroft,Republican national security expert discussed our role in the world: -
The new President of the US needs to end our military involvement in Iraq and be careful not to overmilitarize Afghanistan. He must energetically push the Israeli-Palestinian peace proces, and he needs to engage with China in a way that acknowledges its new global importance. My comment: Chinese language and Confucian philosophy should be studied by leaders so that we can have better understanding of China in the 21st century. "A Glimpse of the Chinese Language" and "Philosphy of Mencius" may be useful references. They are listed at the Library of Congress online catalog.www.loc.gov for information.
Francis Shieh, a blogger to try to promote better understanding of China for the best interest of the peoples of USA and China in the days to come.
October 23, 2008 at 6.46 a.m.
Wednesday, October 22, 2008
Wall Street Journal and New York Times,Oct.22,08
Stocks tumble 350 points as of 2 p.m. on October 22, 2008 Instant news at www.Yahoo.com and www.Reuters.com for your reference
WSJ B4: Wal-Mart sets rules for China: Use 40%less energy and cut water use at stores by 30% by 2010. Folks in China love to shop at Wal-Mart for US goods with Wal-Mart brand,made in China.
NYTimes Page A1,A18: In sour economy, some scale back on medications: Drop in prescription at the risk of lives. Uncle Sam (afterJan.20, 2009)rescuing financial crisis et al.
In China,authorities examine drugs for reason of health.
Francis Shieh a.k.a. Xie Shihao stressing human capital of health in US and in China for the wellness of homosapiens in the world.
WSJ B4: Wal-Mart sets rules for China: Use 40%less energy and cut water use at stores by 30% by 2010. Folks in China love to shop at Wal-Mart for US goods with Wal-Mart brand,made in China.
NYTimes Page A1,A18: In sour economy, some scale back on medications: Drop in prescription at the risk of lives. Uncle Sam (afterJan.20, 2009)rescuing financial crisis et al.
In China,authorities examine drugs for reason of health.
Francis Shieh a.k.a. Xie Shihao stressing human capital of health in US and in China for the wellness of homosapiens in the world.
Washington Post, Oct.22, 2008 Page A19,A18
Senator Obama's economic goal is to spread the wealth around. My comment: I remember "The Wealth of Nations" by Adam Smith,a professor of moral philosophy.
Senator McCain warns, to angry, cried of "Socialist!" Ruth Marcus concluded in her article: "McCain is running a campaign both uncivil and uncivilizing - one I expect he will rue, win or lose." My comment: Most likely Senator McCain will lose on the ground that Socio-Economics is relevant to any society since economic policy must serve the people including the less fortunate folks. Senator Obama's economic goal is to spread the wealth to all Americans as he believes with morality in his heart and mind. Let us find out on Nov.4, 2008.
Moreover,Colin Powell endorsed Senator Obama as the Democratic nominee who had the tenacity to transform the agenda of America for the good of all. Yvonne Brown wrote to the Editor.
Francis Shieh a.k.a. Xie Shihao,a voter on Nov.4, 2008. Oct.22, 2008 at 9.42 a.m.
Senator McCain warns, to angry, cried of "Socialist!" Ruth Marcus concluded in her article: "McCain is running a campaign both uncivil and uncivilizing - one I expect he will rue, win or lose." My comment: Most likely Senator McCain will lose on the ground that Socio-Economics is relevant to any society since economic policy must serve the people including the less fortunate folks. Senator Obama's economic goal is to spread the wealth to all Americans as he believes with morality in his heart and mind. Let us find out on Nov.4, 2008.
Moreover,Colin Powell endorsed Senator Obama as the Democratic nominee who had the tenacity to transform the agenda of America for the good of all. Yvonne Brown wrote to the Editor.
Francis Shieh a.k.a. Xie Shihao,a voter on Nov.4, 2008. Oct.22, 2008 at 9.42 a.m.
Visit Smithsonian and Newseum in Washington
Panda,the cute target of love for kids and adults alike. They can be seen in the National Zoo in the capital of USA. One can readily see black and white as the colors outside for viewing but they are from China,a land of the yellow race as the origin. Such colorful exhibits remind us of One World,One Dream and One Human Race plus Panda as attachments. Hehehahahoho all the way with such thought in humor if detected with aphorism in this mundane world.
Solos: Tulou/Affordable Housing for China: Through April 5, 2009. Cooper Hewitt National Design Museum. New York. A presentation of prototype for affordable housing being built in the city of Guangzhou by Chinese architectural practice Urbanus. Perhaps such design would be useful reference for homeless on the streets in USA when the new President would reallocate funds from war to domestic needs in USA. Any comments?
Francis Shieh a.k.a. Xie Shihao,a graduate student from China with thoughts for the less fortunate folks in USA and in China apropos of living conditions for all homosapiens on good earth. Oct.22, 2008 at 7 a.m.
Solos: Tulou/Affordable Housing for China: Through April 5, 2009. Cooper Hewitt National Design Museum. New York. A presentation of prototype for affordable housing being built in the city of Guangzhou by Chinese architectural practice Urbanus. Perhaps such design would be useful reference for homeless on the streets in USA when the new President would reallocate funds from war to domestic needs in USA. Any comments?
Francis Shieh a.k.a. Xie Shihao,a graduate student from China with thoughts for the less fortunate folks in USA and in China apropos of living conditions for all homosapiens on good earth. Oct.22, 2008 at 7 a.m.
Tuesday, October 21, 2008
How to boost the economy during slowdown?
Washington Post,Oct.21, 2008 page A14:
"Many independent economists say spending that goes to low- income Americans is likely to spread most rapidly through the economy as they are less likely to save the money. They need to keep body and soul together with high cost of living as per the letter to the Editor in New York Times today. If I may use an adage: Giving one fish to someone,he/she would eat it but if someone is taught how to fish,he/she can catch more fishes with training. My point is to train the low -income Americans with marketable skills so that they can get jobs more readily. I sent my prior blog to that effect. FED chairman Bernanke said measures to improve access to credit might be effective at promoting economic growth and job creation. I have reason to believe that Bernanke would endorse the idea of training the less fortunate Americans to be able to get jobs with marketable skills as I pointed out in agreement with other thinkers.
Page B1: Asian Americans feeling the power to vote for Presidential election on Nov. 4, 2008. I remember the last debate of two candidates and both mentioned China as the creditor and US is the debtor. It would be significant for the next new President to have contact with leaders in China for cooperation and collaboration in economics and in science as well. I watched Phoenix TV: US-China has a cooperative project in space exploration for the benefit of humankind in the 21st century. That is a step in the right direction in the days to come.
Francis Shieh a.k.a. Xie Shihao,a watcher for the positive development for the benefit of peoples in USA and in China to pursue worthwhile projects for humanity.
October 21, 2008 at 5.55 p.m.
"Many independent economists say spending that goes to low- income Americans is likely to spread most rapidly through the economy as they are less likely to save the money. They need to keep body and soul together with high cost of living as per the letter to the Editor in New York Times today. If I may use an adage: Giving one fish to someone,he/she would eat it but if someone is taught how to fish,he/she can catch more fishes with training. My point is to train the low -income Americans with marketable skills so that they can get jobs more readily. I sent my prior blog to that effect. FED chairman Bernanke said measures to improve access to credit might be effective at promoting economic growth and job creation. I have reason to believe that Bernanke would endorse the idea of training the less fortunate Americans to be able to get jobs with marketable skills as I pointed out in agreement with other thinkers.
Page B1: Asian Americans feeling the power to vote for Presidential election on Nov. 4, 2008. I remember the last debate of two candidates and both mentioned China as the creditor and US is the debtor. It would be significant for the next new President to have contact with leaders in China for cooperation and collaboration in economics and in science as well. I watched Phoenix TV: US-China has a cooperative project in space exploration for the benefit of humankind in the 21st century. That is a step in the right direction in the days to come.
Francis Shieh a.k.a. Xie Shihao,a watcher for the positive development for the benefit of peoples in USA and in China to pursue worthwhile projects for humanity.
October 21, 2008 at 5.55 p.m.
Common Ground for USA and China re human capital
New York Times,Oct. 21, 2008 Page A24:
Amy Laiken of Chicago wrote to the editor in reference to the millions of lower income folks who cannot climb up the ladder to the middle class economic status because the ladder's rung have been sawed by stagnating wages and high costs. In order to revive the concept of upward mobility, policy makers in the next administration need to propose structural changes to help the less fortunate folks in America. The same observation has been made by three Georgetown University professors in their article published by the Washington Post on Sunday,Outlook section,October 19, 2008. I sent my blog to the same with my comments from my published works as follows:
1. Congressional Record,July 18, 1974: The Future of Community Colleges. Should be available at the Library of Congress. www.loc.gov
2. Keys for Economic Understanding. 1971 www.Amazon.com for apprenticeship programs. Published in USA and in UK.
3. Keys to Economic Understanding. 1976 re vocational training et al.
4. Work and Study Cycle Theory. 1978(to enhance productivity for economic growth): to be validated and implemented in the US and in China. www.Ask.com for reference.
Such works are dated in the 20th century but would be useful in the 21st century and beyond...
On page B9 Business section of New York Times,Oct.21,2008 apropos of China:
Hu Angang, a prominent Chinese economist who is the director of the Center for China Studies at Tsinghua University in Beijing said that the government was drafting plans to step up its spending on vocational training and other educational programs for adults. The goal is to help China's workers move away from low-wage skill as assembly line tasks in export-oriented factories and provide the skills necessary for an internationally competitive economy.
I have always maintained my view that folks need to have marketable skill to supply the changing demands of our society via education and training. I am delighted to find the identical thoughts of other thinkers to recommend such structural changes to develop human potentials as skilled labor needed in USA and in China as well. That is Sino-American Economics in unison.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 to learn the relevant economics for the wellbeing of two nations on both sides of the Pacific. October 21, 2008 at 2.40 p.m.
Amy Laiken of Chicago wrote to the editor in reference to the millions of lower income folks who cannot climb up the ladder to the middle class economic status because the ladder's rung have been sawed by stagnating wages and high costs. In order to revive the concept of upward mobility, policy makers in the next administration need to propose structural changes to help the less fortunate folks in America. The same observation has been made by three Georgetown University professors in their article published by the Washington Post on Sunday,Outlook section,October 19, 2008. I sent my blog to the same with my comments from my published works as follows:
1. Congressional Record,July 18, 1974: The Future of Community Colleges. Should be available at the Library of Congress. www.loc.gov
2. Keys for Economic Understanding. 1971 www.Amazon.com for apprenticeship programs. Published in USA and in UK.
3. Keys to Economic Understanding. 1976 re vocational training et al.
4. Work and Study Cycle Theory. 1978(to enhance productivity for economic growth): to be validated and implemented in the US and in China. www.Ask.com for reference.
Such works are dated in the 20th century but would be useful in the 21st century and beyond...
On page B9 Business section of New York Times,Oct.21,2008 apropos of China:
Hu Angang, a prominent Chinese economist who is the director of the Center for China Studies at Tsinghua University in Beijing said that the government was drafting plans to step up its spending on vocational training and other educational programs for adults. The goal is to help China's workers move away from low-wage skill as assembly line tasks in export-oriented factories and provide the skills necessary for an internationally competitive economy.
I have always maintained my view that folks need to have marketable skill to supply the changing demands of our society via education and training. I am delighted to find the identical thoughts of other thinkers to recommend such structural changes to develop human potentials as skilled labor needed in USA and in China as well. That is Sino-American Economics in unison.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 to learn the relevant economics for the wellbeing of two nations on both sides of the Pacific. October 21, 2008 at 2.40 p.m.
PeterTufano wrote"Just keep our money" Oct.21,08
Page A17: The Treasury should loosen limits on savings bond purchaes by individuals and make it easy for taxpayers to buy bonds. Savings bonds have always allowed ordinary citizens to support the country in crisis, usually in wartime. In the present economic calmity, we can help the government, and the government can strengthen American families. Just keep our money,please. The correct policy response is surely "Thank you."
I fully endorse such recommendation by a professor of financial management at Harvard Business School as published by the Washington Post today. I bought US Treausry Bills and Bonds in the past years.
Francis Shieh a.k.a. Xie Shihao on Tuesday, Oct. 21, 2008 at 12.35 p.m.
I fully endorse such recommendation by a professor of financial management at Harvard Business School as published by the Washington Post today. I bought US Treausry Bills and Bonds in the past years.
Francis Shieh a.k.a. Xie Shihao on Tuesday, Oct. 21, 2008 at 12.35 p.m.
American lifestyle to be modified!? It is up to YOU.
The Washington Post published stories of families trying to have frugal living to save money to solve the problems of financial crisis. I happened to review my past blog dated May 18, 2008:
Explosion of deficits is attributable to folks in USA to live far beyond the means in government and individuals i.e. Public and Private sectors to incur deficits to be accumulated to large amount of debts as published in the media.
I have been stressing thrify living with spirituality from moral teaching as known to Adam Smith,a professor of moral philosophy and Confucius/Mencius for ethics and morality beyond the West and the East. Wall Street Journal May 17-18 issue re the consolation from philosophy of life as profound awareness rather than to be led(misled to be exact) to temptations from advertising via the media. We ought to resist such temporal desires with willpower seeking true value in life. Such letter to the Editor shares my thought for the economic problems in USA and in other nations as well.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of philosophy of economics to see the light for proper lifestyle in this mundane world. Donations to the less fortunate folks would be warranted in the name of eleemosynary efforts.
Tuesday, October 21, 2008 at 7.05 a.m.
Explosion of deficits is attributable to folks in USA to live far beyond the means in government and individuals i.e. Public and Private sectors to incur deficits to be accumulated to large amount of debts as published in the media.
I have been stressing thrify living with spirituality from moral teaching as known to Adam Smith,a professor of moral philosophy and Confucius/Mencius for ethics and morality beyond the West and the East. Wall Street Journal May 17-18 issue re the consolation from philosophy of life as profound awareness rather than to be led(misled to be exact) to temptations from advertising via the media. We ought to resist such temporal desires with willpower seeking true value in life. Such letter to the Editor shares my thought for the economic problems in USA and in other nations as well.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of philosophy of economics to see the light for proper lifestyle in this mundane world. Donations to the less fortunate folks would be warranted in the name of eleemosynary efforts.
Tuesday, October 21, 2008 at 7.05 a.m.
Monday, October 20, 2008
New York Times and USAToday,Oct.20, 2008
Page A1: Deficit rises and consensus is to let it grow. My comment: No way to solve fiscal problems in the days to come. Readers can confirm such from empirical evidence during the course of time.
Page A6: China enacts major land-use reform for farmers: An effort to raise country side incomes and reduce the sharp rural-urban divide. I do support such policy for the benefit of circa 65%-70% farming folks in China.
Page B1: Fear Index- Chicago Board Options Exchange Volatility Index: A main guage of market anxiety,reached an all-time high. What would be the logical outcome? Recession is going to be more serious? Another stimulus from FED's policy? More mental cases to maintain mental health in America? Ponder the future with faith,hope and love for humanity.
USAToday,Oct.20,08: Presidential candiate Obama was born in Honolulu,Hawai'i.
Candidate McCain's father was an Admiral as head of Pacific Command,1968-72.
As an honorary citizen of Honolulu,Hawai'i,I am sure that the next President will have his family ties with Honolulu,Hawai'i, the 50th State. I sent my previous blog about the recently published book about Hawai'i for reference.
As a Kentucky Colonel,I am doing eleemosynary work on earth as such honorary title demands.
Francis Shieh a.k.a. Xie Shihao, an aplorist and an octogenarian blogger for readers of Sino-American Economics. October 20, 2008 at 3.08 p.m.
Page A6: China enacts major land-use reform for farmers: An effort to raise country side incomes and reduce the sharp rural-urban divide. I do support such policy for the benefit of circa 65%-70% farming folks in China.
Page B1: Fear Index- Chicago Board Options Exchange Volatility Index: A main guage of market anxiety,reached an all-time high. What would be the logical outcome? Recession is going to be more serious? Another stimulus from FED's policy? More mental cases to maintain mental health in America? Ponder the future with faith,hope and love for humanity.
USAToday,Oct.20,08: Presidential candiate Obama was born in Honolulu,Hawai'i.
Candidate McCain's father was an Admiral as head of Pacific Command,1968-72.
As an honorary citizen of Honolulu,Hawai'i,I am sure that the next President will have his family ties with Honolulu,Hawai'i, the 50th State. I sent my previous blog about the recently published book about Hawai'i for reference.
As a Kentucky Colonel,I am doing eleemosynary work on earth as such honorary title demands.
Francis Shieh a.k.a. Xie Shihao, an aplorist and an octogenarian blogger for readers of Sino-American Economics. October 20, 2008 at 3.08 p.m.
Rising China as published in Washington Post,Oct.20,08
"Bretton Woods. The Sequel: On page A15: Rising China and India deserve more say at IMF for reforms. Declining powers such as France and Britain need to give up some influence." We are aware of the global economy requiring global participation. Written by Sebastian Mallaby.
October 19, 2008 on page B4: "China is well insulated from the Western financial crisis. China needs to keep creating jobs to prevent social unrest. "Keys for Economic Understanding" may be one of the references from www. Amazon.com
The Western recession looks as though it will combine with slower growth in Chinese demand for oil to push prices even lower, unless producers can agree to cut prices. This is good news for nations that consume natural resources, including both the USA and China." Quoted from Bill Emmott, a former editor of the Economist and the author of "Rivals: How the Power Struggle Between China, India and Japan will shape our next decade."
Francis Shieh, a reader of Washington Post to share the thoughts of the above for readers of Sino-American Economics. Such blogs may be viewed from visiting www.Google.com
Monday,October 20, 2008 at 9.54 a.m.
October 19, 2008 on page B4: "China is well insulated from the Western financial crisis. China needs to keep creating jobs to prevent social unrest. "Keys for Economic Understanding" may be one of the references from www. Amazon.com
The Western recession looks as though it will combine with slower growth in Chinese demand for oil to push prices even lower, unless producers can agree to cut prices. This is good news for nations that consume natural resources, including both the USA and China." Quoted from Bill Emmott, a former editor of the Economist and the author of "Rivals: How the Power Struggle Between China, India and Japan will shape our next decade."
Francis Shieh, a reader of Washington Post to share the thoughts of the above for readers of Sino-American Economics. Such blogs may be viewed from visiting www.Google.com
Monday,October 20, 2008 at 9.54 a.m.
Sunday, October 19, 2008
Washington Post, Sunday,Oct.19, 2008 Page B7
Peter B. Edelman,law professor at Georgetown University,Mark H. Greenberg and Harry Holzer,professors at Georgetown and directors of Georgetown Center on Poverty, Inequality and Public Policy published "A Safety Net for the least fortunate" Such article has proper insights with analytical vision. I have reason to believe that such thinking is dedicated to the next new President of the United States and Congress in 2009 for taking action for Americans.
As policymakers struggle to respond to the global financial meltdown, most analysts suggest that our economy is entering a fairly serious and lengthy recession,with the highest unemployment rates in a generation. If true, this would inflict economic pain on most Americans - but the most severe effects will be felt by disadvantaged adult, youths and their families. Such urgent problems must be solved as sine qua non for a democratic American society apropos of desideratum in the days to come.
Congress should improve the safety net so that it catches more jobless workers and their families. Career and technical education options that emphasize work experience as well as training can be scaled up. We should make sure that some jobs and funding for apprenticeships go to disadvantaged youth as dire need arises.
I wish to mention the following works to elaborate the above rationale: -
1. The Future of Community Colleges. Published by the Congressional Record,July 18, 1974. Quoted by Richard T. Gill of Harvard in his textbooks published in 1975,l978.
2. Keys for Economic Understanding(re apprenticeships). www.ask.com or www.Amazon.com for references.
3. Keys to Economic Understanding.(apropos of vocational education) Ditto.
4. Work and Study Cycle Theory. (enhancing productivity for economic growth) Listed at the Library of Congress.www.loc.gov
Francis Shieh a.k.a. Xie Shihao,a graduate of Georgetown University Graduate School,(Class of 1950). I wish to share my views to readers at www.Sino-American Economics and to dovetail the recommendations of three scholars at Georgetown with the same reasoning as published above from my vision in the 20th century to the 21st century with intellectual satisfaction as a former Fulbright Senior Scholar 1989-1990. Thank you for sharing my thought.
Sunday, October 19, 2008 at 2.40 p.m.
As policymakers struggle to respond to the global financial meltdown, most analysts suggest that our economy is entering a fairly serious and lengthy recession,with the highest unemployment rates in a generation. If true, this would inflict economic pain on most Americans - but the most severe effects will be felt by disadvantaged adult, youths and their families. Such urgent problems must be solved as sine qua non for a democratic American society apropos of desideratum in the days to come.
Congress should improve the safety net so that it catches more jobless workers and their families. Career and technical education options that emphasize work experience as well as training can be scaled up. We should make sure that some jobs and funding for apprenticeships go to disadvantaged youth as dire need arises.
I wish to mention the following works to elaborate the above rationale: -
1. The Future of Community Colleges. Published by the Congressional Record,July 18, 1974. Quoted by Richard T. Gill of Harvard in his textbooks published in 1975,l978.
2. Keys for Economic Understanding(re apprenticeships). www.ask.com or www.Amazon.com for references.
3. Keys to Economic Understanding.(apropos of vocational education) Ditto.
4. Work and Study Cycle Theory. (enhancing productivity for economic growth) Listed at the Library of Congress.www.loc.gov
Francis Shieh a.k.a. Xie Shihao,a graduate of Georgetown University Graduate School,(Class of 1950). I wish to share my views to readers at www.Sino-American Economics and to dovetail the recommendations of three scholars at Georgetown with the same reasoning as published above from my vision in the 20th century to the 21st century with intellectual satisfaction as a former Fulbright Senior Scholar 1989-1990. Thank you for sharing my thought.
Sunday, October 19, 2008 at 2.40 p.m.
NEWSWEEK, Oct.20,08: Bright Side on the cover
Blessing in disguise in essence: Lifestyle is implied for folks in USA and in other nations as well to live frugally. To me, the philosophy of life is to be known in order to live a life with upbeat since all homosapiens have limited years on earth. We strive to live to be centenarians but we are mortals except our souls are immortal. All of us should make contributions in this mundane world.
International Trade is necessary for all nations re economic growth to honor the Law of Comparative Advantage. US Commerce Secretary is aware of such globalization in the 21st century. Chinese Commerce Minister Chen spoke in Paris and shared the same reasoning. On Oct. 17th from Phoenix TV Hong Kong,I noticed Chen's mandarin with a strong Shanghai accent(Wu dialect) since I am a native of Shanghai. I happened to meet Chen when he was mayor of Suzhou and I was an American Expert teaching at Suzhou University in October 1999.
Francis Shieh a.k.a. Xie Shihao,a student of English and Chinese languages in economics. I wish to point out that Wu dialect is in demand now due to Expo 2010 in Shanghai even though Mandarin is the official language. Cf. "A Glimpse of the Chinese Language" www.rand.org for explanations. Such paper is availale free online at PDF as public service. In Hong Kong,folks speak Cantonese dialect. It is desirable to know dialect of Shanghai(spoken by circa 100 million folks) and I taught such at www.dictyon.net for the past years.
October 19, 2008 at 7.12 a.m.
International Trade is necessary for all nations re economic growth to honor the Law of Comparative Advantage. US Commerce Secretary is aware of such globalization in the 21st century. Chinese Commerce Minister Chen spoke in Paris and shared the same reasoning. On Oct. 17th from Phoenix TV Hong Kong,I noticed Chen's mandarin with a strong Shanghai accent(Wu dialect) since I am a native of Shanghai. I happened to meet Chen when he was mayor of Suzhou and I was an American Expert teaching at Suzhou University in October 1999.
Francis Shieh a.k.a. Xie Shihao,a student of English and Chinese languages in economics. I wish to point out that Wu dialect is in demand now due to Expo 2010 in Shanghai even though Mandarin is the official language. Cf. "A Glimpse of the Chinese Language" www.rand.org for explanations. Such paper is availale free online at PDF as public service. In Hong Kong,folks speak Cantonese dialect. It is desirable to know dialect of Shanghai(spoken by circa 100 million folks) and I taught such at www.dictyon.net for the past years.
October 19, 2008 at 7.12 a.m.
Saturday, October 18, 2008
The Threat of deflation looms:Wall Street Journal,10/18/08
Page A2: SF FED President said that the plunges of all prices along with slackening demand for goods and services should push inflation with downward pressure. Paul Ashworth,chief economist at Capital Economics said:" The action of policymaker can head this off first." Let us wait and see the evidence.
Page A6: Korea searched for US$.Korean won loss daily % nearly 11 years. President Lee said" Individual greed should be put aside in times of national crisis."
Page A10: The late Seven-billionaire Wang was reclusive and followed the adage "Live a day,work a day." Wang's frugality was legendary. Perhaps Americans can learn from him.
My guideline is: To live is to learn from others.
Page A13: Most pundits are wrong about the bubble according to Prof. Calomiris of Columbia Business School. Believe such?
Page B5: China's alumninum firm seeks assets reprieve.
Investor's Business Daily. Oct.20, 2008: Page A1: Photo of China's 7000 toy factory workers demand unpaid wages. They become casualty of global financial crisis.
Francis Shieh a.k.a. Xie Shihao,a daily blogger on Oct. 18, 2008 at 4 p.m.
Page A6: Korea searched for US$.Korean won loss daily % nearly 11 years. President Lee said" Individual greed should be put aside in times of national crisis."
Page A10: The late Seven-billionaire Wang was reclusive and followed the adage "Live a day,work a day." Wang's frugality was legendary. Perhaps Americans can learn from him.
My guideline is: To live is to learn from others.
Page A13: Most pundits are wrong about the bubble according to Prof. Calomiris of Columbia Business School. Believe such?
Page B5: China's alumninum firm seeks assets reprieve.
Investor's Business Daily. Oct.20, 2008: Page A1: Photo of China's 7000 toy factory workers demand unpaid wages. They become casualty of global financial crisis.
Francis Shieh a.k.a. Xie Shihao,a daily blogger on Oct. 18, 2008 at 4 p.m.
Sell-offs hurting emrgency markets
Washington Post, Oct.18, 2008 on page D1:
SHANGHAI - Investors who helped build the financial boomtowns of developing countries are now fleeing them, threatening to destabilize burgeoning economies and drag the world into a deep recession. More than $1.3 trillion in value has been wiped off emerging market stocks this year in cities such as Sao Paulo and Osaka. I visited Sao Paulo in 1997 and Osaka in 1984 for on-the-spot research in economics.
Page A8: Despite the federal government's pledge of more than $1 trillion to aid the US economy and financial system, both political parties would like to spend more. That means US in a deeper hole but such is the nature of political economy. You bet!
Vincent Reinhart, the former chief monetary economist at the FED said that in principle a targeted timely stimulus package that could be put in place quickly with the bailout plan. We have a new watermark as to how mch the government should do. Reinhart said. My comment: Who knows the answers? I believe that Prof.Galbraith is right in saying that there are two kinds of forecasters: Those who don't know and whose who don't know they don't know. That is truly amusing but I bet that nobody would impugn such profound wisdom from a seasoned economist.
Page A11: Olympic Media rules preserved in China: Liberalization applies to Foreigners. Journalism has impact to economics! We have seen the impact of media on economics.
Francis Shieh a.k.a. Xie Shihao, an octogenarian wishing to learn the statements from economists to see the nature of economics and Sino-American Economics. Oct.18, 2008 at 10.22 a.m.
SHANGHAI - Investors who helped build the financial boomtowns of developing countries are now fleeing them, threatening to destabilize burgeoning economies and drag the world into a deep recession. More than $1.3 trillion in value has been wiped off emerging market stocks this year in cities such as Sao Paulo and Osaka. I visited Sao Paulo in 1997 and Osaka in 1984 for on-the-spot research in economics.
Page A8: Despite the federal government's pledge of more than $1 trillion to aid the US economy and financial system, both political parties would like to spend more. That means US in a deeper hole but such is the nature of political economy. You bet!
Vincent Reinhart, the former chief monetary economist at the FED said that in principle a targeted timely stimulus package that could be put in place quickly with the bailout plan. We have a new watermark as to how mch the government should do. Reinhart said. My comment: Who knows the answers? I believe that Prof.Galbraith is right in saying that there are two kinds of forecasters: Those who don't know and whose who don't know they don't know. That is truly amusing but I bet that nobody would impugn such profound wisdom from a seasoned economist.
Page A11: Olympic Media rules preserved in China: Liberalization applies to Foreigners. Journalism has impact to economics! We have seen the impact of media on economics.
Francis Shieh a.k.a. Xie Shihao, an octogenarian wishing to learn the statements from economists to see the nature of economics and Sino-American Economics. Oct.18, 2008 at 10.22 a.m.
Friday, October 17, 2008
Wall Street Journal, October 17, 2008 apropos of China
Mideast,China return from sidelines with new investments in Western firms. The cash-rich governments of the Persian Gulf and China appear to be getting back in the game.
Blackstone Group has reached an agreement with China Investment Corporation's $200 billion fund to increase its holding in New York-based private equity firm to 12.5% from 9.9%.
Page A11: Gary Okihiro, author of "Island World" -A History of Hawaii and the U.S. University of California Press 308 pages $27.50. Reviewed by John Whitehead, University of Alaska (Fairbanks) professor emeritus in history, author of "Completing the Union: Alaska and Hawai'i."
The official spelling is now "Hawai'i." Pause for a second to finish the reading for the original fun.
Hawaii was the hinge point of the China trade and the Pacific whaling industry, both of which brought hundreds of ships from New England to the islands.
On the eve of the 50th anniversary of Hawaiian statehood 1959-2009. Mr.Okihiro has liberated the islands from those truncated little boxes on maps of the US and brought them back onto the national center stage.
As an honorary citizen of Honolulu, State of Hawaii, I salute to the 50th state with warm sentiments of ALOHA!
Page B8: Hoteliers look to China: Actis pumped 65 million into the 7-Days Inn Group, A Guangzhoui=based budget hotel. As an expert at Guangdong Institute of Foreign Trade in 1992-1993, I am delighted to learn such good news.
Accor Groi[(French) to triple its hotels in China,Hong Kong and Macao. The robust outllok for China's travel business stand in sharp contrst to other countries.
As a Fulbright Senior Scholar in Hong Kong with visits to Macao and China in 1989-1990,I welcome such tidings with good memories.
Francis Shieh a.k.a. Xie Shihao,the Shanghai Guy on October 17,2008 at 1.25 p.m.
Blackstone Group has reached an agreement with China Investment Corporation's $200 billion fund to increase its holding in New York-based private equity firm to 12.5% from 9.9%.
Page A11: Gary Okihiro, author of "Island World" -A History of Hawaii and the U.S. University of California Press 308 pages $27.50. Reviewed by John Whitehead, University of Alaska (Fairbanks) professor emeritus in history, author of "Completing the Union: Alaska and Hawai'i."
The official spelling is now "Hawai'i." Pause for a second to finish the reading for the original fun.
Hawaii was the hinge point of the China trade and the Pacific whaling industry, both of which brought hundreds of ships from New England to the islands.
On the eve of the 50th anniversary of Hawaiian statehood 1959-2009. Mr.Okihiro has liberated the islands from those truncated little boxes on maps of the US and brought them back onto the national center stage.
As an honorary citizen of Honolulu, State of Hawaii, I salute to the 50th state with warm sentiments of ALOHA!
Page B8: Hoteliers look to China: Actis pumped 65 million into the 7-Days Inn Group, A Guangzhoui=based budget hotel. As an expert at Guangdong Institute of Foreign Trade in 1992-1993, I am delighted to learn such good news.
Accor Groi[(French) to triple its hotels in China,Hong Kong and Macao. The robust outllok for China's travel business stand in sharp contrst to other countries.
As a Fulbright Senior Scholar in Hong Kong with visits to Macao and China in 1989-1990,I welcome such tidings with good memories.
Francis Shieh a.k.a. Xie Shihao,the Shanghai Guy on October 17,2008 at 1.25 p.m.
Stocks plunge on fears of global recession
Bush seeks to calm down the folks with a speech to the Chamber of Commerce on Oct.17, 2008 at 10 a.m. But the market is still turning southward due to anxiety and fear of a serious recession in the days to come.
Wall Street Journal,Oct.16,2008 on page A14:
Leo Linbeck wrote to the Editor: "The economy as ecosystem: A better understanding and appreciation of the highly complex nature of the economy is derived from using metaphors occurring in nature which are in essense organic. If one were to seek an understanding of the economy by thinking in ecological terms, one would be less inclined to interfere with its working out of a respect for its complexity." I sent my prior blogs about aesthetics i.e. the environment and our surroundings with the sense of beauty. For human behavior,however,duplicity should be mentioned with interdependence(nexus) to predict or model the behavior of the economy in a precise manner. "A large measure of humility should accompany any thought of managing the economy through overt interference with its workings. As in nature, nurture would appear to be a virtue, not command and control." Leo stated.
My comment: I am always a student trying to learn from others everyday. I believe such attitude is correct.
Ben Moore wrote a letter to the editor: "As an American and be proud of USA. I have every confidence in the productivity of the workers here." For the benefit of the readers, "Work and Study Cycle Theory" is aimed at productivity in USA,China and other nations.
Francis Shieh a.k.a. Xie Shihao,a reader to try to learn the thoughts of other folks. October 17, 2008 at 11.08 a.m.
Wall Street Journal,Oct.16,2008 on page A14:
Leo Linbeck wrote to the Editor: "The economy as ecosystem: A better understanding and appreciation of the highly complex nature of the economy is derived from using metaphors occurring in nature which are in essense organic. If one were to seek an understanding of the economy by thinking in ecological terms, one would be less inclined to interfere with its working out of a respect for its complexity." I sent my prior blogs about aesthetics i.e. the environment and our surroundings with the sense of beauty. For human behavior,however,duplicity should be mentioned with interdependence(nexus) to predict or model the behavior of the economy in a precise manner. "A large measure of humility should accompany any thought of managing the economy through overt interference with its workings. As in nature, nurture would appear to be a virtue, not command and control." Leo stated.
My comment: I am always a student trying to learn from others everyday. I believe such attitude is correct.
Ben Moore wrote a letter to the editor: "As an American and be proud of USA. I have every confidence in the productivity of the workers here." For the benefit of the readers, "Work and Study Cycle Theory" is aimed at productivity in USA,China and other nations.
Francis Shieh a.k.a. Xie Shihao,a reader to try to learn the thoughts of other folks. October 17, 2008 at 11.08 a.m.
Thursday, October 16, 2008
Sequel to the essence of Economics: Myth and Uncertainty
Greetings. In my previous blogs,I cited the thoughts of Prof.Thurow and Prof.Galbraith decades ago but their reasong is still relevant to the happenings nowadays re globalization as the nature of economics in the macro,macro views. Read below,please:
Washington Post,Oct.16, 2008 on page A8:
Joseph Stiglitz, a Nobel Prize-winning economics professor at Columbia University, said it was a mystery why London interbank offered rate(Libor) didn't drop after the government guaranteed lending between banks. My comment: Human behavior is inexact and economics is about human activities at best or at worst as the case maybe.
"Clearly, there still is some uncertainty...about the terms of the guarantee," said Stiglitz. "There could be uncertainty about the speed of collection. For someone in the market, that could be very worrying. We don't know how much of an injection is really required. There are a lot of unanswered questions." "Time will tell as I sent my prior blog. It could take months,years...to witness empirical evidence.
My comment: Economics is an inexact science as I contributed such in the textbooks by Richard T. Gill of Harvard.
"Almost Everyone's Guide to Economics" by John K. Galbraith of Harvard. My book review can be found in the Atlantic Economic Review,September 1979.
Prof. Galbraith stated the following about forecasters with great humor:
"There are those who don't know and those who don't know they don't know"
Such amusing judgment has been sent from my blogs in the past but it is timely to repeat again re the thinking of Joseph Stiglitz.
Francis Shieh a.k.a. Xie Shihao, a lifelong student desiring to compare notes with other economists for learning the exciting fields of political economy including Sino-American Economics. Oct. 16,2008 at 12.26 p.m.
Washington Post,Oct.16, 2008 on page A8:
Joseph Stiglitz, a Nobel Prize-winning economics professor at Columbia University, said it was a mystery why London interbank offered rate(Libor) didn't drop after the government guaranteed lending between banks. My comment: Human behavior is inexact and economics is about human activities at best or at worst as the case maybe.
"Clearly, there still is some uncertainty...about the terms of the guarantee," said Stiglitz. "There could be uncertainty about the speed of collection. For someone in the market, that could be very worrying. We don't know how much of an injection is really required. There are a lot of unanswered questions." "Time will tell as I sent my prior blog. It could take months,years...to witness empirical evidence.
My comment: Economics is an inexact science as I contributed such in the textbooks by Richard T. Gill of Harvard.
"Almost Everyone's Guide to Economics" by John K. Galbraith of Harvard. My book review can be found in the Atlantic Economic Review,September 1979.
Prof. Galbraith stated the following about forecasters with great humor:
"There are those who don't know and those who don't know they don't know"
Such amusing judgment has been sent from my blogs in the past but it is timely to repeat again re the thinking of Joseph Stiglitz.
Francis Shieh a.k.a. Xie Shihao, a lifelong student desiring to compare notes with other economists for learning the exciting fields of political economy including Sino-American Economics. Oct. 16,2008 at 12.26 p.m.
Presidential Candidate Debates on Oct.15,2008
To my friends online, Greetings. I listened to their debates last night. Senator McCain pointed out the greed and excess of some folks and my mind turned to their lifestyle. In other words,they should render services to humanity in this world before they depart on earth. That is mortality for all mortals. But the soul is immortal as Nobel Laureate in Economics Paul Krugman cited such word as published re my prior blog.
Senator Obama paid attention to the middle class in America and I would endorse his interest as a member of the middle class. I started teaching in 1945 until July 2008.
Senator Obama said: "We borrowed from China to pay Saudi Arabia." Senator McCain said:"We owe to China as a debtor" China is a creditor. I mentioned such in the past as Sino-American Economics. Two nations must work together for mutual benefit. Moreover, China supports US bailout and would cooperate with other nations as published in the media several days ago.
Francis Shieh a.k.a. Xie Shihao,a learner to share my understanding with other readers online apropos of US-China relations in the 21st century.
October 16, 2008 at 6.48 a.m.
Senator Obama paid attention to the middle class in America and I would endorse his interest as a member of the middle class. I started teaching in 1945 until July 2008.
Senator Obama said: "We borrowed from China to pay Saudi Arabia." Senator McCain said:"We owe to China as a debtor" China is a creditor. I mentioned such in the past as Sino-American Economics. Two nations must work together for mutual benefit. Moreover, China supports US bailout and would cooperate with other nations as published in the media several days ago.
Francis Shieh a.k.a. Xie Shihao,a learner to share my understanding with other readers online apropos of US-China relations in the 21st century.
October 16, 2008 at 6.48 a.m.
Wednesday, October 15, 2008
Full credit thaw could take months: Recession now
Wall Street Journal,Oct.15, 2008 page A1,A2: - We are still in for a rough recession.
Bank of America CEO was supportive of the new plan but we are in unchartered territory. That remains to be seen. Time will tell. Patience is required as a virtue.
Page A3: No quick fix for housing prices. We wait with fortitude.
Economists press for new programs for homeowners to stem downward spiral. How?
Page B8: Asian TV(Hong Kong,SAR,China) deal collapse amid global economic turmoil.
Page C6: Citi, surged 18%, Bank of merican rose 16% on support for banks.
New York Times Page B3: Bleak numbers stoke fears of recession in Europe.
The above headlines are not rosy but we have confidence in US government and other governments to manage such global financial problems in months or years to come.
Francis Shieh a.k.a. Xie Shihao, an observer of happenings with intense passion in the name of economics for the interest of all folks in this mundane world.
October 15, 2008 at 3.22 p.m.
Bank of America CEO was supportive of the new plan but we are in unchartered territory. That remains to be seen. Time will tell. Patience is required as a virtue.
Page A3: No quick fix for housing prices. We wait with fortitude.
Economists press for new programs for homeowners to stem downward spiral. How?
Page B8: Asian TV(Hong Kong,SAR,China) deal collapse amid global economic turmoil.
Page C6: Citi, surged 18%, Bank of merican rose 16% on support for banks.
New York Times Page B3: Bleak numbers stoke fears of recession in Europe.
The above headlines are not rosy but we have confidence in US government and other governments to manage such global financial problems in months or years to come.
Francis Shieh a.k.a. Xie Shihao, an observer of happenings with intense passion in the name of economics for the interest of all folks in this mundane world.
October 15, 2008 at 3.22 p.m.
Washington Post, Oct.15,08 Business section
Steven Pearlstein, economics columnist wrote: "Buckle Up - We haven't reached bottom yet : - Stocks are down again on Oct.15, 2008
"Nobody should pay much attention to those economic forecasts churned out by computer models. These models are like homing pigeons - the way they are programmed, they desperately want to get things back to "normal" as quickly as possible. And because the models are based on what has happened in the past, they are almost useless in predicting how the economy will respond to extreme event, like the bursting of the biggest credit bubble in history."
I remember Prof. John K. Galbraith of Harvard said decades ago: There are two kinds of forecasters: 1. Those who don't know and 2. Those who don't know they don't know. I believe in such true understanding with wisdom.
Francis Shieh a.k.a. Xie Shihao, trying to learn the truth in economics as a myth as expressed by Economist Lester Thurow at MIT decades ago. Oct. 15, 2008 at 1.50 p.m.
"Nobody should pay much attention to those economic forecasts churned out by computer models. These models are like homing pigeons - the way they are programmed, they desperately want to get things back to "normal" as quickly as possible. And because the models are based on what has happened in the past, they are almost useless in predicting how the economy will respond to extreme event, like the bursting of the biggest credit bubble in history."
I remember Prof. John K. Galbraith of Harvard said decades ago: There are two kinds of forecasters: 1. Those who don't know and 2. Those who don't know they don't know. I believe in such true understanding with wisdom.
Francis Shieh a.k.a. Xie Shihao, trying to learn the truth in economics as a myth as expressed by Economist Lester Thurow at MIT decades ago. Oct. 15, 2008 at 1.50 p.m.
Washington Post,Oct.15,2008 Page A3
"The free marketeers of the Bush administration had announced that they will use a quarter trillion dollars to nationalize a good chunk of the banking system. It means the largest investor in the private sector is now the public sector."
Such is exactly what I have sent my past blogs with the same rationale. Matt Haak sent his letter to the Editor dated Oct.13,2008 on page A20: "The end of American Capitalism?" front page,Oct.10 Anthony Faiola claimed in his analysis that credit was the "lifeblood of capitalism," If that were true, it'd be called creditism,not captalism. The lifeblood of capitalism is capital. But we don't have capital in this country, and we certainly don't have capitalism. What we have is a backwards debt-based monetary system that has done nothing but expand and collapse the economy over and over again since the Federal Reserve Act was forced on our ancestors." The above letter is certainly different from popular thinking! I would challenge the word "capitalism" because any nation has two sectors: Public (government) and Private(enterprises) Maybe mixed in some cases. Moreover, China is the most populous nation with human capital but not under Capitalism per se. The official description is Socialism with Chinese characteristics. Generalization may be misleading for the economic sytem as China does have the market economy. Perhaps readers would have varied views and the views are invited for public understanding.
Francis Shieh a.k.a. Xie Shihao,a student of economics with the passion of nomenclature. Thanks for reading my personal views. Have a great day. Oct. 15, 2008 at 10 a.m.
Such is exactly what I have sent my past blogs with the same rationale. Matt Haak sent his letter to the Editor dated Oct.13,2008 on page A20: "The end of American Capitalism?" front page,Oct.10 Anthony Faiola claimed in his analysis that credit was the "lifeblood of capitalism," If that were true, it'd be called creditism,not captalism. The lifeblood of capitalism is capital. But we don't have capital in this country, and we certainly don't have capitalism. What we have is a backwards debt-based monetary system that has done nothing but expand and collapse the economy over and over again since the Federal Reserve Act was forced on our ancestors." The above letter is certainly different from popular thinking! I would challenge the word "capitalism" because any nation has two sectors: Public (government) and Private(enterprises) Maybe mixed in some cases. Moreover, China is the most populous nation with human capital but not under Capitalism per se. The official description is Socialism with Chinese characteristics. Generalization may be misleading for the economic sytem as China does have the market economy. Perhaps readers would have varied views and the views are invited for public understanding.
Francis Shieh a.k.a. Xie Shihao,a student of economics with the passion of nomenclature. Thanks for reading my personal views. Have a great day. Oct. 15, 2008 at 10 a.m.
Scholar's forum at Brookings Institution,Wash.,DC
Phoenix TV,Hong Kong(October 15, 2008) shows the recommendation by American scholars: -
1. The new US President should make contacts with the leader in China for mutual cooperation and collaboration in the 21st century. My comment: Sino-American Economics via www.Google.com would be useful reference since significant developments of good relations are important for the wellbeing of the peoples of two nations.
2. Foreign language training is desideratum for human resource needs in the United States. It is well-known that communication is sine qua non for understanding of folks apropos of peace and economic development.
Francis Shieh,a.k.a. Xie Shihao, a dedicated educator to try to bridge the gaps of language, culture and economics of two great nations on both sides of the Pacific.
Wednesday,Oct. 15, 2008 at 7 a.m.
1. The new US President should make contacts with the leader in China for mutual cooperation and collaboration in the 21st century. My comment: Sino-American Economics via www.Google.com would be useful reference since significant developments of good relations are important for the wellbeing of the peoples of two nations.
2. Foreign language training is desideratum for human resource needs in the United States. It is well-known that communication is sine qua non for understanding of folks apropos of peace and economic development.
Francis Shieh,a.k.a. Xie Shihao, a dedicated educator to try to bridge the gaps of language, culture and economics of two great nations on both sides of the Pacific.
Wednesday,Oct. 15, 2008 at 7 a.m.
Tuesday, October 14, 2008
IBM Expands research effort in Shangahi,China et al
Wall Street Journal,Oct.14,08 page with news about IBM in China as an extension of IBM in Beijing. I was at IBM, San Jose,California from 1956-1957 before accepting an offer to teach Economics in Hollywood,Los Angeles,California from 1958-1961.
Page A1: US to buy stakes in largest banks. Recipients include Citi,Bank of America et al. Government pressures all 9 banks to accept money as part of broadened rescue effort. Such action may be regarded as human behavior of leaders in public and private sectors to offer joint endeavor to try to resolve financial crisis.
Page A6: Paul Krugman is awarded Nobel in Economics. He proposed a theory of trade that incorporated consumers' desire for diversity in their purchases. Prof. Krugman applied his insights on trade and economies of scale to regional economics. I wish to reiterate my thoughts that USA and China are two trading nations on both sides of the Pacific. Everyone should learn about comparative advantage(page A19) as per my prior blogs. New York Times,Oct.14th on page A1: Professor Krugman cited SOUL i.e. our souls are immortal but our physical body would leave the mundane world when we are centenarians or beyond...The end maybe far but maybe near to have such thoughts in our prayers.
May I offer a theory of work and study to enhance productivity for global economic recovery in the long run? In 1979 I received a letter of commendation from Secretary of Treasury and FED Chairman Miller apropos of "Work and Study Cycle Theory" thereby I was a recipient of Fulbright Award as a Senior Scholar in Hong Kong, 1989-1990.
I have reason to believe that Senator Obama (Presidential candidate)would stress education and training on community level as elaborated in Congressional Record:The Future of Community Colleges,July 18, 1974 and Keys for Economic Understanding in 1971 and Keys to Economic Understaning in 1976 plus Work and Study Cycle Theory in 1978. Cf.www Amazon.com online for reference.
Washington Post,Oct.14,2008 page D4 and Washington Times on page A11- published China's Trade surplus hit a new high of $29.3 billion, exports totaled $136.4 billion with 21.5% increase while imports grew 21.3% to $107.1 billion. Such data would be a part of Sino-American Economics.
Page A1 Washington Times: Americans as poor: Millions lack money for health care. I trust Obama would try to remedy such situations after January 20, 2009 when inaugurated if elected on Nov. 4, 2008
Francis Shieh a.k.a. Xie Shihao to share the above with readers to be up-to-date apropos of contemporary economics.
October 14, 2008 at 2.06 p.m.
Page A1: US to buy stakes in largest banks. Recipients include Citi,Bank of America et al. Government pressures all 9 banks to accept money as part of broadened rescue effort. Such action may be regarded as human behavior of leaders in public and private sectors to offer joint endeavor to try to resolve financial crisis.
Page A6: Paul Krugman is awarded Nobel in Economics. He proposed a theory of trade that incorporated consumers' desire for diversity in their purchases. Prof. Krugman applied his insights on trade and economies of scale to regional economics. I wish to reiterate my thoughts that USA and China are two trading nations on both sides of the Pacific. Everyone should learn about comparative advantage(page A19) as per my prior blogs. New York Times,Oct.14th on page A1: Professor Krugman cited SOUL i.e. our souls are immortal but our physical body would leave the mundane world when we are centenarians or beyond...The end maybe far but maybe near to have such thoughts in our prayers.
May I offer a theory of work and study to enhance productivity for global economic recovery in the long run? In 1979 I received a letter of commendation from Secretary of Treasury and FED Chairman Miller apropos of "Work and Study Cycle Theory" thereby I was a recipient of Fulbright Award as a Senior Scholar in Hong Kong, 1989-1990.
I have reason to believe that Senator Obama (Presidential candidate)would stress education and training on community level as elaborated in Congressional Record:The Future of Community Colleges,July 18, 1974 and Keys for Economic Understanding in 1971 and Keys to Economic Understaning in 1976 plus Work and Study Cycle Theory in 1978. Cf.www Amazon.com online for reference.
Washington Post,Oct.14,2008 page D4 and Washington Times on page A11- published China's Trade surplus hit a new high of $29.3 billion, exports totaled $136.4 billion with 21.5% increase while imports grew 21.3% to $107.1 billion. Such data would be a part of Sino-American Economics.
Page A1 Washington Times: Americans as poor: Millions lack money for health care. I trust Obama would try to remedy such situations after January 20, 2009 when inaugurated if elected on Nov. 4, 2008
Francis Shieh a.k.a. Xie Shihao to share the above with readers to be up-to-date apropos of contemporary economics.
October 14, 2008 at 2.06 p.m.
Krugman wins Nobel for Economics
Washington Post, Oct.14, 2008 on pages D1,D2: -
Paul Krugman occupies two spheres in the American intelligentsia. One is a New York Times columnist and the other is a Princeton University economist famous for his research on international trade and finance. He is noted for his barbed criticisms apropos of the policies of Bush administration. I do concur with him re the focus of priority or allocation of resources for USA. Presidential candidate Obama shares the same reasoning for guns or butter for the wellbeing of the United States re Iraq vis-a-vis domestic needs.
When asked about China, he said: "I've been spending my last few years trying to save my own damn republic." But The Swedish Academy wrote a commentary that explained Krugman's work as follows:(relating to Sino-American Economics in a nutshell)
"It becomes advantageous for a nation to specialize in manufacturing a specific car, and to produce it for the world market, while another nation specializes in a different brand of car. This allows each nation to take effective advantage of economies of scale,thereby implying that consumers worldwide will benefit from greater welfare due to lower prices and greater product diversity, as compared to a situation where each nation produces solely for its own domestic market, wtihout international trade.
Such commentary reinforces my previous blogs of citing the Law of Comparative Advantage and the role of China in manufacturing cars for global markets as I would envision. Cf. quod vide i.e. sequel to my rationale/thoughts.
Alfred Nobel's will in 1895 authorized awards for physics, chemistry, physiology or medicine, literature and peace. The first economics prize was awarded in 1969 to Dutch economist Tinbergen for his "Convergence Theory" apropos of the combo of economic systems as empirical evidence in China at present. Such theory has been validated and implemented.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of economics as a learner and a student since early 1940s in China and in USA.
Tuesday, October 14, 2008 at 10.40 a.m.
Paul Krugman occupies two spheres in the American intelligentsia. One is a New York Times columnist and the other is a Princeton University economist famous for his research on international trade and finance. He is noted for his barbed criticisms apropos of the policies of Bush administration. I do concur with him re the focus of priority or allocation of resources for USA. Presidential candidate Obama shares the same reasoning for guns or butter for the wellbeing of the United States re Iraq vis-a-vis domestic needs.
When asked about China, he said: "I've been spending my last few years trying to save my own damn republic." But The Swedish Academy wrote a commentary that explained Krugman's work as follows:(relating to Sino-American Economics in a nutshell)
"It becomes advantageous for a nation to specialize in manufacturing a specific car, and to produce it for the world market, while another nation specializes in a different brand of car. This allows each nation to take effective advantage of economies of scale,thereby implying that consumers worldwide will benefit from greater welfare due to lower prices and greater product diversity, as compared to a situation where each nation produces solely for its own domestic market, wtihout international trade.
Such commentary reinforces my previous blogs of citing the Law of Comparative Advantage and the role of China in manufacturing cars for global markets as I would envision. Cf. quod vide i.e. sequel to my rationale/thoughts.
Alfred Nobel's will in 1895 authorized awards for physics, chemistry, physiology or medicine, literature and peace. The first economics prize was awarded in 1969 to Dutch economist Tinbergen for his "Convergence Theory" apropos of the combo of economic systems as empirical evidence in China at present. Such theory has been validated and implemented.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of economics as a learner and a student since early 1940s in China and in USA.
Tuesday, October 14, 2008 at 10.40 a.m.
TM(Transcendental meditation):Mental Effectiveness
Contemplation is silent incantation for inner peace, stability and calm. Meditation bridges the gap between mind and physical body to develop sense of well-being with intuition. We can release our reactions and unconscious habits and blocks via true endeavor. Such would be conducive to spirituality during economic crisis.
Contemplation is a method to still the mind to bring it to neutral. A neutral mind tends to be positive if such scenario is envisioned with upbeat and cheer. Stilling our mind would get rid of negative encounter and to reduce stress with proper mindset.
I have reason to believe that readers of Sino-American Economics would have quiet moments throughout the day. Relax and contemplate the purpose of our lives before we start our day and at the end of the day. A restful and peaceful sleep will occur with prayers to our Laotianye to protect us in the true spirit to be kind,generous hospitable and forgiving.
Francis Shieh a.k.a. Xie Shihao, a student of philosophy of economics on Oct.14, 2008 at 7 a.m.
Contemplation is a method to still the mind to bring it to neutral. A neutral mind tends to be positive if such scenario is envisioned with upbeat and cheer. Stilling our mind would get rid of negative encounter and to reduce stress with proper mindset.
I have reason to believe that readers of Sino-American Economics would have quiet moments throughout the day. Relax and contemplate the purpose of our lives before we start our day and at the end of the day. A restful and peaceful sleep will occur with prayers to our Laotianye to protect us in the true spirit to be kind,generous hospitable and forgiving.
Francis Shieh a.k.a. Xie Shihao, a student of philosophy of economics on Oct.14, 2008 at 7 a.m.
Monday, October 13, 2008
Human Behavior: Seeing minorities as Foreigners
Washington Post, Oct. 13, 2008 on page A1,A10:
"Does Your Subconscious Think Obama Is Foreign?" I wish to cite US Constitution,the Supreme Law of the Land. 14th Amendment,Section 1:
All persons born OR naturalized in the United States are citizens of the USA. Needless to say,Obama is NOT foreign at all unless some Americans are biased. He may be the next President of the USA after Nov.4, 2008. That remains to be seen apropos of the majority of the voters as empirical evidence of fairness and justice.
The psychologists found that the participants, who were asked to answer quickly, were dramatically quicker to associate the American symbols with the British actors, and the foreign symbols with the Asian Americans(the minority of minorities). The results suggest that on a subconscious level people were using ethnicity as a proxy(dailiren) for American identity and equating whites even white foreigners - with things American.
However, Americans have the rights to keep the culture of the original nation as a part of freedom for all Americans. Here is a joke: It is not UNAMERICAN to love Chinese food. However again,William Buffet loves Hambergers and French Fries as a genuine American loving McDonald. But the folks in China would go to McDonald too. Any comments? I remember years ago,some Americans resent the word French for French fries during a strain of US-France relations. That is another funny joke.
Francis Shieh a.k.a. Xie Shihao,a citizen of the USA since 1954 but I used the original Chinese name to mean: "Thanks from the hero of poetry" when I taught the Chinese language but I am not a poet at all. My parents expected me to be a person with poetic flair and I try to be a student with "shi ren de tianfu."
Columbus Day,Monday, October 13, 2008 at 10.45 a.m.
"Does Your Subconscious Think Obama Is Foreign?" I wish to cite US Constitution,the Supreme Law of the Land. 14th Amendment,Section 1:
All persons born OR naturalized in the United States are citizens of the USA. Needless to say,Obama is NOT foreign at all unless some Americans are biased. He may be the next President of the USA after Nov.4, 2008. That remains to be seen apropos of the majority of the voters as empirical evidence of fairness and justice.
The psychologists found that the participants, who were asked to answer quickly, were dramatically quicker to associate the American symbols with the British actors, and the foreign symbols with the Asian Americans(the minority of minorities). The results suggest that on a subconscious level people were using ethnicity as a proxy(dailiren) for American identity and equating whites even white foreigners - with things American.
However, Americans have the rights to keep the culture of the original nation as a part of freedom for all Americans. Here is a joke: It is not UNAMERICAN to love Chinese food. However again,William Buffet loves Hambergers and French Fries as a genuine American loving McDonald. But the folks in China would go to McDonald too. Any comments? I remember years ago,some Americans resent the word French for French fries during a strain of US-France relations. That is another funny joke.
Francis Shieh a.k.a. Xie Shihao,a citizen of the USA since 1954 but I used the original Chinese name to mean: "Thanks from the hero of poetry" when I taught the Chinese language but I am not a poet at all. My parents expected me to be a person with poetic flair and I try to be a student with "shi ren de tianfu."
Columbus Day,Monday, October 13, 2008 at 10.45 a.m.
Sunday, October 12, 2008
Financial Crisis reshapes world order
Washington Times, Oct.12,2008 Headlines on page A1 and A9:
Developing nations gain the upper hand: The emerging markets are actually now the world's creditors. The Group of 20 including China, India, Russia and Brazil.
With China and other Asian markets supplying much of the liquidity that keep the US economy afloat, the economic meltdown could signal a rearrangement of the pecking order of institutions like the IMF and the World Bank.
The US Head of the World Bank argued explicitly for a larger steering group of nations to replace Western industrial powers at WB and IMF. Equal opportunity at work soon?
CASS i.e. Chinese Academy of Social Sciences estimated GDP in China will grow at a 9.5% while recessions appear in the nations in the West. I had the opportunity to be a Visiting Consultant at CASS in 1986-1987 in Beijing,China. "Sinologists of the World" published by CASS in 1994: It listed US sinologists with expertise in the Chinese Language and Philosophy. It is useful to study comparative philosophy.
Page B2: Ben Franklin: Thrift: A penny saved is a penny earned. Return to cherished value as the Editorial on Oct.12, 2008. I visited Shanghai,China and noted such behavior of the folks in China to share the common value from Confucius/Mencius. Ben Franklin in USA and Confucius/Mencius in China had common ground of frugal living. Perhaps such is another aspect of Sino-American Economics in the 21st century.
Francis Shieh a.k.a. Xie Shihao, a lifelong graduate student from China in 1947 to study economics,languages(Chinese and English) and comparative philosophy.
Sunday, October 12, 2008 at 2.55 p.m.
Developing nations gain the upper hand: The emerging markets are actually now the world's creditors. The Group of 20 including China, India, Russia and Brazil.
With China and other Asian markets supplying much of the liquidity that keep the US economy afloat, the economic meltdown could signal a rearrangement of the pecking order of institutions like the IMF and the World Bank.
The US Head of the World Bank argued explicitly for a larger steering group of nations to replace Western industrial powers at WB and IMF. Equal opportunity at work soon?
CASS i.e. Chinese Academy of Social Sciences estimated GDP in China will grow at a 9.5% while recessions appear in the nations in the West. I had the opportunity to be a Visiting Consultant at CASS in 1986-1987 in Beijing,China. "Sinologists of the World" published by CASS in 1994: It listed US sinologists with expertise in the Chinese Language and Philosophy. It is useful to study comparative philosophy.
Page B2: Ben Franklin: Thrift: A penny saved is a penny earned. Return to cherished value as the Editorial on Oct.12, 2008. I visited Shanghai,China and noted such behavior of the folks in China to share the common value from Confucius/Mencius. Ben Franklin in USA and Confucius/Mencius in China had common ground of frugal living. Perhaps such is another aspect of Sino-American Economics in the 21st century.
Francis Shieh a.k.a. Xie Shihao, a lifelong graduate student from China in 1947 to study economics,languages(Chinese and English) and comparative philosophy.
Sunday, October 12, 2008 at 2.55 p.m.
Waiting for the outcome of IMF meeting today
Greetings to all. Tomorrow's headlines should have steps to ease financial crisis in some concrete ways hopefully. However,credit will be tight for businesses and consumers plus the confidence may be eroded in the days to come for retailers re Christmas sales. The finance Ministers are in town and action may be taken.(sic)
Ronald Wilcox, author of "Whatever Happened to Thrist: Why Americans Don't Save and What to do about it." Yale University Press. $30. My comment: Americans borrow and spend as the popular lifestyle;one of the factors causing the current state of troubled economy. The low savings rate in USA vis-a-vis Chinese high saving rate for different lifestyles as known. The average US household has close to $10,000 in credit card debt. Since stocks are down eroding the savings of millions of Americans and forcing those who had planned to retire in the coming years to reconsider their plans as retirement wreck. Here I reiterate my blog published in May 18, 2008 for reference.
Upcoming Event: Air Show China to be held in November 4-9, Zhuhai, China. Published by Defense Technology International. October 2008 issue.
The best seller book: "Three Cups of Tea to promote peace." Penguin. $15. By Greg Mortenson and David Oliver Relin. Perhaps such tea is from China to promote peace in the days to come for international finance.
Francis Shieh a.k.a. Xie Shihao, a market watcher for Sino-American Economics in the positive ways for the readers of www.Blogger.com
October 12,2008 at 10.38 a.m.
Ronald Wilcox, author of "Whatever Happened to Thrist: Why Americans Don't Save and What to do about it." Yale University Press. $30. My comment: Americans borrow and spend as the popular lifestyle;one of the factors causing the current state of troubled economy. The low savings rate in USA vis-a-vis Chinese high saving rate for different lifestyles as known. The average US household has close to $10,000 in credit card debt. Since stocks are down eroding the savings of millions of Americans and forcing those who had planned to retire in the coming years to reconsider their plans as retirement wreck. Here I reiterate my blog published in May 18, 2008 for reference.
Upcoming Event: Air Show China to be held in November 4-9, Zhuhai, China. Published by Defense Technology International. October 2008 issue.
The best seller book: "Three Cups of Tea to promote peace." Penguin. $15. By Greg Mortenson and David Oliver Relin. Perhaps such tea is from China to promote peace in the days to come for international finance.
Francis Shieh a.k.a. Xie Shihao, a market watcher for Sino-American Economics in the positive ways for the readers of www.Blogger.com
October 12,2008 at 10.38 a.m.
Saturday, October 11, 2008
Spirituality apropos of faith and morality:USA/China
Wall Street Journal,Oct. 11-12, 2008 on page A12:
A Sequel to my previous blog re morality: - "Market manipulation does exist, but federal regulators deserves much of the blame for this form of market abuse." as published by Jonathan Macey, a law professor at Yale,author of "Capital Governance: Promise Made and Promise Broken" published by Princeton University Press.
USAToday, October 10, 2008 page 1B "Confidence cracks: Financial system relies on faith; investors and bankers have lost theirs." As I sent my blogs in the past,"Confidence" is the magic word to be remembered in our minds and hearts for equanimity with trust. Both Adam Smith and Confucius/Mencius stressed ethics and morality and their philosophy should be studied in USA and in China for fair and just societies in the 21st century.
October is Domestic Violence Awareness Month. Be friendly to family members. No abusive relationship. Be law-abiding as good folks in the mundane world.
Francis Shieh a.k.a. Xie Shihao,a promoter of economic philosophy for the best interest of readers at www.Blogger.com in terms of Sino-American Economics and the financial crisis in the past to be rectified in the days,weeks,months and years to come. Oct. 11,, 2008 at 2.40 p.m.
A Sequel to my previous blog re morality: - "Market manipulation does exist, but federal regulators deserves much of the blame for this form of market abuse." as published by Jonathan Macey, a law professor at Yale,author of "Capital Governance: Promise Made and Promise Broken" published by Princeton University Press.
USAToday, October 10, 2008 page 1B "Confidence cracks: Financial system relies on faith; investors and bankers have lost theirs." As I sent my blogs in the past,"Confidence" is the magic word to be remembered in our minds and hearts for equanimity with trust. Both Adam Smith and Confucius/Mencius stressed ethics and morality and their philosophy should be studied in USA and in China for fair and just societies in the 21st century.
October is Domestic Violence Awareness Month. Be friendly to family members. No abusive relationship. Be law-abiding as good folks in the mundane world.
Francis Shieh a.k.a. Xie Shihao,a promoter of economic philosophy for the best interest of readers at www.Blogger.com in terms of Sino-American Economics and the financial crisis in the past to be rectified in the days,weeks,months and years to come. Oct. 11,, 2008 at 2.40 p.m.
Washington Post,Oct.11,08 page D1,D2 et al
"We should have learned that markets are NOT self-correcting. They require collective action to put them back into working order." as published. I sent my blogs about market imperfections with externalities at www.Blogger.com in the past.
"Treasury is moving quickly to tap the $700 billion rescue fund to provide additional risk-capital to banks that need it, in exchange for preferred stock that will give taxpayers an ownership interest and a handsome quarterly dividend whenever there are profits to distribute. UK has announced such a program. Such is the policy recommended by economists, who believe it is just the thing to get banks lending again. Markets are broken for the moment and Paulson cannot be relied on to allocate capital more wisely than Hank Paulson. A bit of timed and crafted socialism is just the thing to save capitalism from itself." Such is the conclusion of the article by Steven Pearlstein, the economics columnist. My comment with citation: China has proclaimed: Socialism with Chinese characteristics. Perhaps we can say such as "Socialism with American characteristics" as known in USA and the world with the understanding of socio-economics in the 21st century.
On page D3: "We may be in several crashes - stocks, credit,housing, you name it. The key is that everything doesn't necessarily crash at the same time or at the same rate. The crisis was caused by the largest leveraged asset bubble and credit bubble in the history of humanity," writes Nouriel Roubini,professor of economics at NYU. "where excessive leveraging and bubbles were not limited to housing in the US but also to housing in other nations and excessive borrowing by financial institutions and segments of the corporate sector and of the public sector in many economies." The following may be considered as behavior with a bit of humor: -
Well,bubbles and bubbles are analogy of human behavior to play bubbles. To me,lifestyle of kids and adults could be related to philosophy or the way of life. Adam Smith or Confucius/Mencius have passed on their moral philosophy of ethics to succeeding generations. Should we be alerted to philosophy of life? What is the objective of our living in this world? Money? Status? Intellectual pursuit? Spiritual satisfaction? Good Health? Please determine your own priority. My blog rests here for you to ponder and reflect the true meaning of life. Please read below for an interesting judgment: -
C. Fred Bergsten, director of the Peterson Institute for International Economics said: "If you look around the world, China is doing pretty good right now, and the USA isn't. You may see a push back from globalization in the financial markets." Published by the Washington Post on October 10, 2008 on page A10 for your reference.
Here is a comment from an authority of international economics including Sino-American Economics. I admire Bergsten's insightful observation.
Francis Shieh a.k.a. Xie Shihao, a lifelong student to learn the views of other economists. October 11, 2008 at 10.26 a.m.
"Treasury is moving quickly to tap the $700 billion rescue fund to provide additional risk-capital to banks that need it, in exchange for preferred stock that will give taxpayers an ownership interest and a handsome quarterly dividend whenever there are profits to distribute. UK has announced such a program. Such is the policy recommended by economists, who believe it is just the thing to get banks lending again. Markets are broken for the moment and Paulson cannot be relied on to allocate capital more wisely than Hank Paulson. A bit of timed and crafted socialism is just the thing to save capitalism from itself." Such is the conclusion of the article by Steven Pearlstein, the economics columnist. My comment with citation: China has proclaimed: Socialism with Chinese characteristics. Perhaps we can say such as "Socialism with American characteristics" as known in USA and the world with the understanding of socio-economics in the 21st century.
On page D3: "We may be in several crashes - stocks, credit,housing, you name it. The key is that everything doesn't necessarily crash at the same time or at the same rate. The crisis was caused by the largest leveraged asset bubble and credit bubble in the history of humanity," writes Nouriel Roubini,professor of economics at NYU. "where excessive leveraging and bubbles were not limited to housing in the US but also to housing in other nations and excessive borrowing by financial institutions and segments of the corporate sector and of the public sector in many economies." The following may be considered as behavior with a bit of humor: -
Well,bubbles and bubbles are analogy of human behavior to play bubbles. To me,lifestyle of kids and adults could be related to philosophy or the way of life. Adam Smith or Confucius/Mencius have passed on their moral philosophy of ethics to succeeding generations. Should we be alerted to philosophy of life? What is the objective of our living in this world? Money? Status? Intellectual pursuit? Spiritual satisfaction? Good Health? Please determine your own priority. My blog rests here for you to ponder and reflect the true meaning of life. Please read below for an interesting judgment: -
C. Fred Bergsten, director of the Peterson Institute for International Economics said: "If you look around the world, China is doing pretty good right now, and the USA isn't. You may see a push back from globalization in the financial markets." Published by the Washington Post on October 10, 2008 on page A10 for your reference.
Here is a comment from an authority of international economics including Sino-American Economics. I admire Bergsten's insightful observation.
Francis Shieh a.k.a. Xie Shihao, a lifelong student to learn the views of other economists. October 11, 2008 at 10.26 a.m.
Friday, October 10, 2008
Wall St.Journal,NYTimes,Investor's Daily,Oct.10,08
Wall Street Journal,Oct.10th Page A1: Market's 7-Day Rout leaves US reeling. As of 2 p.m. today turning dark so to speak with stocks down again. Such is the worst market slumps as slow-motion crash.(sic) Investors lose $8.4 trillion+ of wealth.
Page A4: Taiwan,Korea cut rates.
Page A6:" Economists expect crisis to deepen. Grades for evalution to a barely passing grade for Treasury Secretary and FED chairman.
Page A12:: In China,leaders turn focus to farmers's plight.
Page A17: Paul Volcker,former FED Chairman,1979-1987 said:
"We have the tools to manage the crises." I would be inclined to endorse such seasoned judgment. However,his statement is to be verified during the course of time.
Page B4: Silicon Valley firms find they aren't immune from credit crises. Jobs?
Page B6: Nielsen unit forms China web venture. Sino-American Economics in action.
New York Times Page A29: Prof. Paul Krugman: Last chance to avert Great Depression II? This weekend is the line of demarcation for us to see such drastic drama to be unfolding with excitement or equanimity.
Page B4: H-P plans to operate a computer plant in Chongqing are of China to compete with Lenova Group in Beijing, China.
Investor's Business Daily,Oct.10,08 Page A1:
"China still growing fast amid global crises: Retail sales are robust. China has the largest rainy-day fund in the world."
Francis Shieh a.k.a. Xie Shihao would share such headlines with readers of www.Blogger.com to update Sino-American Economics.
October 10, 2008 at 3.50 p.m.
Page A4: Taiwan,Korea cut rates.
Page A6:" Economists expect crisis to deepen. Grades for evalution to a barely passing grade for Treasury Secretary and FED chairman.
Page A12:: In China,leaders turn focus to farmers's plight.
Page A17: Paul Volcker,former FED Chairman,1979-1987 said:
"We have the tools to manage the crises." I would be inclined to endorse such seasoned judgment. However,his statement is to be verified during the course of time.
Page B4: Silicon Valley firms find they aren't immune from credit crises. Jobs?
Page B6: Nielsen unit forms China web venture. Sino-American Economics in action.
New York Times Page A29: Prof. Paul Krugman: Last chance to avert Great Depression II? This weekend is the line of demarcation for us to see such drastic drama to be unfolding with excitement or equanimity.
Page B4: H-P plans to operate a computer plant in Chongqing are of China to compete with Lenova Group in Beijing, China.
Investor's Business Daily,Oct.10,08 Page A1:
"China still growing fast amid global crises: Retail sales are robust. China has the largest rainy-day fund in the world."
Francis Shieh a.k.a. Xie Shihao would share such headlines with readers of www.Blogger.com to update Sino-American Economics.
October 10, 2008 at 3.50 p.m.
American Chamber of Commerce in Shanghai and the search for Aesthetics
US Chamber of Commerce released a survey conducted with Booz Allen Hamilton that found rising costs in China. High cost of living is known in the USA as well. I resent folks somewhere on earth who think status symbols are more important than doing eleemosynary works for less fortunate people in the world. I trust good folks would share such thoughts.
Express Paper,a publication of the Washington Post: 10.10.2008 Friday on page E6: Styles Section: --
The ideas of really dressing your boudoir(sitting room or lady's bedroom) in rich colors and dressing your boudoir in rich colors and dress-maker fabrics propelled Rockville entrepreneur/design fiend Mei Xu to found Blissliving Home. Xu who moved to New York City from China in 1991, trained as a journalist and diplomat. But her disappointment with the US decor market made her rethink her career. "When I moved here, I walked to Bloomingdale's almost every night," she says. "There was fun,ready-to-wear, but no fun,contemporary home products." "People want for something different," she says. "Your bedroom can be an extension of your personality."
Here is another evidence of Sino-American Economics in action for all bedrooms. Hehehahahoho all the way and we shall live to be centenarians.
Francis Shieh a.k.a. Xie Shihao,a learner for beauty, a student of aesthetics. Perhaps such goal would be the common pursuit of Americans and Chinese alike.
October 10, 2008 at 12.16 p.m.
Express Paper,a publication of the Washington Post: 10.10.2008 Friday on page E6: Styles Section: --
The ideas of really dressing your boudoir(sitting room or lady's bedroom) in rich colors and dressing your boudoir in rich colors and dress-maker fabrics propelled Rockville entrepreneur/design fiend Mei Xu to found Blissliving Home. Xu who moved to New York City from China in 1991, trained as a journalist and diplomat. But her disappointment with the US decor market made her rethink her career. "When I moved here, I walked to Bloomingdale's almost every night," she says. "There was fun,ready-to-wear, but no fun,contemporary home products." "People want for something different," she says. "Your bedroom can be an extension of your personality."
Here is another evidence of Sino-American Economics in action for all bedrooms. Hehehahahoho all the way and we shall live to be centenarians.
Francis Shieh a.k.a. Xie Shihao,a learner for beauty, a student of aesthetics. Perhaps such goal would be the common pursuit of Americans and Chinese alike.
October 10, 2008 at 12.16 p.m.
WashPost,Oct.9,2008 Page D4: Credit Crisis goes on ...
To quote the Washington Post:-
"The $700 billion package was approved by Congress but still needs to be implemented. Where is the money coming from? YOU. More precisely, the FED and Treasury have assets, and Treasury will sell securities to investors to make up any shortfall. Such are backed by the full faith and credit of the US government, making them the most secure investment possible. If investors stop buying ,then US will have to boost the interest paid on them to lure investors, raising the cost of debt financing to the American taxpayers." Such thought is a NO,NO in our minds!
"Will China own everything? China's economy is still going strong at 9% annual growth, and it has significant foreign reserves. ($1.8 trillion) China holds about $1 trillion in US debt, including about $400 billion in Fannie Mae and Freddie Mae debt. China apears unlikely to refuse to keep buying Treasury securities or dump much of what China has now. That is because such actioins could reduce the value of the dollar and thus the value of their own US holdings.
The market and the economy will improve only investors have confidence in the leadership. That may take months or even years." Such reasoning is the same as I sent my blogs in the past. Cf. www.Google.com
The readers can clearly see the nexus of Sino-American Economics as I cited above.
Francis Shieh a.k.a. Xie Shihao,a reader to keep other readers posted online apropos of the most important subject as the global issue: ECONOMICS,the inexact science. Let us wait and see who would get the Nobel in Economic Science to try to solve problems in economics.
October 10, 2008 at 6.38 a.m.
"The $700 billion package was approved by Congress but still needs to be implemented. Where is the money coming from? YOU. More precisely, the FED and Treasury have assets, and Treasury will sell securities to investors to make up any shortfall. Such are backed by the full faith and credit of the US government, making them the most secure investment possible. If investors stop buying ,then US will have to boost the interest paid on them to lure investors, raising the cost of debt financing to the American taxpayers." Such thought is a NO,NO in our minds!
"Will China own everything? China's economy is still going strong at 9% annual growth, and it has significant foreign reserves. ($1.8 trillion) China holds about $1 trillion in US debt, including about $400 billion in Fannie Mae and Freddie Mae debt. China apears unlikely to refuse to keep buying Treasury securities or dump much of what China has now. That is because such actioins could reduce the value of the dollar and thus the value of their own US holdings.
The market and the economy will improve only investors have confidence in the leadership. That may take months or even years." Such reasoning is the same as I sent my blogs in the past. Cf. www.Google.com
The readers can clearly see the nexus of Sino-American Economics as I cited above.
Francis Shieh a.k.a. Xie Shihao,a reader to keep other readers posted online apropos of the most important subject as the global issue: ECONOMICS,the inexact science. Let us wait and see who would get the Nobel in Economic Science to try to solve problems in economics.
October 10, 2008 at 6.38 a.m.
Thursday, October 9, 2008
No Depreession: Uncle Sam Has Got Our back
L. Kotlikoff,Prof. of Economics at Boston U. and P. Mehrling,Prof.of Econ. at Columbia University published the above title. Perhaps No Mental Depression may be more appropriate for relevance.
"US economy will squeak by with a moderate recession." I endorse such view.
"Uncle Sam a.k.a. Hank Paulson,Treasury Secretary and Chairman Bernanke of FED are doing precisely what is needed to avoid the mistakes of the 1930s. With credit markets drying up,turning on the faucet by recycling panic dollars back into the financial market would be OK." And I would certainly concur.
"This may sound like socialism or state capitalism." To me,it is socio-economics in action. The combo of private and public sector as I sent my reasoning via previous blogs.
Three key words: "monetizing the debt" may be known to show the magic of the FED and the Treasury Dept. apropos of the policy-wise performance to stabilize the economy for global cooperation and collaboration during the course of time in the days,weeks,months and years to come.
"We Americans have lots of moxie." I endorse such wholeheartedly since we would have plenty of pep to model after Xie in Pin Yin with phonetic equivalents for boasting my ego as my last name is XIE in humor in English and in Pin Yin Chinese if detected?
"We are heading for a safe landing and that there is no way in hell they will let this economy go down the tubes. I agree 100% as USA is here to stay in the mundane world regardless of the trouble at present. Patience is a virtue and Americans regard virtue with value since the time of Ben Franklin i.e. whatever Ben said would be fine and dandy,indeed!
Wall Street Journal,Oct.9,08 page A6: China echoes West in moves to ease crisis: The moves both free up more funds for banks to lend and lower the cost to borrow those funds.
China is already integrated deeply into the global economy. The People's Bank of China(PBC) i.e. the central bank will continue its close communication and cooperation with other central banks and international financial organizations and work together to weather global financial crisis.
Such action dovetails my blogs in my prior submissions for reinforcement.
Page B4: Alibaba plans to invest about $725 million on auction site to fend off Baidu.com
Page C2: China Merchants Bank open in New York as another evidence of Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on Oct.9, 2008 at 3.25 p.m.
"US economy will squeak by with a moderate recession." I endorse such view.
"Uncle Sam a.k.a. Hank Paulson,Treasury Secretary and Chairman Bernanke of FED are doing precisely what is needed to avoid the mistakes of the 1930s. With credit markets drying up,turning on the faucet by recycling panic dollars back into the financial market would be OK." And I would certainly concur.
"This may sound like socialism or state capitalism." To me,it is socio-economics in action. The combo of private and public sector as I sent my reasoning via previous blogs.
Three key words: "monetizing the debt" may be known to show the magic of the FED and the Treasury Dept. apropos of the policy-wise performance to stabilize the economy for global cooperation and collaboration during the course of time in the days,weeks,months and years to come.
"We Americans have lots of moxie." I endorse such wholeheartedly since we would have plenty of pep to model after Xie in Pin Yin with phonetic equivalents for boasting my ego as my last name is XIE in humor in English and in Pin Yin Chinese if detected?
"We are heading for a safe landing and that there is no way in hell they will let this economy go down the tubes. I agree 100% as USA is here to stay in the mundane world regardless of the trouble at present. Patience is a virtue and Americans regard virtue with value since the time of Ben Franklin i.e. whatever Ben said would be fine and dandy,indeed!
Wall Street Journal,Oct.9,08 page A6: China echoes West in moves to ease crisis: The moves both free up more funds for banks to lend and lower the cost to borrow those funds.
China is already integrated deeply into the global economy. The People's Bank of China(PBC) i.e. the central bank will continue its close communication and cooperation with other central banks and international financial organizations and work together to weather global financial crisis.
Such action dovetails my blogs in my prior submissions for reinforcement.
Page B4: Alibaba plans to invest about $725 million on auction site to fend off Baidu.com
Page C2: China Merchants Bank open in New York as another evidence of Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao on Oct.9, 2008 at 3.25 p.m.
Wednesday, October 8, 2008
Wall Street,Journal,,NYTimes and USAToday,Oct.8,2008
Wall St.Journal page A17: Lee Ohanian,Prof.of Economics at UCLA said: "We need more skilled immigrants in order to duck a depression if the principles of economic growth - work and save, promoting competition, and fostering economic openness and maintained. Such reasoning can be found in Confucianism and "Keys for Economic Understanding." Both works are listed at www.loc.gov or Georgetown University library online catalogs Cf. www.Amazon.com or www.ask.com for references.
New York Times page B4: Yum brands(owner of Pizza Hut,Taco Bell and KFC) profits up 4.4% on sales growth in China. Such businesses are profitable in China.
USAToday on page 8A: In the USA Today newspaper, Chinese characters are published for Chinese Academy of Inspection and Qhuarantine, a lab used by government for individuals opened first time. It pays to recognize Chinese characters. "A Glimpse of the Chinese Language" in English is dedicated to readers to have a glimpse of the Chinese language. It is available on PDF free of charge as public service from www.rand.org Such info is useful for readers at no cost.
Francis Shieh a.k.a. Xie Shihao,a promoter for better understanding of US-China relations for www.blogger.com readers apropos of Sino-American Economics. Oct. 8, 2008 at 3.26 p.m.
New York Times page B4: Yum brands(owner of Pizza Hut,Taco Bell and KFC) profits up 4.4% on sales growth in China. Such businesses are profitable in China.
USAToday on page 8A: In the USA Today newspaper, Chinese characters are published for Chinese Academy of Inspection and Qhuarantine, a lab used by government for individuals opened first time. It pays to recognize Chinese characters. "A Glimpse of the Chinese Language" in English is dedicated to readers to have a glimpse of the Chinese language. It is available on PDF free of charge as public service from www.rand.org Such info is useful for readers at no cost.
Francis Shieh a.k.a. Xie Shihao,a promoter for better understanding of US-China relations for www.blogger.com readers apropos of Sino-American Economics. Oct. 8, 2008 at 3.26 p.m.
Washington Post,Oct.8,08 page A19 Global-China
Globalizing the crisis response: Looming is an even more virulent(actively poisonous) form of contagion: decreased level of economic activity because of contracting trade flows. Emerging markets and developing nations will face lower exports and less growth. China will experience a sharp slowdown because of its heavy reliance on overseas markets. Unemployment will soar almost everywhere.
China has room for fiscal expansion while Europe could ease monetary policy. The United States can combine the two. The traditional Group of Seven industrial nations must be joined by the chief emerging markets, particularly China.(China is doing well)
This week's IMF conclave offers a unique oppotunity to add a critical international dimension to the crisis response.
By C. Fred Bergsten, director of the Peterson Institute for International Economics, was assistant Treasury secretary for international affairs from 1977 to 1981.
FED cut interest rate to 1.5% to make it easier for banks or investors to borrow as an emergency measure as per online CNN news release this morning.
Business section on page D1: Spar trip fuels fury on Hill:
$1,600 per night for the Presidential suite and the Royal Suite.
$23,380 at the spa on unitemized treatments that cost $210 apiece.
$6,939 spent at the golf course.
$147,000 for banquets.
$443,000- the Grand Total.
Food for thoughts: Executives were found wining and dining at the most exclusive resorts in the nation. Whether any of this makes sense?
My comment: Live it up at the expense of whom? Thanks for your thoughts.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China in 1947 and keep learning the American way of life with scholarly innocence and naivete.
October 8, 2008 at 10 a.m.
China has room for fiscal expansion while Europe could ease monetary policy. The United States can combine the two. The traditional Group of Seven industrial nations must be joined by the chief emerging markets, particularly China.(China is doing well)
This week's IMF conclave offers a unique oppotunity to add a critical international dimension to the crisis response.
By C. Fred Bergsten, director of the Peterson Institute for International Economics, was assistant Treasury secretary for international affairs from 1977 to 1981.
FED cut interest rate to 1.5% to make it easier for banks or investors to borrow as an emergency measure as per online CNN news release this morning.
Business section on page D1: Spar trip fuels fury on Hill:
$1,600 per night for the Presidential suite and the Royal Suite.
$23,380 at the spa on unitemized treatments that cost $210 apiece.
$6,939 spent at the golf course.
$147,000 for banquets.
$443,000- the Grand Total.
Food for thoughts: Executives were found wining and dining at the most exclusive resorts in the nation. Whether any of this makes sense?
My comment: Live it up at the expense of whom? Thanks for your thoughts.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai, China in 1947 and keep learning the American way of life with scholarly innocence and naivete.
October 8, 2008 at 10 a.m.
Tuesday, October 7, 2008
USAToday and Washington Times,Oct.7, 2008
USAToday,page 1A: page 7D:
Money and the economy topped the list of stressors for at least 80% of those surveyed by American Psychological Association. Finances now overshadow the more typical daily stressors of work and relationships.
Page 4B: Stocks continue downward march: Tumble as street worries about financials. Stocks Dive around globe,indeed!
Washington Times. Oct. 7,08 Page A17: Economic Theology -
In Matthew 20: "That a rich man shall hardly enter into the Kingdom of heaven. It is easier for a camel to go through the eye of a needle than for a rich man to enter the Kingdom of God." Let us avoid the cardinal sin of avarice i.e. "Tanxin" in Pin Yin for Chinese phonetic equivalents.
The present financial crisis may be viewed religiously as a call to be poor to enter Heaven and to disregard the mundane world. Perhaps it is Laotianye's design to make folks to be aware of the mundane world in transit to seek the "Tiantang" in Pin Yin.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of philosophy,economics and religion.
October 7, 2008 at 3.40 p.m.
Money and the economy topped the list of stressors for at least 80% of those surveyed by American Psychological Association. Finances now overshadow the more typical daily stressors of work and relationships.
Page 4B: Stocks continue downward march: Tumble as street worries about financials. Stocks Dive around globe,indeed!
Washington Times. Oct. 7,08 Page A17: Economic Theology -
In Matthew 20: "That a rich man shall hardly enter into the Kingdom of heaven. It is easier for a camel to go through the eye of a needle than for a rich man to enter the Kingdom of God." Let us avoid the cardinal sin of avarice i.e. "Tanxin" in Pin Yin for Chinese phonetic equivalents.
The present financial crisis may be viewed religiously as a call to be poor to enter Heaven and to disregard the mundane world. Perhaps it is Laotianye's design to make folks to be aware of the mundane world in transit to seek the "Tiantang" in Pin Yin.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of philosophy,economics and religion.
October 7, 2008 at 3.40 p.m.
Wall Street Journal,NY Times,USAToday Oct.7, 2008
WSJ Oct.7th on page A1: Investors succumb to fears of recession.
Page A10: Older workers report having been affected by economic changes in the last 12 months - Had trouble paying for basic items.
Page A15: China is lifting oil output. International Energy Agency in Paris expects China to increase production by 300,000 barrels a day in 2009.
Page A19: China bolsters daily supply oversight in effort to rebound from scandal -i.e. requiring firms to perform expanded tests on raw milk including checks for melamore and other nonfood additives.
Page A27: Nobel Laureate 1992, Prof. of Economics Gary Becker stresses market competition on a global scale for growing trade. I do concur such Law of Comparative Advantage. http://home.uchicago.edu/~gbecker.
NewYork Times: Page A1: Fears of Banking instability and global recession.
Page A24: Latin was rejected as irrelevant but is making its way back on to school currickulum in New York. I still remember "Sursum Corda and Per Omnia Secular Seculum." "Dominus vobisco" et al.
USA Today Oct.7,2008 Health takes a hit as economy creates more stress:
Economic stress is taking its toll on Americans' emotional and physical health, survey data shows. More than half of American report irritability or anger,fatigue and helplessness, and almost half say they self-medicate by overeating or indulging in unhealthful food. My comment: Why be negative? Be positive with faith,hope and love plus upbeat and cheer in spirituality.
Francis Shieh a.k.a. Xie Shihao to be positive in my scenarios for mindset. Oct.7, 2008 at 1.36 p.m.
Page A10: Older workers report having been affected by economic changes in the last 12 months - Had trouble paying for basic items.
Page A15: China is lifting oil output. International Energy Agency in Paris expects China to increase production by 300,000 barrels a day in 2009.
Page A19: China bolsters daily supply oversight in effort to rebound from scandal -i.e. requiring firms to perform expanded tests on raw milk including checks for melamore and other nonfood additives.
Page A27: Nobel Laureate 1992, Prof. of Economics Gary Becker stresses market competition on a global scale for growing trade. I do concur such Law of Comparative Advantage. http://home.uchicago.edu/~gbecker.
NewYork Times: Page A1: Fears of Banking instability and global recession.
Page A24: Latin was rejected as irrelevant but is making its way back on to school currickulum in New York. I still remember "Sursum Corda and Per Omnia Secular Seculum." "Dominus vobisco" et al.
USA Today Oct.7,2008 Health takes a hit as economy creates more stress:
Economic stress is taking its toll on Americans' emotional and physical health, survey data shows. More than half of American report irritability or anger,fatigue and helplessness, and almost half say they self-medicate by overeating or indulging in unhealthful food. My comment: Why be negative? Be positive with faith,hope and love plus upbeat and cheer in spirituality.
Francis Shieh a.k.a. Xie Shihao to be positive in my scenarios for mindset. Oct.7, 2008 at 1.36 p.m.
Subscribe to:
Posts (Atom)