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.
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