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.
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