Washington Post,Oct.7, 2008 on pageD3:
Thomas Hartman,an analyst at Altavest Worldwide Trading said: "Investors piled into gold futures with moving the dollar. That is the flight to quality. Folks want tangible things and gold is truly an asset, whereas currencies i.e. euro,the dollar are papers and some investors are uncomfortable now. My comment: Gold and other metals have intrinsic value especially in Asia or China in particular.
Page D2: Headlines:
As economy slows, deflation could loom: Analysts point to slow spending, tight credit months after inflatin scare.
Adam Lerrick, an economist at Carnegie Mellon University said: " Oil is down but does anyone expect it will be lower in the years to come? Another economist, Bill Gross said: "Capitalism depends on mild inflation. If not,the dynamics of capitalism move in reverse." My brief comment on inflation may be seen at www.msn.com
New York Mayor Michael Bloomberg urged British and US to use caution. He said:"There are plenty of emerging financial capitals that are gunning for us: from Dubai to Shanghai, and from San Paolo to Singapore." He means globalization of international finance including Shanghai,the city holds Expo in 2010. I visited Shanghai three times in the last nine months. Moreover,I visited Singapore in 1995 and San Paolo in 1997 to see the law-abiding folks in Singapore and the good things of relatives in Brazil especially in San Paulo.
China's Ping An Insurance had a $2.3 billion loss on its stake in troubled European bank Fortis. Chinese institutions have been largely unaffected by the credit crisis that has battered US and European banks. Chinese institutions' holdings of bonds linked to troubled US mortgage lending are limited. Such is a good reference for Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao,a student to study economics in different nations for understanding the globalization in the 20th century to be updated into 21st century. Oct. 7, 2008 at 11.15 a.m.