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.
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