New comments re Wall Street Journal,May 17-18, 08

I sent my blog dated May 18, 2008 re economic philosophy to be applied to folks in China and in the USA with varied custom/ tradition of culture:

I have been stressing the lifestyle of human behavior for decades and I have recommended the lowering of human desire in the denominator of a fraction for Happiness Equation. Happiness is not material consumption over desire only but add intellectual pursuit and spiritual satisfaction and good health et al as the factors for numerator. I lectured in Shanghai in 1981 to that effect. After the recent US financial crisis, I came across the word recently: frugality as the way of life in the media for Americans. Such change of mindset with the same rationale would be desirable in light of current state of the economy. I do remember the word: THINK when I was an accountant at IBM, San Jose,California in 1957-58. In this regard,I recall a Chinese aphorism: "San si er xing" i.e. 1.Think 2.Think it over 3. Think again before taking any action. In other words,any abuse of credit and thoughtless action has caused the crisis for homeowners and the banks apropos of financing mortgages. However,the "lai long qu mai" i.e. the coming and going of money and credit would be a compound-complex matter to be revealed hopefully during the course of time. True happening may be multi-dimensional in economics.

Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from Shanghai,China in 1947, is willing to learn the field of economics as a multi-faceted discipline. November 30, 2008 at 7.12 a.m.