Page A3: L. Summers and R. Rubin called for substantial fiscal stimulus to act aggressively to boost a flagging US economy well into next year or even longer.
I sent my blogs to the same effect.
Page B3: Lowe's,Home improvement chain with net falls 24% as consumers retreat. Recession is here in USA.
Page A12: Slowdown depresses China's fuel demand: A sharp drop in demand is hurting business. However, China's imports of crude oil grew at brisk pace taking advantage of cheap global oil prices for strategic petroleum reserve.
Page A20: Can placebos help our economy? The markets will ultimately demand that confidence be based on reality. I sent my prior blogs stressing empirical evidence as REAL ECONOMICS.
Page C3: Jin Liqun (with recent photo,)Chairman of China Investment Corp's supervisory board. Mr. Jin joined China's $200 billion sovereign wealth fund after serving as VP of Asian Development Bank and China's Vice Minister of Finance.
I do remember vividly that Mr. Jin and his boss,a director at World Bank came to visit me in 1981 when he told me that he was an English teacher in Sichuan with his command of the English language to pass the exams to join the Ministry of Finance for position requiring his skill in English. He was then trained in the field of economics at World Bank and became a high ranking official in banking and finance.
Page C6,C19: Bank of America boost its stake to 19.1% in China Construction Bank with US$7 billion,44.7 billion shares. Such is a sign of confidence in China's economy.
Page A16: New York Times:
Candidates for Obama's Inner Circle: John Brennan,B.A. from Fordham University,New York
Jacob Lew,B.A. Harvard with law degree from Georgetown University Law School. Both Fordham and Georgetown are under the Jesuits as top educators in China and in USA as I was a product many decades ago.
Francis Shieh a.k.a. Xie Shihao, a reader to recall my past personal experience from the above citation with fond memories.
Tuesday,November 18, 2008 at 2.52 p.m.