No Credit for Doing the Right Thing with Chinese inputs

Letter to the Editor by KB Forney of Gaithersburg: Published by the Washington Post,December 10, 2008 on page A24 -

"Consumers are no longer buying on credit as we are saving as much of our money as possible. We are investing more in reliable, if unexciting, bonds. We are being required to live in homes we can afford. Isn't this exactly what economists have been telling us to do for years? And yet the economy is crashing. We are finally doing all the right things, and it is destroying our way of life. Would someone like to explain this to me?

OK. I'll try to explain to you as an octogenarian student of economics: Hear(or listen carefully) both views and make up your own mind if you wish to make up your mind. Or,you may be reminded of the words of wisdom from Professor John Kenneth Galbraith:"There are those who don't know and those who don't know they don't know." However, if you wish to learn from Chinese cultural aphorism:"Shun li cheng zhang" in Pin Yin system of romanization,meaning "Logic begets reason!" Or "Sui ji ying bian" meaning "Resourceful act according to circumstances." In this regard, "A Glimpse of the Chinese Language" in English may be useful to understand the Chinese Pin Yin system of romanization i.e. phonetic equivalents of the Chinese language. Free copies are available if readers would visit www.rand.org and search "A Glimpse of the Chinese Language" via PDF as public service for public interest in USA or in the world.

Francis Shieh a.k.a. Xie Shihao on Wednesday,December 10, 2008 at 10.18 a.m.