Friday, January 23, 2009

Geithner says China manipulates its currency:flubbed confrontation

Washington Post,January 23, 2009 on page A8: It has cautioned that China should NOT be made a scapegoat in a time of crisis. Eswar Prasad, a senior fellow at the Brookings Institution said: "Things are going to get quite heated on the China-US front. This statement was clearly a shot across the bow... Some Republicans say Geithner's tax errors reveal larger character flaws. To have exchange rate conflict with China would not be in the best interest of the United States. The following points or pointers are written for the reader's awareness apropos of the issue of issues for US-China economic relations:-

1.Recession in one nation tends to be transmitted to other nations as we have been witnessing in the global scenes. Globalization re international trade of goods and services should be understood as the Law of Comparative Advantage known to students of economics.

2.International coordination of economic policies is significantly important in the 21st century for the benefit of peoples in trading nations. However,such operations may be elusive in a world of sovereign nations. Both USA and China are sovereign nations and both nations are members of the Security Council of the United Nations.

3.Protectionist policies will not cure the US trade deficit because they will cause the dollar to appreciate and they may provoke foreign retaliation.

Food for thought as metaphor for readers to be aware of such flubbed confrontation as "moxuyou de duikang" in Pin Yin system of romanization of the fitting and proper Chinese expression. "A Glimpse of the Chinese Language" www.rand.org may be a reference for phonetic equivalent of such Chinese aphorism.

Francis Shieh a.k.a. Xie Shihao,former Economist with US Department of Labor(1965) and Fulbright Senior Scholar,1989-1990.

January 23, 2009 at Andrews AF Base library, January 23, 2009 at 10.10 a.m.

Thursday, January 22, 2009

USAToday, January 22, 2009 Hightlights with light anecdotes

Page 1A: First Lady Obama chose Jason Wu dress in white. Hong Kong dress designer's influence of art in the White House. Chinese art is highly appreciated in the West.

Page 2A: US biographer Robert Kuhn finds niche profiling Chinese leaders. Beijing Wangfujing Bookstore is loaded with books about Barack Obama and Hillary Clinton for avid readers to read American leaders.

A graduate student named Hu says:"From ancient times until now, the Chinese have been MODEST. We don't like to tell others about our ability or beauty. But in America,if you have ability, you publicize it." However,Professor Lam at the Chinese University of Hong Kong would demur by saying: "Not True." It is a matter of opinion.

When I came to the University of San Francisco in 1947,a schoolmate asked me about love in China. I said:" We don't express our feelings openly but know our feelings at heart." Such is the influence of Confucianism. "Silence is golden" versus "there is no impression without expression." Such may be applied to romance,indeed!

To my recollection,when I was teaching in Hong Kong,1989-1990,I encountered two types of students. Those who have been exposed to Western ways, addressed me as "Francis" but those who keep the Chinese tradition called me:" Professor Xie" with a bow under the influence of Confucianism. Cultural differences!

I also remember the Japanese way to show respect to bow down all the way to show respect as Richard Moorsteen mentioned to me when we were at the RAND Corporation in 1964-65. I visited Japan as a guest of Prof. Koh of Tokyo University in 1985. The service girls bow to customers in Japan and Korea. In a Japanese restaurant,a Japanese waitress would kneel down to serve tea to customers. Not in the USA for sure!

Page 4B: Stocks soar as investors reverse course.Increase in demand leads to higher prices. It is the reflection of investors to buy or to sell to cause ups and downs in the market prices for goods and services. Common sense but graphic presentations can be shown in economics.

Francis Shieh a.k.a. Xie shihao on Thursday,January 22, 2009 at 3.08 p.m.

Washington Post,January 22, 2009 Page D7

Common Ground for USA and China: "Paradox of Thrift" + "Paradox of Mindset"

China's economic slump deepened in the final quarter of 2008 as the impact of the global financial crisis spread. Economic growth plunged to 6.8% down from 9%.

Exporters have been hit hardest but spread to domestic industries as demand for autos,real estate and other goods weakens.

China's stimulus plan calls for higher spending on construction and oher projects, but success would depend on firms and consumers to spend more, reducing reliance on exports.

Chinese government encourages individuals,households to save less and spend more for the nation apropos of "Paradox of Thrify" plus the confidence in the government to recover from financial crisis via spending to boost GDP in China and in USA as well.

However,adjustment of consumer spending pattern will not happen overnight and folks in China and in USA are thinking about the global financial crisis in their minds. Hong Kong folks are spending less for the Lunar New Year as reported by Phoenix TV.

Francis Shieh a.k.a. Xie Shihao on Thursday, January 22, 2009 at 12.05 p.m.

Wednesday, January 21, 2009

Wall Street Journal,January 21, 2009

Page A1: President Barack Obama: Headline-A day of history as new leader urges unity amid raging storms of war and recession: War on Terrorists and Recession due to global financial crisis. Both USA and China have encountered the threat of Terrorism. Shares of citigroup fell 20% to $2.80 a share and Bank of America Corp shares were down 29% to $5.10. However,banks in China seem to be doing OK especially the upcoming Lunar New Year of the Cow/Ox effective January 26, 2009.

Page A3: US Senate confirms Steven Chu as Energy Secretary. He is a Nobel prize-winning physicist. His role is to help Obama administration craft its new energy policy including US-China energy relations for mutual benefit as he testified in Congress several days ago. Chu should be Zhu in official Pin Yin system of romanization but the Last name sounds like "Drool" as I sent my prior blog to explain such phonetic equivalent for Westerner to utter the names of the Chinese people. My last name should be Xie in official Pin Yin but I am stuck with Shieh in 1947 as a variation of Hsieh as per the Wade-Giles system of romanization. "A Glimpse of the Chinese Language" explains such discrepancies. www.rand.org for the publication of such work.

Page A12: Col.Hu Changming of China said he hopes the US and China can improve military relations(RAND Corporation researchers made recommentation for military exchanges with China decades ago) but remove the weapon sales to Taiwan since China has improved economic relations with Taiwan under Ma,President of Taiwan and vice versa. It would be to US interest when there is peace across the Taiwan strait.

Page A14: Anxious investors pummeled share of Bank of America and Citigroup which some observers think might be nationalized. A bit of humor: Bank of America bears the name of a bank of America i.e. USA. It is mistakenly considered as a public bank of USA to new immigrants in particular even though it is a private bank as known to Americans. Such misnomer may be regarded as "paradox of mindset" as an economic model during the financial crisis.(sic)

Page A17: Develop Human Capital for USA with economic benefit and an active lifestyle plus sensible nutrition. Walking and riding with a bike would be good for health for folks in USA and in China as well. Eat lots of veggies and fruits would be desirable for health as human capital in USA and in China. There is the common ground and nobody would impugn,indeed!

Page B5: As China's economy slows,Carrefour,a French store, tries discounts;Gillett tugs heartstrings in bid to keep consumers spending in China.

That is all for Sino-American economics on January 21, 2009 at 2.52 p.m.

Francis Shieh a.k.a. Xie Shihao,an observer of Sino-American economics in the works.

WashPost,Jan.21,09 Headline: OBAMA TAKES CHARGE

"Huge crowd converges to witness historic inauguration": Nation asked to begin task of 'Remaking America' Remaking America to have good relations with other nations especially economic relations with China. Such rationale is stated by Secretary of State nominee Hillary Clinton several days ago. It is obvious that two great nations on both sides of the Pacific must cooperate and collaborate with many global problems. I mentioned such in "Work and Study Cycle Theory"(1978) as the main conclusion in such work for my vision. Cf. www.loc.gov(Library of Congress online catalog and Georgetown University Library online catalog for information.

Such headline reminds me of the book entitled "Remaking China Policy" by Richard Moorsteen,RAND Corporation economist. www.rand.org for reference. Published by Harvard University Press,1971. I hsppened to review the book at the library of Foreign Service Institute of the State Department in 1998.

Economists are expected to have vision. Economist Richard Moorsteen had such vision in 1960s. When I was doing research at RAND,I published "A Glimpse of the Chinese Language"(1965)www.rand.org for reference. On page 8,I hinted for China to join the international community involving US engagement with China for mutual benefit as my vision. The energy security problem is a case of point as Secretary of Energy nominee Steven Chu answered the queries in Congress several days ago apropos of China's role for global energy problem.

It is 2009 now and international financial crisis would need China to play an important role for global economic crisis.

I have reason to believe that President Obama will follow up such policy with positive scenario for the best interest of America re US-China economic relations.

It is interesting for the readers to witness such happening as envisioned by economist Moorsteen decades ago with my paper for endorsement in the same track four decades ago.

Francis Shieh a.k.a. Xie Shihao on Wednesday,January 21, 2009 at 10.25 a.m.

Positive and negative comments apropos of Inaugural address

Perhaps the following would be food for thought as metaphor: -

"Words from a wise man's mouth are gracious, but a fool is consumed by his/her own lips."

Relevant or otherwise? You be the judge for the above aphorism.

Francis Shieh a.k.a. Xie Shihao,a student of words and rhetoric for 6 decades plus.

January 21, 2009 after Inauguration Day,January 20, 2009

Tuesday, January 20, 2009

Culture: a part and parcel of Sino-American Economics

CULTURE: the school-learned, family-inherited lifestyles and socially acquired traditions of the folks of a nation including their patterned and repetitive ways of thoughts and actions as general information for this blog.

In China: Confucianism appears to be the primary motivating force to influence Chinese folks from generations to generations in a nutshell in the East.

In USA: Western culture appears to follow the Judeo-Christian tradition. However,such influence must add other religions of minorities in the United States and other nations in the West.

My succinct awareness would be subject to comments by the readers with specific knowledge of other religions as part of the culture.

Francis Shieh a.k.a. Xie Shihao, an octogenarian lifelong student of comparative culture in a jiffy.

Tuesday,January 20, 2009,Inauguration Day at 3.38 p.m. without any in-depth research.

Sense of humor for fun of a fine day with Great Deal

Today is Inauguration Day, a big day in USA and for the whole world. Nobody would impugn. However,the following is fun for the readers to know with your own savvy: -

Audience is like madcap;(simile)

Performers are just doers.(metaphor)

The best way is to watch TV instead of going through all the hassle to watch such festivities on the spot.

"Kandianshi shi shangce." in Pin Yin system of romanization. Concur or demur. The choice is yours!

Francis Shieh a.k.a. Xie Shihao, an octogenarian to take things easy. Wallow in it and revel in it as well.

Tuesday, January 20, 2009 on this historical day to have a new President Obama. Sounds like Oh! Pa and Ma!(copyright with c in a circle) We are the offspring. Hehehahahoho all the way to be centenarians.

Monday, January 19, 2009

The Great Foreboding(Omen) WashPost,1/19/09

Robert J. Samuelson published the above title:-

Now, managers, investment bankers, journalists, scientists - almost anyone -can be canned.

What offends middle- class Americans, most of us, is economic capriciousness. People crave order,predictability and security. They want to believe that personal virtues of studying, working hard and planning will be rewarded in the market-place. In today's economy, the disconnect has widened. Setbacks and losses seem increasingly divorced from personal effort. Our whole values system seems besieged.

As an educator,I belong to the middle class and have developed a keen insight to nuance with upbeat during the period of intellectual challenge.

Bird flu in China has been discovered. Such scenario may be classified as a threat to human health. However,the expression of "paradox of mindset" may be alerted under the financial crisis and health hazard in the global context.

Francis Shieh a.k.a. Xie Shihao remembers "to live is to learn" as my motto with cheer.

Monday, January 19, 2009 at 10.16 a.m.

Saturday, January 17, 2009

Washington Post,January 17, 2009 with comments

The large 4th quarter losses reported by Bank of America and Citigroup showed the depth of the recession:the economy continues to deteriorate. Credit quality deteriorated further: Consumers continued to experience high levels of stress from declining home prices, rising unemployment and tighter credit conditions. But the worst will be over with faith hope and understanding.

Bank of America slashed its divided to a penny per share, down from 64 cents a year ago. Citigroup will pay a penny a share,down from 54 cents.

Chinese New Year Concert 2009: The Qingdao(Shangdong Province) Symphony Orchestra will be performing at the Kennedy Center Concert Hall on February 1, 2009. The Lunar New Year starts on January 26, 2009. I shall leave Washington,D.C.on January 24th and arriving Shanghai on January 25, 2009 for New Year's Eve celebration. On Sunday,US Marine Band string will play at Lincoln Memorial,Principal Violist F.Chris will be performing as a member of USMC Band,"the President's Own".

Francis Shieh a.k.a. Xie Shihao,an American citizen imbued(chongman in Pin Yin) with my native Chinese language and culture by virtue of my background. I am looking forward to witness Inauguration re a new President Obama on January 20, 2009 in making American multi-cultural history with global repercussions. Jan.17,09 at 10.52a.m.

Friday, January 16, 2009

Bank of America gets new round of US aid

"Washington Post,January 16, 2009 on page D1: Bank of America joins Citigroup and AIG on a list of financial giants that have required multiple rounds of help. The companies, considered too large to fail, incresingly appear hard-pressed to make it on their own. US government is now the largest shareholder in all three institutions; the latest investment in Bank of America brings the taxpayers stake to about 6%." Here is evidence of Political economy as the result of happenings in Socio-Economics.

Public sector has come to rescue the private sector. That is the role of government in the economy as I have been studying for many decades. Sino-American Economics via www.Google.com may be searched for intellectual enrichment.

On page D3: Steven Pearlstein wrote: "It would be great if there were a simple way out of this political and economic conundrum,but there isn't."

Can we still support a higher lifestyle with paper wealth? I also raised such query with philosophical underpinning. Should we make every effort to manage a necessary but painful reduction in our collective standard of living? Pearlstein asked such question. Readers can have own scenarios in the days to come.

A robust educational system with ethics and morality focus is centered to our economic future and national security. Adam Smith and Confucius/Mencius had the same aphorism in economic philosophy. Different timeframe but human nature is still mundane and spiritual with both strength and weakness of varied lifestyles.

Francis Shieh a.k.a. Xie Shihao,a student of liberal arts since early 1940s but would love to learn economics in action on daily basis.

Friday,January 16, 2009 at 10.22 a.m.

Wednesday, January 14, 2009

Global Trade Posts sharp decline

Wall Street Journal,January 14, 2009 page A1:

Combined exports and imports by the US, the world's largest economy, droped 18% from July to November 2008. China posted its most severe foreign trade decline in a decade.

Consumers are cutting their spending virtually everywhere. The consequence is obvious.
Page A2: China hit by big capital outflow, but data indicate continuing purchases of US Treasurys. Evidence of Sino-American Economics!

Page A13: Paul Kennedy, Director of International Security Studies at Yale University.

"Overspending and military overstretch are contributing to the decline of the US and the rise of Asia.

Page A26: Susan Schwartz's letter to the Editor,New York Times,Jan.14,2009:

"Thomas Friedman wants to double the salaries of all math. and science teachers to make US more innovative. But without language teachers to teach students to read and comprehend incresingly complex materials and how to communicate it clearly to others and without social science teachers to teach students about the global economy and the diverse cultures,we would not be able to interact properly."

Math.science and technology will not increase American competitiveness.

We must make investment in human resources in America as I sent my previous blogs apropos of the needs of linguists and economists in the 21st century for the best interest of USA.

Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics and Chinese/English languages.

January 14,2009 4.06 p.m.

Steven Chu,nominee for Energy Secretary,Nobel Physicist

Washington Post,January 14, 2009 on page A9:

Chu testified in Congress: "It is now clear that if we continue on our current path, we run the risk of dramatic, disruptive changes to our climate in the lifetimes of our children and grandchildren.

He said:"at the same time, we face immediate threats to our economy and our national security that stem from our dependence on oil. If the world continues to use coal in US, China et al,it is a pretty bad dream. But the US could continue to tap its abundant coal reserves.

As a student of the Chinese language,I would like to point out that his last name Chu should be Zhu for the official Pin Yin system of romanization. The classical meaning of Zhu may be the red color implying the wealthy household. However,he is stuck with Wade-Gile system of Chu and I am stuck with Hsieh (or Shieh) instead of Xie as the official phonetic equivalent for the character of "thank" for my last name. The Chinese character -Xie has 17 strokes re traditional and 13 strokes for the simplified. "A Glimpse of the Chinese Language" in English is hereby dedicated for elaborations.Visit www.rand.org for information.

Francis Shieh a.k.a. Xie Shihao,thanks from "a hero of poetry" as my personal name.

Wednesday,January 14,2009 at 10.10 a.m.

Global War on Terror :Two kinds of warriors

Since 9/11/2001, the United States has fought to wage the global war on terror on our terms and off our soil - Keeping our homeland safe from attack and the terrorists on the run. On the front lines of this historic operation are some of the US finest warriors, including those who make up the US Special Operations Command of the Army,Air Force, Navy and Marines.

The above is contemporary happenings but below is ancient history as contrast of warriors.

Washington Post,January 7,2009 on page C1: Warriors from China on display to charge admission $6-$12: National Geographic Show means an opportunity of viewing historic relic from China. The legendary terra-cotta warriors of China are coming to National Geographic Museum for the first time to charge admission. The life-size figures will open Nov.19 in the museum at 17th and M streets,NW,Washington.

Here is another empirical evidence of Sino-American Economics.

To my recollection,a warrior said in jest: "After 100 years,there is no difference!" That statement was made in 1953 when I was teaching at ALS in Monterey,California. Food for thought as metaphor.

Francis Shieh a.k.a. Xie Shihao,a viewer of terra-cotta warriors in Xian in 2001 as a tourist.

Wednesday, January 14,2009 at 7.28 a.m.

Tuesday, January 13, 2009

Wall Street Journal,Jan.13,2009 US seeks rest of bailout cash

Page A1: Banks still set on large losses from bad assets. A rise in productivity would be a potentially positive mark on the economic record.

All the works in 1970s are designed to enhance productivity via education and training such as "Keys for Economic Understanding" et al.www.Amazon.com for reference.

Page A4: Secretary of State Nominee Hillary Clinton calls "smart power," including economic agreements and social development (i.e. economic development for American society) that invests in our common humanity."

China is dedicated to serve the best interest of humanity. Here is Sino-American economics with common ground.

Page A17: "The Fed pumps money into the economy by buying Treasurys with checks written on thin air. The Treasury quickly sends on huge ongoing expenses of a trillion dollar deficits. Recipients of its spending put the money into bank accounts and presto, the money comes right back to the Treasury to financing yet more government spending." Mr. Melloan wrote. Such operations are most intriguing to the outsiders.It is a wonderful show to the audience in the world.

"Keynesians were banished in the 1980s by Reaganomics but made a comback years ago and again control US levers of power." The former deputy editor of Wall Street Journal editorial page said.

WSJ,January 12, 2009: Page C2: China opens Bond Market.
Shanghai - Foreign banks are allowed to trade and underwrite corporate bonds via interbank market. Let us rack our brains as hyperbole with humor("Jiao jin nao zhi" in Pin Yin)to understand Sino-American Economics with ease.

Francis Shieh a.k.a. Xie Shihao,a student of economics in action.

Tuesday,January 13, 2009 at 3.06 p.m.

Washington Post,Jan.13,09 Front page on Foreign Policy

American foreign policy must involve China. Carter and Kissinger are in China for remembering and celebrating 30th year of normalization between US and China.(1979-2009) Visit www.Google.com and click on Sino-American Economics.

It is the economy for astute folks to assess the international relations in the 21st century. China is holding US government securities as an investor. The case rests here for understanding such record of mutual benefit.

On page A15,Marc Plattner published an article entitled "Democracy's Competitive Edge" It would be timely to define Democracy in America from Gettysburg Address with the lines: "of the people,by the people and for the people" Moreover,new president Obama will focus on the wellbeing of the American people.

China's official name is People's Republic of China. It is high time to acknowledge China's market system in terms of buying and selling in the markets. It is true for the writer to see "China's remarkable economic growth." And such empirical evidence would be relevant to recognize that China has joined international community to cooperate and collaborate with other nations to solve global financial crisis during the course of time.

On page D3: Economist John Maynard Keynes dubbed the phrase "the paradox of thrift." I would venture to state "the paradox of mindset." In other words,the perception and the reception of folks' attitude would have an impact on measures to be taken to overcome such serious downturn or economic depression. We must have faith,hope and charity to work for the wellbeing of all.

Francis Shieh a.k.a. Xie Shihao, an independent observer and a lifelong student of political economy.

Tuesday, January 13, 2009 at 10.38 a.m.

.

Jimmy Carter and Henry Kissinger in China:30th anniversary of normalization

Henry Kissinger,former RAND consultant issued a public statement in 1998 as a follow-up of the insightful wisdom of Richard Moorsteen's book "Remaking China Policy" Harvard University Press,1971 with the endorsement of Elder George Bush and Gerald Ford:-

American foreign policy can not succeed if it fails to engage China. Such rationale may be seen on page 8 of "A Glimpse of the Chinese Language" RAND paper#3078 published in 1965. www.rand.org for reference.

Establishing strong, enduring ties with China has been a principal objective of American foreign policy since President Nixon's historic visit in 1972, and has been supported by all subsequent administration of both parties. I would envision the new president Obama will visit China for affirmation of the significance of constructive Sino-American relations. In the meantime, Sino-American economics may be viewed at www.Google.com.

The strategic relationship is underscored by current global financial crisis and it is in the vital interest of the United States that China continues to be a member of international community to make contributions for humanity.

Francis Shieh a.k.a. Xie Shihao,Fulbright Senior Scholar,Hong Kong,1989-1990.

Tuesday,January 13, 2009 at 7.06 a.m.

Monday, January 12, 2009

New York Times and WashingtonTimes,Jan.12,2009

NYTimes: Paul Krugman, Nobel Laureate in Economic Science 2008 - Ideas for Obama -

"Economic forecasting is an inexact science,to say the least, and things could turn out better or worse than the report predicts." This reminds me of the wisdom of Professor John K.Galbraith:"There are those who don't know and those who don't know they don't know." Krugman advocates for government investment as I advocate the investment in the public education to train human resources.Cf. prior blogs.

Washington Times: Page A1 Obama climate czar has socialist ties: Socialist International, a group for social democratic parties such as British Labor Party. Mrs. Browner represented the US for a speech entitled :How do we strengthen the multi-lateral architecture for a sustainable climate" including Russian and Chinese participants.

When Obama won the election,a statement from Socialist International was issued: "The sky may seem a bit brighter today" My thought: The sky is to be under global governance in climate. Any comments?

On the same Page A18,a photo of President Bush and Mrs.Bush leave St.John's Episcopal Church on Sunday,Jan.11,2009. That reminds me of St.John's University in Shanghai, China as a student from 1943- 1946.

Francis Shieh a.k.a. Xie Shihao on Monday,January 12, 2009 at 4 p.m.

David Smick,author of "The World is curved:Hidden dangers to the Global Economy"

Washington Post,January 12,2009 Page A13 published "Memo to the banks:Lend or else" by David M. Smick.

"Greenspan theorized that the paradigm shift that moved the 1980s toward greater optimism came largely from something unanticipated.

American consumers are undergoing long-term retrenchment. Consumption patterns may be returning to the lower levels of previous decades. That could mean that even $1 trilliion package may be far too small to do more than keep the contraction from worsening.

But there is a larger point. Economies are driven by more than numbers - the size of either stimulus spending or interest rate cuts. They are driven by PSYCHOLOGY. Americans see the US financial sytem and the larger global system as a bus racing down an icy mountain road toward a village - with no one behnd the wheel."

I enjoyed this article very much since such rationale is similar to my prior blogs.

On page A12 Professor of Economics Ransford Palmer wrote about the futre of US manufacturing:

"The solution is moving substantial parts of the industry to the South or to low-cost foreign sites,where US susbsidiaries are already producing cars more efficiently. " Such thought reminds me of General Motors investing $2 billion in Shanghai,China several years ago.

The above may be seen as a part and parcel of Sino-American economics in terms of globalization.

Francis Shieh a.k.a. Xie Shihao on Monday,January 12, 2009 at 10.18 a.m.

Sunday, January 11, 2009

Patrick Buchanan and Labor Secretary's views

Investor"s Business Daily,Jan.12, 2009: Page A15:

Obama and the Democrats are taking a historic gamble, not only with their careers but with the country. If this monstrous stimulus package -plus the trillions in hot money - do not work, if the two ginite rampant inflation - rather than real growth - we are all out of options. The toolbox is emptyWhat will follow -may truly resemble the 1930s. Prof. Galbraith's wisdom:"There are those who don't know and those who don't know they don't know." My comment: Pat Buchanan is not an economist.

New York Times,Jan.10, 2009 page A12: Both departing Secretary of Labor Ms Chao and incoming Ms. Solis stresed the expanding role of community colleges. "The Future of Community Colleges" Congressional Record,July 18, 1974 for reference.

Francis Shieh a.k.a. Xie Shihao, a student of economics. Jan.11, 2009.

Aircraft carrier honors Elder Bush et al

Page A2:Norfolk, VA,Jan.10th - In a final presidential journey rife with pomp and nostalgia,("liu xing de sheng kuang gen huai jiu" in Pin Yin system of romanization" President Bush joined family and friends here Saturday to commission (wei-ren)a new aircraft carrier named for another US president: his father. I heard on C-Span radio with all the details last night.

Page F3: The Markets Will Rise Again: Patience pays. Investing remains (or should be) a long-term process. With the economy sagging badly,this isn't the right time to be a swashbuckler(mao xian jia in Pin Yin) Food for thought to the investors!

Starting January 12, 2009, go to washingtonpost.com/bush-legacy/to watch a video of this discussion, browse photo galleries documenting Bush's presidency and explore major events during the administration on an interactive timeline.

Both elder Bush and President Bush are friends of China to promote positive US-China relations in the past years. It would be proper to show deference, humility and flexibility to the Office of Presidency.

FED Chairman Ben Bernanke will give explanation of the recent rate cuts and other moves on Tuesday,January 13, 2009 re the policy response to the crisis.

Inauguration-watching events are open to the public. E-mail: tellus@washingtonpost.com

January and February 2009 issue of "Foreign Affairs" magazine:

Page 11: China's $2 trillion portfolio(tou zi zu he in Pin Yin) of foreign exchange reserves by 700 billion last year,thanks to currency account surplus at foreign direct investment.

Page 168: China,the preeminent holder of global savings may now be in a position comparable to the US in 1930s. China would need to work through institution such as World Bank.

"Foreign Affairs" Magazine: January and February 2008 issue with the cover page of "Changing China": Can the West Handle Chinese Power? Yes,when Westerners would study the Chinese language for communication with better understanding. Moreover,Reception and perception would be more friendly when Chinese language is used directly for mutual benefits. The new US Secretary of Treasury studied Chinese for the obvious reason decades ago with his smart vision. Moreover,Prime Minister of Australia - Rudd speaks fluent Chinese with his insight as well.

Francis Shieh a.k.a. Xie Shihao on Sunday, January 11, 2009 at 2.06 p.m.

Can the US pay back the borrowing?Greg Ip's article

Greg Ip is US economics editor of the Economist. Published by OUTLOOK, the Washington Post,January 11, 2009 on page B1,B4:-

Thanks to the advent of credit derivatives - financial contracts that allow investors to speculate on or protect against default - we can now observe how likely global markets think it is that Uncle Sam will renege on America's mounting debts.

The Obama administration should not focus on debt reduction now, which could actually undermine the prospects for a recovery in the REAL economy. With households and businesses trying to spend less and save more, the federal government must spend more and save less - that is borrow more - in order to prevent a self-feeding downward spiral in economic activity. Once the recession is over, getting our debt burdens down will hinge on Obama's and Congress's willingness to confront the looming cost of Social Security and Medicare benefits for the aging US population. That remains to be seen. Who has the definite answers?
Professor John K. Galbraith on Forecast: "There are those who don't know and those who don't know they don't know." Such may be educated guestimates!

Sino-American Economics is always in the works as long as China is holding US government securities as a friend of the United States in the global context.

Francis Shieh a.k.a. Xie Shihao,a lifelong learner to seek knowledge of economics in action apropos of beautiful rhetoric.

Sunday, January 11, 2009 at 10.06 a.m.

Saturday, January 10, 2009

"Needless language fear:"WashPost,Jan.8,09 A14

Milton Hernandez wrote his letter to the Editor:

George Galasso's letter,"The Language We Speak in America," reminded me to Benjamin Franklin's concern in 1751 about the large number of German immigrants, who might "Germanize" Pennsylvania. Apparently, not enough Germans spoke English in those days, at least not enough of them to satisfy Franklin. Needless to say, speaking the German language might not be desirable during the Second World War even though it was useful for the military reasons.

As those Germans and other immigrants have proved throughout the years with their assimilation and enriching contributions, Mr. Galasso need not worry about those of us who speak Spanish. Do many of the descendants of those Germans speak their ancestors' native tongue? Hardly! "Qian yi mo hua" in Pin Yin system of romanization in Chinese phonetic equivalent from Chinese characters i.e.changing imperceptibly in English.

"The proof of the pudding is in the eating; Spanish-speakers will become assimilated within a generation or two and enrich America just as every immigrant group before them has done. Actually, many of us have been fully assimilated for a long time." Milton Hernandez said.

As a matter of record,US Air Force Commanding Officer sent me a letter several decades ago encouraging me to speak Chinese to my descendants as a means for them to learn to speak the Chinese language.

In this regard,Mr. Galasso should start learning Italian as a human resource in America but Mr. Galasso will not become an Italian regardless of his preference of Pizza or Spaghetti i.e. "Xi yuan mian tiao" in Pin Yin. This is definitely a joke for readers to understand a bit of fun. Americans of Italian ancestry may or may not like Pizza or Spaghetti. Perhaps they love Chinese food with or without the influence of Marco Polo. Here is another line in the light vein if detected.

Francis Shieh a.k.a. Xie Shihao,trying to be a student of Mark Twain. I would like to encourage more Americans to be able to become language specialists for the needs of USA in the 21st century.
Saturday,January 10, 2009 at 3.32 p.m.

English physicist invented self-adjusting lenses

Washington Post, January 10, 2009 page A8:

Oxford, England- Joshua Silver, an atomic physicist, with the glasses he invented, which work on the principle that the more liquid pumped into a thin sac in the plastic lenses, the stronger the correction. Serendipity at best?

"It is about education, economics and quality of life," Silver said. The glasses, which are made in China, are not sleek. Generic? But the design can be improved. A pair costs about $19. He has distributed about 30,000 spectacles. The US Dept. of Defense bought 20,000 pairs to give away to the poor folks in Africa and Eastern Europe. His glasses correct nearsightedness and farsightedness but not astigmatism.

In his cozy home in Oxford, near the university where he has been for 26 years, the inventor talked about how Henry Ford wanted to make a car that every one could afford and how he hopes to make eyeglasses accessible to everyone. Great idea! A computer is made for everyone to learn economics in action globally. How nice!

Despite his age at 62, Silver has never needed reading glasses, which he said might be "God's way of telling me I am doing something good."

A talkative man with a remarkable memory, Silver said that as the global financial crisis changes the way people live, maybe there won't be such a focus on making money and having the brightest students head into the world of finance. "I feel people are saying, 'Hold on, there is some real work to do in life,'"

As an octogenarian, I have real work to do in life and the real work is to share the happenings apropos of Sino-American economics to readers. Moreover,I can teach the Chinese language to the bright students who wish to learn the form of art(calligraphy) and music(tones)with Pin Yin for phonetic equivalent. That is the real work or fun in life by virtue of my background as a graduate student from Shanghai,China to San Francisco,California,USA in 1947. That is 62 years ago.

The ultimate success in economics is the contribution to be made for human happiness. That maybe the true goal in life.

Francis Shieh a.k.a. Xie Shihao on Saturday,January 10, 2009 at 10.38 a.m.

Friday, January 9, 2009

Washington Times & USAToday,Jan.9, 2009

Washington Times,Jan.9, 09 on page A20: Economist Thomas Sowell wrote: "An economic stimulus policy created during a contraction in demand can take effect during an inflationary expansion of demamd - and fuel still more inflation. This view is similar to my prior blogs appropos of shifting Aggregate Demand curve trying to reach the optimum with Aggregate Supply curve in the Keynesian Model with doubts.

"The creation of trillion dollars by a government can set off another round of inflation" Such is the Quantity Theory of Money or Equation of Exchange as truism. But what about the credit card system? Such modest analysis may be found in the back issue of Atlantic Economic Journal decades ago.

USAToday: January 9-11, 2009:

President Obama's Goal: New Job as a tonic for the US Economy:-

"Equipping community college and public universities with modern classrooms and libraries." That is identical to my previous blogs appropos of positive externality re investment in public schools for education. Cf."The Future of Community Colleges" published by the Congressional Record, July 18, 1974.

Page 6A: China's net users take aims online: Debate over privacy and ethics. Confucianism promotes ethics and morality in China and Adam Smith is known as a professor of moral philosophy. The East and the West may be regarded as ONE for globalization of ethics and morality.

Francis Shieh a.k.a. Xie Shihao on Friday,January 9, 2009 at 3.36 p.m.

Thursday, January 8, 2009

Washington Times, January 8, 2009

Page A20: Global Trends 2025: Asian Giants Ascendant as the Heading

Report by the National Intelligence Council, a center of stratetgic thinking within the American government.

China and India are spearheading a massive and unprecedented - transfer of wealth from West to East. My comment: In the name of humanity, East and West are One in globalization. Wealth and Prosperity for all folks on earth.

By 2025, China will be the 2nd largest economy and India likely will be the 3rd largest economy in the world.

The rise of other nations in commensurate influence is inevitable. This may be good for USA to share the burden of policing the world under the Security Council of the United Nations.

Page B3:

Pentagon spokesman Bryan Whitman said: "US and China would set a framework for developing and planning the 2009 military to military contacts: Topics of mutual concern included security,terrorism, arms proliferation and piracy, Iran et al.

In line of the above,it would be desirable to have cooperation and collaboration in various fields for mutual benefit. That is my vision as an independent observer for Sino-American Economics of Peace and Development.

Francis Shieh a.k.a. Xie Shihao on January 8, 2009 at 3.35 p.m.

Washington Times, January 8, 2009

Washington Post,January 8, 2009 latest news for info

Page A2:

The budget deficit this year is projected to swell to $1.2 trillion, or 8.3% of US GDP. That total,however, does not include the effects of any future legislation.

President-Elect Obama once again declined to say how he plans to eliminate the growing budget gap, which is projected to narrow somewhat as the economy improves but explode again as the retiring baby boom generation sends the cost of the entitlement programs - Social Security, Medicaid and Medicare - skyrocketing. He will submit his first budget proposal to Congress in February 2009.

Page D8: Bank of America raised more money to cope with US economic turmoil by selling part of its stake in China Construction Bank(CCB),China's second biggest commercial lender, for $2.8 billion.

Bank of American sold 5.62 billion CCB shares, reducing its stake to 16.6% from 19.1%, according to a sale sheet viewed by the Associated Press.

Lenovo Group said it will lay off 2,500 workers, or about 11% of its work force, as part of a plan aimed at helping the computer maker remain competitive amid the competitive amid the global economic downturn.

The Beijing-based company, the world's 4th-largest PC maker, also warned it expects to report a loss for its fiscal 3rd quarter ended December 31st.

Lonovo expects to save about $300 million in the fiscal year ending March 31, 2010 as a result of its restructuring plan.

Francis Shieh a.k.a. Xie Shihao shares such news with readers online at www.Sino-American Economics.

Thursday, January 8, 2009.

Wednesday, January 7, 2009

Wall Street Journal,January 7, 2009 and WashTimes,1/7/09

Wall Street Journal,Jan.7, 2009 page B3A Premium Chocolate may be recession proof.
Page A1: Federal Reserve Outlook darkens on economy. FED research signaled that the recession could be longer and deeper than officials previously thought with unemployment rising into 2010 and inflation slowing substantially.

Page A13: My blog entitled "Paradox of Thrift" dated Jan.6, 2009 with my comments re C+I+G+F happened to coincide with the views of Professor Hal Varian who is a faculty member at University of California,Berkeley and is chief economist at Google.

If readers are interested in Sino-American Economics,visit www.Google.com and click on Sino-American Economics to read my blogs.

Page B2 GM's China sales slow sharply from global recession.

Page C14 Copper climbs 8.6% as I expected.

Washington Times,Jan.7,2009,page A1,A24:: China signals thaw on Taiwan. Peace hopes pass to President-Elect Obama for US-China policy awareness in the days to come.

The latest news above would serve as updates for Sino-American Economics.

Francis Shieh a.k.a. Xie Shihao on Wednesday,January 7, 2009 at 3.22 p.m.

Washington Post,January 7, 2009 on page A15

A new International Monetary Fund(IMF) paper emphasizes how a fiscal stimulus can backfire if financial markets become worried about unsustainable debt. The IMF recommends "measures that are reversible or that have clear sunset clauses" and "pre-committing" to identified future corrective measures," such as letting the Bush upper-income tax cuts expire. It would be a matter of faith and clout of the lawmakers as I would envision in the days to come.

The above recommendation sound good but the action remains to be seen. The next several weeks will be a test, for the new Congress as much as for the new administration. The nation cannot afford a 111th Congress as gridlocked as the 110th.

On page A1: President-Elect Obama faces the twin challenges of managing the deficit, the annual gap between tax revenues and spending, and the swelling national debt, the amount of money that the government has borrowed to finance years of deficits.

Francis Shieh a.k.a. Xie Shihao,an observer for economics in action in USA with repercussions in Sino-American economics.

January 7, 2009 at 9.58 a.m.

Tuesday, January 6, 2009

Paradox of Thrift is outdated under global financial crisis

Frugality is usually good with time-honored motto(geyan) from Ben Franklin:"A Penny saved is a Penny earned." However,in a global recession nowadays,leaders in US or in China do encourage individuals to spend instead of saving even though savings serve as a reservoir of financial capital that can be used to invest to raise the standard of living.( Published by Wall Street Journal on page A1,January 6, 2009.)

Time is changing. Increased saving would mean decreased spending which may exacerbate the economy's woes. Such general statement is for a point of reference.

Well,start buying and boosting GDP to help Uncle Sam or China. Enjoy now and pay later to live it up but do not overspend,just spend...Where is the line of demarcation? You are the authorized person to make your decision. I have been buying a lot of things to help US economy and China's economy when I visit China from January 24, 2009 to February 24, 2009 as an American citizen of Chinese ancestry.
Would the readers feel good as a person with economic clout? The only requirement is to have a decent job or getting retirement benefits without work. To blog is to have fun. However,permanent jobs are so few and retirement benefits are very much limited. But you may be your own boss provided your firm's goods and services are in demand such as health products and educational services et al. You have a marketable skill to supply the demand of any society. Nobody would impugn for such reasoning. Have a great day,everyday.

Francis Shieh a.k.a. Xie Shihao,a teacher since 1945 offering the above advice to the readers as public service.

Tuesday,January 6, 2009 at 1.18 p.m.

Monday, January 5, 2009

Investment in education is good economics

Dennis Van Roekel,President, National Education Association: -Washington Post, January 4, 2009 page B3: -

"These are frightening economic times. Stocks are down, unemployment rates are up, and home foreclosures are rising. Americans are rightly asking what the new President and Congress will do to help millions of jobless workers and stabilize the economy.

A recovery plan has been proposed to pump massive investments into the nation's infrastructure, especially our public schools, to restore our economic health."

I have sent my previous blogs to the same goal in the name of positive externality in graphic explanation. However,the empirical evidence remains to be seen in the days to come.

Clearly, Congress must take immediate action to stimulate our economy. In fact, education is the best investment we can make for long-term economic growth. A 2006 World Bank study found a dollar invested in education returns 14.3% annually in the form of increased tax-revenue and reduced government spending on social services. The following works are dedicated to the same purpose :

1. Keys for economic understanding. 1971.

2. "The Future of Community Colleges" published by the Congressional Record,July 18, 1974.

3. Keys to economic understanding. 1976.

4. Work and Study Cycle Theory. 1978.

Items 1,3 and 4 are listed at www.Amazon.com online book catalog for referenc.

USA and China share the same goal to train and to educate human resources in the 21st century in global economy.

Francis Shieh,Fulbright Senior Scholar, 1989-1990.

Monday, January 5, 2009 at 3.12 p.m.

Anglo-Protestant principles as cherished by the late Huntington

The late Prof. Samuel P. Huntington,the author of his famous "The Clash of Civilizations" cherished his principles of hard work, honesty, fair play, courage,loyalty and patriotism as Editor Fareed Zakaria pointed out in his article published by the Washington Post January 5, 2009 on page A11. I enjoyed reading such masterpiece. Sam Huntington was a political scientist for all seasons! I do concur.

It occurs to me that Confucianism embodies the above aphorism(zouyouming) , motto(geyan),or maxim(zhenyan) in the same vein as Christianity. Confucianism may be the forerunner of Christianity and there is the link,not clash of civilization of the East and the West apropos of Confucianism in terms of Christianity. Such work may be traced at the Library of Congress online catalog: " Political Philosophy of Mencius" www.loc.gov for reference. Moreover,the late Thomas Merton, a famous Christian, published an article in 1962 entitled "Christian culture needs Oriental Wisdom i.e. the wisdom of Confucianism. Food for thought as simile for readers.

On the same page A11 re Washington Post, January 5, 2009: -

Robert J. Samuelson wrote: "What the United States needs is export-led growth. Just as large US trade deficits signified American overspending, large trade surpluses in China, Japan and other Asian countries signified their oversaving. In China, consumption spending is 35% of GDP, notes economist Nicholas Lardy of the Peterson Institute. That is half the American level." In US,consumption sector occupies roughly 2/3 of GDP. American Model is or may not be the Model of all Models.(sic)

It should be clearly known that the lifestyle of the people with tradition and custom must be taken into consideration. It would be grossly incorrect to use the American way as the model for folks in other nations. Purchasing Power Parity leaves much room to be desired for making comparisons re standard of living of peoples in nations. I published an article to such effect in the Atlantic Economic Journal in 1970s with the view of the same rationale as published by Lawrence Summers' in the 1990s.

"The future of the US economy would require other societies reduce their oversaving and reliance on exports." Samuelson said. But in the Total Spending equation: C+I+G+F : F occupies only 20% of Aggregate Demand if such estimate is not too far off. Oversaving of undersaving may be disputed by the behavior of the folks in nations. China is boosting domestic demand with the reduced exports nowadays encountering global financial crisis.

Francis Shieh a.k.a. Xie Shihao, an independent astute observer or otherwise? The blogger is learning Sino-Amerian Economics from contemporary events.

Monday,January 5, 2009 at 10.36 a.m.

Females are better and stronger" Ants. Why?

Worker ants are tiny female but they are stronger than champion weight lifters in the human world. A worker ant can carry something that is up to 50 times its body weight. But they are never in the Olympics for sports competition. The readers would know the reasons. However,such case is certainly a lesson for human beings to adore with admiration galore! Any bearing with Sino-American economics to be reflected in global financial crisis? Thanks for your time in reading with deep thoughts. Hehehahahoho and we shall strive to be centenarians.

Francis Shieh a.k.a. Xie Shihao on Monday,January 5, 2009 at 7.22 a.m.

Sunday, January 4, 2009

Economics:That Sinking Feeling.Book World,Jan.4,09

Page 3 with Photo of Nobel Prize in Economics,Paul Krugman and Robert Samuelson,WashPost and Newsweek columnist. Reviewed by David Smick,Chairman of the financial advisory firm and author of "The World Is Curved: Hidden Dangers to the Global Economy.": Attempts to fix the US Economy have repeatedly backfired.

Krugman's book, an updated version of his 1999 volume "The Return of Depression Economics," contends(asserts to be exact) that the Federal Reserve is now mired in a liquidity trap in which interest rates are so low that cutting them has little impact. We also have an essentially unregulated banking system - the root of the credit crisis - that is unable or unwilling to lend. (The system has political and economic clout) While a depression is not likely, Krugman concludes,"depression economics - the kinds of problems that characterized much of the world economy in the 1930s but have not been seen since." - has returned. The value of virtually every asset in the world from corporate shares to real estate to oil reserves, has fallen. This is destroying demand, making it harder to get lenders to lend and spenders to spend. I added my notes with parentheses above.

My comment: It is a mindset but we do have human capital to be able to earn income with marketable skills to supply the demand of a changing society in the days to come. "Keys for Economic Understanding" listed at www.Amazon.com online book catalog may be considered as a useful reference.

The Krugman and Samuelson's books suggest that economics should be viewed less as a science than as a social art. I agree and such an art to serve the needs of any society. Economics is Socio-Economics to be relevant to the global economy.

"The recovery of global economy will depend on psychology i.e. restoring confidence and optimism." I have reiterated my belief with faith,hope and charity with upbeat+ verve. The conclusion of the reviewer: "The age of hubris is ,or should be,over." My rationale: We do need to be humble and modest in our lifestyle to gain happiness as ultimate goal in economics apropos of my past blogs re Sino-American Economics.

Francis Shieh a.k.a. Xie Shihao on Sunday,January 4, 2009 at 10.42 a.m.

Chinese Taiji Boxing or The YOGA: Hindu system of meditation for fitness

The choice is yours! Yoga practice connects exercise, breathing and contemplation. The same theme may be applied to Taiji boxing to produce a state of inner peace and creating a stronger, more relaxed and flexibvle body. Such life-balancing tradition in the East has impact in the West. The East and the West are One human race with human physical body and soul. One World,One Dream and One Human Race.

Francis Shieh a.k.a. Xie Shihao has random thought about health as human capital in economics.

January 4, 2009 on Sunday at 7.12 a.m.

Saturday, January 3, 2009

Medicare and Medicard spending will double from 2009 to 2019

USAToday,Jan.2-4, 2009 on page 6A Spending on Medicare and Medicaid will be around $1.4 trillion. But there is no clear evidence that spending more improves health. Why? Greed and Waste? The reader may be the Judge!

William Tarnasky, a retired MD has found that the cost and quality of care rests with the providers. Specifically, physicians drive up costs by ordering unnessary tests and medications. Medicare's failure shows that throwing more money at government programs leads only to expensive inefficiency. There will never be a solution unless physicians take the leadership by being better stewards of the medical dollars.

Francis Shieh a.k.a. Xie Shihao on Saturday,January 3, 2009 at 2.30 p.m.

Sequel to Good Health being living on good earth

1. Eat less meat but more fish for M3. Varied kinds of fish in USA and in China.

2. Strive to be a locavore i.e. buy local fruits and veggies for less cost.

3. Consume fewer processed foods to avoid chemicals and to have food from nature.

4. Eating green is shopping green to promote ecological wellness for the environment.

5. Going to shop at Farmers Markets that can be found everywhere.

Pay frugally: Cooking with the healthy stuff for economy be they fresh or artisanal.

Francis Shieh a.k.a. Xie Shihao enjoys shopping in the farmers markets in USA and in China as well.

January 3,2009 at 10.36 a.m.

www.BottomLineSecrets.com: sharing info for readers

Such lines make you healthier,wealthier,wiser...Happier et al...resulting from good health,the most important element in our living!

Spice cures:-

Cinnamon lowers cholesterol: It has medicinal power.

Turmeric boosts the brain: Disease protection and antiaging.

Rosemary prevents cancer and more: This is savory herb with phytochemicals.

Citantro: High in the vitamins A and K.

Ginger: Anti-inflammatory superstar as known to Chinese. It is good for motion sickness or nausea or vomiting. Dried powered or fresh ginger to combat viral infections.

Parsley: Vitamin K and Vitamin A. It is particularly useful for combatting cancer,allergies and heart disease.


Francis Shieh a.k.a. Xie Shihao,an incipient learner of ingredient of health,a field in human capital of economics.

January 3, 2009 at 7.28 a.m.

Friday, January 2, 2009

Nowhere to hide:WashPost,1/2/09 page E1

Count blessings as we are alive in this world.(added comment to the title above)

No matter where you bought stocks in 2008 -from San Paulo(visited in 1997) to Tokyo(visited in 1984) -you couldn't escape feeling that you were trapped in what one analyst called a contest of losers. The ripples fanned out from the United States: the housing market tanked, banks collapsed, credit markets froze - and recessions set in around the globe. Global stocks combined fell 48% for the year. "Everyone got treated with equal disregard," said Michael Woolfolk,senior currency strategist at Bank of New York Mellon. The stock market gyrations were so chaotic in Russia - down 72% - that trading was halted several times.

Of Bailouts and Rebates, Bankruptcy and Job Lines: The numbers are huge and the pain is great. Here are a few telling figures from a tough year.

$61,871 Maximum amount the bailout could cost each taxpaper,based on 139 million tax returns filed last year.

$600 Maximum rebate check paid to individuals as part of economic stimulus program.

11.7 million Households that owe more on their mortgages than their homes are worth, according to Zillow.com
2.7 million of unemployed since December 2007,according to Department of Labor.

Source: Bloomberg.

Data from China are not available for comparisons but such figures would be less for sure due to lifestyles.

Francis Shieh a.k.a. Xie Shihao,a reader of Washington Post to share such figures with readers of Sino-American Economics. January 2, 2009 at 2.45 p.m.

A super-recommendation to the Obama administration apropos of Sino-American Economics

Mark Gerzon, a distinguished fellow at the East West Institute, is the writer of the penetrating article entitled "Just send the next bailout check to me", published by the Washington Post,January 2, 2009 on page A15: Such urgent call is warranted for readers to ponder and reflect the past events and the future course of action)

"After much deliberation with our accountants and financial advisers,we have concluded that,in order to prevent a deeper recession and turn around the US economy, the federal government needs to give the next bailout package directly to us. (Such great idea is not only ideal but would also make good sense to all thinking Americans for fairness and justice.)

We deserve these funds for the same reasons that the big Wall Street firms and the giant automakers do.(on the basis of equal opportunity as guaranteed by American Spirit of Economic Democracy)

1. Like the previous recipients of bailout funds, we have made a living in the marketplace(private sector) and never received federal money.(public sector) Now the economy is in crisis,we therefore deserve to be first in line.
2. Money for our family will have a positive ripple effect throughout the economy. If(or when) we received a generous bailout package, we would certainly purchase a new and more fuel-efficient car. We would also commit to spending the entire amount on other much-needed consumer and service items that will sustain many other businesses.(via the concept of multiplier) For example, we would act on our plans to remodel our backyard patio. Dollar for dollar,the ecoomic stimulus provided to our family would have far - reaching effects.
3. Offering our family a generous financial package would restore confidence in the economy. We have lived in our community for many years and have a large and influential circle of friends and professional colleagues. We asked many of these upstanding folks how they would respond if our family declared bankruptcy. Without exception, our friends and businesses associates stated that they would be very upset. Conversely, if we received a bailout, they affirmed that their faith in the economy would be strengthened, and that they, too,would seek bailout money to maintain their current levels of spending.(American lifestyle)

4. Supporting our family would please a significant number of Democrats and Republicans. (Non-partisan fairness) We have friends in both parties and have contributed to candidates on both sides of the aisle. So an early and generous response to our financial hardship would trigger bipartisan support. (You Bet)

In closing,I want to stress that our family would expect to be held accountable for every dollar. Once we receive a US Treasury check,we promise to spend it quickly and efficiently in 2009 and will acount for those expenditures on our 2010 tax forms. (Expo 2010 in Shanghai,China would take place for China to purchase large amount of US government securities to reduce US interest rates for Americans to be able to upturn US economy within a reasonable time period.)

If the economy does not respond,it does not mean that the recommendation and decision to bail out our family was wrong. It would simply mean that the amount was too small.(The US economy would need more stimulus to reach the optimum target)

We patriotically pledge not to request additional financial support until 2010.(just in time to purchase tickets and hotel expenses with our own funds to visit Shanghai,China to witness Expo for global display of products from our American competitive edge.)

The words in parenthesis are the notes from the blogger.

Francis Shieh a.k.a. Xie Shihao,the octogenarian blogger(a taxpayer in good standing) who would support the insightful recommendation by the Distinguished Fellow at the East West Institute to bridge the gap of China and the USA for bilateral economic stabilization with impact on the global economy.

Friday,January 2, 2009 at 10.45 a.m.

Farmers and Railway to be in the spotlight

Bruce Goldstein sent his letter to the editor,Washington Post,Jan.1,2009 on page A12:

"Extensive new regulations under the H-2A agricultural guest worker program take effect Jan.17. Employers will be permitted to bring in foreign workers on work visas for lower wages and fewer benefits,with less obligation to recruit American workers first and with less government oversight in a program already rife with abuse. Secretary of Labor's devotion to deregulation blinded her to 65 years of lessons under agricultural guest-worker programs and to a bipartisan,labor-managment agreement in Congress,known as "AgJOBS" that would address these issues with balance."

In China,farmers' welfare is being carried out under the guidelines as reported by Phoenix TV from Hong Kong.

China will raise its spending on railway construction by 80% in 2009 to 87.9 billion as part of a $586 billion stimulus plan to boost domestic demand. Such is transportation utility in economics. I have reason to believe that US leaders would have similar plans in 2009 for American economic development.

Francis Shieh a.k.a. Xie Shihao is delighted to witness economics in action apropos of USA and China in the days to come.

January 2, 2009 at 7.20 a.m.

Thursday, January 1, 2009

DDSS:acronym as 2009 Mantra to energize life to be worth living

D- Devotion
D- Dedication
S- Spirit
S- Smile

The theological belief that the world is run according to a good purpose but it is too complicated for human beings to be able to comprehend such mundane knowledge.

Philosophizing: Any worldly situation may be a blessing in disguise when we have the positive thoughts to be invigorated with inspiration.


Incantation from Psalm 119:34-35 to be fitting online in the Internet Age:

"Give me understanding, and I will keep your law and obey it with all my heart. Direct me in the path of your Commands, for there I find delight."


Francis Shieh a.k.a. Xie Shihao, a student of philosophy,theology and religion since 1940s to be relevant to Sino-American Economics during the financial crisis. January 1, 2009 at 11.08 a.m.

Belt-tightening to keep in shape with FS as acronym

F - Francis a.k.a. Frugal
S- Shanghainese or Saint

Saints would be frugal to live a life of simplicity,sincerity and serenity for 3S minus 2D for Dejection and Depression or Dissipation to get R for Rejoicing C for Compassion and A for Amity. To Wit:

3S-2D=RCA Such equation is easy to remember as my New Year's Resolution for past decades and the decades to come...

Would you approve my thoughts? Your feedback would be greatly appreciated.

Francis Shieh a.k.a. Xie Shihao,an octogenarian with my mindset as "xiaohuozi" with inner strength to tap. That is the healthy way of life to accumulate human capital in economics.

January 1, 2009 at 7.40 a.m.