Page A1,A16:
The president and the FED chairman voiced cautious optimism that the economy could be beginning to stabilize. But the economy was not cooperating. Such happening maybe a matter of transient situation or political necessity of official optimism? Readers can give views as freedom of thoughts!
The administration's actions are starting to generate signs of economic progress, the president said at Georgetown University,noting that some lending markets are recovering along with other sunny signs. President Obama garnered particular applause when he was critical of business practices on Wall Street.On page A12: The president challenged Congress to come up with an entirely new regulatory structure by the end of the year. Such is political economy in action for the wellbeing of the people of USA as I would envision with the same rationale. It is the economic principle of distribution of income and wealth in America.
The job market is likely to remain poor for many months. FED Chairman presses financial literacy for minorities. "Keys for Economic Understanding" is dedicated to minorities to get training to have a marketable skill to supply the demands of a changing America. The role of community colleges is significant from the approach of grassroots. "The Future of Community Colleges" was published by the Congressional Record,July 18, 1974 with such vision.
On page A7: President Obama plans to go to Latin America this week and will meet Venezuela's Hugo Chavez who is a strident socialist attacking US policies as savage neoliberalism. Chavez's national oil wealth has shrunk significantly with the global decline in demand, and he has had to cut back social programs at the heart of his revolution. During a visit to China last week following a stop in Iran, Chavez said "no one can be ignorant that the center of gravity of the world has moved to China." He went on to declare that the power of US empire has collapsed. Such wild hyperbole maybe rebutted by readers of Sino-American Economics. Needless to say,everyone can make his/her own judgment.
Page A17: Energy Secretary Steven Chu backs clean coal. Chu noted that the US has the most known coal reserves in the world and that more than half of domestic electricity is generated by coal. Even if the US turns its back on coal,China and India will not, and so,given the state of affairs,Chu would prefer to say let's try to develope technologies that can get a large fraction of the carbon dioxide out of coal.
Francis Shieh aka Xie Shihao,a student of contemporary economics i.e."Lingonomics"to watch the current developments as empirical evidence for understanding. April 15, 2009 at 10.06 a.m.
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