"Do not monetizing the debt" is the title of the article: Richard Fisher,Dallas Federal Bank President, has returned from China where he was asked repeatedly about monetizing of the legislature. Mr. Fisher says "inflation destroyed the presidency under Jimmy Carter." He defends the Fed's action that designed to stabilize the financial system as I would call "Lingonomics" to be seen as monetizing the debt of political economy. Cf. my past blogs to the same. The delicate relationship between the FED and Treasury is too complex to be known by outsiders.
Mr. Fisher claims to be a believer in the renowned economist Joseph Schumpeter. Harvard professor Richard T. Gill published his economics texts in 1973,1975 citing Professor Schumpeter was asked by his students at Harvard in 1940s apropos of the future of the economy in global context,he said: "Socialism" but added that his prediction is not necessarily his preference.(sic) His vision may be witnessed by the empirical evidence in the 21st century. I sent my blogs in the past re Socio-Economics i.e. Economics is designed to serve the society of any nation for the people of that particular country. Sino-American economics may be in the same ballpark nowadays. Let us watch the scenes to be revealed for our learning process.
Washington Times,May 26, 2009 page A2:
About $4 billion from $787 billion economic stimulus measure was budgeted to renovate public housing to train workers for these jobs. "Keys for Economic Understanding" was developed for the US Department of Labor. It was published in 1971 with a vision of the need of skilled workers for economic development via training in community colleges for para-professionals. Cf. www.ask.com for reference.
Francis Shieh aka Xie Shihao on Tuesday,May 26, 2009 at 2.36 p.m.
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