Washington Post,November 30, 2008 on page F2:
Tom Sowanick, chief investment oficer at Clearbrook Financial, an investment management firm in Princeton,New Jersey, the noise masks what he believes is a positive trend that has emerged over the past month or so. He finds the good news not so much in the US-but overseas. What is happening on exchanges in China, Brazil and Russia, he says has significant ramifications for investors here. In China, the CSI 300 indes is up about 17% from Nov.4, whidh Sowanick says could be its bottom.
Why is this important for the US market? In Sowanick's view, the gains on the emerging markets suggest that global investors are regaining an appetite for risk for emerging markets. Moreover,China's own giant stimulus package has helpted, along with the emergency rescues and transfusions from the US Treasury Department. --Steven E. Levingston.
Best luck to Mr. Sowanick for his positive scenario. However,I would maintain the judgment for the upcoming empirical evidence.
A new book to be highly recommended: "ENOUGH" By John C. Bogle. John Wiley & Sons. 2009 $24.95 ISBN: 978-0-470-39851-7
The subheading is: True measures of money,business, and life
The book provokes so much thought and gives new meaning to the words 'commitment,accountability, and stewardess.
"It is a must reading for investors disenchanted by today's culture of greed, accounting distortion and corporate malfeasance and oversight failure."-- Arthur Levitt,Former Chairman,United States Security and Exchange Commission.
On page 31: "We are merely trading pieces of papers, swapping stocks and bonds back and forth with one another and paying our financial croupiers a veritable fortune, adding more costs by creating more complex financial derivatives in which huge and unfathomable risks have been built into the financial system." Such may be the insights for global financial crises.
Francis Shieh a.k.a. Xie Shihao with the motto: "Live and Learn the increasing knowledge of Sino-American Economics to make life more worth living with complexity."
Sunday,November 30, 2008 at 2.08 p.m.
Sunday, November 30, 2008
New comments re Wall Street Journal,May 17-18, 08
I sent my blog dated May 18, 2008 re economic philosophy to be applied to folks in China and in the USA with varied custom/ tradition of culture:
I have been stressing the lifestyle of human behavior for decades and I have recommended the lowering of human desire in the denominator of a fraction for Happiness Equation. Happiness is not material consumption over desire only but add intellectual pursuit and spiritual satisfaction and good health et al as the factors for numerator. I lectured in Shanghai in 1981 to that effect. After the recent US financial crisis, I came across the word recently: frugality as the way of life in the media for Americans. Such change of mindset with the same rationale would be desirable in light of current state of the economy. I do remember the word: THINK when I was an accountant at IBM, San Jose,California in 1957-58. In this regard,I recall a Chinese aphorism: "San si er xing" i.e. 1.Think 2.Think it over 3. Think again before taking any action. In other words,any abuse of credit and thoughtless action has caused the crisis for homeowners and the banks apropos of financing mortgages. However,the "lai long qu mai" i.e. the coming and going of money and credit would be a compound-complex matter to be revealed hopefully during the course of time. True happening may be multi-dimensional in economics.
Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from Shanghai,China in 1947, is willing to learn the field of economics as a multi-faceted discipline. November 30, 2008 at 7.12 a.m.
I have been stressing the lifestyle of human behavior for decades and I have recommended the lowering of human desire in the denominator of a fraction for Happiness Equation. Happiness is not material consumption over desire only but add intellectual pursuit and spiritual satisfaction and good health et al as the factors for numerator. I lectured in Shanghai in 1981 to that effect. After the recent US financial crisis, I came across the word recently: frugality as the way of life in the media for Americans. Such change of mindset with the same rationale would be desirable in light of current state of the economy. I do remember the word: THINK when I was an accountant at IBM, San Jose,California in 1957-58. In this regard,I recall a Chinese aphorism: "San si er xing" i.e. 1.Think 2.Think it over 3. Think again before taking any action. In other words,any abuse of credit and thoughtless action has caused the crisis for homeowners and the banks apropos of financing mortgages. However,the "lai long qu mai" i.e. the coming and going of money and credit would be a compound-complex matter to be revealed hopefully during the course of time. True happening may be multi-dimensional in economics.
Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from Shanghai,China in 1947, is willing to learn the field of economics as a multi-faceted discipline. November 30, 2008 at 7.12 a.m.
Saturday, November 29, 2008
Book World,Nov.30, 2008 page 1 and 3
Cover Review: Economics - "Markets don't make bubbles,people do." as the subheading. I have been stressing human behavior in economics re the financial crisis nowadays.
Harvard Professor Niall Ferguson published "The Ascent of Money" Penguin Press 441 pp. $29.95. Just published in 2008.
"Money is essential to human progress, it is trust inscribed on paper or metal." My comment: On the paper currency: This note is legal tender for all debts,public and private. Such notation should be known to all holders of paper currency for the true meaning relating to public and private debts as incurred. On the other side:"IN GOD WE TRUST" with faith,hope and charity. For metals: there is intrinsic fluctuating value of precious metals.
"Milton Friedman, the apostle of monetarism, who saw the supply of money as the key to the economy" I am reminded of Irving Fisher's Quantity Theory of Money or Equation of Exchange.(MV=PQ) We are living in the credit-based economy with plastic cards as debts for our credit. Credit problems should have been understood in the first place. Professor Ferguson explains with George Soros's theory of reflexivity. My comment: Investor's fixated judgment in the markets as mindset. Moreover,he cited Joseph Schumpeter,a conservative economist predicting Socialism as the wave for the future in 1940s at Harvard. Needless to say,his students were baffled about such prediction but he defended his position by saying that his prediction is not necessariy his preference as I sent my prior blogs.
Ferguson said on MSNBC last week that the United States should follow up the G-20 Economic Summit with a "G-2" meeting with just the Chinese. His reason for such recommendation is clearly obvious in light of the economic status of China. The first Nobel Laureate Jon Tingergen's "Convergence Theory"(1969) is the forerunner for the grand scale bailout of the private sector by the public sector in 2008.
Fear, greed and folly as the maxim of the Wall Street and there is no guarantee of future returns as a stern warning.
Well,let us wait for the empirical evidence in the days,weeks,months,and years to come to witness the glorified Monopoly Game with grand finale in the showplaces in the world.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 trying to learn political economy i.e. the REAL ECONOMICS of human behavior apropos of such inexact economic science in the age of uncertainty.
Saturday, November 29, 2009 at 10.55 a.m.
Harvard Professor Niall Ferguson published "The Ascent of Money" Penguin Press 441 pp. $29.95. Just published in 2008.
"Money is essential to human progress, it is trust inscribed on paper or metal." My comment: On the paper currency: This note is legal tender for all debts,public and private. Such notation should be known to all holders of paper currency for the true meaning relating to public and private debts as incurred. On the other side:"IN GOD WE TRUST" with faith,hope and charity. For metals: there is intrinsic fluctuating value of precious metals.
"Milton Friedman, the apostle of monetarism, who saw the supply of money as the key to the economy" I am reminded of Irving Fisher's Quantity Theory of Money or Equation of Exchange.(MV=PQ) We are living in the credit-based economy with plastic cards as debts for our credit. Credit problems should have been understood in the first place. Professor Ferguson explains with George Soros's theory of reflexivity. My comment: Investor's fixated judgment in the markets as mindset. Moreover,he cited Joseph Schumpeter,a conservative economist predicting Socialism as the wave for the future in 1940s at Harvard. Needless to say,his students were baffled about such prediction but he defended his position by saying that his prediction is not necessariy his preference as I sent my prior blogs.
Ferguson said on MSNBC last week that the United States should follow up the G-20 Economic Summit with a "G-2" meeting with just the Chinese. His reason for such recommendation is clearly obvious in light of the economic status of China. The first Nobel Laureate Jon Tingergen's "Convergence Theory"(1969) is the forerunner for the grand scale bailout of the private sector by the public sector in 2008.
Fear, greed and folly as the maxim of the Wall Street and there is no guarantee of future returns as a stern warning.
Well,let us wait for the empirical evidence in the days,weeks,months,and years to come to witness the glorified Monopoly Game with grand finale in the showplaces in the world.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 trying to learn political economy i.e. the REAL ECONOMICS of human behavior apropos of such inexact economic science in the age of uncertainty.
Saturday, November 29, 2009 at 10.55 a.m.
November is Native American Heritage Month
The American Indian Chiefs:
Geronimo
Sitting Bull
Powhatan
Redcloud
Sequoyah
Chief Joseph
Cochise
Hiawatha
Tecumseh
Craze Horse
The above Asians were first Americans in history with good recollection.
Please remember the former Police Chief Dan Liu of Honolulu,Hawaii as an American of Chinese ancestry who was the leader from 1948-1969 but had worked for the Police Department over four decades with distinction. A Police Station was named after him in downtown Honolulu. Americans are proud of him for his expertise in law-enforcement and he was elected as the President of Internatinal Association of Police Chiefs. I have reason to believe that ethnic Chinese would respect him as well for his public service rendered to the folks in Honolulu,Hawaii,the Paradise of the Pacific.
Francis Shieh a.k.a. Xie Shihao,an honorary citizen of the City of Honolulu and the State of Hawaii on Saturday,November 29, 2008 at 7 a.m. with fond remembrance and cherished reminiscence. Thanksgiving is the time to give thanks to the departed but their names are never forgotten in our hearts and minds as good folks on earth.
Geronimo
Sitting Bull
Powhatan
Redcloud
Sequoyah
Chief Joseph
Cochise
Hiawatha
Tecumseh
Craze Horse
The above Asians were first Americans in history with good recollection.
Please remember the former Police Chief Dan Liu of Honolulu,Hawaii as an American of Chinese ancestry who was the leader from 1948-1969 but had worked for the Police Department over four decades with distinction. A Police Station was named after him in downtown Honolulu. Americans are proud of him for his expertise in law-enforcement and he was elected as the President of Internatinal Association of Police Chiefs. I have reason to believe that ethnic Chinese would respect him as well for his public service rendered to the folks in Honolulu,Hawaii,the Paradise of the Pacific.
Francis Shieh a.k.a. Xie Shihao,an honorary citizen of the City of Honolulu and the State of Hawaii on Saturday,November 29, 2008 at 7 a.m. with fond remembrance and cherished reminiscence. Thanksgiving is the time to give thanks to the departed but their names are never forgotten in our hearts and minds as good folks on earth.
Friday, November 28, 2008
From Market Economy to Pollitical Economy
Washington Post, Friday,November 28, 2008 page A29: "As economist Irwin Stelzer argues, we have gone from a market driven economy to a politically driven economy. On Nov.18,Secretary of Treasury Hank Paulson broadly implies that he is using only half the $700 billion bailout money. Having already spent most of his $350 billin, he is going to leave the rest to his successor.
Three political events: Citigroup bailout; the official rollout of economic team of President-elect Obama,Gaithner and Summers and Paulson would be ready to use the remaining $350 billion over the next two months. That undid the market swoon - and dramatically demonstrated how politically driven the economy has become. The ruling leaders would seize the commanding heights of the economy for the greater social good." Charles Krauthammer wrote such article.
My comment: When the leaders in USA and in China are working for the greater social good, I would like to endorse such noble cause to reach the public for socio-economics to be relevant. Perhaps we can detect the common interest of Sino-American Economics in the 21st century.
As we honor Abe Lincoln,we ought to remember:"With amity toward all;with enmity toward none." That is the American way and the confucian way as well.
Francis Shieh a.k.a. Xie Shihao,an admirer of Abe Lincoln,one of the great presidents of the United States. I wish President-elect Obama would be another good president to serve the best interest of America. Confucianism would guide the Chinese leaders to take action to the public i.e. common folks in China.
Friday, November 28, 2008 at 10.16 a.m.
Three political events: Citigroup bailout; the official rollout of economic team of President-elect Obama,Gaithner and Summers and Paulson would be ready to use the remaining $350 billion over the next two months. That undid the market swoon - and dramatically demonstrated how politically driven the economy has become. The ruling leaders would seize the commanding heights of the economy for the greater social good." Charles Krauthammer wrote such article.
My comment: When the leaders in USA and in China are working for the greater social good, I would like to endorse such noble cause to reach the public for socio-economics to be relevant. Perhaps we can detect the common interest of Sino-American Economics in the 21st century.
As we honor Abe Lincoln,we ought to remember:"With amity toward all;with enmity toward none." That is the American way and the confucian way as well.
Francis Shieh a.k.a. Xie Shihao,an admirer of Abe Lincoln,one of the great presidents of the United States. I wish President-elect Obama would be another good president to serve the best interest of America. Confucianism would guide the Chinese leaders to take action to the public i.e. common folks in China.
Friday, November 28, 2008 at 10.16 a.m.
Enjoy Holiday Season 2008 and the seasons to come
Abe Lincoln established Thanksgiving as a national holiday in 1863. To my best recollection,I still remember the day when I had to recite Gettsburg Address in 1942 at Gonzaga College in Shanghai. Bing Crosby's "I dream about a White Christmas" still singing in my ears. Bing made a large donation to Gonzaga University in the State of Washington decades ago. Governor O'Malley attended Gonzaga in Washington years ago. On this Thanksgiving, many in America have given up their jobs, their homes(foreclosure). We live in the age of uncertainty as Prof. Galbraith published his book decades ago. But we must have mindset of optimism with President-elect Obama who would change the course to break the racial barriers to treat all Americans as Americans with his Asian background to treat Asian Americans as Americans. ALOHA to the leader as a native of the State of Hawaii,the paradise of the Pacific. The other side is China. Here we can foresee the good future of Sino-American Economics in the 21st century with bright anticipation.
Francis Shieh a.k.a. Xie Shihao, an Asian American since 1954, an honorary citizeh of the City of Honolulu,Hawaii on November 28, 2008 at 6.56 a.m.
Francis Shieh a.k.a. Xie Shihao, an Asian American since 1954, an honorary citizeh of the City of Honolulu,Hawaii on November 28, 2008 at 6.56 a.m.
Thursday, November 27, 2008
Give thahks to the Almighty: His love endures forever
Happy Thanksgiving is the American tradition to celebrate the 4th Thursday in November with food to eat as the grateful expression to "Laotianye: in Pin Yin i.e. Divine Providence,the Creator of all folks on earth.We pray before our meals as well.
I happened to notice seemingly happy folks with carts filled to the brim to the extent of overflowing. Such delight with excitement are intoxicating at best. Family and friends are together for the utility of filling up the stomach with loving sentiments. However,frugality is the buzzword to remember nowadays. When we have water to drink with bread to eat,we can keep our body and soul together without any worry to reduce(sic). Keep our shapes and be happy with spirituality for genuine happiness as mindset to be our tribute to Thanksgiving. American Indians were cited for Thanksgiving and American Indians were Asians. The first Americans were Asians from American history. I believe I am not incorrect. However,if there is an error,I am just human,a human error may be forgiven by the readers. Thanks for reading my blog on Thanksgiving Day that I offer my blog with my thanks to YOU.
Francis Shieh,named after Francis Scott Key in American history but the British are our friends apropos of global financial crisis. Such international relations must include China as Sino-American Economics of Thanksgiving of funding to rescue global economic crisis. Xie Shihao i.e. thanks from a heroic poet with sentiments as my random thoughts in the light vein on Nov.27, 2008 at 7.22 a.m.
I happened to notice seemingly happy folks with carts filled to the brim to the extent of overflowing. Such delight with excitement are intoxicating at best. Family and friends are together for the utility of filling up the stomach with loving sentiments. However,frugality is the buzzword to remember nowadays. When we have water to drink with bread to eat,we can keep our body and soul together without any worry to reduce(sic). Keep our shapes and be happy with spirituality for genuine happiness as mindset to be our tribute to Thanksgiving. American Indians were cited for Thanksgiving and American Indians were Asians. The first Americans were Asians from American history. I believe I am not incorrect. However,if there is an error,I am just human,a human error may be forgiven by the readers. Thanks for reading my blog on Thanksgiving Day that I offer my blog with my thanks to YOU.
Francis Shieh,named after Francis Scott Key in American history but the British are our friends apropos of global financial crisis. Such international relations must include China as Sino-American Economics of Thanksgiving of funding to rescue global economic crisis. Xie Shihao i.e. thanks from a heroic poet with sentiments as my random thoughts in the light vein on Nov.27, 2008 at 7.22 a.m.
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