2005.4.15=5[#105]:4703.3.7[#60+6/60]: Tax Return postponed.[[ Winter Sonata ]] 1)US OK Finance/Not Media. 2)Russia. 3)China. 4)Dinosaur Egg.

Fair cool mild: 6:30 up when Mei has left, tel Dish Network running between tv2&1 fixing remote2 finally then set up automatic payment. Jyun asks me then Lung to go and Mei back then go, all in one car around 8:30am. House refinancing R. of Bk of Am's Sandra of Fidelity Title Co. tel, then R. tel for long. What should I do if I tel Richard's refi.? (I just emailed to him.) Email & blog here first, now 11:53am for Dinossaur egg topic. Mom tel from Jung's place then Jung, as I asked her early this morning just discovered it, they have seen Dr. Chu and to see him on 6.30=4 after X-ray around middle June. Emails, ETTV finishing "The Story of A-tieh" then "The Winter Sonata" #6 [[ which has produced some tremendous markets in Japan, about love, beauty, life&death, identity and nature of souls, over quite a touching story of a youth nearly dead then revived yet being brain-washed out of his past memories by his mom's request, considered by all to be a different person, yet meeting a girl still deeply in love after 10 years feeling the same unique sinking down to a bottomless pit again. ]] I have to take bath meantime to get to sis' place to go out for dinner. So concluding now at 6:20pm. :26 now, just gave B.(new tenant) AHS ins. co. contract# & tel#, that is only bath hot water is no water. Drive quickly to Little Taipei, join mom, Xiang/Jung dinner, drive mom to Xiang's place getting mom's glocery to Ju's place for key to open o.h., bed 12:30. 1) USA's Financial Danger Myth, & Managed Media: (1) "The Overstretch Myth", David H. Levey and Stuart S. Brown; From Foreign Affairs, March/April 2005: ""Summary: The United States' current account deficit and foreign debt are not dire threats to its global position, as would-be Cassandras warn. U.S. power is firmly grounded on economic superiority and financial stability that will not end soon. David H. Levey recently retired after 19 years as Managing Director of Moody's Sovereign Ratings Service. Stuart S. Brown is Professor of Economics and International Relations in the Moynihan Institute of Global Affairs at Syracuse University's Maxwell School of Citizenship and Public Affairs."": http://tinyurl.com/6jmkx "" Despite the persistence and pervasiveness of this doomsday prophecy, U.S. hegemony is in reality solidly grounded: it rests on an economy that is continually extending its lead in the innovation and application of new technology, ensuring its continued appeal for foreign central banks and private investors. The dollar's role as the global monetary standard is not threatened, and the risk to U.S. financial stability posed by large foreign liabilities has been exaggerated. To be sure, the economy will at some point have to adjust to a decline in the dollar and a rise in interest rates. But these trends will at worst slow the growth of U.S. consumers' standard of living, not undermine the United States' role as global pacesetter. If anything, the world's appetite for U.S. assets bolsters U.S. predominance rather than undermines it. "" [G]'s R's answer: "" The USA's "continued appeal for foreign central banks and private investors" rested largely on stability and being the only really stable currency around - based mainly on size. To say that "the risk to U.S. financial stability posed by large foreign liabilities has been exaggerated." surely misses the point, which is that there's now competition for the role of "large-based, stable currency" from the Euro. Income from gasoline sales invested in European banks two years back is now worth 20% more than if it had been invested in American rivals. Suggesting that this doesn't "represent a threat" looks like a straw-man argument. The writer cherry-picks the suggested dangers, ignores those he can't gainsay, and can therefore claim that "there's no realistic threat". The question that arises from this methodology is "who's he trying to fool?" Times change. And the nature of the US economy has assuredly changed along with them. "Real" income (i.e. "adjusted for inflation", not just "money income") has fallen for the bulk of the US population, but risen dramatically for a tiny proportion. Financial accountants can do some amazing things with figures - make black look like white. (If you don't agree, get hold of a set of Enron accounts, which purport to show that a bankrupt company was making fortunes!) David, a while back, advised us that "currently, more Americans own their own homes than at any time...." It's a similar example. If your home is "worth" $200,000, and you borrowed $200,000 to buy it, and the current rate of interest is lower than the rate of inflation (which it is!) you'd have to be crazy NOT to buy rather than rent. The asset is gaining in value faster than interest is accruing: you can periodically/continually reschedule the debt (i.e. borrow more) so that the lender continues to own 100% of the asset, and use the additional borrowing not only to pay off the interest, but quite possibly to buy consumer goods as well. It's a fool's paradise: a tiny bubble that will persist for a short period. If interest rates rise (which they must, if the dollar is to avoid the continual slide) then house prices will fall. Leaving you with an asset worth $150,000... being used as collateral on a loan that's reached $250,000. This is a situation known as "being bankrupt". "these trends will at worst slow the growth of U.S. consumers' standard of living" just doesn't fit reality. It's using the ambiguity of weasel-words to make disaster look like a mild setback of trivial proportions. It's like portraying driving your automobile into a wall at 100mph as "a slowing of speed". Yes... your speed WOULD slow - but that would be the least of your worries. The USA likes to portray Europeans as "pussies" for the socio-economic equivalent of carrying umbrellas on a day when the sun is shining. The thing about umbrellas is... when the sun stops shining, they keep you from getting too wet. In the real world, the sun doesn't shine all the time. US economic policy seems based on the concept that - despite approaching storm clouds - it isn't going to rain on THEM. And therein lies another part of the problem. How much international confidence can their be in an economic system that's so determinedly wedded to fantasy? One of the attractions of the US $ was the inherent honesty of the system. The system's flat refusal to deal realistically with the likes of Enron ("just a few rotten apples, the system itself is just fine, but we'll appoint a new overseer with a proven track record (as a crook)...") demonstrates that those days lie in the past. "" (2) "America - Andrew Stephen reveals how Bush nobbled the press", Andrew Stephen - America; New Statesman, Monday 18th April 2005 ""The new style of government here involves paying journalists and broadcasters to mention Bush policies favourably and paying PR companies to plant fake "news reports". By Andrew Stephen"" http://www.newstatesman.com/200504180023 2)Russia & Russian "Primakov's Triangle": (1) ""Pro-western "velvet revolution" in Russia proper? Protesters in Bashkortostan's capital of Ufa and in Moscow! Putin’s strategy may surprise all!"", Kirit Parikh; India Daily, Apr. 10, 2005: http://www.indiadaily.com/editorial/2263.asp "" Russia’s strategy to handle these situations is probably the best the world has ever seen! While posing some internal grudge, Russia is allowing these ethnic identities to go independent to some extent. Soon these so called velvet revolutionists may find the West is just unable to feed them forever. At that moment Russia will have the upper hand and flex its muscle considerably. The world has changed. A superpower cannot have satellites these days just by words, threats, false promises and past glories. That is why the Soviet Union disintegrated. For the same reason though in the coming days, all these so called Velvet Revolution countries and some older break ways like Eastern European countries may eventually look towards Moscow for help and compassion. Energy dominance is what matters these days. Oil and Natural gas is the main weapon Putin has. Through energy he not only controls his part of the world but he also have influence on countries like China, India and Brazil. "" "" Russian strategy is to let the West feed the needy in the regions till they get tired and give up. In the mean time Russia forges ahead with excellent relations with Japan, Germany, China, India, Brazil and America – the countries that really matters in the economic superpower game! "" (2) "USA determined to restrain Russia's growing power at all costs", Pravda, 04/08/2005 13:18 ""Russia poses a great problem for the USA on the assumption of its size"": http://english.pravda.ru/main/18/88/354/15256_USSR.html "" The recent meeting between Russian and Belarussian presidents in the Russian resort city of Sochi, brought up the subject of the territory, which used to be taken by the Soviet Union. "" (3) "India, China and Russia to create new alliance to challenge USA's supremacy", Pravda, 04/12/2005 12:55 ""Originally, Beijing and Delhi were not inspired with the perspective of the trilateral strategic partnership"": http://english.pravda.ru/world/20/91/366/15273_alliance.html "" The issue of the Russian foreign political priority has been gathering pace for the recent six or seven years. The then Russian Prime Minister Yevgeny Primakov, who currently chairs the Chamber of Industry and Commerce, became the person, who spurred the issue up again. Mr. Primakov set forth the idea to establish a special relationship between Russia, India and China. The idea was later referred to as "Primakov's Triangle" in Russian journalism. "" 3) China: "Increasing internal riots in China – the dragon is shaking from inside", Preetan Singhani; India Daily, Apr. 11, 2005: http://www.indiadaily.com/editorial/2275.asp "" China is experiencing increasing riots for social and geopolitical reasons. People are concerned about relentless growth, industrialization, and uneven distribution of wealth and extreme pollution from industrial factories. Tens of thousands of villagers in China’s Zhejiang province rioted against police and security forces April 10, leaving some 50 police officers hospitalized, "" 4) "Eggs found inside dinosaur fossil", BBC News, Last Updated: Friday, 15 April, 2005, 02:41 GMT 03:41 UK: http://news.bbc.co.uk/1/hi/sci/tech/4446769.stm "" A dinosaur that died just before it was about to lay two eggs has been found by an international team of scientists. The creature, which lived 65-98 million years ago, was discovered in China's Jiangxi Province. ""