Responsibility

Jim Rogers on the Next 10 Years

Very lively comments on many grounds. Jim R's opinions have some truth but so are others. Mostly, Jim R expressed his appreciations for the recent fast growth in China.

Just want to add that US's urgent matters are:
1. the financial sector problems
2. the war on terrorists or extremists
3. the energy shortage and
4. the trade deficit

These are the main problems that are putting US's overall economy at risk and China is not the culprit, with exception possibly for the trade deficit item that at most be 50-50 accountable between US and China.

China is a partner with US in working out these matters, regardless of China becoming a super power or not. Learning Chinese is just one little item among many items, like learning Spanish is for having more fun and convenience to enjoy our south side neighbor.

The U.S. Dollar and Oil: Is an Endgame Near?

There are so many angry words directed at various things. Could it be that there are many things that need to change?

The facts seem to be reflected in words such as these: " - - -placed ourselves in jeopardy through years of fiscal delusion and self indulgence as policy. The worth and credibility of the US dollar reflects us and our national standards. We are the problem, not our choice of energy."

We over-consume, we indulge in blaming everyone but ourselves, we take advantage of others, we choice to take short term profits for personal gain over the well being of the public, we - - - -

Take for examples:
1. When we can afford, do we engage in excess consumption with no regard to environment, social effects, - - - needs of other who are less fortunate?
2. When we cannot afford, do we restraint from over-borrowing with no regard to responsibility to pay back?
3. When there are various means to solve this energy problem, do we help each other to use these means (gas, coal, nuclear, wind, solar, bio-fuel, - - - ) instead of opposing each other into inactions or costly competitions?

Let's take the first step by ourselves: reduce our energy consumption to a minimum (Believe it. Minimum is the right goal and remember it next time when you fail to car-pool or not take public transportation or turn up the heating or turn down AC or drive tens of miles for eating out or take air flights for distant vacation travels or throw out food or fail to encourage others to reduce their energy consumption or - - - ). Americans remain the top energy consumer on average, by a big margin.

Let's take the second step by educating ourselves and our children in means of energy saving/producing science and technologies, and by working in these industries.

Let's take the third step by not engaging or at least reducing in irresponsible actions: speculative investments in energy wasteful industries, participation in purposeless recreations (e.g. TV, movies, recreation parks, - - sorry that much of these have become meaningless), - - - - .

I sense certain awakening: this article's initial goal is apparently to promote speculative investments in natural gas for personal gains. The readers' responses turn into a debate on fixing the energy problem more than on investments for personal profit.

Sure It’s Legal … But Is It Right?

"Sure it's legal - - - But is it right?"
"Sure it's capitalistic to get huge salaries - - - But is it right?"
"Sure it's a nice to live freely - - - But is it right to do whatever one wants?"
"Sure it's American to be proud of America - - - But is it right to demonize others?"
"Sure it's good to consume for the econoomy - - - But is it right to consumer more and more?

The capitalistic system has run into problems, most apparently due to some faults in the reward system. Based on many facts, let's put "right" regulations on compensations, such as including community, national, and global interests into the salary compensation determinations, including a cap or very high tax rates on very high salaries, versus lower rates for private business incomes, personal savings and personal investment incomes.

Distinction Between Positive and Normative Economics Misses the Point

Dear Professor,

As several previous commenters have indicated, there are more concerns on the facts and true values of any economic initiative such as the cap-and-trade than on the details of how to carry it out.

I would interprete them as suggestions for emphasis on the "Positive" and "Normative" in forming an economic initiative, while I think the "engineering" or "design" should be determined as parts of details with same "Positive" and "Normative" considerations.

Book Review: Making Sense of the Dollar, by Marc Chandler

As several previous commenters have pointed out, the point is not just to understand accounting (we already have too many accounting explanations, I believe), the point is on how to move an economy forward.

The points are on how to "offer attractive opportunities for foreigners to invest in their country" and on how to compete in continuing development, not to blame Nucor, but to have more of those "carpenters" who know what to do with new tools, as pointed out by another commenter.

On the last point of alleging to "China will suffer for over-promoting growth of exports" is just as misplaced as some one alleging to "US will suffer for over-promoting of world trades". Problems come about not because of "exports" or "world trades", but because of deficiencies some where else, such as in competitiveness, and appropriate management and government controls. Competitiveness is required for success in exports.

Market's Continuing Theme: Sell the Dollar and Buy Stocks

"Sell the dollar and buy stocks" is one of several proposed reasons for the market uptrend.

But as a couple of commenters have already suggested that "sell the dollar" is apparently contradictary to "buy stocks". I tend to agree and want to point out that an improving economy is at least as equally the reason for an up market, given that there are continuing issues to tackle.

The Truth About Fossil Fuels and Renewable Energy

(wrong click before completing)

The people who have the aspirations to develop renewable and other alternative energy sources should be encouraged and supported, although we should also limit the "wastes" in such efforts.

Very good people have worked hard in such efforts and have made some progresses. Their results are still far from goals; but on the other hand, the statistics that show no significant % increases from their contributions should be viewed with the understanding the fact that people have increased usage AND WASTEFUL USAGE, of fossil fuels by too much during these years.

The Truth About Fossil Fuels and Renewable Energy

Regardless of many disgreements in the original article, reduction of wastes in energy usage is in agreement. The consideration of "wastes" is one of the main points. The average American uses much more energy (and other commodities) than the average world citizen. The rich uses much more than the less rich. But the side effects from wastes are suffered more by the less priviledged.

The people who have aspirations to bring in renewable energy sources

Why Are Natural Gas Producers Expanding Production So Aggressively?

Can anyone comment on the usefulness of NG as substitute for oil? What is the meaning of $3.8 or $4 price of NG?

Could There Actually Be Another Reason Why Oil Prices Are Falling?

There are regulations on utilities, communications, public transportation, - - and even medical care.

Responsible governments should put reasonable regulations on oil, the lack of regulation is because there had not been such needs.

Such needs have been well known by now and appropriate regulations should be expected, like many of the other items mentioned above.

Because of the high entry level for the oil industry, governments have spent lots of resources to safeguard the oil industries, similar to providing something like monopoly for the industry, as for utilities, communications, public transportation, - - - medical care.

These industries are so important that they have often become state owned in many of the supplier countries. Regulations are needed for the industry and for the financial markets related to oil.

Why Economic Dogma Threatens Our Future Prosperity

When we talk about over spending by the Government, should we consider ability/dogma to "tax" more and more as also part of the problem, regardless of whether the super-rich should be taxed more or not?

Should we also talk about the over spending by the general consumption driven society?

The tax code (fairness) is one thing but over spending, and particularly wasting, is another thing.

Who should be responsible for Americans, on average, consuming (e.g. housing, recreation, auto, medical) more of everything than many other people while investing (e.g. saving) less than many other people?

The dogma of goodness of generocity (spend more to boost economy and to boost self indulgence) and democracy (everyone should live in large house, drive big car, and afford high cost services) should be balanced by the facts of reality, those of productive (not just serving each other's indulgence) work, global competitiion (not just competing with each other inside), and long term strategic goals (not just short term financial results by any means).

Capitalism or socialism can work or fail, depending on how the details are being addressed.

Work to balance the budget is needed by individuals as well as the government.

One interesting thought: since there are so much blames on the super rich getting richer and on corporations making more profits, are these happening because many people are over consuming and over paying? Are we forgetting that consumers can at least choose to consume less and to shop for lowest prices or to do them by ourselves?

GE's Imagination at Work

Edison was at least the contributor of many of the early technologies. The more recent management (including the previous well known CEO) should be accountable for the "recent" events. With the Wall Street rules of the game to award primarily on profit, GE has been getting out from one after another leading technologies while failing to enter new areas during the last century.

GE was a leader in semiconductors, materials, computers, - - - at the beginning, but was unwilling to compete as new players came into the market.

Aside from profit, the rules should include measurements on employment generation, one new technologies/markets growth, and maintenance of shares of existing markets. Otherwise, the CEO can simply focus on short term profit for personal gain instead of on long term Company goals.

Is the Dollar Dead in the Long Run?

Trade deficit is the key problem that should be discussed and addressed. The U.S. dollar has become what it is because of favorable U.S. trades. When U.S. trading conditions become unfavorable, there will be consequences, including the U.S. dollar. Work on how to improve trade, instead of how to profit with every opportunity in the market.

The Coming Economic Collapse, Part 2

We can always find faults with what others have done. The fact is that Americans on average are spending more resources than other people on per capita basis. My children all are occupying larger homes than mine, spending more on cars, spending more on recreations, - - - - - . If individuals are like that, Corporations and Governments are the same, because they are run by those same people.

Joel Kotkin: How California Can Prosper Again

Interesting to read comments on how to solve problems and to improve employment, etc, instead of the all too common interests of investments in stocks, bonds, and commodities.

People need to put priority in fixing problems, not just in personal investment gains.