Ben Bernanke ‘s Card was shown! What Next? Think of 1998 Hong Kong.
The future Harvard MBA best case study of Communist China took down speculators! What next? Lesson we learnt (Ask Donald Tsang, he may come to NY soon!): No major regulation changed (So Lehman Brothers debacle or may be SWINDLE happened in HK again in 2008), No transformation, innovation and improvement of the industry after intervention!
Ben Bernanke ‘s Card was shown! What Next? Think of 1998 Hong Kong. Using the printing money method to buy about $300 billion of Treasury bond! Bravos! Desperate time needs most courageous will and bet! The whole future of America! What next? My educated guesses, this may be the last card of Prof. Ben Bernanke, just like a Japanese war time Shogun: Fire, Wind, Mountain, Forest, all military forms were used! Prof. Bernanke has done his entire right job now! The next is Tim Geithner , President Obama and Congress’ job! Let me tell you a story of 1998 Hong Kong economic storm! At the time George Soros team up with other greedy and ruthless speculators just took down the Thailand, Indonesian market. The next target was Korea and Hong Kong! The then Hong Kong Finance Secretary Donald Tsang was so scared, that was the first time he had to gamble the future of Hong Kong and fended off the feeble Philosopher turned to most canning Speculator, Soros! The HK most know- nothing Academics and Economists just whining and crying: Governmental intervention will bring death to HK! (all cheap talk no research!). Most know-nothing too of major media including the most popular but shallow Apple Daily and least popular and shallow too Ming Pao Daily News, as well as the Hong Kong Economic Journal, just fanning fire of Death and Hell if Hong Kong Intervened the market! You see a lot of similarities in this US recession- Know-nothing just shouting media and Academics, shaking Government officers, shallow and sallow politician howling "No" to intervention of market. There was a lot of noise in Hong Kong then, until the most huge voice by then Chinese Prime minister, Zhu rongji set the following possible tone: "I Muddy-Grass eating- horse! (Use your Putonghua imagination please!) It is just a gambling market, not a free market. LET US TAKE DOWN SOROS! Money! we have!" After got the nod of Primer Zhu, Sir Donald Tsang put a huge of reserved money to buy stocks in the market and tamed down the currency market. HK survived! (The future Harvard MBA best case study of Communist China took down speculators!) What next? The next, I hope would be a lesson to US! The succeed of the intervening of the gambling market in 1998 bought Hong Kong a lot of time. However the Government did not use the precious time to innovate the industry and still depended too much on housing! The latest news, Hong Kong may become an inner city of Mainland China; its survival a certain degree may depend on the "milk of its motherland!" Lesson we learnt (Ask Donald Tsang, he may come to NY soon!): No major regulation changed (So Lehman Brothers debacle or may be SWINDLE happened in HK again in 2008), No transformation, innovation and improvement of the industry after intervention! Prof. Ben Bernanke has done his job! What next in US? Market sustaining needs - Industry revolution and improvement! Sorry, not my specialty!
Malcolm Gladwell teaches "Get over yourself and get to work" for Big Think Edge.
- Learn to recognize failure and know the big difference between panicking and choking.
- At Big Think Edge, Malcolm Gladwell teaches how to check your inner critic and get clear on what failure is.
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You can say 'no' to things, and you should. Do it like this.
- Give yourself permission to say "no" to things. Saying yes to everything is a fast way to burn out.
- Learn to say no in a way that keeps the door of opportunity open: No should never be a one-word answer. Say "No, but I could do this instead," or, "No, but let me connect you to someone who can help."
- If you really want to say yes but can't manage another commitment, try qualifiers like "yes, if," or "yes, after."
Three scientists publish a paper proving that Mercury, not Venus, is the closest planet to Earth.
- Earth is the third planet from the Sun, so our closest neighbor must be planet two or four, right?
- Wrong! Neither Venus nor Mars is the right answer.
- Three scientists ran the numbers. In this YouTube video, one of them explains why our nearest neighbor is... Mercury!
Neuroscience research suggests it might be time to rethink our ideas about when exactly a child becomes an adult.
- Research suggests that most human brains take about 25 years to develop, though these rates can vary among men and women, and among individuals.
- Although the human brain matures in size during adolescence, important developments within the prefrontal cortex and other regions still take pace well into one's 20s.
- The findings raise complex ethical questions about the way our criminal justice systems punishes criminals in their late teens and early 20s.
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