-------- Original Message --------
| Subject: | Krooksman Wishes That America Could Match Japan's Performance |
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| Date: | Fri, 10 Sep 2010 07:30:52 -0700 |
| From: | Jas Jain |
Krooksman Wishes That America Could Match Japan's Performance
"In short, Japan's performance has been disappointing but not disastrous. And given the policy agenda of America's right, that's a performance we may wish we'd managed to match."
I must give Krooksman credit for telling the truth here. Of course, all propagandists must tell enough truths to gain credibility, or confidence of the audience. Krooksman is part of the gang that is pushing America towards Communism via Crooked Capitalism—pushing debt (solution to all the economic problems is more debt!) and all the fraud that results from it, that America has fully embraced.
When most American commentators say, "America is not Japan," they mean America is better than Japan. Of course, America is not Germany either. I have some bad news for Americans. A typical born-and-bred American is inferior to a born-and-bred German and a born-and-bred Japanese, especially when it comes to honest behavior and this is most visible at the top. When you see people like Bill Gates succeed via fraud (Scam Options and resultant accounting fraud during 1990s) what sort of message does that send down the line? The only advantage an American has over a German and a Japanese is the advantage that he, or she, inherited and in recent decades has been busy spending it fast. If you closely examine all of Krooksman's, and most others, prescriptions for the economy they want Americans to spend more money and want government's help in doing so. Ultimately every entity would be bailed out by the US govt and we would have de facto Communism with capitalist crooks being able to hold on to their loot. Under the rule of Financial Nazis, with bipartisan support, America has managed to create the worst combination of socialism and capitalism. Democracy has triumphed! There is little doubt that America would have a worse economy than Germany and Japan once the Greater Depression could no longer be pushed farther into the future via govt intervention.
Not in the business of pandering to "the American People," who have been systematically degraded by Financial Nazis,
Jas
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http://www.nytimes.com/2010/09/10/opinion/10krugman.html?_r=1&pagewanted=print
September 9, 2010
Things Could Be Worse
By PAUL KRUGMAN
TOKYO
"Japan's problems now are the same as they were in the 1990s, when you were writing about them. It's depressing." So declared one economist I spoke to here. "But the Japanese don't seem all that depressed," objected another. Both were right — and the conversation crystallized some thoughts I've been having about Japan's situation, and ours.
A decade ago, Japan was a byword for failed economic policies: years after its real estate bubble burst, it was still suffering from chronic deflation and slow growth. Then America had its own bubble, bust and crisis. And these days, Japan's record doesn't look that bad to an American eye.
Why not? For all its flaws, Japanese policy limited and contained the damage from a financial bust. And the question in America now is whether we'll do the same — or whether we will take a hard right turn into economic disaster.
In the 1990s, Japan conducted a dress rehearsal for the crisis that struck much of the world in 2008. Runaway banks fueled a bubble in land prices; when the bubble burst, these banks were severely weakened, as were the balance sheets of everyone who had borrowed in the belief that land prices would stay high. The result was protracted economic weakness.
And the policy response was too little, too late. The Bank of Japan cut interest rates and took other steps to pump up spending, but it was always behind the curve and persistent deflation took hold. The government propped up employment with public works programs, but its efforts were never focused enough to start a self-sustaining recovery. Banks were kept afloat, but were slow to face up to bad debts and resume lending. The result of inadequate policy was an economy that remains depressed to this day.
Yet the picture is grayish rather than pitch black. Japan's economy may be depressed, but it's not in a depression. The employment picture has been troubled, with a growing number of "freeters" living from temporary job to temporary job. But thanks to those government job-creation plans, the country isn't suffering mass unemployment. Debt has risen, but despite constant warnings of imminent crisis — and even downgrades from rating agencies back in 2002 — the government is still able to borrow, long term, at an interest rate of only 1.1 percent.
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