>>"Many western critics of the Japanese system have long argued that the country only needed to become more Anglo-Saxon to escape the malaise," argues Ken Okamura, strategist at Dresdner Kleinwort Benson in Tokyo. "It may sound arrogant, but that doesn't make it any less true."<<
Joe the above is from your link to the Financial Times. Yes, I had read it last week, before I read the Business Week story. And I agreed with Ken Okamura at that time. But now, IF the Business Week article is accurate, at least I can see why the Japanese government is reluctant to take Western stimulus measures. If Ronald Regan was facing a Federal debt, that was 250% of GDP, I bet he wouldn't have been so quick to chop taxes and increase spending. I don't know what to think anymore? It's not looking real good. I'm anxiously awaiting Japan's capital flow data for May. It's getting interesting. Is the Yen going to get even weaker?
By the way, today's WSJ had an article with a detailed time line of when the latest Liberal Democratic Party's stimulus package kicks in. It's still a few months away. Maybe this will help to pull them out of their recession. It's another, wait and see, item of interest.
MikeM(From Florida) |
