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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Seeker of Truth who wrote (106098)6/4/2001 3:27:23 PM
From: pater tenebrarum   of 436258
 
i'm not disagreeing that there is a festering crisis...merely pointing out that for ordinary Japanese, the deflation has brought about some surprising benefits. the crisis is mainly one of the financial system - the manufacturing sector has by and large already adapted, and slashed its formerly huge debt load. admittedly though the financial system crisis is far from resolved, and the shake-out will likely be very painful, and not only for Japan. when things come to a head (which they likely will soon) the consequences will be felt around the world.

here is an interesting paper on the situation:

iie.com
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