Stitch,
Hunkering down means saving every penny and trying to make ends meet as best as one can. However, if there is mass layoff with many left unemployed, then, yes, the populace will eventually have to revolt and demand changes. I don't know if that will happen. Right now, the Japanese are in the hunkering stage. I suppose that if they're pushed over the brink, then a revolution will be required.
I spoke to some Japanese friends in the States this past fall and I asked them if the stock market ills are affecting the lives of Japanese in Japan and if the economy was really as bad as espoused by American media. Their response was very enlightening to me. They basically felt that if they had jobs, then they can make ends meet and save money. The Japanese market is played by the banks, not by the people. The people's money is saved in the post office. They don't mind the 1-2-3% return. They're just not in the market. Joe-san-Sixpack in Japan isn't into the market like Joe-Sixpack here. So, I'm told.
At any rate, the banks are still controlled by an understanding between 'mafia' families and the government and no one makes a big stink for changes because their ideal is whatever is best for the masses. When what is happening in their economy no longer is what's best for the people, then I think there may be a significant change in their political and financial environment. I don't know that the upcoming events will reach that stage. Of course, I do not live there, so I probably have misread or misunderstood much that is happening.
BTW--enjoyed many of your observations.
mike
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