Blue, congrats on the cool post recognition. Two points of interest in recent dialogue: ( JMD, here go
more plugs for books I get commissions on)...in reference to the current generation of Japanese having
nothing to do with WWII, I think that could possibly be quite myopic, to wit, the point can be argued, rather has
BEEN made in a very interesting book called "The Cult of Tranquility". The point to be gotten if one is so inclined
is that it is not current Japanese are to not to be blamed ( I adhere to Jay's contention with respect to nations
that there is no good and bad, simply IS)...but rather it is a cultural phenomenon that puts the Nipponese in their
current situation by their own way of dealing with the world, endemic to their way of looking at themselves and the world of finance as well as the rest of it, ie, just IS.
In reference to US being consumer of first resort, William Greider argues in his book, "One World Ready or Not," in a very compelling way that
world economic woes will spring rather from the notion and indeed the model, the paradigm, to borrow
an overused word, that the US is the consumer of LAST resort, and when we have borrowed ourselves and our businesses to that point we can simply borrow no more, then we have a depression. A bothersome book
which I have read a couple of times, both while watching my Qualcomm stock go from 31 to 194, but then I sold
way too early...hindsight.
(See, Mike, you could profit from these book deals too) Apologies to the thread for the private joke
between old friends form another thread.
jim black |
