Jay:
You wrote: >>To try to upset AC Flyer, I will espouse a bit of commonplace philosophy or extraordinary banality concerning an ancient perquisite to survival, namely, ‘expect the unexpected’ and, to not further irritate AC Flyer, keep additional thoughts in (admittedly big) bullet form:<<
- and please remember to use words of three syllables or less.
>>(d) Printing money to avoid manufacturing deflation in the context of service and asset inflation amidst an overall atmosphere of high debt is a once in so many centuries experience<<
I believe that history will judge Greenspan a hero for averting a deflationary spiral by the deft use of monetary policy and ensuring adequate liquidity in the US banking system.
>>Do not forget, they (Japan) are also astonishingly quickly depopulating, thus disappearing for real.<<
This is an incredibly powerful insight. The Japanese have strongly discouraged immigration, thus squandering the one opportunity they have for driving growth in aggregate demand. The population trend is very bearish for the Japanese economy and stock market. What are the cultural reasons for the low fertility, I wonder?
theage.com.au
In contrast, fears over Social Security in the US, for example, are waaaay overdone, for the following reason. The U.S. average fertility rate is currently 2.1335 births per woman, the U.S.’s highest fertility rate since 1971. (For comparison, the United Kingdom’s fertility rate is 1.7, Canada's is 1.4, and Germany's is 1.3.). The US is the same size as China but we're about 1 billion souls behind. Got some catching up to to do!
npg.org |
