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Biotech / Medical : 2012 Biotech Charity Contest
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To: BulbaMan who wrote (282)6/26/2012 11:24:15 AM
From: Steve Lokness5 Recommendations  Read Replies (2) of 513
 
<<<<Japan has had huge deficits for years along with super low interest rates>>>>

Krugman often uses the Japan example - and I disagree with him here too. There is a difference between Japan's debt and ours; theirs is mostly held by their people. They owe themselves. A good portion of ours is held by China and Japan and others of course. Seems to me that if Jpanas interest rates go up, it will consequently be the people there that benefit - rising their incomes. If our interest rate goes up we make China rich. ..........Don't misunderstand where I stand; I'm not a supply sider at all. I think the damage done by Bush administration to our economy will take decades to repair. But I also think keynesian ideology has become ingrained in our society to the point that it no longer has the stimulus effect it did in Keynes day. I think it has allowed us to believe we can live beyond our means stealing from our economic growth of the future.

respectfully; steve
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