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Non-Tech : MBK---------Bank of Tokyo Mitsubishi Ltd
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To: chirodoc who wrote (14)3/22/1998 11:42:00 AM
From: JG  Read Replies (1) of 170
 
The Japanese government has not made the necessary decisions to turn around their shrinking economy. Richard Koo, chief economist of the Nomura Research Institute and a U.S.Nobel laureate, likens Japan's actions to President Hoover in the early 30's. He didn't do enough to arrest the Depression. Milton Friedman agrees when he said, "the Japanese government has been behaving like Hoover in 1930-31, holding back on public spending. They need to open the money gates." Don't believe we have seen the bottom yet and won't for some time.
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