JAPAN-Nikkei-Time to go back up? Message Board

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Strategies & Market Trends : JAPAN-Nikkei-Time to go back up?

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To: chirodoc who wrote (819)	3/30/1998 11:24:00 PM
From: synchro	Read Replies (1) of 3902

$124 billion (16 trillion yen and dropping, depending on how fast the yen plunge) is less than the capitalization of some of the S&P 500 stocks. Doesn't it seem somewhat hilarious that they expect this to do anything? If prosperity can be manufactured by public works projects, France and Soviet Russia would have been rousing successes studied by every pie-in-the-sky socialist in the U.S. academia. That Keynesian multiple-expansion leverage factor in those IS/LM models is dead in the Japanese waters. Similar to what Winston Churchill said about the Americans, maybe the Japanese will indeed try every alternative before doing the right thing: structural reform, massive tax cuts, complete deregulation, deconstruction of big government, and utter capitulation to laissez-faire capitalism. But I guess a slow, painful rot to economic death is preferable.

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