Why is Japan headed for a "debt explosion" when they are getting their plays from the Rubin/Greenspan/Seidman play book?....
Well I certainly don't see where the Japanese banker/politicians have been listening. Do you really believe we have the power to "tell" the Japanese what to do??
Someone is holding the aces and 8s...and somehow, I just don't think it is the ordinary Japanese, thrifty, respectful, community minded masses. Somehow, consumerism hasn't polluted your people like it has corrupted us from inside out...
Actually, the Japanese people do hold the aces. They have the savings that would reinvigorate the economy through consumer demand. And their reluctance to spend, but rather preserve what wealth they have, and ultimately the votes they cast, allow them to determine what trump will be.
They just have to excersize their power.
Btw, the Japanese were very big consumers during the good times. The problem was that they just consumed their own domestically produced, overpriced goods.
Had the Japanese been taking their plays from the US, they would have dropped trade restrictions against foreign products years ago, and adopted a profit oriented, not market share oriented, economy.
Regards,
Ron |
