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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (10764)	12/23/2002 3:06:05 PM
From: lurqer	Read Replies (2) \| Respond to of 89467

great dig on Richebacher article about Japan Agree it was a good article. My own take is that Japan's current secular bear (like the '30s, '70s and now in the USA) is at a fundamental level, demographically driven. Much of my view is consistent with the Austrian school, but not quite so fatalistically laissez-faire. Rather than doing nothing a la the Austrian school or trying to defeat the secular bear a la the Keynesian and Monetarist approaches, I would favor some NASA like programs. The purpose of these programs would be investment for the future. Rather than trying to "prop up" the over expanded companies from the preceding mania, careful consideration should be given to where future opportunities lie. That way when demand resumes the "ground work" will be there to best capitalize on the next secular bull period. Specific examples I would consider for such government "investment" would include: 1) a cheap universal "last mile" solution (similar to the rural electrification of the '30s), 2) a ten year assault on cancer (to force feed the fledgling bio-tech industry like the '60s NASA did the computer industry) and 3) something that would be an anathema to the current oil and gas boyz administration - an energy independence initiative. lurqer