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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (7863)	1/5/2003 11:20:59 PM
From: JF Quinnelly	Read Replies (1) \| Respond to of 306849

Excellent post. You obviously are very well informed on this subject. . Japan's mercantilist policy, which was not understood then (or now) by the West, flew in the face of the theory. I acquired some books by the likes of Clyde Prestowitz, Chalmers Johnson, Karel von Wolferen, and a few others who tried to arouse interest in the issue, but their work would get summarily dismissed with the put-down of "industrial policy". It seems to me that if this issue had been addressed in the mid-80s, the Japanese likely would not have suffered their melt-down, and American manufacturing might be stronger. The Japanese didn't have much use for "the invisible hand" of the market, and the mainland Chinese don't either, IMO. I don't know how long we can keep consuming our way to prosperity, but I doubt it's forever. Maybe the strength in gold and the CRB is a bet that the game of propping up the dollar is nearing the end.