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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: JohnM who wrote (255051)	7/5/2014 5:24:01 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 542214

<<<<<if I read him correctly, that the Japanese liquidity trap remains in our near term longish future>>>> Arrrrg! I read a fascinating piece on the Japanese problem just a few days ago. I'll try to find it. What the piece said is that Japan has stimulated the holy crap out of their economy and got nothing in return (other than a whole bunch of debt). He used the level of indebtedness as evidence of the level of stimulation. IOW, the government spent waaaaay more than they took in - keynesian. I continue to believe that the problem Japan has is their demographics. Their population is old - very old - and their young people are increasingly forced to spend more of their earnings to take care of the old - and increasingly - take care of the higher debt levels. We face that same demographics issue and why it isn't given more ink by Krugman - all economist - bewilders me. The lesson from Japan may be different than you think it is. ........... The income disparity is something I absolutely agree with Krugman on.