This time from the New York Times:
In 1991, economists were predicting that Japan would overtake the United States as the world’s largest economy by 2010. In fact, Japan’s economy remains the same size it was then: a gross domestic product of $5.7 trillion at current exchange rates. During the same period, the United States economy doubled in size to $14.7 trillion, and this year China overtook Japan to become the world’s No. 2 economy.
I am seeing more and more of the above image here in Tokyo. It just seems like things have gone into 1/2 speed these last ten years or so. It was all so unnoticeable on the streets and in the faces of the people until recently.
Just like the lines above show: Japan's economy hasn't grown at all in twenty years (coming on thirty).... Yet, Japanese politicians continue with the same policies.
Thanks to Japansoc!
Japanese politicians are simply doing what's in their own interests or what the US tells them to.
ReplyDeleteSince western interests have successfully taken control of Japanese government, finance, and media, she's lost her mojo.
Look at Sony, a company now owned and headed by "gaijin". Thanks to weak government, Japan spread her legs and is now pregnant with a bastard child...
It's natural that Japan has lost its mojo and people are feeling down after nearly 30 years of BOJ and government induced recession. On a positive note, I would point out that Japan has wonderful people, a superb infrastructure, and is strategically located near large markets. The people are smart, industrious, honest, and polite, friendly as far as I am concerned. Compare these attributes to other countries and you can see there are many reasons to be optimistic. Just close the BOJ, stop spending on wasteful government schemes, let the blessed deflation take its course so we can liquidate, liquidate, liquidate, at the (lower) free market price.
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