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(World Review)   Abenomics is ROCKIN' Japan. Prime Minister Shinzo Abe proves his critics wrong and has turned the economy around after 20 years of economic stagnation. Being one of the only countries in the world not to suffer from the global downturn must feel good   ( divider line
    More: Interesting, Abenomics, Japan, Prime Minister of Japan, consumption tax, secondary sector of the economy, recessions  
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992 clicks; posted to Business » on 31 Jan 2014 at 7:49 AM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

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2014-01-31 08:24:00 AM  
2 votes:
They tried everything else. Might as well give Bernanke and Krugman's advice a shot.

And, hey, look at that.
2014-01-31 05:11:08 PM  
1 vote:

HeadLever: jaerik: If by "skyrocket" you mean "mostly flat and still nearly zero," then yes.

That has nothing to do with my point.  Just because they and we have had pretty tame interest now has nothing to do with what happens when you start to enter a debt spiral such as this:

[ image 800x427]

We are not at that point yet, but if we don't get our fiscal hose in order soon, we very well could be.

Oh.  You were using an article about Japanese economics to make a point for US fiscal conservatism.

My mistake.  I assumed we were still even remotely on topic.

Good luck with your hose.
2014-01-31 03:14:02 PM  
1 vote:
It's a goddamned shame Abe is such a sack of shiat when it comes to Japanese cultural issues like the veneration of the soldiers who butchered the Chinese during WW2. If he was a bit more progressive on these issues (I understand how insular and conservative Japan is and how difficult these cultural changes would be, so maybe I'm being overly wishful) all of his press would be about how he and the LDP are proving how ridiculously wrong the austerity freaks are.
2014-01-31 10:41:01 AM  
1 vote:
Don't get any ideas, libs. We still need to cut food stamps, basic research, the EPA, PBS, and Social Security in order to Fix the Debt™.
2014-01-31 10:28:05 AM  
1 vote:
I'd put off those tax hikes in '14 and '15 (and I wouldn't do consumption tax hikes period).  Pedal to the metal until you're clear of deflation, Shinzo.  Don't fark it up like the rest of us.

FTA:  However, interest rates of Japanese public debt remain low, currently at around 0.7 per cent for the 10-year government bond.

One of the reasons is that about 90 per cent of the debt is held by domestic creditors - particularly the Bank of Japan, the national pension fund, and private-sector investors such as banks, pension funds and life insurance companies

Sigh.  No, that's not why interest rates are low.  Japan controls its own currency, and like all countries who control their own floating currencies, interest rates reflect expectations about future monetary policy.  (That's why we get things like inverted yield curves.)  Interest rates are low because bond-buyers expect the BOJ to keep interest rates low.

It's why the bond vigilantes attack these imbeciles in the Eurozone but not Japan despite the Eurozoners having much lower debt-to-GDP ratios.  Same with the Eurozone vs the US, Britain and others.
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