I remember being told back in the 80s that the West needed to emulate the Japanese model which had allegedly conquered the business cycle with by meshing private businesses with a careful dose of central planning. Fueled by easy credit, the marriage of private and public interests turned out to be a sham and to this day the only solution offered is even more easy credit.
“I was still a student in the 90s. Life was great. I went out drinking almost every day wasting money on women, gambling, and putting anything I had left into all kinds of investments. Everything was going up and it felt like every Yen I spent was going to double next year. Our brains had been so thoroughly poisoned by the bubble of the past few years that we were all insanely optimistic. Most of us didn’t even consider that the prosperity could ever come to an end.”
oh ya.
followthejapanesemodel. followthejapanesemodel. bla bla bla.
jit ‘just in time’ delivery was another. worked reaaaaaaal good for them when the average distance between the furthest 2 points ‘A’ and ‘B’ was the same as Toronto and Woodstock. and some of it was some sort of dedicated rail. with different weather.
it didnt work in Canaduh with distances 10 times farther and winter blizzards but followthejapanesemodel.
In my politics student had a prof who expected to have his opinions spewed back at him, being a genius.
I wrote an essay about trade with Japan, essentially arguing we could use them as a counterweight against US intervention in and domination in our markets and culture, as the Mulroney free trade agreement debate raged.
I purposefully wrote what I believed to be balderdash and understood any talk of not hitching our wagon to a falling star, aka the US, was protectionist Mel Hurtig/Maude Barlow nonsense. But I wanted to prove to myself this prof wasn’t like the rest where we were required to substantiate ideas, that regurgitating his addled views was where the marks were. My buddies gagged as they read the paper. I got an A. Plus ca change, plus c’est la meme chose.
we had a couple of japanese exchange student back 10 years ago. thoroughtly disappointing , they were incapable of getting in a car door by themselves . wanted to shop all the time. never bought a thing. A preview for us of the mall at CrossEyedMills Calgary , where its all asians walking the mall and not buying anything .
The Japanese were the first to employ Quantitative Easing as a method of smoothing out the dips, and all that happened is that generated stagnation instead of growth…
Our “expert class” thought we’d have a different outcome.
The West is on the precipice.
Soon the East will overtake the West.
There is nothing new under the sun, least of all the nonsense “experts” type to justify not doing anything constructive for a living.
Here’s the only way anybody ever managed to “developed a country.”
1. Get rid of the garbage people and see they don’t return.
2. Replace them with people who aren’t garbage.
3. Sit back and leave it to the wit and industry of the non-garbage people to make the desert bloom.
Kahane Tzedek= Santaina’s ghost, strapon various
Nice racist bigoted rant you have there? Are you a “real;” Joo?, asking for a friend
LOL, Abenomics, it always provokes hilarity over at Zero Hedge.
RNrn
Well, at least they don’t have O’Butthole running the show in Japan! There’s that.
Sounds like the major problem with the Japanese Economy was cronyism and the Liberal Democrat Party protecting their own personal interests and their political donors.
I am so, so glad that can never, ever happen here! Trust our leaders!
Trust the Liberals!
Trust the Democrats!
Trust the Party!
I remember buying a Japanese phrase book to learn on my frequent flights at the time. I figured eventually I’d be courting Japanese investors or banks