tag:blogger.com,1999:blog-1740670447258719504.post8090835112805228125..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Andrew Sullivan is frustrating meEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-1740670447258719504.post-10596108999035975082011-04-07T14:30:09.915-04:002011-04-07T14:30:09.915-04:00And of course, much of that was predicated on the ...And of course, much of that was predicated on the banks/state pumping money into zombie firms engaging in a "too big to fail" policy that did not allow for the sort of creative destruction and reordering that is the lifeblood of a market system. Japan is a classic case of private profits and socialized costs.Gary Gunnelshttps://www.blogger.com/profile/14463810435943252898noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-27977652953985282132011-04-07T14:28:39.672-04:002011-04-07T14:28:39.672-04:00Prateek,
Didn't Japan recently experience a &...Prateek,<br /><br />Didn't Japan recently experience a "Lost Decade?" Indeed, many Japanese are now starting to refer to the period of 2001-2009 as a "Lost Decade" as well.Gary Gunnelshttps://www.blogger.com/profile/14463810435943252898noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-31710551604602832632011-04-07T04:10:44.747-04:002011-04-07T04:10:44.747-04:00Well yeah, Japan manages to do well enough with a ...Well yeah, Japan manages to do well enough with a national debt to GDP ratio much higher than the States's (I think?), and non-institutional Japanese people are glad to keep buying their government's bonds. Who are we to tell them where to park their money?<br /><br />If Japanese people trust in the Japanese region's stability enough to buy their own government's bonds (despite North Korea and China looming over them), surely Americans would be even more certain about their own region.<br /><br />PS: But I am not sure how many individuals and households in America buy bonds. After all, financial institutions are *compelled* by the government to hold a certain number of government bonds.Prateek Sanjaynoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-982710393108755282011-04-06T18:17:20.656-04:002011-04-06T18:17:20.656-04:00And here I thought we were an "advance post-i...And here I thought we were an "advance post-industrial power." Of course, things like calling a place a "power" make me cringe because they are so mercantilist in viewpoint.Gary Gunnelshttps://www.blogger.com/profile/14463810435943252898noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-32498591603644241542011-04-06T18:03:29.848-04:002011-04-06T18:03:29.848-04:00While I think getting the deficit down to that lev...While I think getting the deficit down to that level is great (I am not holding my breath that it will happen), I stopped paying attention to Sullivan when he was a full on supporter of the war in Iraq.Gary Gunnelshttps://www.blogger.com/profile/14463810435943252898noreply@blogger.com