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  1. Standard member sh76
    Civis Americanus Sum
    17 Oct '10 01:18
    An article in Friday's Journal (can't find it online) speculated as to whether Japan's 2 decade economic malaise caused by enormous real estate and credit bubbled in the late 80s is the harbinger for the west at this point.

    Of course, most of the article quoted optimists stretching to find inherent differences between Japan and the US, etc. But, frankly, they were not all that convincing.

    So, are we doomed to decades of economic stagnation, deflation and near zero interest rates or are we really different?
  2. Donation rwingett
    Ming the Merciless
    17 Oct '10 01:42
    Originally posted by sh76
    An article in Friday's Journal (can't find it online) speculated as to whether Japan's 2 decade economic malaise caused by enormous real estate and credit bubbled in the late 80s is the harbinger for the west at this point.

    Of course, most of the article quoted optimists stretching to find inherent differences between Japan and the US, etc. But, frankly, the ...[text shortened]... es of economic stagnation, deflation and near zero interest rates or are we really different?
    Japan has a much more egalitarian society than we do. Their UN Gini coefficient of 24.9 is just behind Denmark (24.7). The US, by contrast, is at a disgraceful 40.8.
  3. 17 Oct '10 03:56
    how does that work? coz i'd have thought that a society that can pay outrageous prices for moldy old paintings must have its share of super-rich.
  4. Standard member spruce112358
    Democracy Advocate
    17 Oct '10 07:05
    Originally posted by sh76
    An article in Friday's Journal (can't find it online) speculated as to whether Japan's 2 decade economic malaise caused by enormous real estate and credit bubbled in the late 80s is the harbinger for the west at this point.

    Of course, most of the article quoted optimists stretching to find inherent differences between Japan and the US, etc. But, frankly, the ...[text shortened]... es of economic stagnation, deflation and near zero interest rates or are we really different?
    Maybe not be the same, but similar theme:

    http://www.nytimes.com/2010/10/17/world/asia/17japan.html

    "Few nations in recent history have seen such a striking reversal of economic fortune as Japan. The original Asian success story, Japan rode one of the great speculative stock and property bubbles of all time in the 1980s to become the first Asian country to challenge the long dominance of the West.

    But the bubbles popped in the late 1980s and early 1990s, and Japan fell into a slow but relentless decline that neither enormous budget deficits nor a flood of easy money has reversed."

    "Japanese leaders at first denied the severity of their nation’s problems and then spent heavily on job-creating public works projects that only postponed painful but necessary structural changes, economists say."

    ===

    Deficit spending and public works. Sound familiar? Have you heard anyone recently proposing that the US take identical steps as a cure for our recession brought on by a property bubble? Krugman, say? Or Thomas Friedman?
  5. Standard member spruce112358
    Democracy Advocate
    17 Oct '10 07:05
    Originally posted by rwingett
    Japan has a much more egalitarian society than we do. Their UN Gini coefficient of 24.9 is just behind Denmark (24.7). The US, by contrast, is at a disgraceful 40.8.
    Yes, the Japanese all seem to be equally depressed these days.
  6. 17 Oct '10 08:01
    Some major differences between Japan and the US:

    - Japan is even less democratic and is ruled by the same elite for 50 years or so.
    - Japan has a much larger government debt.
    - The Nikkei bubble was much larger than the real estate bubble of the late 2000s.
    - A huge lack of emancipation of women in Japanese society hides rampant hidden unemployment.

    On the positive side, however, Japan has a better distribution of income and a more efficient health care system.
  7. 17 Oct '10 11:06
    Originally posted by sh76
    An article in Friday's Journal (can't find it online) speculated as to whether Japan's 2 decade economic malaise caused by enormous real estate and credit bubbled in the late 80s is the harbinger for the west at this point.

    Of course, most of the article quoted optimists stretching to find inherent differences between Japan and the US, etc. But, frankly, the ...[text shortened]... es of economic stagnation, deflation and near zero interest rates or are we really different?
    So long as the progressives remain in power.
  8. 17 Oct '10 16:15
    Originally posted by KazetNagorra
    Some major differences between Japan and the US:

    - Japan is even less democratic and is ruled by the same elite for 50 years or so.
    - Japan has a much larger government debt.
    - The Nikkei bubble was much larger than the real estate bubble of the late 2000s.
    - A huge lack of emancipation of women in Japanese society hides rampant hidden unemploymen ...[text shortened]... ide, however, Japan has a better distribution of income and a more efficient health care system.
    we have rampant hidden unemployment, too.
  9. 17 Oct '10 16:43
    Originally posted by zeeblebot
    we have rampant hidden unemployment, too.
    To an extent, but American women are more emancipated and participate more in the labour market (though obviously not as much as in Nordic countries). This is a big deal for a modern economy.
  10. Standard member sh76
    Civis Americanus Sum
    17 Oct '10 17:18
    Originally posted by KazetNagorra
    To an extent, but American women are more emancipated and participate more in the labour market (though obviously not as much as in Nordic countries). This is a big deal for a modern economy.
    If American women are so emancipated, why doesn't my wife want to work?
  11. 17 Oct '10 18:20
    Originally posted by sh76
    If American women are so emancipated, why doesn't my wife want to work?
    They aren't "so emancipated", but at least a lot more than Japanese women.
  12. 17 Oct '10 19:55
    Originally posted by sh76
    If American women are so emancipated, why doesn't my wife want to work?
    she must think your domicile is big enough already.
  13. 17 Oct '10 19:56
    Originally posted by KazetNagorra
    To an extent, but American women are more emancipated and participate more in the labour market (though obviously not as much as in Nordic countries). This is a big deal for a modern economy.
    actual female employment or stated (by govt) female employment, in Nordic countries?

    who raises the kids?
  14. Standard member sh76
    Civis Americanus Sum
    18 Oct '10 01:06
    Originally posted by zeeblebot
    actual female employment or stated (by govt) female employment, in Nordic countries?

    who raises the kids?
    Haven't you read about European fertility rates?

    They don't have kids.
  15. 18 Oct '10 02:07 / 1 edit
    i forgot. they import Turks and Kurds.

    Fratricide (2005), http://www.imdb.com/title/tt0470702/

    Two young Kurdish refugees, recently arrived in Germany struggle to make their way through the harshness of the occidental city. Their encounter with a gang of Turks ...