Japan, Revitalized
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  • Stacy Garvey

    According to a recent Bloomberg story, the percentage of Japanese who have no personal savings increased from 29% to 33% last year, an historic high – the highest percent recorded since the statistic has been kept (1966, I think). Their running a current account deficit and importing all their needed energy. Pardon me, Prof. Mead, but have you been smoking weed? If so, please share.

    • Kavanna

      Yes, the impression I get from Japanese people (both reading and in person) is that Abenomics is all smoke and mirrors. Foreigners are impressed by the stock market (although it’s already peaked) and the decline in the yen. Exporters will do well, at least for a while. That’s about it.

      The increased of energy imports alone guarantees that Japan will never again run trade surpluses. That is setting up the vast Japanese public debt market for a gigantic crisis.

  • Bruce

    Statistically, it appears that Japan is doing well. However, their economic policies consist of printing (counterfeiting) more money on a percentage basis than we are in America. That works until it doesn’t. “That which is not sustainable will end.” They have horrible demographics and does anybody really think that counterfeiting a currency does anything more than buy some time? It may feel good now, but that’s true of a lot of things. It stops feeling good when the consequences appear. Every fiat currency in history has imploded. Japan is just moving up the time when that occurs.

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