The Nikkei index over the past quarter century
acting-man.com / By Pater Tenebrarum / September 4, 2013
A Fount of Economic Fallacies
After Japan has been berated by Western economists for more than 20 years, the mad-cap flight forward by the Abe administration is suddenly held to be able to ‘teach us something’ about what should be done with regard to economic stagnation. It is amazing what a little rally in the stock market and a few highly suspect GDP releases can accomplish.
As the LA Times writes in a recently published article entitled “Japan’s economy is bouncing back, offering a possible model for U.S.”, ‘Abenomics’ (i.e., the same hoary inflationism that has been tried over and over again since John Law) is where it’s at. The article is interesting mainly because it is a fount of economic fallacies on a par with Shinzo Abe’s policies. An excerpt:
“After two decades of economic stagnation, once-mighty Japan is beginning to revive — under policies that some experts say could offer lessons to the still-struggling economies of the United States and Europe.
While the Eurozone tries to break out of recession and the U.S. economic recovery remains anemic, Japan has begun to grow at an encouraging rate.
The shock-therapy policies of Prime Minister Shinzo Abe have helped Japan’s economy expand for three straight quarters at a pace faster than that of the United States.
Thanks to BrotherJohnF