Wednesday, February 18, 2009
Land of the Sinking Yen
The dire effects of large scale financial mismanagement are being felt around the world, and Japan is no exception. After a decade of trying to dig their way out of their own housing meltdown of the late 80s, Japan's fragile economy has been dealt a severe blow by the current, global mess. One factor that we Americans should study with great interest is that they tried a "stimulus" scheme involving make-work projects and lavish government spending, but it only yielded dependency and a massive debt which may never be paid off. The second half of this article touches on the problem of the very low birthrate and its negative effects on the country's prosperity.