howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
#1
read this morning that japan has a deficit twice the sum of their gross domestic product.
they did not even need gordon to help them do it.
they are the latest country to introduce austerity measures.
Guest 690- Registered: 10 Oct 2009
- Posts: 4,150
#2
Lets hope this time they don`t bomb Pearl Harbour.
Tell them that I came, and no one answered.
#3
Japan has been in a mess for the past couple of decades suffering from deflation rather than the inflation which haunts the West and no Prime Minister lasting more than three years.
Fortunately the latest Prime Minister Naoto Kan has been finance minister and may be the guy to sort it out.
Whatever their problem with deficit they are still the second biggest economy in the world and have seen growth of 5% last quarter (the fourth quarter of growth in a row).
There are those of course who blame the decline on demographics i.e. an ageing population and the population unwilling to welcome immigration.
Perhaps if they too were rejoicing in a multi cultural and vibrant society their economy might be doing better????