Though we noted the plight of the Japanese worker in a previous post, a plight which arrived in
the US some five years ago yet which the mainstream
still refuses to acknowledge, the punchline may have been somewhat diluted. So
here it is again, without much additional commentary.
When it comes to the
consequences of Japan's QE, now in its third year, the head of the BOJ has been
very clear:
- KURODA: BOJ'S EASING IS HAVING INTENDED EFFECTS: 5/14/2015
- KURODA: JAPAN IS APPROACHING FULL EMPLOYMENT: 5/13/2015
- RODA: JAPAN ECONOMY IMPROVED CONSIDERABLY AFTER QQE POLICY: 5/13/2015
In short: Keynesian
policies (courtesy of the sage advice of none other than Paul Krugman), coupled with some $80
billion in monetarism monthly, have been a smashing success. At least that's
the propaganda. Now, here is Japan's "full employment" truth.
Exhibit A: soaring part-time jobs: Part-Time jobs rose
3.5 million and Full Time jobs
Part-Time
jobs rose by 3.5 million since 2007. Most Part-Timers are Middle Age and
Seniors. Full-Time jobs rose by 1.2
million. Real Wages have declined 10%
since 1991.
Comments
Japan
has been printing money for decades. Millions of part-timers live in
closet-size bedrooms rented inside internet café’s. They report that when they
were full-time, their rents were too high and their workday was too long. They
work part-time for subsistence. They are single and don’t own cars.
The
Japanese government, like ours, is in denial about our declining economies and
continue to increase their unsustainable debt to forestall deflation. We both would have been better off not doing
any money printing and allowing their economy to normalize. They face the same
currency crash we are expecting in the U.S. because they have already printed
too much money.
Norb
Leahy, Dunwoody GA Tea Party Leader
No comments:
Post a Comment