My brother sent me this article from the Wall Street Journal the other day. It may have more importance than anything else relating to the Us recession and global economic slowdown.
The article, titled Barack Obama-san, mentions that President elect Obama's plans to pump money into the economy in his term as President may not be the best alternative at a time like this. It tells the story of Japan in the 1990s, when property prices were plummeting, and the stock market sunk 60% over three years. It also tells the story of how one stimulus package after another was thrown at the problem, but the only when leaders made the "decision to privatize state assets and force banks to acknowledge their bad debts, did the economy recover".
Maybe we have some lessons to learn and be precautious about what is being told to us.
Carpe diem.
The article, titled Barack Obama-san, mentions that President elect Obama's plans to pump money into the economy in his term as President may not be the best alternative at a time like this. It tells the story of Japan in the 1990s, when property prices were plummeting, and the stock market sunk 60% over three years. It also tells the story of how one stimulus package after another was thrown at the problem, but the only when leaders made the "decision to privatize state assets and force banks to acknowledge their bad debts, did the economy recover".
Maybe we have some lessons to learn and be precautious about what is being told to us.
Carpe diem.
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