Return to Japan?
Tell the waiter that you are a Buddhist if you want vegan.
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Give Voters Choices and Competition - Room for Debate
Citizen-led redistricting, open primaries and public financing of elections would make political races more competitive and bring out more voters.
This is a path specifically closed by the founders of our republic.They were very familiar with parliamentary governance and rejected it for good reason.These things are done in primary elections.Concerned people are active in internal party politics. -
Would Americans Be Better Off if They Saved Like the Japanese? - Room for Debate
Are economists right to fear that Americans might follow the Japanese model of saving to the point of stagnation?"Been there. Done that."The editorial page is behind the curve. -
Dick Grasso on Occupy Wall Street
Dick Grasso and his interviewers are living a lie.
The euro has died. They are searching for the will.
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Japan Offers Experience for the U.S. to Live By - Room for Debate
We should envy and attempt to learn from Japan's 'lost decades'.
"Simon Johnson, a professor at the M.I.T. Sloan School of Management and a senior fellow at the Peterson Institute for International Economics, is the co-author of "13 Bankers: The Wall Street Takeover and The Next Financial Meltdown.""
He may be an honest man.
Japan tried stimulus and ended it very early.
We should certainly try to learn from their experience.I do not see Japan as enviable though they have done better thanthe Greenspan fed.
http://krugman.blogs.nytimes.com/2011/11/09/i-am-a-frankfurter/
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Mandatory Voting Would Be a Disaster - Room for Debate
If we force everyone to vote, the electorate will become even more irrational and misinformed.I do not see how this could be."The median voter is incompetent at politics. The citizens who abstain are, on average, even more incompetent. If we force everyone to vote, the electorate will become even more irrational and misinformed. The result: not only will the worse candidate on the ballot get a better shot at winning, but the candidates who make it on the ballot in the first place will be worse."http://krugman.blogs.nytimes.com/2011/11/09/this-is-the-way-the-euro-ends-2/"November 9, 2011, 9:55 amThis Is The Way The Euro Ends
This is the way the euro ends.
This is the way the euro ends.
Not with a bang but with bunga-bunga.
Seriously, with Italian 10-years now well above 7 percent, we’re now in territory where all the vicious circles get into gear — and European leaders seem like deer caught in the headlights. And as Martin Wolf says today, the unthinkable — a euro breakup — has become all too thinkable:
A eurozone built on one-sided deflationary adjustment will fail. That seems certain. If the leaders of the eurozone insist on that policy, they will have to accept the result.
Every even halfway plausible route to euro salvation now depends on a radical change in policy by the European Central Bank. Yet as John Quiggin says in today’s Times, the ECB has instead been part of the problem.
I believe that the ECB rate hike earlier this year will go down in history as a classic example of policy idiocy. We would probably still be in this mess even if the ECB hadn’t raised rates, but the sheer stupidity of obsessing over inflation when the euro was obviously at risk boggles the mind.
I still find it hard to believe that the euro will fail; but it seems equally hard to believe that Europe will do what’s needed to avoid that failure. Irresistible force, meet immovable object — and watch the explosion."
http://www.ft.com/home/uk
http://www.bbc.co.uk/news/business-15652708
9 November 2011 Last updated at 11:49 ETItaly borrowing costs hit record 7%
Continue reading the main storyMarket Data
Last Updated at 16:10 ETMarket index Current value Trend Variation % variation Dow Jones 11767.93 Down -402.25 -3.31% Nasdaq 2620.65 Down -106.84 -3.92% S&P 500 1228.71 Down -47.21 -3.70% FTSE 100 5460.38 Down -106.96 -1.92% Dax 5829.54 Down -131.90 -2.21% BBC Global 30 5451.37 Down -71.22 -1.29% Italy's cost of borrowing has touched a new record, a day after Prime Minister Silvio Berlusconi said he would resign once budget reforms were passed.
IMF chief warns of 'lost decade'
The head of the International Monetary Fund warns that the global economy risks being plunged into a "lost decade" as a result of Europe's debt crisis. -
America's Zombie Consumers - Room for Debate
As long as the United States remains in denial of its Japan problem, the greater the possibility of its own strain of lost decades.
America's Zombie Consumers
November 8, 2011Stephen S. Roach is the non-executive chairman of Morgan Stanley Asia and a former chief economist of the investment firm. He is the author of The Next Asia."It’s far too late to argue that the U.S. economy hasn't fallen into a Japanese-like quagmire. Like Japan, we allowed asset bubbles to distort our real economy -- property and credit in the case of the U.S. as opposed to property and equities in Japan. When those bubbles burst, wrenching balance sheet recessions gripped both economies, constricting the corporate sector in Japan and consumers in America. As Japan’s two lost decades should have taught us, the aftermath won’t be easy in the United States."
http://krugman.blogs.nytimes.com/
balance sheet recessions
1-3 of 3 ResultsThis Morning In Peevishness
Yes, I thought of that.
Notes On Koo (Wonkish)
Good stuff, but some flaws.
Balance sheets and the trade cycle (somewhat wonkish)
Paul Kedrosky has the slides from a presentation by Nomura’s Richard Koo on “balance sheet recessions”, a meme that’s been gaining ground lately. I’m in the process of trying to think this stuff through more formally; here’s a quick note about where my thoughts are tending. As I see it, the balance sheet recession approach [...]
http://krugman.blogs.nytimes.com/2009/04/06/balance-sheets-and-the-trade-cycle-somewhat-wonkish/
"What this style of modeling suggests is that over the course of the whole cycle, the problem isn’t so much excessive debt as the fact that everyone tries to increase or reduce debt at the same time. What deficit spending can do is stabilize things: you have one big player in the economy that is increasing debt when the economy is stuck in a paradox-of-thrift world, then pays that debt down when the private sector is happy to borrow."
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Should Voting in the U.S. Be Mandatory? - Room for Debate
Or are there already too many people casting ballots?
The weirdness of the American Electorate is the product of a century of intense effort. Much of that effort has been concentrated on corrupting the study of history. The difficulty we have in communicating FDR and Keynes and the actual events since is illustrative. The effort probably begins with the post Civil War recession and the return to the silver standard.
"Hard Money" has a lot to answer for. That includes "hard times"
http://www.bbc.co.uk/news/business/market_data/overview/
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