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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?Yes.http://krugman.blogs.nytimes.com/http://krugman.blogs.nytimes.com/?s=paradox+of+thrifthttp://krugman.blogs.nytimes.com/2009/07/07/the-paradox-of-thrift-for-real/The theoretical picture looks like this:
The line labeled I shows how investment spending depends on GDP. S1 is the original savings-GDP relationship; it shifts up to S2. The effect of this upward shift in desired savings at any given level of GDP is, paradoxically, a fall in actual savings and investment.
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Protests Alone Are Not a Movement - Room for Debate
Occupy Wall Street must represent the majority of Americans who lack corporate power and political influence.This is Marxist-Leninist theory.They and this professor:-
Protests Are Not a Movement
Stephen Zunes, professor of politics, University of San Francisco
have it reversed.
Movements support demonstrators. The ad hoc organization of the movement supports the demonstrators in the street.
http://firedoglake.com/
#OCCUPYSUPPLYLast updated 11/9 • 100% of donations committed to occupations.
Help the Occupy Supply Fund ship 100% union made, American manufactured cold weather gear to occupations across the country.Please contact us at occupysupply@firedoglake.com if you can help at any of these locations.These people are not alone.
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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'.Japan has been going through their kind of hell.http://www.nytimes.com/2011/11/10/business/global/corporate-japan-rocked-by-scandal-at-olympus.html?ref=businessCorporate Japan Rocked by Scandal at Olympus
By HIROKO TABUCHI
The company has lost three-quarters of its value since the accusations were made and faces several investigations and possible delisting from the Tokyo exchange. -
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
Stephen S. Roach, Morgan Stanley Asia
http://krugman.blogs.nytimes.com/2011/09/03/the-austerity-economy/
The Austerity Economy
Do the dismal economic numbers really reflect the turn to fiscal austerity? I keep hearing people say no, because austerity hasn’t actually happened yet in America. But they’re wrong.
The fact is that the fading out of the stimulus, and in particular of aid to state and local governments, is already and noticeably leading to substantial withdrawal of government demand. Look, in particular, at actual government purchases of goods and services — governments at all levels buying stuff — which is what standard macroeconomics says should have the highest multiplier, since unlike transfers and tax cuts it is by definition spent rather than saved. Here’s the picture, showing changes in real spending over the previous year:
When the recession officially ended, spending was rising at an annual rate of around $60 billion; now it’s declining at an annual rate of $60 billion. That difference is around 1 percent of GDP, and maybe 1.5 percent once you take the multiplier into account. That makes the turn toward austerity a major factor in our growth slowdown.
Still, I guess the beatings will continue until morale improves.
http://krugman.blogs.nytimes.com/?s=lost+decade
http://krugman.blogs.nytimes.com/2011/06/08/bernanke-san-watch/
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Don’t Look to Japan as a Model
Takatoshi Ito, University of Tokyo
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Greater Savings Doesn't Lead to Stagnation - Room for Debate
The way forward is for us to earn more not save more of what we earn.Wages are not rising.Paying down debt is a form of thrift.Let us be clear as to what is under discussion.
http://krugman.blogs.nytimes.com/2009/07/07/the-paradox-of-thrift-for-real/The theoretical picture looks like this:
The line labeled I shows how investment spending depends on GDP. S1 is the original savings-GDP relationship; it shifts up to S2. The effect of this upward shift in desired savings at any given level of GDP is, paradoxically, a fall in actual savings and investment.
Obvious truth. Once you see the diagram.Keynes did it, Krugman explains it.
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Matt
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BlueMoose
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Raise America’s Taxes
Finally people are beginning to tell the truth about taxation. We demand certain services from our government and we need to pay for them. There is no tooth fairy and cutting taxes does not increase revenues. It is time for politicians to stop catering to the minority of voters who act like spoiled children and appeal to the grown ups in the land.
It did not penetrate.Taxes did not go up then.
They have yet to go up nationally.
Most officials are not brave enough to submit the bill.
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BlueMoose
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Raise America’s Taxes
Finally people are beginning to tell the truth about taxation. We demand certain services from our government and we need to pay for them. There is no tooth fairy and cutting taxes does not increase revenues. It is time for politicians to stop catering to the minority of voters who act like spoiled children and appeal to the grown ups in the land.It did not penetrate.Taxes did not go up then.
They have yet to go up nationally.
Most officials are not brave enough to submit the bill.
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