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The Pope’s Letter: Neoliberalism and Fukushima

The Pope’s Letter: Neoliberalism and Fukushima

Japanese sociologist and Tokyo Metropolitan University professor, Shinji Miyadai argues that European nations progressed from the communal self-governance of food to the communal self-governance of energy after World War II. Miyadai compares Europe’s post-war developments with those of post-war Japan in his article entitled ‘Pitfalls of the Nuclear Power Reduction Movement’. His contention is simple: As opposed to Europe, Japan had actually “accelerated its dependence on the market through trade liberalization and deregulation…”

Post-war economic indenture was exactly what the United States wanted from Japan. Moreover, the US was able to procure Japanese market dependence through discussions on the trade liberalization of agricultural goods (and later, the US-Japan Structural Impediments Initiative talks). Miyadai claims that the hollowing effects of these US-sponsored neoliberal adjustments would exact their toll on Japanese communities in the 1980s and 1990s.

Neoliberalism’s averse effects climaxed when the 1997 recession – induced by the Asian currency crisis – washed over Japan. Miyadai recalls the serious outcomes of a barely functioning Japanese economy, which then finally ceased to function. Among the consequences were: Japan’s heightened rate of suicide (four times that of the UK and twice that of the US); the scandal of the missing or long-dead elderly; ubiquitous infant and child abuse or neglect; and a third of Japan’s dead, cremated without funeral.

Indeed, as Miyadai laments, “Well before the Great East Japan Earthquake, Japanese society had already begun to disintegrate.”

Distorting Japan’s Foreign Policy

After WWII, the US meddled in Japan’s foreign policy. Miyadai offers the Kuril Islands dispute as evidence of this. The dispute actually begins with something Miyadai labels as Japan’s “castration experience.” This “castration” entails America’s dropping of atomic bombs, Japan’s US-written post-war constitution, and the US-Japan Security Treaty signed under Washington’s persistence.

 

…click on the above link to read the rest of the article…

 

Lord Rothschild Warns Investors: “Geopolitical Situation Most Dangerous Since WWII”

Lord Rothschild Warns Investors: “Geopolitical Situation Most Dangerous Since WWII”

For Lord Rothschild, preserving wealth has “become increasingly difficult,” recently, as he warns, rather ominously, “we are faced with a geopolitical situation as dangerous as any we have faced since World War II.” Furthermore Lord Rothschild summarizes his thoughts briefly, eloquently, and ominously… as he touches on the global debasement of fiat currencies, disappointing growth (in light of massive monetary stimulus), and extreme stock market valuations. As Rothschild Wealth Management noted last year, equities are not well supported by current valuations, while monetary policy is limited by high debt levels and interest rates that are already close to zero… exposing equities to a potentially sharp correction.

Lord Rothschild summarizes his thoughts briefly, eloquently, and ominously…

Our policy has been clearly expressed over the years. Simply put, it is to deliver long-term capital growthwhile preserving shareholders’ capital; the realisation of this policy comes at a time of heightened risk, complexity and uncertainty. The economic and geopolitical environment therefore becomes increasingly difficult to predict.

The world economy grew at a disappointing and uneven rate in 2014 after six years of monetary stimulus and extraordinarily low interest rates.

Stock market valuations however, are near an all-time high with equities benefiting from quantitative easing.

…click on the above link to read the rest of the article…

 

Olduvai IV: Courage
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Olduvai II: Exodus
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