{"id":1106,"date":"2014-11-04T19:33:22","date_gmt":"2014-11-05T00:33:22","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1106"},"modified":"2014-11-04T19:33:22","modified_gmt":"2014-11-05T00:33:22","slug":"oftwominds-charles-hugh-smith-anatomy-of-a-failing-state-japans-budgetary-nightmare","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1106","title":{"rendered":"oftwominds-Charles Hugh Smith: Anatomy of a Failing State: Japan&#8217;s Budgetary Nightmare"},"content":{"rendered":"<p><a href=\"http:\/\/charleshughsmith.blogspot.ca\/2014\/11\/anatomy-of-failing-state-japans.html\">oftwominds-Charles Hugh Smith: Anatomy of a Failing State: Japan&#8217;s Budgetary Nightmare<\/a>.<\/p>\n<p style=\"display: inline; height: 0px; overflow-x: visible; overflow-y: visible; padding: 1px 0px 1px 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><i style=\"background-color: white; padding: 0px; margin: 0px;\">Once the global economy rolls over into contraction, the tide will recede and Japan&#8217;s fiscal and monetary bankruptcy will become painfully apparent.<\/i><\/span><\/p>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><b style=\"padding: 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><br style=\"padding: 0px; margin: 0px;\" \/><\/span><\/b><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><b style=\"padding: 0px; margin: 0px;\">What do you get after 25 years of stagnation and Keynesian Cargo Cult monetary stimulus? A failing state, that&#8217;s what.<\/b>\u00a0The intellectually bankrupt ruling Elites of Japan have no solution for Japan&#8217;s slow stagnation, as real reform would diminish their wealth and power.<\/span><br style=\"padding: 0px; margin: 0px;\" \/><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><br style=\"padding: 0px; margin: 0px;\" \/><\/span><\/div>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\">So their only &#8220;solution&#8221; is to double-down on monetary stimulus: flood the enfeebled Japanese economy with more credit and fiscal stimulus, a.k.a. building bridges to nowhere:\u00a0<a style=\"color: #004387; text-decoration: underline; padding: 0px; margin: 0px;\" href=\"http:\/\/www.oftwominds.com\/blognov14\/monetary-pearl-harbor11-14.html\" target=\"resource\">Japan&#8217;s Monetary Pearl Harbor<\/a>.<\/span><\/div>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><\/div>\n<p><span class=\"Apple-style-span\" style=\"font-family: Georgia, Times, serif; line-height: 21px; color: #000000;\"><\/span><span class=\"Apple-style-span\" style=\"font-family: Verdana, sans-serif; line-height: 21px; color: #000000;\"><b style=\"padding: 0px; margin: 0px;\">But reality isn&#8217;t as immobile as failed policies.<\/b>\u00a0While Japan&#8217;s ruling Elites fiddled away the past 25 years propping up sclerotic cartels and phantom loans, Japan&#8217;s population has aged and its primary sources of wealth creation have atrophied.<\/span><\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>oftwominds-Charles Hugh Smith: Anatomy of a Failing State: Japan&#8217;s Budgetary Nightmare. Once the global economy rolls over into contraction, the tide will recede and Japan&#8217;s fiscal and monetary bankruptcy will become painfully apparent. What do you get after 25 years of stagnation and Keynesian Cargo Cult monetary stimulus? A failing state, that&#8217;s what.\u00a0The intellectually bankrupt [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[57,195,452,535],"class_list":["post-1106","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-japan","tag-debt","tag-japan","tag-monetary-stimulus"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1106"}],"version-history":[{"count":0,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1106\/revisions"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}