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Thread: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by Helix View Post
    i suppose that it depends on your definition of "works."
    It would work better if we removed corporate protectionism. We have tried it with protectionism, it didn't work at the level we thought. We have now tried "trickle up" which has not shown any indication of working even a little. Maybe "trickle down" minus protectionism should be tried.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by Helix View Post
    i suppose that it depends on your definition of "works."
    I guess your right.

    I guess i should say it works for those willing to work. It doesnt really benefit the lazy and useless. They are the ones who benefit from re-distribution arent they? Re-distribution relies on the work and success of the upper and upper-middle classes. It encourages the lower classes to hate the upper classes because of their success and it penalizes them for being so. It creates dependency to government and it takes away peoples ability to provide for themselves. It opperates on the premis that we cant lift up these people up, so we will instead pull these other people down. You talk about the wealthy making money like its some sort of scandal and you rationalize it by saying that making "some" money is ok, but the rich make way more than they deserve, so obviously they should give the rest to us, even though we have done nothing to earn or deserve it.

    So ya, i guess it depends on your definition of "works".

  3. #33
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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by DVSentinel View Post
    The Public debt there is over 200% of GDP. List of countries by public debt - Wikipedia, the free encyclopedia How in the world could they ever let themselves get that deep into it? The problem with living on debt is that sooner or later, the debt has to be payed back. Servicing that debt is going to take up greater and greater portions of the available money, causing the need for greater debt to maintain the same level of services.

    Take a look at their tax rates, there is not very much room to raise it before it just decimates individual income. Higher corporate taxes also chases away business.

    Their opposition is right to try to stop the bleeding from debt and not allow more. Yes, austerity measures are going to hurt, but so will total collapse. Yet another country where the government providing social services has driven the budget and debt to unsustainable levels. We really need to wake up in the US and realize that we are headed down the same road. Our debt is over 100% GDP, way, way to high. It is time to make austere cuts to entitlements where we can, otherwise, we are now to the point where our debt will cause us even more debt just to service it.

    Cut some now or cut all later, that is our choice and we need to make it. Do we have room to raise taxes, maybe, a overhaul of our tax system is needed, but taxes alone will not make up the difference and we can ill afford to keep piling on debt.
    In Japan's case it is not social services that is the cause, but excessive infrustructure spending on projects that are unneeded and wasteful.
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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by PeteEU View Post
    Eh show me in post 15 where I say they will default? I in fact state they wont because of several reasons. /shrug.
    You missed my point.

    This is beyond boring. I have made my points, you yours.

    Let me know when your mind is open to new macroeconomic ideas.

    Until then...

    ...have a nice day.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by DA60 View Post
    You missed my point.

    This is beyond boring. I have made my points, you yours.

    Let me know when your mind is open to new macroeconomic ideas.

    Until then...

    ...have a nice day.
    My mind is always open to new macro-economic ideas.. problem is that "sovereign debt problem" is not new, it is old and when it is combined with kitchen table economics based on ignorance.. then you have a problem

    Person with debt vs GDP of 300+% .. not a problem!
    Country with debt vs GDP of 100%... major problem!

    Explain to me why the first is not a problem.. but the second is?
    PeteEU

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by PeteEU View Post
    My mind is always open to new macro-economic ideas.. problem is that "sovereign debt problem" is not new, it is old and when it is combined with kitchen table economics based on ignorance.. then you have a problem

    Person with debt vs GDP of 300+% .. not a problem!
    Country with debt vs GDP of 100%... major problem!

    Explain to me why the first is not a problem.. but the second is?
    No idea what you are talking about, nor do I much care.

    You said the fact that Japan's debt is primarily held by Japanese makes it less of a problem then if foreigners hold the debt,
    I disagreed and explained why.
    You disagree (what a shock).
    So what?
    You won't change your mind and I won't change mine (on this).

    Further discussion is thus pointless.
    And boring as well.
    You are the one that seems slightly obsessed and refuses to let it go.

    Have you nothing better to do?
    I know I do.


    Have a nice day.
    Last edited by DA60; 09-03-12 at 01:06 PM.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by Lord Tammerlain View Post
    In Japan's case it is not social services that is the cause, but excessive infrustructure spending on projects that are unneeded and wasteful.
    Interesting observation. Seems like exactly the course Obama wants to follow!

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Where has all the money gone? whose pockets is it in? Is somebody hiding it in a buried sock? Are the Bildenbergs getting poorer?

    Are the poor hoarding it in swiss bank accounts? So many questions and no answers and no you can't audit my piggy bank.

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by DA60 View Post
    No idea what you are talking about.

    Now please ask me if I have enough respect for your macroeconomic ideas to care? Please.

    Have a nice day.
    So you are not one of those kitchen table economic theorists that are so popular these days? Your views certainly show that you at least have sympathies with them.....

    Point is.. a person.. you, who owns a home and has a mortgage has far more in debt than he/she has in yearly income. The average for many is 500% debt vs the yearly income. And that is not a problem, despite you can loose your whole income if you loose your job.

    Now take a country, who has tax income all the time.. unless the country totally falls apart like Somalia. But here when suddenly the debt ratio hits 70% or 100% or in Japan's case 200%+, then it is a massive problem and the world is falling apart and we must cut everything to the bone and let people die on the streets, because.. we cant afford it any more attitude.

    There is no doubt that Japan needs structural reforms to fix their deficit and raise their tax income. There is no doubt that much of the debt is owed to its own people, so over time things like inflation will eat away at that debt, just as it does for everyone else. And there is no doubt that fixing the problems all our countries have, will take time once the politicians admit there is a problem and want to fix it. Problem is in Japan.. the politicians have not reached that point just yet. Same problem in the US and some European countries.

    Now once that point has been reached, and the politicians have accepted that things need to change.. and they start doing it.. it will still take many many years to fix. My own country of Denmark was on the verge of bankruptcy in the late 1970s.. it was the Greece of its time. But the politicians accepted they had created a problem and started to fix it. It took over a decade.. hell 30 years to get rid of the external debt we had accumulated up to the late 1970s. Point is.. Denmark got time to deal with their problems, and did not gut government and send people into the poor house. Now days.. countries like Greece, Spain and so on dont get time.. and Japan only has gotten a "free pass" for now, because of its massive private sector wealth, economic and political power... but as always.. it requires that politicians accept they have a problem and stop blaming the opposition.
    PeteEU

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    Re: Japan Plans To Cut Spending, Could Run Out Of Money In A Month

    Quote Originally Posted by Dpetty View Post
    I guess your right.

    I guess i should say it works for those willing to work. It doesnt really benefit the lazy and useless. They are the ones who benefit from re-distribution arent they? Re-distribution relies on the work and success of the upper and upper-middle classes. It encourages the lower classes to hate the upper classes because of their success and it penalizes them for being so. It creates dependency to government and it takes away peoples ability to provide for themselves. It opperates on the premis that we cant lift up these people up, so we will instead pull these other people down. You talk about the wealthy making money like its some sort of scandal and you rationalize it by saying that making "some" money is ok, but the rich make way more than they deserve, so obviously they should give the rest to us, even though we have done nothing to earn or deserve it.

    So ya, i guess it depends on your definition of "works".
    i'm not promoting soaking the rich to just give money away to people who won't work. we have a lot of nation building to do right here at home, and we should reallocate tax dollars and let the marginal rates go back to 1990s levels so that we can do that. the middle and lower socioeconomic classes spend what they make because they have to. this spreads the money out locally, and more efficiently than concentrating most of it in one place. it adds liquidity, and sustains a wider economic ecosystem. and people can still get quite wealthy; in fact, more will have a chance. the problem is that, whether by design, inadvertently, or both, rungs have been removed from the ladder. increasingly, one almost has to be born into moderate wealth to even have much of a chance. i'd like to see that change. on one hand, i see a lot of crumbling infrastructure, an insufficient electrical grid, and a failing energy model that is a national security issue. on the other, i see a lot of people desperate for work. i propose that we join the two and solve some problems.

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