Tuesday, December 16, 2008
This is just a quick link to follow -- an "aside." These are links to interesting things that, for one reason or another, I didn't place into a full posting. Click the link to visit the full article. Go to the blog index for a regular listing of posts.
WSJ: Barack Obama-san - '...In the Age of Obama, we seem fated to re-explain these eternal lessons. So for today we thought we'd recount the history of the last major country that tried to spend its way to "stimulus" --- Japan during its "lost decade" of the 1990s. In 1992, Japanese Prime Minister Kiichi Miyazawa faced falling property prices and a stock market that had sunk 60% in three years. Mr. Miyazawa's Liberal Democratic Party won re-election promising that Japan would spend its way to becoming a "lifestyle superpower." The country embarked on a great Keynesian experiment...'
