Guardian reporter Justin McCurry weighs in with an interesting commentary on Japan’s role in the financial turmoil currently roiling across the globe.
Justin argues that Japan’s anemic stimululs pacakge, a product of Aso’s predecessor, is “the wrong answer to the wrong question.” Didn’t I hear the same comment during my Ph.D. defense?
The comments are interesting, and I encourage FROG readers to login and leave more comments. One commenter argues that “the fundamentals of the Japanese economy are sound” so that panic selling and other rash, short-term behavior doesn’t matter. The next commenter, in a perfect textbook example of divergent perspectives on the same data, denounces the Japanese government for gambling with taxpayer yen, and seems to say that if the government doesn’t intervene more forcefully, everyone SHOULD withdraw funds and otherwise bring about a new and improved Japanese banking crisis . . . Anyway, post your comments at the Guardian.