HomeUploadUpload DirectHotlinkRandomAbouttheme toggle

Turning Japanese - Is the US Creating Its Own Lost Decade?

Views: 842
It wasn't that long ago that everyone in America believed that Japan would soon overtake the United States as the dominant economic force on the planet. When the Japanese stock market rallied to historic heights in late 1989 and Japanese investors even bought Rockefeller Center in New York, it all seemed like a done deal.

But then...the Nikkei Index tanked, the nation's economy collapsed, the government responded with an ever-changing mix of tax hike and tax cuts, stimulus spending on infrastructure, massive bailouts of businesses, and more. None of it worked and Japan entered what's been called its "Lost Decade," a seemingly endless period of economic stagnation.

What are the lessons for the U.S. from Japan's experience? Reason Foundation policy analyst Anthony Randazzo is the co-author of the recent study "Avoiding an American Lost Decade: Lessons from Japan's bubble and recession" and a July 2009 cover story for Reason magazine, "Turning Japanese: Japan's post-bubble policies produced a 'lost decade.' So why is President Obama emulating them?"

As Randazzo explains, both the causes of and official responses to Japan's bubble and economic slump eerily anticipate exactly what the U.S. government is doing. Worse still, the Obama administration and Congress seem dead-set against the sorts of policies—across-the-board taxes on personal and business income, reductions in long-term and unsustainable government debt, and allowing damaged firms to go bankrupt—that would help revivify the American economy.

Is America on the verge of its own lost decade? Sadly, the government seems to be doing everything it can to make that happen.

Approximately 3.30 minutes long. Produced by Dan Hayes and Nick Gillespie; graphics by Meredith Bragg.
@ReasonVidsfollow
Thumbnail for Overstock.com's Patrick Byrne On Internet Sales Taxes, Naked Short Selling & Regulatory Capture9:58
Overstock.com's Patrick Byrne On Internet Sales Taxes, Naked Short Selling & Regulatory Capture
ReasonVids
914 views
Thumbnail for Lolipop dance1:16
Lolipop dance
MerkinMuffly
9939 views
Thumbnail for How can she slap!!! (longer version with English subtitles)2:14
How can she slap!!! (longer version with English subtitles)
AOU
3067 views
Thumbnail for Out Of Shadows Documentary1:17:37
Out Of Shadows Documentary
AOU
1562 views
Thumbnail for Reality TV auditions ... nigger style2:20
Reality TV auditions ... nigger style
bestofvoatxyz
769 views
Thumbnail for dinosaur1:10
dinosaur
christianfriend
305 views
Thumbnail for Corona World Order59:16
Corona World Order
corbettreport_uo
2055 views
Thumbnail for Turning My Viewers Into Anime Characters Based On Their Voice | Pipkin Pippa Ch.【Phase Connect】3:11:37
Turning My Viewers Into Anime Characters Based On Their Voice | Pipkin Pippa Ch.【Phase Connect】
invidious
502 views
Thumbnail for Karmic Customer Service0:16
Karmic Customer Service
bestofvoatxyz
815 views
Thumbnail for Reason.tv's Nanny of the Year 2009!1:21
Reason.tv's Nanny of the Year 2009!
ReasonVids
832 views
Thumbnail for Beirut  Ammonium Nitrate explosion from multiple angles.  2:37
Beirut Ammonium Nitrate explosion from multiple angles.
Gviduser
347 views
Thumbnail for Do we have more to fear from an unrestrained majority or narrow special interests?2:29
Do we have more to fear from an unrestrained majority or narrow special interests?
ReasonVids
857 views
Thumbnail for Reason's Founders Discuss "45 Years of Free Minds and Free Markets"48:48
Reason's Founders Discuss "45 Years of Free Minds and Free Markets"
ReasonVids
863 views
Thumbnail for A jew preaches about jews ruling over the rest of us.1:28
A jew preaches about jews ruling over the rest of us.
AOUisgay
432 views
Thumbnail for Obama vs. Reagan: Ray Griggs on His New Film, 'I Want Your Money'7:34
Obama vs. Reagan: Ray Griggs on His New Film, 'I Want Your Money'
ReasonVids
918 views
Thumbnail for Guns, Football, Macho Culture Didn't Kill Jovan Belcher's Girlfriend. Jovan Belcher Did.2:42
Guns, Football, Macho Culture Didn't Kill Jovan Belcher's Girlfriend. Jovan Belcher Did.
ReasonVids
847 views
Thumbnail for Justin Amash: People Want a President 'Who Is Normal, Honest, Practical, Capable.'58:19
Justin Amash: People Want a President 'Who Is Normal, Honest, Practical, Capable.'
ReasonVids
881 views
Thumbnail for Michael Moynihan's Reason Exit Interview12:07
Michael Moynihan's Reason Exit Interview
ReasonVids
732 views
Thumbnail for 5 Things Libertarians Should Be Nervous About in 20173:00
5 Things Libertarians Should Be Nervous About in 2017
ReasonVids
873 views

points

Permalink
Reply
reason.tv, lost decade, japan lost decade, recession, depression, free market economics, paul krugman, anthony randazzo, nick gillespie, reason foundation, gung ho, turning japanese
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle