NYT Write-up on Japan Ignores Decades of Stimulus, Fails to ID Causes of Deficit
Only the New York Times could burn through 2,500 words about Japan's economy and not use the word “stimulus.” The Old Gray Lady's Martin Fackler did refer to Fed Chair Ben Bernanke's just-announced second attempt to “stimulate” economy, but dodged the central lession: The government created the Japanese people's malaise, and our government, despite Japan's experience, seems determined to do the same to us. The Times item is the first in a series, so I suppose Fackler may get around to it in subsequent reports, but it doesn't seem likely. Here are some paragraphs from Fackler's report that show how intent he and the Times were on not getting to the real root causes of Japan's nearly two-decade malaise (bolds are mine): read more
View original post here:
NYT Write-up on Japan Ignores Decades of Stimulus, Fails to ID Causes of Deficit
Posted by
on October 16, 2010. Filed under