politics

Monetary stimulus not enough for Japan: German finance minister

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Schaeuble said Japan knows it must find a solution to its structural problems

“If monetary policy is used instead of financial and economic changes, then we run in the wrong way,” he added, speaking through an interpreter.

Japan knowing something, and actually doing something about it, given the dysfunctional political system, are two different things. IMO, Japan running "in the wrong way" is far more likely.

0 ( +1 / -1 )

Japan needs some of that Meiji magic back again.

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Abe is screwing the Japanese econony into oblivion.

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Germany didnt suffer as much.. because, they bit the bullet in the good days. Fiscal and monetary reform, industrial, and socio-economic reform.. In the good days. German industry is highly competitive today, because they reformed their systems, and industrial principles.. on the good days.. Unlike the highly un competitive manufacturing industries of most of Europe.. aside from the High-end Manufacturing markets.. i.e. the automobile industry in Britain, or Dyson. But there lies the problem.. Dyson moved its manufacturing department to Asia, on grounds that is local supplies.. had closed down. In Japan, after 3/11/11, the Automobile industry suffered, because.. its Small scale, highly specialized suppliers had suffered.

So the lesson? There is NO point in reforming the fiscal and monetary systems of a nation, without structural reform on a scale, integrating socio-economic, political and industrial reform. Decease, Public expenditure on projects such as maintaining a 10km road to a old couples hut in the mountains (hence, compact community living).. University students should be doing internships, while in studying.. real time work experience and real time use of knowledge.. AND, companies should fail. There is no such thing as, a thing as too big to fail. It is THROUGH failure.. that we finally obtain something.

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If the Japanese don't start having more children, nothing done by anybody (gov't or private sector) will help Japan.

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