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View Diary: The Thing About Social Security (178 comments)

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  •  Well, Japan's been in a decades-long economic (1+ / 0-)
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    Roger Fox

    stagnation. But my understanding is that its situation isn't really comparable to ours. They don't have a powerful sovereign currency like ours, don't have unlimited borrowing power or the ability to print money, they're tapped out on stimulus spending, and they're culturally very economically conservative. We don't have such limitations, and are one of the most dynamic and risk-taking societies in history. We're going to get out of this, and have a vibrant economy in less than 5 years, at most 10. We just need a bit more time, and to kill this GOP zombie that just won't die.

    "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

    by kovie on Sun Dec 23, 2012 at 08:48:15 PM PST

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    •  IIRC Japan (0+ / 0-)

      is not in a liquidity trap as Krugman talks about. Which means jobs stim is the only way out.

      FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Mon Dec 24, 2012 at 05:54:44 PM PST

      [ Parent ]

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