The idle ramblings of a Jack of some trades, Master of none

Dec 1, 2010

Sumo Despondent

Met recently with a noticeably despondent Japanese economist. And boy, did he have something to be despondent about. Moribund politicos, he moaned. Far too populist! No new ideas on how to rebalance the Japanese economy. Massive corporate tax evasion. The yen will enter a long fall like a sumo wrestler. There will be a massive transfer of wealth from the younger generation to the soon-to-retire babyboomers. Their pensions are underfunded. There are no growth prospects. The corporate landscape is filled with zombies. Japanese equities are not going to improve in this lifetime. And who will want Japanese bonds at less than 1% yield? Damnation, death and despair is all that awaits us.

Then he looked at me hopefully and said, 'Maybe India will show the way.'

Right, India. This is your chance. I have spoken.


km said...

Dear Japan:

Please export your bizarre TV shows to India and solve ALL your problems in one swell foop.

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