Forbes (June 4)
2012/ 06/ 11 by jd in Global News
“Japan’s political leaders are more obtuse and irresponsible than those found in Europe. They have completely forgotten the prescriptions of sound money and ever lower taxes that fueled their nation’s extraordinary postwar economic expansion. As if in the grips of a death wish, Japan has, since the late 1980s, repeatedly raised taxes, with new levies of all kinds imposed…. Unlike Greece, Japan still has immense assets. But the tremors foretelling an economic apocalypse are there: Its once vaunted individual savings rate, for example, has virtually disappeared.”
Tags: Economy, Europe, Greece, Japan, Politicians, Savings, Taxes
