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While there are "dark warnings" that the U.S. is becoming like Japan, what's wrong with that?...

While there are "dark warnings" that the U.S. is becoming like Japan, what's wrong with that? asks Zachary Karabell on Reuters. Sure, Japan has "chronic deflation, a sluggish job market, an aging population, an insular culture and (stagnant) growth." But its citizens are are prosperous and healthy, and have a high life expectancy, "democratic government is orderly and ordered," and the country has an efficient bureaucracy.
Comments (10)
  • kmi
    , contributor
    Comments (3984) | Send Message
     
    What's wrong is that our economy may enter a deflationary cycle like Japan's but in the end, we aren't Japan.

     

    Our healthcare, tax collection, monetary policy, defense budget, energy profile, natural resources, population density are very different and the end result of entering into a Japanese style malaise may not have us end up in Japan's shoes.
    24 Feb 2013, 08:46 AM Reply Like
  • Yokyok
    , contributor
    Comments (325) | Send Message
     
    we could however move towards the Japanese healthcare model which would likely save trillions.
    24 Feb 2013, 01:03 PM Reply Like
  • Bret Jensen
    , contributor
    Comments (9837) | Send Message
     
    Ignores the fact this will not be able to go on given Japan's debt to GDP is now over 235%........trees do not grow to the sky.
    24 Feb 2013, 09:03 AM Reply Like
  • divinecomedy
    , contributor
    Comments (466) | Send Message
     
    I wouldn't call Japan's suicide rate as something the US should emulate. The last few years after 2008, one can also notice the increasing number of homeless people in big cities such as Tokyo. I don't know about efficient bureaucracy, but Japan's politicians are known for their associations with the Yakuza. Just replace the later with Goldman Sachs carrying Samurai swords and the two countries are probably equal in that respect.

     

    If there's one specific reason why the US will never become Japan though, it's that the former has no concept of "wa". But then again, who else does.
    24 Feb 2013, 09:32 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8163) | Send Message
     
    The Japanese are savers who have a strong remembrance of nuclear war and industrial devastation.

     

    Americans are spenders who have a strong remembrance of reality shows.

     

    A marathon runner can afford to smoke a cigarette and eat a huge pizza.

     

    An obese junk food addict with a weak heart can't afford to do the same.

     

    Guess which person Japan is and guess which person America is...
    24 Feb 2013, 09:45 AM Reply Like
  • Viper740
    , contributor
    Comments (126) | Send Message
     
    I'm afraid this is simply not true:

     

    Japanese are not longer net savers, they are net spenders, as 1) The younger generation no longer saves, and 2) The older generation is now spending their savings to support their retirement lifestyle.

     

    The current Japanese generation has no remembrance of World War 2. In fact, the number of people who take pacifism to irrational levels is astonishing. I say this as someone who lives in Tokyo and speaks Japanese.

     

    As for TV shows, I assure you Japanese TV shows are significantly worse than American TV shows, by a large margin. Most Japanese TV is unwatchably horrible.

     

    Smoking: Japan has a much higher rate of smoking than the US. About 50% of men and 15% of women, for a total of 1/3 of the whole population.

     

    In summary, almost all of your points are wrong.
    25 Feb 2013, 03:19 AM Reply Like
  • Viper740
    , contributor
    Comments (126) | Send Message
     
    I'm afraid this is no longer true. The Japanese savings rate is now negative, and the current Japanese generation has no remembrance of war whatsoever. In fact, many are pacifists to irrational extremes. I live in Tokyo and speak Japanese, so I see this stuff all the time.

     

    Also, the smoking rate in Japan is significantly higher than the US, so you're wrong on that point also. I can tell you have little experience with actual Japan.
    25 Feb 2013, 05:14 AM Reply Like
  • Hendershott
    , contributor
    Comments (1498) | Send Message
     
    Ron, the game doesn't end until the consumers run out of resources.
    24 Feb 2013, 11:49 AM Reply Like
  • Archman Investor
    , contributor
    Comments (2353) | Send Message
     
    "that the U.S. is becoming like Japan, what's wrong with that? asks Zachary Karabell on Reuters. Sure, Japan has "chronic deflation, a sluggish job market, an aging population, an insular culture and (stagnant) growth." But its citizens are are prosperous and healthy, and have a high life expectancy,"

     

    Ah yes, Zachary Krabell another troll faced CNBC salesman who just happens to live above the other 99% of all Americans making his phony proclamations about the US and its citizens. Why the news outlets give this man a moment of their time is beyond me.

     

    Facts from the Economic Policy Institute:

     

    *1/3 of all Americans have no retirement savings.
    *50% of all Americans do not even have a bank account with $2000 in savings.
    *50 million on food stamps and rising.
    *More Americans in SS disability income as their only means for survival.

     

    Prosperous Mr. Karabell? More like ridiculous.

     

    Healthy? We are approaching 75% of all Americans either overweight or obese. Fact: Your chances of disease and early death exponentially increase when you are overweight or most certainly when you are obese.

     

    Feel free Mr. Karabell to stroll around the country with all the little people and see if they share your phony assessment.
    24 Feb 2013, 03:33 PM Reply Like
  • RJKRJK
    , contributor
    Comments (125) | Send Message
     
    If Mr.Karabell would step away from his privileged life for just a second and actually look at what his delusion of "prosperous" really means he might have as different opinion. As for "a high life expectancy" being a good thing, if making the Kool Aid last as long as possible is Mr. Karabell's idea of perfection he can have all of mine. I prefer self sufficiency.
    24 Feb 2013, 04:05 PM Reply Like
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