Wednesday, June 24, 2009

A History Lesson: Are We Repeating Japan's Economic Mistakes of the 1990s?

Are we heading for an American version of "the Lost Decade"? Reason argues that the policies of the Obama Administration are making this scenario more likely by repeating Japan's failed attempts to stem that recession. *Shudder.* For the record, I must sadly say that Obama -- however eloquent and polished an orator he is -- has now (to me, anyway, a self-confessed history nerd) established a depressing pattern of either not knowing history or of mangling it to suit whatever purpose he happens to have at the moment.

Back to the Japanese history lesson for our current American mess. Click here for the video. See also this and this.

You may remember that back in February 2009 I had posted about Japan's misguided government policies that brought about "the Lost Decade." Do read it.

For crying out loud, government. Cut taxes for everybody and stop spending already!

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