7 Responses

  1. sorry to enter a topic about Japan but I just read the Mosler-Barnard program for Italy which says
    1) the lira will go up and the Euro without Italy will go down and there is no risk of devalutation of the lira, maybe the contrary
    2) to increase gov deficit mostly by a PLG, job guarantee program in which the state hands out jobs in sector like green energy (solar panels ?) and personal services (health care, nursing homes, kindergarten ? it is not specified)
    3) tax more luxury
    4) cancel gov bonds
    5) regulate “productive activities” so that they cannot fire for instance

    No tax cuts ? An italian company that cannot triangulate among Holland, Ireland, Bahamas and Singapore like Google pays above 60% in taxes

    You hand over another 5% of GDP (if the deficit goes from 2 to 7% as you said) namely 80 billion eurosa to the politicians to hand out of jobs and not tax cuts ? You talk of “strict regulations” of important productive activities, such as what ENI, Fiat, Luxottica, Saipem, Indesit ?
    And you say that the lira will go up.

    So for italian companies taxes stay the same at crazy levels that are killing the economy, the lira goes up, get more regulations and the public sector spends money hiring public employess !! That is the picture one gests reading it and it is scary.
    We need :
    1) less governement waste,
    2) less taxes,
    3) less regulations and
    4) an exchange rate 20 or 30% lower
    almost the opposite Warren!

    1. I haven’t read it yet, but will.

      I didn’t write any of it so this will be a ‘first look’

      Govt is for public infrastructure for public purpose, a political choice.

      I presume once the ‘right size govt.’ is in place taxes are adjusted to full employment/minimum jg size?

      The exchange rate floats and therefore will correspond to full employment levels.

      There is always strict regulation such as no oil refineries in downtown Rome.

      With full employment regulation focuses on these matters as ‘creating jobs’ automatically gives way to other considerations.

      Gov bonds are anachronistic to floating fx.

      Etc. as per ‘soft currency economics’

      And from what you report and what i presume to be looks like the real price of stocks double…

  2. you should also check the re-offending rate for seniors in Japan ..
    they prefer to stay in prison tehn live on welfare ..

  3. I wonder if somebody can do this chart for Spain too? And maybe the US in high unemployment areas?

    Gets to the real cost of unemployment, in human terms, not money terms.

  4. The graph doesn’t show us the truly meaningful information, which would be what percentage of the suicides were unemployed when they took their own life. It could be the case that some of the suicides were management types that were despondent over making employees redundant.

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