It’s Japan Again, Stupid

Ann Pettifor: 4th February 2009

Everyone should just calm down and get a grip. The problem is not the fiscal stimulus. It is not pork barrel politics. It is not the banks. Nor is it those parasites, the bankers. It’s not even the debt.

It’s the cost of debt. And it’s just like Japan, 1990-2009.

Read more on the Huffington Post

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4 thoughts on “It’s Japan Again, Stupid”

  1. But isn’t a lot of this debt ‘fictitious’ (or purely speculative)and unrelated to any real transactions in goods and services?

    Shouldn’t all the toxic piles of derivatives and other junk just be cancelled?

  2. Jasper Richardson

    I’m a big fan Anne Pettifor

    I trust you will be at the march for Jobs, Justice and Climate on 28 March?

    (www.jobsjusticeclimate.org.uk )

  3. Why stop with fixing the price of debt? ( i.e. interest rates) Why not just fix the price of everything?

    – From the Ravings of

    the Psychomancer

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