William Stonehill, My FG Idol

[Catoneinutica]

William Stonehill is, IMHO, one of the most interesting FGs writing about Japan, and along with Richard Katz, about the only reason to read the NBR Forum. He seems to own a business in Tokyo selling imported luxury watches, and seems to know, well, everything about everything, if the subject relates to Japan.

Here he tears Gregory Clark a new one:

[INDENT]GC writes: If new businesses do not emerge easily (other than through
Horie-style manipulation) it is for one simple reason - the chronic lack of
consumer demand, the result mainly of a cultural bias to save
excessively and then not spend those savings

WTS writes: with over 50% of the population making less than 2 million yen a
year, and the average income of Japanese now on the decline for close to 12
years straight, people have much, much less disposable income than they did
and are growing increasingly poorer. This is the reason for lack of demand,
not an unwillingness to spend money.
[/INDENT]

http://www.nbr.org/foraui/Message.aspx?LID=5&MID=32823

Yep, Japanese ARE getting poorer. The place is really looking a bit threadbare and tattered, like East Germany or Czechoslovakia in the 80s. When will the Jiminto Iron Curtain fall?

[Takechanpoo]

All of Jiminto's economic measures are for supply side. Jimito adminitration will sooner or later carry out the increase of concumption tax 5 % to 10% despite considerable decline of J-naitonal's buying power. If they really do so, J-economy absolutely fall into real deflationary spiral. The day of Japanese dancing Argentina tango is coming moment by moment.

[Greji]

All of Jiminto's economic measures are for supply side. Jimito adminitration will sooner or later carry out the increase of concumption tax 5 % to 10% despite considerable decline of J-naitonal's buying power. If they really do so, J-economy absolutely fall into real deflationary spiral. The day of Japanese dancing Argentina tango is coming moment by moment.

Should that make us happy Take? We live and work here too!

[Takechanpoo]

Should that make us happy Take? We live and work here too!

It is not until Japanese fall down to the very bottom that they really change themselve.

[Mulboyne]

William Stonehill is, IMHO, one of the most interesting FGs writing about Japan,

I like reading him too. Clark can be annoying. He has some good connections in Japan and some interesting insights but he gets too hung up on his pet "tribal theory" of Japanese behaviour. He claims that his opponents are blind to using culture differences to explain behaviour in Japan when all they actually do is point out that Clark seems reluctant to use anything except cultural explanations.

[GuyJean]

It is not until Japanese fall down to the very bottom that they really change themselve.

The US is turning Japanese. I really think so.

GJ

[amdg]

I like reading him too. Clark can be annoying. He has some good connections in Japan and some interesting insights but he gets too hung up on his pet "tribal theory" of Japanese behaviour. He claims that his opponents are blind to using culture differences to explain behaviour in Japan when all they actually do is point out that Clark seems reluctant to use anything except cultural explanations.

Clark is a mouldy old bowl of fuckslaw.

[pheyton]

The US is turning Japanese. I really think so.

GJ

Actually I think it would be "I think I'm turning American, I really think so." or "Amerika-jin ni narimasu da to omoimasu, honto ni."

You can't compare Argentina and Japan. Japan is on steady ground considering they have a strong manufacturing base and Japanese brands dominate the world. Japan's debt is also internal while a large chunk of US debt is external.

Argentina crashed because they accepted the IMF and World Bank reforms. Japan has nothing to fear in that regard.