[Pen-l] Cautionary tales from Japan

[John Gulick <john_gulick@xxxxxxxxxxx>]

LP posted:
 
“I think they know how big it is, but they don’t want to say how big it
is. It’s so big they can’t acknowledge it,” said John H. Makin, an
economist at the American Enterprise Institute, referring to
administration officials. “The lesson from Japan in the 1990s was that
they should have stepped up and nationalized the banks.”

Gulick:
 
Wow, the times, they is a changin'. The AEI is endorsing bank nationalization.
What could be next? Socialized day care?
 
 
 
 
 
 
 
 
 
 

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