Re: [Pen-l] Re: Japan's Recession in Perspective

[soula avramidis <soulaavramidis2002@xxxxxxxxx>]

there is the system of income support in Japan? It may be better than pensions, but a Japanese has to take a risk of being in a "supported' social status a sort of stigma culturally. And for GDP growth fluctuations, It's inventory adjustments  that appeared in "weak" Japanese GDP figures. That's something that may need to be done for companies to survive. In contrast look at the super-fragile banking sector in the Eurozone where there are a substantial portfolio of toxic assets.

Also I do not recall where I read this, but a sort of happiness survey during the recession did not indicate mush agony from the dire effects of the slowdown probably due to high savings and austere consumption steadying throughout. Also the Japanese unemployment rate was around 5% only.

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