Originally Posted by
stdreb27
http:///forum/post/2543680
Didn't japan try this in the early 80's? I'm going to have to look and see what simularities there are. I just don't remember it working.
George Will made a great point when he asked, "What is preditory lending?"
Yes, they did try. Their course was the same we are on -- We should have caught it earlier
They are ahead of us on the curve...
Sliding stock and real estate prices marked the end of the "bubble economy" of the late 1980s, and ushered in a decade of stagnant economic growth.
Heterodox economists tend to claim that Japan is far stronger economically than is usually appreciated. Some mainstream economists acknowledge that Japan, which unlike most Western countries has maintained its industrial base, and has vast capital reserves, currently has a strong economic outlook.
Given its heavy dependence on imported energy, Japan has aimed to diversify its sources. Since the oil shocks of the 1970s, Japan has reduced dependence on petroleum as a source of energy from more than 75% in 1973 to about 57% at present. Other important energy sources are coal, liquefied natural gas, nuclear power, and hydropower. Demand for oil is also dampened by higher government taxes on automobile engines over 2000 cc, as well as on gasoline itself, currently 54 yen per liter sold retail. Kerosene is also used extensively for home heating in portable heaters, especially farther north. Many taxi companies run their fleets on liquefied gas with tanks in the car trunks. A recent success towards greater fuel economy was the introduction of mass-produced Hybrid vehicles.