We’re not Japan. In America, the bet is still that we will somehow find ways to get people spending and investing again.
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Robert E Hall, a professor of economics at Stanford. Many economists remain confident that the United States will avoid the stagnation of Japan, largely because of the greater responsiveness of the American political system and Americans’ greater tolerance for capitalism’s creative destruction. (New York Times)
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TheRat
America's tolerance was seen in.......what the bailouts of AIG, Ford, Citibank, ALL BANKS.....which turned out.....to actually work. The car companies have paid back the lot, or are paying them off, as did the banks. So, Hall....you are a liar.
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kyoken
Japan, it seems, has become the negative role model for the whole world.
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