Unless We Get Our Military House In Order, This Is What We Are Facing:

[unhappycamper]

DISPIRITED Akiko Oka has worked part time in an Osaka clothing shop since her store closed in 2002. She said she lamented Japan’s loss of vigor.


Japan Goes From Dynamic to Disheartened
By MARTIN FACKLER
Published: October 16, 2010

OSAKA, Japan — Like many members of Japan’s middle class, Masato Y. enjoyed a level of affluence two decades ago that was the envy of the world. Masato, a small-business owner, bought a $500,000 condominium, vacationed in Hawaii and drove a late-model Mercedes.

~snip~

“The U.S., the U.K., Spain, Ireland, they all are going through what Japan went through a decade or so ago,” said Richard Koo, chief economist at Nomura Securities who recently wrote a book about Japan’s lessons for the world. “Millions of individuals and companies see their balance sheets going underwater, so they are using their cash to pay down debt instead of borrowing and spending.”

Just as inflation scarred a generation of Americans, deflation has left a deep imprint on the Japanese, breeding generational tensions and a culture of pessimism, fatalism and reduced expectations. While Japan remains in many ways a prosperous society, it faces an increasingly grim situation, particularly outside the relative economic vibrancy of Tokyo, and its situation provides a possible glimpse into the future for the United States and Europe, should the most dire forecasts come to pass.

The downsizing of Japan’s ambitions can be seen on the streets of Tokyo, where concrete “microhouses” have become popular among younger Japanese who cannot afford even the famously cramped housing of their parents, or lack the job security to take out a traditional multidecade loan.

These matchbox-size homes stand on plots of land barely large enough to park a sport utility vehicle, yet have three stories of closet-size bedrooms, suitcase-size closets and a tiny kitchen that properly belongs on a submarine.

[Klukie]

1. Love your Title!!!

In fact that topic should be a thread of its own..aside from the Japanese. We need to frame a new debate around the insolvency of military spending just like the other side does around social security.

[Cid_B]

2. Good Plan...

Let me know how attacking the military works out for you with the average American.

[Klukie]

4. But isn't it what most liberals think?

That there is way too much military spending? This is exactly why we lose...we tend to hide from our own beliefs!!!

[n2doc]

3. We seen determined in this country to do down the deflationary path

One small advantage over Japan- land is cheap in most places aside from on the coasts. But without a safety net abject poverty and hunger will come back to depression levels. If they haven't already. I think food stamps and Social Security are the only thing keeping about 1/3 of America from that fate.

[tblue37]

5. I did see one promising point in the article--

as a legend under a photograph: "Weddings in Osaka, Japan, now tend to be small, low-budget affairs, not the lavish celebrations once favored by couples."

I have always believed extravagant weddings to be vulgar, foolish displays, especially since most people cannot really afford the weddings they have and end up going into debt to play "Princess for a Day."