Word: japanned
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...eschew Japan’s example. Last October, Summers compared the downturn to our current recession in a Financial Times column. And, in his first White House press conference, Obama warned that if Washington dithered, the U.S. might suffer a “lost decade” like Japan...
...Greg Mankiw. The government could send each person in the country a check with which he could pay his neighbor to dig holes in his backyard. Unemployment would fall, but so would welfare. Consumers could buy more useful goods if government allowed them to keep their money. Unfortunately, Japan casts such a long shadow that Obama and his advisers think the economy will tank by the time consumers spend or businesses reinvest...
...someone who is expected to meet with Hillary Clinton during her first trip to Asia as U.S. Secretary of State, Japanese Prime Minister Taro Aso appears to be a host not yet ready for the party. Japan's economy continues to shrivel, the government remains gridlocked as elections loom, and public approval for Aso's administration is plunging. Even influential former Prime Minister Junichiro Koizumi is criticizing Aso's performance, though both are members of the ruling Liberal Democratic Party...
...fell an unprecedented 13.9%, while the unemployment rate shot up to 4.4% in December, reaching levels not seen since World War II. "There is no doubt that the economy is in its worst state in the postwar period," said Economic and Fiscal Policy Minister Kaoru Yosano. (See pictures of Japan and the world...
...jumpstart economic growth, including a controversial proposal to hand out $21.7 billion to the Japanese public, many think Aso hasn't done enough. "We have a once-in-a-hundred-year crisis and the policy response is not even average," says Jesper Koll, president and CEO of Tantallon Research Japan. "The people running the show are not politicians, not independent or accountable political leaders. The policies are run by bureaucrats...