Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ
09 April 2018 | Pago Pago, American Samoa
10 March 2018 | Pago Pago, American Samoa
10 March 2018 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
22 August 2017 | Pago Pago, American Samoa
09 August 2017 | Pago Pago, American Samoa

Misconceptions About Japan

05 July 2016 | Pago Pago, American Samoa
Kimball Corson
"Japan is in such a deep hole. Their bigger and bigger stimulus efforts are producing less and less economic effect. I believe that Japan is example # 1 of why out of control public debt does matter." A blogger

Japan is not in a deep hole from debt. This is nonsense for several reasons and wrong at several levels. Japan's problem is not high or unsustainable public debt, much of which is held by the government itself. Its problems are a shrinking and rapidly aging population, with many in retirement requiring support. Working age Japanese are very productive.

This is more public debt nonsense, by people who pay attention only to surface financial issues without understanding real economics or demographic issues. First, most of Japanese debt -- which according to deficit hawks and those spooked by high public debt should have long ago precipitated a huge financial crash -- is held by the Bank of Japan and the Japanese government itself by various agencies and departments.

Second Japan's debt is well managed and not at all out of control.

Third, Japan's debt could all be converted to redeemable stock in Japan, Inc, paying dividends and Japan's debt would totally disappear and debt worry warts would have nothing to talk about.

Fourth, Japan's real problem is the age distribution of its population. Japan's economy is not under performing - its population is getting too old and it is not growing. The Japanese population is shrinking and aging fast. There are now 7.7 million fewer people of working age than there were just 10 years ago.

Shrinking population is one problem which means after a while there are fewer of working age. And an aging population is another which leads to a higher percentage of non-working retired people in the current population. Japan has both problems in spades.

Those are Japan's problems, not high public debt.
Comments
Vessel Name: Altaira
Vessel Make/Model: A Fair Weather Mariner 39 is a fast (PHRF 132), heavily ballasted (43%), high-aspect (6:1), stiff, comfortable, offshore performance cruiser by Bob Perry that goes to wind well (30 deg w/ good headway) and is also good up and down the Beaufort scale.
Hailing Port: Lake Pleasant, AZ
Crew: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
About:
Kimball Corson: I am a 75 year old solo sailor, by choice. However, I did take on a personable, but high maintenance female kitten, now a full grown cat, named KiKiPoo when she is sweet, or KatKatPo after she has just killed something like a bird or bat. [...]
Extra:
Although I was a lawyer and practiced law with good success for thirty years, creating significant new law, I never really believed in the law, the politics of law or in the over reaching self-interest of most lawyers I met. Too much exposure to Nietzsche and other good and seriously thoughtful [...]
Altaira's Photos - Main
No items in this gallery.

Profile

Who: Kimball Corson. Text and Photos not disclaimed or that are obviously not mine are copyright (c) Kimball Corson 2004-2016
Port: Lake Pleasant, AZ