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Krugman's Japanese Legacy: Record Households On Welfare, Corporate Bankruptcies Soar, Majority Of Households Worse Off
A little over two years into Abenomics, and two months after learning that one of Abe's economic advisors is none other than Paul Krugman, here is the progress report for what little is left of Japan's economy:
1. The number of households in Japan on welfare hit a record high in October, renewing the record for a 6th straight month. From NHK: Officials at the Welfare Ministry say households receiving welfare benefits climbed by nearly 3,300 from the previous month to about 1.61 million.
That's the highest number since the government began compiling records in 1951.
Households on welfare with people aged 65 or older rose by nearly 2,500 to about 761,000. That accounted for 47 percent of the total.
2. 51.1% of Japanese households said they’re worse off compared with year earlier, the most since December 2011, according to Bank of Japan quarterly survey released today in Tokyo.
Why? 71.1% of those who said their livelihoods have deteriorated cited rising prices as a reason. Thanks Abe, and thanks Abe for crushing the economic conditions diffusion index which dropped to -32.9, the lowest since Dec. 2012. Precisely when Abe took power.
3. Corporate bankruptcies linked to weak yen rose to a record 345 in 2014 from 130 a year earlier, according to a Teikoku Databank report. Weak yen-linked bankruptcies in Dec. totaled 44, the most on monthly basis since survey started in Jan. 2013.
* * *
In short, one has to be go full-Krugman at this point to conclude that what a Krugman-advised Japan has achieved is anything but utter, abysmal failure, and is on its way to a complete currency devaluation, hyperinflation, economic (and demographic) collapse, and the inevitable outcome: a failed Keynesian state. The good news: what few (irradiated) Japanese are left alive, will have an all time high Nikkei to enjoy, however they will be limited to how many shares they can sell based on the inventory of available wheelbarrows to cart their stock sale proceeds from point A to point B.
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If my kid ever wins the Nobel prize in Economics I will consider him a failure.
The Nobel peace prize is also somewhat suspect these days...
It would be satisfying if each medal was secretly made of Nobel's perfect invention, dyna-mite.
There is no Nobel prize in economics!
Correct... Instead, the Economics prize is awarded by the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel.[12][13] It was first awarded in 1969 to the Dutch and Norwegian economists Jan Tinbergen and Ragnar Frisch, "for having developed and applied dynamic models for the analysis of economic processes."[11][14][15]
This way, Alfred Nobel will not have to roll around in his grave.
I'd say that prize and its meaning goes perfectly with our orwellian world. The nobel peace prize goes to one of the worlds biggest modern day war mongers. The nobel prize for economics goes to a man whose life work has been to get governemnts to spend themselves into oblivion, central bankers to print without limit, and have policies imposed worldwide that absolutely decimate the middle class and poor while benefiting a tiny segment of the population.
I just realize that WITCHES keep cats as familiars...
I don't know about witches, but that picture shows Krugman has a nice pussy.
The cat is pretty cute too.
I thought fart-loving pranksters put a Home Depot bucket of thermite on his grave and the resulting mass burned for 13 days, down to his expensive concrete vault.
That poor fucking cat krugman is holding...
How does this clueless dicktard keep getting press?
When will Asians learn that Jews are deranged and incorporating their ideas into your society amounts to drinking poison?
Cases in point:Marxism, Freudism, now Krugmanism. LOL.
You forgot Mises, Rothbard and Friedman
Why the downvotes? Let's add Spinoza, Rand and Einstein.
You can add, multiculturalism, socialism, feminism, genderism, progressivism.
... we must not lose faith in humanity ... humanity is like the sea; if some gallons of the sea became polluted, it’s because the Nobel piss-prized wiener bathed and pissed in it ...
The billions of gallons of irradiated Fuku water flowing into the ocean will surely kill all the Krugman toxins. See, there is an upside to nuke energy.
Krugman, for the disaster of Biblical Proportions he has bestowed upon Johnnie Lunchbox extending all the way to and through the mitigation of natural rights as a consequence of his statist sponsored poverty and discontent, should be publicly tortured to death as an example of sophist, Godless falsehoods.
Krugman: That streak that is left on the back of the bowl that remains no matter how many times you flush.
pods
He's also the streak that remains in the back of your boxers no matter how many times you wiped, the streak that is so gnarly and gross your wife throws away your underwear because she refuses to wash it.
that is still a pretty great dr evil-ish picture of him though. gave me a chuckle
or tossed in a homemade foundry, at the very least
Krugman? He was so great with Tony Randarr
WB7, you gotta take that picture of him and that cat and do a Dr Evil motif. Come on...
Hey Beavis, I like, say stuff and people listen. Huh huh
Dumbasses.
Keynes would be so proud, Japan has reached socio-economic perfection...
10 things the media won’t be talking about after the Paris terror attack
WTF News put the Charlie Hebdo ISIS cartoon in the site header… Because…
Dude, this is the second article in which I've read this off topic link spamming. Why don't you wait for the Tylers to post another article about the Charlie Hebdo massacre? Just be patient, that article will be back, just like the ebola ones.
Fuck your stupid blog and twitter posts. assmaggott.
Hopefully they can teach Krugman the right way to commit seppuku. Protip Paulie: you get bonus points for slitting your throat after you've cut your belly.
And extra bonus points if 1) your corpse ends up in a bathtub, and 2) the knife is nowhere to be found...
Krugtard's only answer is moar, moar, moar.
Ha, great minds...
https://www.youtube.com/watch?v=RlJGrIyt-X8
How do you like it?
Andrea True Connection
Just print MOAR and shut up.
And nod too.
I need to know you approve after just telling you to shut up.
Now here is book on sign language I want you to bone up on. Do NOT speak to me to show you have read and understood every word.
DO NOT SAY OKAY! (nodding in approval.)
That cat you keep petting reminds me of....
Princes of the Yen
Here: https://www.youtube.com/watch?v=p5Ac7ap_MAY
In the thumbnail photo for the preview link, he looks like an aged Nigel Tufnel from Spinal Tap.
"...but these go to eleven..."
Just thought I'd point that out.
Good Deflation
In a vacuum, nothing appears. That’s how you initiate the fulcrum. You are building a motor, which appears to be many motors, which are not, with inverted stacks on either side, creating a stack in a double-sided mirror. A capacitor is just an inverted inductor, and the resistor is going along for the ride, as a switch.
Empire mathematicians define themselves, with derivatives and integrals on either side, as a derivative tool. Any replicant can do the math, once all the work is done. It’s like having a baby. No man can do it, but a woman’s body does it naturally, if she doesn’t allow all those empire LRC apparitions create unintended capacity for the path of least resistance. Given a choice between my wife, their current boss, same as the old boss and the new boss, and me, the vast majority will choose their current boss, take advantage of my wife, and hunt me down.
The empire is nothing more than a collector of habits, in its own time. Making that gate, to complete the circuit is a matter of timing between the gears, waves. The empire is just a stupid machine, a reference voltage, run by people who chose stupid, which they have every right granted by G to do. The Bank controls currency, making all derivative markets extortion based, surprise.
The empire maximizes rent to wages. If you increase the minimum wage, what do you expect to happen to rent, for property owners represented by Republicans and Democrats? If you look for a job based upon credit-based income, what do you expect to happen to rent? If you follow the herd and increase commodity volatility with Bank supplied margin leverage, what do you expect to happen to rent? If you have a G guarantee, what do you expect to happen to rent? If you have a G guaranteed inside track on an IPO that will have a G guarantee on downstream IPOs, what do you expect to happen to rent? Blah, blah, blah.
The empire is a game of last-man-standing, in a game of last-herd-standing, in which automation replaces human beings, by majority vote, its behavior, to hunt down the 1%, which is only 1% inside the empire, because it’s being hunted down. If bankers were the 1%, or any other easily identifiable group, they would already be in jail.
The majority votes for fascism, the path of least resistance, natural resource boom and bust, every time, first in spirit, and then in intellect and then in body, politic, but think whatever you like. Nutrition, which depends upon the individual, creates and eliminates the noise. You want the empire to see you 10% of the time, and create time with the other 90%. What is the cost of nutrition to the people you want having babies?
Set wage to rent accordingly.
The Fed is only powerful in its own mind, the mind of its gatekeepers, and in the mind of its followers, the global majority, as expressed by demand for UST printing, in master-slave relationships. Program the electricity itself, heat PVT potential, implicitly.
Right now, you would be better off picking up someone off the street than taking that applicant or placing an ad, if you actually want to do some work, not that I’m suggesting you do so. Small town bias isn’t any better than Big City bias, with deferred unintended consequences, the chicken or the egg. Time is the illusion. Make of it what you want it to be; work in Zero Time.
The farmer will give my wife a side of beef, but otherwise send it across the planet to an executive board, an executive director and an operations manager, managing economic slaves, to maximize make-work price. Life is always and everywhere a test of intent. Efficiently increasing speed to nowhere only gets you an A at Empire University.
Inside the empire, I happen to like elevators, for obvious reasons, but my janitors, who happen to like being janitors, fix my elevators far more often than I do, in their daily activity. Many other mechanics like to make a contact error filling a buffer out to be rocket science, so they can pull out their computer and stylus, pretending to be rocket scientists, and call an adjuster, who orders a mod, when the arbitrary system can no longer reinitiate. You get what you pay for, with wages to rent. The majority prefers make-work, rent to wages.
"Krugman's Japanese Legacy: Record Households On Welfare, Corporate Bankruptcies Soar, Majority Of Households Worse Off"
Can Krugman get a second Nobel Prize for this?
Only if we're under a "Republican" prez that the committee believes it needs to try to publicly humiliate.
It's called the Cloward-Piven Prize, for fostering the arrival of glorious tyranny via centrally planned societal disintegration to the point of collapse and revolution.
It is all just so bizarre. And oil negative now near a 5 year low and the DOW is up 300 points. JCP to close another 40 stores. Coca Cola firing workers. COKE! Welcome to the Insane Asylum of these great United States of Amerika.
They haven't been selling as much Coca-Cola lately. More and more people are drinking Kool-Aid.
When will Japan learn that America is not its friend? Nuclear power, Plaza Accord, 70 years occupation, Krugman in the late 90s and 25 years later, among many others. It is difficult to find a policy or act that American's have pushed on Japan that is long-term beneficial.
Japan just like the Southern United States is occupid territory. They don't really have a choice in the matter.
They sell a lot of Kawanissasukihonyota's in the USA.
.
Krugman's legacy is that he got a permanent gig at Princeton. A lucrative job at the NY Times. Various lecture and consultant fees.
Liberals took a small petty little man and made him appear large and powerful. That's all he ever wanted was adulation.. oh and as much money as he could rake in.
Another reason not to send your kids to college...at least not in the US.
Someone in Japan should introduce Krugman to the ancient art of Seppuku
Yea, but it's different in amerika. stocks always up.
BTFATH
investing has never been so easy!
I can not believe someone has not taken him out and I don't mean to lunch. Then again he's just become a useful rube for the ruling elite.
Everyone assumes that there is a solution to every problem: also that that solution will be benign in nature.
If you know anything about math, you know that some math problems are not solvable with current data. Our money has become a math problem. It seems the solutions are all big numbers, which brings in the problem with big numbers.
More is less and less and less and less ……..
Eventually the solution becomes the problem which is unsolvable within itself.
Unless there is a God Particle somewhere in the formula, I don’t see fiat fission visiting our shores anytime soon.
So Mr.Krugman, what's your plan B? Everyone has a plan B. We at ZH would love to hear yours.
A centillion-yen coin, of course!
I wish his mamma had some "Plan B™!" -Japan
wait aminute. i be confused. the weak yen was suppose to be good for japan and the weak ruble was suppose to be bad for russia.
japan will get a big break on its oil bill that will repair the current account deficit for a time, giving more room for collapse. that is what is prescribed, right?
russia has a solid balance sheet and little external need that doesn't have any effect on deal making for usa made goods of some sorts that i know of and is loaded with dollars and gold....and best of all, yuan.
besides, by collapsing standards, the euro and pound and all the rest are crashing into a strong dollar/strong yuan. the new yuan has been unleashed upon the world. the chiniese are investing in everything everywhere. the chinese always liked a good deal. their weakness is they can't resist. lol. cheap oil to cheap europeans to cheap americans. they love capitalism. they invented it.
that's about the size of it.
nice one.
some folked got krugmaned.
He thinks holding Whiskers McCatty makes him seem like a Bond villan, comes across like Dr. Evil.
"If only they had listened to me and printed moar."
-Krugs
Krugman will claim to have no responsibility.
The Japanese recovery was not as planned because the BOJ did not supply as much QE as he recommended.
Krugman was right, they just didn't go far enough with it. Half measures don't work in douche-anomics
Abenomics just hasn't worked - on so many levels. The world is in the grips of global deflation and Japan is leading the way down...
http://www.globaldeflationnews.com/abenomics-from-faith-to-failurethe-la...
http://www.globaldeflationnews.com/abenomics-failing-to-liberate-japan-f...
Krugman will never admit he is wrong.
He will declare that Abe didn't do enough.
Zero Hedge @ Krugashima.......bitchez
Phfft. You don't get it. Krugman is right - Japan just hasn't done ENOUGH yet...
It's their own fault - they haven't been printing hard enough.
Kyle Bass was right about Japan.One huge black swan coming.Print,print,print....
Whilst it is clear that economists are not mathematicians (and probably not numerate), it can surely be assumed that they did some arithmetic to figure out how much money it would take in their quasi-Keynsian solutions. If they did, can we see them?
If they didn't, just show us a picture of some puppies.
" 71.1% of those who said their livelihoods have deteriorated cited rising prices as a reason."
Wait.... WHAT?!?!? Rising prices?
I thought Japan was caught in the grips of a multi-generational DEFLATION? Didn't anyone explain the popular narrative to the survey respondents BEFORE they went off the reservation and answered the question truthfully?
Would a SWAT raid on his residence with a stun grenade killing his cat and civil asset forfeiture of everything he owns be a good start back in the right direction?
Aw, cmon, it's too early to tell if printing money like toilet paper is having any positive effect, isn't it?