[thedugal]

I get tired of hearing about Japan's deflation being anything that any other country would have to worry about. Deflation is a symptom. The real problem is nationwide socialist corruption. In the 80's it was perfectly normal for a Japanese bank to create a child company and then loan the child company money for real estate which was overvalued anywhere from 10 to 1000 times with 0 intention of paying it back. With the exception of a few scapegoats who were given slap on the wrist sentences, the bandits are still in power. It's theft pure and simple. Estimates of the cost of these corrupt schemes is between 400 billion and 2 trillion US$. It makes Enron look like a petty pickpocket. Granted Americans can be docile (2 terms of Clinton), but if that crap went on in the U.S. there would have been a revolution. Japanese sheeple are like American sheeple in deep comma.

[A. Pole]

I get tired of hearing about Japan's deflation being anything that any other country would have to worry about. Deflation is a symptom. The real problem is nationwide socialist corruption. In the 80's it was perfectly normal for a Japanese bank to create a child company and then loan the child company money for real estate which was overvalued anywhere from 10 to 1000 times with 0 intention of paying it back.

This is nonsense. I lived in a socialist country for many years and I assure you that there was no problem with deflation (or even with the inflation). The main problem were the shortages of non-basic goods and the corruption meant better access to them. For example if your friends were in the Party committee you could get subsidized appartment in a year instead of waiting five years or more. You paid the bribe and you could purchase the car in a few monts instead of waiting a couple of years etc ...

The cases you give are the examples of capitalist corruption. EVERY system is corruptible so do not put blame on socialism for all ills.