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Simon

Japanese aversion to foreigner or foreign investment is legendary.
Industries there have a "not invented here" syndrome and shuns anything not made by Japanese firm. Now that it outsources its industries to rest of Asia (Singapore, Indonesia, Malaysia, India, China etc) it needs to beware of falling for the same trap. In a sense it is becoming "USA-ized" that its competitors are closing in fast and it is losing edge on manufacturing and industry. A trade war with China is a very real possibility.
Finally if the financial crisis hit the roof I would guess Europe will end up with most of the windfall with Japan a close second, as experienced industrial workers seek work in these developed economies first

Dutch Schultz

Want me to kick his ass?

Dutch Auction

http://www.gold-eagle.com/editorials_08/willie091808.html

Carlos

Elaine, you are too good! It is truly difficult to grasp how blissfully ignorant these characters are. Their behavior is "willful ignorance in action".

Honestly, I am an Asian at heart, but I subscribe to the "think global, act local" mindset. What you do in this blog is to share your intellectual capital, for FREE. Anyone with an iota of intelligence and who did their homework they would realize that you accurately call it almost 95% of the time. Yet in your own country you are not appreciated.

Have you ever thought of coming to Asia? It would not be unlike our forefathers, both yours and mine, who left Europe generations ago because of small political and religious minds. You should give this some thought. Let the NIMBY's keep their erroding freedoms and wealth. Einnstein used to say, "Great spirits have always found violent opposition from mediocre minds."

Why engage mediocrity, when you can embrace change and enlightened minds?

Carli

Sorry accidentally put my formal name.

Elaine, you are too good! It is truly difficult to grasp how blissfully ignorant these characters are. Their behavior is "willful ignorance in action".

Honestly, I am an Asian at heart, but I subscribe to the "think global, act local" mindset. What you do in this blog is to share your intellectual capital, for FREE. Anyone with an iota of intelligence and who did their homework they would realize that you accurately call it almost 95% of the time. Yet in your own country you are not appreciated.

Have you ever thought of coming to Asia? It would not be unlike our forefathers, both yours and mine, who left Europe generations ago because of small political and religious minds. You should give this some thought. Let the NIMBY's keep their erroding freedoms and wealth. Einnstein used to say, "Great spirits have always found violent opposition from mediocre minds."

Why engage mediocrity, when you can embrace change and enlightened minds?

Simon

Japanese would dearly love to have the USA stuck in a recession (not depression) mode where USA is not falling into chaos but not growing in prosperity either.
This way it will be able to grow in a number of industries previously restricted due to historical´╝î WWII reasons.
Off topic did you notice the Japanese new games console, it is named Wii and being sold to US in millions... Dry humour from the Nintendo?

Elaine Meinel Supkis

Japan simply wants to keep extending loans to us to buy their stuff. Forever.

And have us protect them for free, too.

'Investors' like Matt are why our joint economy is dying. He just wants more money... no morals at all.

WNC Observer

Say what you will about them, the Japanese government more or less recognizes what their national interest is and pursues it without very much distraction. Since we here in the US don't have a government like that, and haven't for many, many decades now, we have sort of forgotten what that actually looks like. I personally can't fault the Japanese for doing what every national government should do. It is just too bad that we here in the US are the ones who end suffering for it.

The US government is utterly dysfunctional. We are incapable of developing and selecting wise, effective statesmen and women. We are incapable of setting any national priorities or making any difficult decisions. Any decision to spend money (e.g., today's fiasco) is NOT a difficult decision; it is only decisions NOT to spend money that are really difficult -- too difficult for our government, apparently. Witness an arguement about $18B in earmarks taking up almost half of a Presidential debate, meanwhile a decision to throw away $700B is made with hardly any dissent.

No need to paint the Japanese as our enemies. As Pogo said, "We have met the enemy, and they are us."

Carli

This interview gives a good perspective of hits the economic debacle and it's effects on the capitalist system. Worth the watch.
David Roche Says Investment Banking Industry Is `Dead': Video
http://tinyurl.com/3lwu5e

ralph

Dear Elaine,
You Rule!!! This guy Matt does not understand politics,economics,and common sense. Your interpretation of Japan is 100% ACCURATE. However, the status quo will end one day. Potentially very soon. America is on its way down. No one can change that. Even Matt. Keep hammering these clowns on Seeking Alpha and anywhere else you can spread your wisdom. The world needs your prowess.

Simon

There was a coherent strategy behind this mess: use the dollar's currency reserve status and America's military might to punish those that seek economic / political parity with us, since the fall of the Soviet Union.
The downfall is the believing the illusion that wealth is created in Wall St and industries can be allowed to gather dust and outsourced to third world countries, while maintaining the plebs complacency using bubble economics.

ps Citigroup buys Wachovia
http://www.nytimes.com/2008/09/30/business/30bank.html?ref=business

It is fascinating to see the mechanisms they haved used to make the bubble possible and how it is going to unwind.

Carli

WNC Observer, that was eloquently put. I can only imagine how the American people would view the Japanese today if the tables were reversed and it was America that had been nuked by the Japanese, instead. MacArthur learnt with great difficulty the Japanese mindset. His plan to have the Emperor executed as a "war criminal" backfired when he learned that it would cause every man woman and Japanese child, ALL Japanese to commit seppuku. The Halocaust would have been a footnote in history by comparison.

Japanese nationalism is a complete opposite of American style nationalism. Japan is almost a pure society. When they refer to themselves they use the figure of speech, Nihonjinron or "ware-ware Nihon-jin". WE JAPANESE. Their sense individuality is always secondary to the collective whole of their society. They do have corruption among themselves, but allowing themselves to be corrupted or lobbied by a foreign national, country of organization is taboo. That would be tantamount to subjugating their national identity.

There are cases of this of course, but few and far between. People who engage in this type of behavior have a habit of getting stabbed in public, even in the Diet, or having airplanes crash into their homes like one ex-Japanese Prime Minister found out (Lockheed scandal). They police themselves pretty good.

Quite a contrast really to the U.S. Executive and Congressional branches, who allow lobby groups to hold office in the national capital and who are engaged by foreign interests from all over the world. Case in point, Israel, the No.1 beneficiary of U.S. military and financial aid, to the great detriment of the American taxpayer. It's relative nationalism, really.

Elaine Meinel Supkis

Yes, you are all right, here. There are many facets. I do NOT blame the Japanese or Chinese for taking advantage of our own stupidity.

We have to grow up and be adults, not children demanding Santa Claus make our consumer society work. We have to take responsibility for our own lusts, desires and actions. We have to dismantle our empire that is killing us.

And we have to concede power to others, in particular, China.

calvino

It's good that you call this Matt out, but it's shovelling sand on the beach. He will be replaced by another and another. Business schools churn them out by the thousands every year. They are set out to ruin manufacturing and replace it with finance. The Japanese are letting the MBA's do their job for them, and laughing to themselves.

rockpaperscizzors

Unlike Americans with the short attention span of a nat, the Japanese neither forget nor forgive the United States for Hiroshima and Nagasaki. The after-affects are still present 63 years later. Japan can't annihilate the US via military strength. But economically, yes. Greed surpasses patriotism in the USA. The Japanese have been patient and recognized our politicians sell their souls for $$$$. Japan's stealth tunnels hidden under the guise of Globalization. Payback, the USA is nearly de-industrialized, consumed in spending on wars, and policing the world via the revolving credit of foreign lenders. Karma Collection Agency is at the door.

Elaine Meinel Supkis

Calvino, I used to take a group of children to the beach in Coney Island during the summer [I was paid by other mothers to look after their kids when my daughter was little and I wanted to be home with her, not working] I would take a big shovel and for an hour, dig sand.

Then lay down a tarp and fill it with buckets of sea water. This was our wading pool and the kids loved it.

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