Re: What happened to Japan?
From: Jim Blair (see_at_sig.com)
Date: 07/15/04
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Date: Thu, 15 Jul 2004 18:21:25 +0000 (UTC)
Chief <Chief@Home.com> wrote:
>Jim Blair <see@sig.com> wrote in news:cd3nk3$b75$1@news.doit.wisc.edu:
>
>> Chief <Chief@Home.com> wrote:
>> ..
>>>>
>>>
>>>IMHO, it was age and benefits.
>>
>> Hi,
>>
>> When Krugman suggested the aging population it sounded reasonable to
>> me. But since the current recovery, that cannot have been the
>> explanation: did the Japanese suddenly get younger since 2000? Has
>> there been a large influx of younger people in Japan?
>>
>
>They cut back on benefits - quite drastically. I know a guy who works
>there and he said there are many more poor old folks walking the streets
>thee days.
Hi,
You think the decade long recession in Japan ended because they cut back
on benefits to the elderly? They still HAVE a large elderly population,
they just don't take care of them anymore and so the economy is booming?
That does not sound likely to me.
>
>>>....The same thing that will hit us in 10-20
>>>years unless the idiots in congress can keep their hands off the FICA
>>>tax monies.
>>
>> ??? The money collected by the FICA cannot be "saved", it MUST be
>> spent on something. Some is used to pay out Social Security, and the
>> "surplus" must be spent on "other things". Do you think that they
>> could stockpile 100 dollar bills in a "lock box" in the treasury
>> department basement? (Al Gore and others seem to think there is such a
>> locked box ;-)
>
>True but money can be invested in instruments that increase it's worth
>and benefit all of us.
Like the US government buying private corporate stocks?
>...Use it to pay off the debt for one.
But there is a deficit. Should the Fed be paying off existing govt bonds
early (and paying an interest panality) at the same time that it is
selling new bonds?
>>
>>
>>>...Only our problem will be worst because our families are not the
>>>same as Japanese families.
>>
>> ?? How so? Explain.
>>
>Families here don't routinely take care of their parents.
Thats why we have Social Security.
>....More parents
>end up take care of their kids well into adulthood.
More in the USA or in Japan?
>
>>>...We will be up to our ears in extremely poor
>>>old people flipping bergers for heart medications.
>>>
jeb:
>>
>> The elderly in the US are the richest segment of the population. Some
>> people worry about the exact opposite: that the old geezers are and
>> will continue to own and run the country.
>>
>There was an article just in the last week in the times that said that
>has reversed and the seniors are where the fastest growth in poverty and
>debt is.
There have always been poor elderly. Them being the richest is based on
averages. And I haven't seen any evidence that this changed. Politicians
are saying that it is the "working poor" and the "Middle Class" that are
suffering--from all that outsourcing that lowers prices for the rest of us
(especially the elderly)
>Medical cost have gone up more than any investment.
Yes, but we have Medicare and such. And not more than ANY investment.
Also the market value of investments (stocks and bonds) is not as
important to the retired as the income they generate.
>...Seniors on a fixed
>income have had to weather a terrible market, low interest rate for bonds
>and higher medical costs.
People on a "fixed income" have had relatively low inflation for 20 years,
and they are not much into the stock market--or else they would not be
"fixed income".
But yes, a booming economy helps those retirees with stocks and bonds.
>...Also their grown kids haven't faired to well
>these past years and many have paid their bills while they were out of
>work or loaned them money for their grandkids college. I am a senior.
>Believe me. Next time you see some old guys at the local eatery sit and
>have a chat.
Most of the retired that I see are when I go to the Ho Chunk casino. They
seem to have enough money to play slots for hours. Some even play
blackjack.
>
>You know we used to have neighbors and neiborhoods where we all knew the
>others problems and helped when we could. Now days it's not just the
>politicians and media that's out of touch with the American people. We
>are out of touch with each other.
I agree with that. When we first moved in, we knew all of the neighbours.
My wife's bridge group all lived within walking distance.
Now I know only a few of those in the area (and still remember the houses
by the names of their first owners most of whom moved out decades ago).
Now my wife's bridge group lives all over the county.
>...Really sad and somehow my generation
>messed up this country and raised kids with so little concern for those
>around them. Damn shame. The greatest generation raised the worst
>generation. For the life of me I can not understand how we got to the low
>point we have reached.
Cheer up. The kids today are OK, just different. Purple hair and nose
rings and.... Well maybe you have a point :-(
> ,,,,,,,
>> _______________ooo___(_O O_)___ooo_______________
>> (_)
>> jim blair (jeblair@facstaff.wisc.edu) Madison Wisconsin
>> USA. This message was brought to you using biodegradable
>> binary bits, and 100% recycled bandwidth. For a good time
>> call: http://www.geocities.com/capitolhill/4834
>>
>>
>>
>
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