1-1-2010.NYT story on Japanese Financial Crisis.
The jobless rate, at 5.2 percent, is at a record high, and the number of households on welfare has risen sharply. The country’s 15.7 percent poverty rate is one of the highest among industrialized nations.
America with double of Japanese unemployment and poverty rate of between 13 to seventeen percent seems to sleep through its crisis.Nation lacks a national agenda to solve its problems.
what's in this picture for US.
No national health care system.
Limited unemployment benefits.
no access to universal low cast housing.
Burdensome and bureaucratic food security system.
Fractured and unequal education system
Nation is going through crisis after crisis and our leaders are only worried about reelection and are willing to sell their and national soul for that.Only good signs are that savings rate is starting to go up .If China can save and invest 40 percent of its meager income.United states should target to save and invest 15 percent of its income for investment and retirement.
That will end the borrowing of the money from Chinese.It can also be stirred by making $10000 income from Govt saving bonds interest per year at flat tax of ten