Why no looting in Japan?

Post by bcaulf » Sat, Mar 19, 2011, 11:37 AM UTC

yummyfajitas wrote: post #175

naner wrote: post #56

http://partialobjects.com/2011/03/is-looting-our-default-rea... when you feel like you’re on your own, when you feel abandoned and the only one who you can depend on is you, then yes, you’re going to do what you have to do to survive. This has been seen around the world in many countries and cultures. The big difference in postwar modern Japan is that people are confident that help is on the way. ... Here’s where you…

Can you imagine the same happening in the US? No, we would have both tax cuts and relief efforts funded by deficit spending. That's something you can do when your debt to GDP ratio is 60% and when the world considers your bonds to be risk free. It's trickier for Japan to do that - their debt to GDP ratio is 200% already (second only to Zimbabwe). http://en.wikipedia.org/wiki/List_of_sovereign_states_by_pub...