Printing lots of money for a long time. Sound familiar?
And Japan didn’t spend a bundle on military boondoggles because Uncle foots their bill.
How many times does it have to be proven only the market can predict what the market wants?
By Simon Black
…One in five female prisoners in Japan is senior, almost all of whom have been convicted of petty crimes like shoplifting.
This is no accident. Elderly women in Japan are economically vulnerable. Half live below the poverty line. Many live by themselves and have no one to turn to for help.
So there’s a growing trend in Japan of elderly women deliberately committing petty crimes– hoping to get caught so that they’ll be sent to prison.
In prison, of course, they’re fed, clothed, housed, and even have their health care covered by the state.
It’s a pitiful, last resort form of welfare that’s likely going to become worse as Japan’s already elderly population continues to age.
It’s also a sad example of what happens when a nation’s economy goes bust after a dangerous, explosive, unsustainable boom… Read the rest of this entry »
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