Japan is a country with a deep history of self reliance, demonstrating time and again that for a small island nation lacking in natural resources, they can not only hold their own, but come to dominate militarily, economically, and culturally. By the 1980s, Japan’s prowess in the economy had become apparent, with the manufacturing sector commanding global automotive and electronics markets, and the acquisition of large quantities of foreign assets in real estate, production facilities and government debt. Something changed catastrophically, however, in the 1990s, and Japan’s decades long boom came to an undeniable halt. At the center of it all, contends economist Richard Werner, was the Bank of Japan, and its restructuring of the economy towards a more speculative and consumer driven one via the intentional imposition of a financial crisis.
Myth of the 20th Century – Episode 195 – Princes of the Yen – The Rise and Fall of Japan, Inc.
— References —
– MITI and the Japanese Miracle, Johnson (1982)
– Trading Places – How We Allowed Japan to Take the Lead, Prescowitz (1988)
– Princes of the Yen, Werner (2001)
– Princes of the Yen, Oswald (2014)
– The Impact of Trade with Japan on U.S. Employment, Viable Opposition (2015) – https://viableopposition.blogspot.com/2015/03/the-impact-of-trade-with-japan-on-us.html
– Princes of the Yen and Central Bank Alchemy (w/ Richard Werner and Hugh Hendry), Real Vision (2020) – https://www.youtube.com/watch?v=Zaabewwvf3w
– Thoughts On The Revolution, ZMAN (2020) – https://thezman.com/wordpress/?p=21808
– Maddison Project Database, Maddison (2020) – https://www.rug.nl/ggdc/historicaldevelopment/maddison/releases/maddison-project-database-2020
If pessimism is despair, optimism is cowardice and stupidity. -Francis Parker Yockey
