Thom Hartmann: A $10,000 challenge to Conservatives about economies in debt

[thomhartmann]

Run time: 05:46 https://www.youtube.com/watch?v=GbYUx1_UrKE   Posted on YouTube: June 28, 2011 By YouTube Member: TheBigPictureRT Views on YouTube: 69   Posted on DU: June 28, 2011 By DU Member: thomhartmann Views on DU: 724

 
Eamonn Fingleton, Former editor-Forbes and the Financial Times joins Thom. Throughout this debate on our debt - Republicans often cite what's happening on the other side of the planet - in Japan - as a warning of what could happen if we don't get out debt under control. Currently - our debt is about 95% of GDP. Japan's debt on the other hand is about 225% of GDP - far worse than ours. And Republicans claim that because of their enormous debt - Japan has suffered from a lost decade of economic activity. That the once roaring Asian economic powerhouse of the 1980s - was badly wounded by out-of-control spending and has been limping along ever since. And that sad story could strike the US if we don't immediately cut spending. But one renowned economics writer - who happens to live in Japan - disagrees - and argues that Japan is doing just fine thank you very much. And he's willing to put his money where his mouth is. That man is Eamonn Fingleton - Former editor at Forbes and the Financial Times.

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[rfranklin]

1. Goes hand in hand with other right wing myths...

about how national health care and socialism are so bad. Sweden is among the most socialist countries, yet their stock market has consistently outperformed Wall Street over the past ten years. Could it be all that nasty regulation?

[JDPriestly]

2. K&R

Excellent. If you watch recent Japanese films, you see prosperity in action.

Are their apartments very small? Yes. But they are also full of gadgets.

The Japanese live simply and work hard. Their society works extremely well.

But, I have the impression that the Japanese are almost dangerously polite. The Japanese authorities lied about Fukushima, but it seems from here that no one there had the temerity to call them on it.