... this may be what it will look like.
My buddy Rob sent me this piece on the current state of the Japanese collapse:
"The debt situation is irrecoverable," said Carl Weinberg from High Frequency Economics. "I don't see any orderly way out of this. They will not be able to fund their deficit. There will be a fiscal shutdown, a pension haircut, and bank failures that will rock the world. It is criminally negligent that rating agencies are not blowing the whistle on this."
They had a bit of a real estate crisis about 20 years ago. They decided to solve that problem with some keynesian fiscal stimulus and some quantitative easing on their currency. They then had 20 years of anemic economic growth where the emphasis was on rich pensions for their rapidly aging population. If this sounds familiar, it should. this is us in 20 years.
But maybe it will be even sooner. For instance, if Japan collapses tomorrow (an entirely believable scenario) then we're hardly in a position to brace them up are we? In fact, we're in a desperate enough circumstance to potentially be pulled over the edge along with them.
But either way, they are where we will be in 20 years under the current policies.
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