Friday, November 8, 2013
Countries fighting debt with more debt
The fundamental problem in Japan is demographics. If they would let in immigrants or if they would have babies, then Japan could be very exciting. But they're not doing that, and they've got to stop spending money. Domestically, Japan is the world's largest debtor nation, and [Prime Minister Abe] says he's going to spend even more. It's astonishing to me that in the last decade or so, politicians all over the world have said the problem of having too much debt should be solved with even more debt!