We Should Learn From Japan’s History
In the early 1990’s Japan suffered a housing bubble pop not unlike the one America just went through. And Japan suffered a subsequent recession not unlike the one we’re going through right now. In response, in order to *ahem* stimulate their economy they engaged in a massive program of public works programs.
The result? Take a look:
Massive public spending didn’t do anything to stimulate Japan’s economy. It won’t do anything to stimulate America’s economy either.
In fact, I’d be willing to argue that a lot of the expansion into American markets by Japanese companies (opening manufacturing plants here, etc.) was driven by the ramped-up taxes and regulations Japan pushed on the private sector to pay for its massive “stimulus” spending.
Now Obama and the Democrats are getting ready to push that business right back off our shores.
