From: CurtAdams@aol.com
Date: Thu Apr 11 2002 - 00:12:12 MDT
In a message dated 4/10/02 18:49:55, forrestb@ix.netcom.com cites:
>Japan is the world's second largest economy and it also has the world's
>largest level of public debt to the tune of 140% of GDP.
One of the sad parts of this is that 12 years ago Japan had the *lowest* level
of debt amongst Western countries. IMO it just shows how off the beam
Keynes was with his claim that burying money (ie any way for the gov't
to spend it) will help revive a depressed economy. Japan has spent many
trillions on stimulatory measures, dubious public works, and probably a
lot of corruption, and has nothing to show for it but crushing debt.
Wasted is wasted.
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