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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