The answer would seem to be: Hail Yeah!
From the AP: “Japanese Finance Minister Shoichi Nakagawa’s resigned Tuesday after a seemingly drunken performance at a recent G-7 summit in Rome. Video footage of his final press conference shows the 55-year-old confused, drowsy and slurring his speech.”
Love the yawn at about the 1:40 mark.
Obama thinks so. And one economist is arguing that Japan’s experience proves it. From my Recessionomics column this week:
Let’s see what Richard C. Koo, the author of The Holy Grail of Macroeconomics: Lessons from Japan’s Great Recession and chief economist for the Nomura Research Institute in Tokyo, has to say about such things. (OK, yes, the Taiwanese national is also a U.S. citizen who has done quite a bit of work here in the states and was with the Federal Reserve Bank of New York, but still …)
Koo’s book examines how Japan fixed its economy in the 1990s, when its condition was similar to what the rest of the world is experiencing today. His solution, as boiled down by a writer for Canada’s The Globe and Mail: “Spend, spend big, spend till it hurts and when you are tired of spending, spend some more.”
Read the rest here.
The President-Elect put a modern-day spin on the old radio address to the nation by becoming the first President (or soon-to-be President) to post their radio address straight to YouTube.
