{"id":1041,"date":"2009-07-28T07:14:33","date_gmt":"2009-07-28T07:14:33","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=1041"},"modified":"2009-07-28T07:14:33","modified_gmt":"2009-07-28T07:14:33","slug":"learning_from_past_history","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=1041","title":{"rendered":"Learning From Past History"},"content":{"rendered":"<p>Sunday&#8217;s <a href=\"http:\/\/www.washingtonexaminer.com\/opinion\/Repeating-the-mistakes-of-Japan_s-_Lost-Decade_-8014995.html\">Washington Examiner<\/a>&nbsp;posted an editorial about how Japan handled its last recession and what the results of those decisions were.&nbsp; In 1991 Japan&#8217;s stock marking and&nbsp;real estate&nbsp;markets collapsed.&nbsp;&nbsp; The decisions made by the Japanese government at that time made the recovery from that collapse much more complicated and resulted in a ten-year recovery period instead of a quick recovery.&nbsp; Unfortunately, we are making almost identical mistakes in the way we are dealing with our current financial crisis.&nbsp; <\/p>\n<p>The mistakes listed in the article are:<\/p>\n<ul>\n<li>A stimulus package that added to the national debt but did not stimulate the economy.<\/li>\n<li>Bad loans&#8211;our subprime mortgage brokers had great intentions&#8211;allow lower income people to own homes&#8211;but if those people can&#8217;t afford their mortgages, the loans lose their value.<\/li>\n<li>Bailouts of companies that would continually need government money to stay afloat, costing taxpayers money and thus taking money out of healthy companies.<\/li>\n<li>Increased government control of the economy, which limits the ability of the economy to respond quickly and adapt to market forces.<\/li>\n<li>Raising taxes&nbsp;(if Cap and Trade is passed, it will be impose an annual energy tax of approximately $ 2000 per person).<\/li>\n<li>Monetary policy&#8211;in slashing interest rates drastically after 911, the Federal Reserve prevented a recession at that point, but they caused a devaluation of the dollar that contributed to a drastic rise in gasoline prices and caused other problems.<\/li>\n<li>Lack of transparency&#8211;there are still serious questions about how TARP and stimulus money was spent.<\/li>\n<\/ul>\n<p>To quote George Santayana, &#8220;Those who cannot learn from history are doomed to repeat it.&#8221;&nbsp; We need to learn from Japan&#8217;s mistakes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sunday&#8217;s Washington Examiner&nbsp;posted an editorial about how Japan handled its last recession and what the results of those decisions were.&nbsp; In 1991 Japan&#8217;s stock marking and&nbsp;real estate&nbsp;markets collapsed.&nbsp;&nbsp; The decisions made by the Japanese government at that time made the &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=1041\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1041","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/1041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1041"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/1041\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}