The Japanification of the World
By Charles Hugh Smith | Of Two Minds | April 4, 2019
A recent theme in the financial media is the Japanification of Europe. Japanification refers to a set of economic and financial conditions that have come to characterize Japan’s economy over the past 28 years: persistent stagnation and deflation, a low-growth and low-inflation economy, very loose monetary policy, a central bank that is actively monetizing debt, i.e. creating currency out of thin air to buy government debt and a government which funds “bridges to nowhere” and other stimulus spending to keep the economy from crashing into outright contraction.
The parallels with Europe are obvious, but they don’t stop there: the entire world is veering into a zombified financial, economic, social and political status quo that is the core of Japanification.
While most commentators focus on the economic characteristics of Japanification, social and political stagnation are equally consequential. If we only measure economic/financial stagnation, it appears as if Japan and Europe are holding their own, i.e.maintaining the status quo via near-zero growth and near-zero interest rates.
But if we measure social and political decay, the erosion is undeniable. Here’s one example. Few Americans have access to or watch Japanese TV, so they are unaware of the emergence of the homeless as a permanent feature of urban Japan. The central state propaganda media is focused on encouraging tourism, a rare bright spot in Japan’s moribund economy, and so you won’t find much media coverage of homelessness or other systemic signs of social breakdown.
If you watch Japanese detective / police procedural dramas, however, you’ll find constant references to homeless people and homeless encampments: detectives seek witnesses to a crime in the nearby homeless encampment; a homeless man living in an abandoned warehouse is found murdered, etc.
Here’s the core dynamic of zombification / Japanification: the top 25% are doing whatever is necessary to maintain the status quo because it works well for them, but the system is failing the bottom 75%, who must be politically, socially and economically neutered so they can’t upset the apple cart.
Depending on the economy/society in question, one could argue that it’s the top 40% defending the status quo and disenfranchising the bottom 60%, or it’s the top 20% disenfranchising the bottom 80%. The exact ratio doesn’t matter; what matters is the status quo no longer works for the majority, but they are powerless to change the system because it’s controlled by the minority who benefit so greatly from it being locked in its present setting.
The other dynamic of zombification / Japanification is: past success shackles the power elites to a failed model. The greater the past glory, the stronger its hold on the national identity and the power elites.
And so the power elites do more of what’s failed in increasingly extreme doses. If lowering interest rates sparked secular growth, then the power elites will lower interest rates to zero. When that fails to move the needle, they lower rates below zero, i.e. negative interest rates.
When this too fails to move the needle, they rig statistics to make it appear that all is well. In the immortal words of Mr. Junker, when it becomes serious you have to lie, and it’s now serious all the time.
The necessity of neutering the majority politically, socially and economically manifests in two destructive ways: young people who opt out (or are frozen out) of the failed status quo do not mate and have children, do not buy houses, new cars, etc. This sets off a demographic time bomb that guarantees the implosion of the financial promises made by the self-serving status quo.
This is social depression, and once it is embedded it is essentially impossible to reverse.
Needless to say, if young people no longer have kids and no longer make enough money to buy houses, cars, etc., the economy is doomed to stagnation and decline as old people don’t spend much. That leaves the entire economy’s spending and borrowing on the top 10% who are doing splendidly. But the top 10% cannot hold up the entire economy for long. That fragility is exposed once one of the many rotten props holding up the status quo collapses.
The second option is political upheaval, i.e. populism. When the losers in the winner-take-most economies of the world (and every economy is now winner-take-most once you scrape away the PR and propaganda) have had enough, they take to the streets.
Beating them, shooting them, vilifying them and so on only hardens their resolve to bring the status quo crashing down, regardless of the damage.
Either way, the brittle status quo collapses from either political rebellion or social depression or the fragility that arises from pursuing ever more extreme measures of defending the status quo’s winners at the expense of the many losers.
Zombification / Japanification is not success; it is only the last desperate defense of a failing, brittle status quo by doing more of what’s failed. Japan has perfected the art of managing decline while maintaining the illusion that the status quo is solid and permanent.
In this, the entire global status quo is embracing Zombification / Japanification. By all the usual economic measures–growth, national debt, percentage of tax revenues devoted to interest on the debt, and so on–the status quo can continue to maintain the facade of solidity essentially forever.
Beneath the surface solidity, however, all the buffers are thinning. The great irony of zombification / Japanification is that the success of maintaining the illusions of permanence only masks the increasing fragility of the status quo; it doesn’t actually fix what’s broken or obsolete.
Share this:
- Click to share on Twitter (Opens in new window)
- Click to email this to a friend (Opens in new window)
- Click to print (Opens in new window)
- Click to share on Facebook (Opens in new window)
- More
- Click to share on Skype (Opens in new window)
- Click to share on Pocket (Opens in new window)
- Click to share on Reddit (Opens in new window)
- Click to share on Telegram (Opens in new window)
- Click to share on Pinterest (Opens in new window)
- Click to share on Tumblr (Opens in new window)
- Click to share on WhatsApp (Opens in new window)
- Click to share on LinkedIn (Opens in new window)
Related
April 14, 2019 - Posted by aletho | Economics, Timeless or most popular
1 Comment »
Leave a Reply Cancel reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Featured Video
Against the Wind – Doctors & Science Under Fire
For more videos go to the Aletho News – Video Category
or go to
Aletho News Archives – Video-Images
From the Archives
American Pravda: Our Great Purge of the 1940s
By Ron Unz • Unz Review • June 11, 2018
… When we seek to understand the past, we must be careful to avoid drawing from a narrow selection of sources, especially if one side proved politically victorious in the end and completely dominated the later production of books and other commentary. Prior to the existence of the Internet, this was an especially difficult task, often requiring a considerable amount of scholarly effort, even if only to examine the bound volumes of once popular periodicals. Yet without such diligence, we can fall into very serious error.
The Iraq War and its aftermath was certainly one of the central events in American history during the 2000s. Yet suppose some readers in the distant future had only the collected archives of The Weekly Standard, National Review, the WSJ op-ed page, and FoxNews transcripts to furnish their understanding the history of that period, perhaps along with the books written by the contributors to those outlets. I doubt that more than a small fraction of what they would read could be categorized as outright lies. But the massively skewed coverage, the distortions, exaggerations, and especially the breathtaking omissions would surely provide them with an exceptionally unrealistic view of what had actually happened during that important period.
Over the last fifteen-odd years, I’ve gradually come to believe that exactly the same is probably true of much of the American history I had always assumed that I knew. – Read full article
Aletho News Original Content
Three Mile Island, Global Warming and the CIA
By Aletho News | January 9, 2012
There appears to be something about launching bombs or missiles from afar onto cities and people that appeals to American military and political leaders. In part it has to do with a conscious desire to not risk American lives in ground combat. And in part, perhaps not entirely conscious, it has to do with not wishing to look upon the gory remains of the victims, allowing American GIs and TV viewers at home to cling to their warm fuzzy feelings about themselves, their government, and their marvelous “family values”. Washington officials are careful to distinguish between the explosives the US drops from the sky and “weapons of mass destruction” (WMD), which only the officially-designated enemies (ODE) are depraved enough to use. The US government speaks sternly of WMD, defining them as nuclear, chemical and biological in nature, and “indiscriminate” (meaning their use can’t be limited to military objectives), as opposed to the likes of American “precision” cruise missiles. This is indeed a shaky semantic leg to stand on, given the well-known extremely extensive damage to non-military targets, including numerous residences, schools and hospitals, even from American “smart” bombs, in almost all of the bombings listed below.
Moreover, Washington does not apply the term “weapons of mass destruction” to other weapons the US has regularly used, such as depleted uranium and cluster bombs, which can be, and often are, highly indiscriminate. … continue
About Aletho News’ Name
Blog Roll
Visits Since December 2009
- 4,283,180 hits
Looking for something?
Archives
Calendar
Categories
Aletho News Civil Liberties Corruption Deception Economics Environmentalism Ethnic Cleansing, Racism, Zionism Fake News False Flag Terrorism Full Spectrum Dominance Illegal Occupation Mainstream Media, Warmongering Militarism Nuclear Power Progressive Hypocrite Russophobia Science and Pseudo-Science Solidarity and Activism Subjugation - Torture Supremacism, Social Darwinism Timeless or most popular Video War Crimes Wars for IsraelTags
9/11 Afghanistan Africa AIPAC al-Qaeda Argentina Australia BBC Benjamin Netanyahu Bolivia Brazil Canada Central Intelligence Agency China CIA CNN Colombia Covid-19 Da’esh Donald Trump Egypt European Union Facebook FBI France Gaza Germany Google Hamas Hebron Hezbollah Hillary Clinton Human rights India Iran Iraq ISIS Israel Israeli settlement Japan Jerusalem John Kerry Korea Latin America Lebanon Libya Middle East National Security Agency NATO New York Times North Korea NSA Obama Pakistan Palestine Press TV Qatar Russia Sanctions against Iran Saudi Arabia Syria The Guardian Turkey Twitter UAE UK Ukraine United Nations United States USA Venezuela Washington Post West Bank Yemen ZionismRecent Comments
brianharryaustralia on Hague-based tribunal orders US… brianharryaustralia on For all its international post… roberthstiver on Hague-based tribunal orders US… SeaShell on IMPERIAL WASTE anon on Territorial dispute growing be… roberthstiver on The National-Security State… Joyce Bowen on Abandon ship! Governors scramb… Bernays and Propagan… on “Progressive” Journalism’s Leg… brianharryaustralia on Abandon ship! Governors scramb… brianharryaustralia on Hamas: Israel detention campai… brianharryaustralia on 200,000 NHS Staff Are Refusing… brianharryaustralia on Russia triples gas supplies to…
Aletho News
- The Disappearing Spy March 4, 2021
- Russia will take ‘tough measures’ against German media if Berlin impedes work of Russian journalists March 4, 2021
- Lorena Gonzales Versus Frank Wilkinson March 4, 2021
- For all its international posturing and boasting, the US can’t even take care of its citizens March 4, 2021
- IMPERIAL WASTE March 4, 2021
- Hague-based tribunal orders US to pay $37mln to Iran for breaching 1981 treaty March 4, 2021
- Territorial dispute growing between Guyana and Venezuela March 4, 2021
- The National-Security State Racket March 4, 2021
- James Cook University Walks Back Extreme Global Warming Coral Extinction Claims March 4, 2021
- Guardian ‘accidentally’ suggests Covid-like shutdowns every 2 years to meet Paris climate goals March 4, 2021
- Abandon ship! Governors scramble to end lockdowns, mask mandates March 4, 2021
- Why is Death After COVID-19 Vaccination Always Assumed to Be Coincidental? March 3, 2021
- 200,000 NHS Staff Are Refusing To Have a Jab. What Do They Know? March 3, 2021
- The Antibody Deception March 3, 2021
- Hamas: Israel detention campaigns aim to alter election results March 3, 2021
- Sweden Moves To Protect Academic Freedom After Professor Quits Covid Research Due To Harassment March 3, 2021
- Fact-check FAIL: Newsweek forced to admit Buffalo schools teaching kids to blame ‘all white people’ is true March 3, 2021
- House Republicans Propose Legislation to Allow Biden to Ban Sanctioned Foreign Leaders From Social Media March 3, 2021
OffGuardian
- Delusions of Self-Defense: Biden Bombs Syria March 4, 2021
- Do As I Say, Not As I Do March 3, 2021
- The Stats on Covid-Vaccine Injury and Death Don’t Add Up March 2, 2021
Consent Factory
- The Vaccine (Dis)Information War February 23, 2021
Richie Allen
If Americans Knew
Not A Lot Of People Know That
- Will Gummer Ban International Food? March 4, 2021
- More “Climate Change Killing Plants” Twaddle March 4, 2021
- Bermuda Hurricane Claims Don’t Stand Up To Scrutiny March 4, 2021
Sebastian Rushworth M.D.
- Amazon is censoring my book about covid! March 4, 2021
- Hydroxychloroquine for covid: Lifesaving or useless? March 4, 2021
More Links
Contact:
atheonews (at) gmail.comDisclaimer
This site is provided as a research and reference tool. Although we make every reasonable effort to ensure that the information and data provided at this site are useful, accurate, and current, we cannot guarantee that the information and data provided here will be error-free. By using this site, you assume all responsibility for and risk arising from your use of and reliance upon the contents of this site.
This site and the information available through it do not, and are not intended to constitute legal advice. Should you require legal advice, you should consult your own attorney.
Nothing within this site or linked to by this site constitutes investment advice or medical advice.
Materials accessible from or added to this site by third parties, such as comments posted, are strictly the responsibility of the third party who added such materials or made them accessible and we neither endorse nor undertake to control, monitor, edit or assume responsibility for any such third-party material.
The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.
The word “alleged” is deemed to occur before the word “fraud.” Since the rule of law still applies. To peasants, at least.
Fair Use
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more info go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
DMCA Contact
This is information for anyone that wishes to challenge our “fair use” of copyrighted material.
If you are a legal copyright holder or a designated agent for such and you believe that content residing on or accessible through our website infringes a copyright and falls outside the boundaries of “Fair Use”, please send a notice of infringement by contacting atheonews@gmail.com.
We will respond and take necessary action immediately.
If notice is given of an alleged copyright violation we will act expeditiously to remove or disable access to the material(s) in question.
All 3rd party material posted on this website is copyright the respective owners / authors. Aletho News makes no claim of copyright on such material.
A challenging read. A Japanophile (widower; wife Japanese “green-carder”), I’d like Japan to walk an independent path that prioritizes justice, peace, vitalization of suffering areas and people around the world , and rational empowerment of its amazing populacde in economic/technical spheres.
Perhaps the new Reiwa Era will spark a refreshment/renewal of “Yamato damashi” in a modern, compassionate flowering.
LikeLike