|
The ratings agencies are being used in the same way as the media; to
wage an economic/guerrilla war on Japan and force the administration to
rethink their economic policies.
By Mike Whitney
February 25, 2010
Global Research
Does
anyone really believe that Toyota is being pilloried in the media for a
few highway fatalities?
Nonsense. If Congress is so worried about innocent people getting killed,
then why haven't they indicted US commander
Stanley McChrystal for blowing up
another 27 Afghan civilians
on Sunday?
But this isn't about bloodshed and it's certainly not "safety
regulations" . It's about politics--bare- knuckle Machiavellian politics.
An attack on Toyota is an attack on Japan's leading export. It is an act
of war. Here's a excerpt from the
New York Times which explains
what is really going on:
"The Japanese economy has emerged from its worst recession since
World War II,
but is still reeling. Japan must do more to lift its economy out of
deflation and boost long-term growth", S.&P. said.
The outlook change reflects our view that the Japanese governments
diminishing economic policy flexibility may lead to a downgrade unless
measures can be taken to stem fiscal and deflationary pressures, S.&P.
said. The policies of the
new
Democratic Party of Japan government point to a slower
pace of fiscal consolidation than we had previously expected.
President Barack
Obama is expected to address similar worries in the Untied
States
on Wednesday, with a call for a
freeze in spending on many domestic programs, a move he hopes will quell
perceptions that government spending is out of control. Fiscal problems
in Greece and
Ireland have also helped put the spotlight on the issue of
national debt." ("Japans High Debt Prompts Credit Rating Warning",
HIROKO TABUCHI AND BETTINA WASSENER,
NY Times)
Japan's new liberal government is fighting deflation using the
traditional methodology, by lowering interest rates and increasing
fiscal stimulus. But that's not what
Washington wants. Neoliberal
policymakers and their buddies in the right-wing think tanks want
"fiscal consolidation" which means harsh
austerity measures
that will deepen the recession, increase unemployment, and trigger a
wave of defaults and bankruptcies. This is how western corporatists and
bank tycoons keep their thumb on the developing world and thrust their
economies into perennial crisis. It's the "shock doctrine" and it's been
the IMF's modus operandi for over 20 years. Japan is being stuffed into
a fiscal straight-jacket by supporters of the
Washington
consensus whose goal is to weaken government and
accelerate the privatization of public assets and services.
The ratings agencies are being used in the same way as the media; to
wage an economic/guerrilla war on Japan and force the administration to
rethink their economic policies. (Note: There is no chance that Japan
will default on its debt because it pays its debts in its own currency
and has large
foreign exchange reserves of over $1 trillion) The attacks
on Toyota are a way of showing
Tokyo what happens to countries
that fail to obey Washington's orders.
Here's a clip from the New York Times which sums up the problem in a
nutshell:
The government of
Prime Minister Yukio Hatoyama has
"bolstered spending on social programs aimed at helping households..
....The powerful lower house of parliament approved a supplementary
budget for the fiscal year that ends in March worth ¥7.2 trillion, or
$80.3 billion, to help shore up the economy...And next year, government
spending will grow further with a record trillion-dollar budget
including ambitious welfare outlays. (New York Times)
Western elites will not tolerate economic policies which raise the
standard of living for the average working slob. "Social programs" or "welfare
outlays" are anathema to their trickle down, Voodoo capitalist orthodoxy.
What they want is upward redistribution and
class warfare. Regrettably, Prime
Minister Yukio Hatoyama has put himself at odds with US powerbrokers and
is feeling the full measure of their wrath. His
public approval ratings have
plummeted to 37 percent and are headed downward still. The message is
simple: Cross Washington and you're a goner.
URL of this article:
www.globalresearch. ca/index. php?context= va&aid=17804Global
Research,
|
Japan's Toyota
Company has been the target of US protectionist policies
Back To The Main Page 
Iran Professional Services
|
