Krugman's Japanese Legacy: Record Households On Welfare, Corporate Bankruptcies Soar, Majority Of Households Worse Off

This post indicates a flaw of the mercantilistic approach of the East Asian economies including Japan, Korea, and China, as discussed on many occasions.

From Zero Hedge:

1. The number of households in Japan on welfare hit a record high in October, renewing the record for a 6th straight month.
2 51.1% of Japanese households said they’re worse off compared with year earlier, the most since December 2011, according to Bank of Japan quarterly survey released today in Tokyo.
3. Corporate bankruptcies linked to weak yen rose to a record 345 in 2014 from 130 a year earlier.
 


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In short, one has to be go full-Krugman at this point to conclude that what a Krugman-advised Japan has achieved is anything but utter, abysmal failure, and is on its way to a complete currency devaluation, hyperinflation, economic (and demographic) collapse, and the inevitable outcome: a failed Keynesian state. The good news: what few (irradiated) Japanese are left alive, will have an all time high Nikkei to enjoy, however they will be limited to how many shares they can sell based on the inventory of available wheelbarrows to cart their stock sale proceeds from point A to point B.

 

http://www.zerohedge.com/news/2015-01-08/krugmans-japanese-legacy-record-households-welfare-corporate-bankruptcies-soar-major