Reading the Financial Times online this morning, I was flattered to find another prominent reader, viz. the leader of the opposition party in Japan. Recently I wrote again about the growing consumer-driven and self-reinforcing regional economies of East and Southern Asia, which I facetiously named the "East Asian Co-Prosperity Sphere". And lo, what was said yesterday ?
FT: "Yukio Hatoyama, the leader of Japan's opposition Democratic party who is strongly placed to become prime minister after elections this month, has condemned “US-led market fundamentalism” and vowed to shield his nation from the effects of untrammelled globalisation.
With the era of US unilateralism ending and worries about the dollar’s future role growing, Japan should also work towards regional currency union and political integration in an “East Asian Community”, Mr Hatoyama wrote in an essay published Monday in the Japanese magazine Voice."
Well, I like my name better. It's a play on the name that WW II era Japan gave to the empire their war goals were to create.
Lots of talk worldwide about "US-led globalism" might be local politics - boob bait for the Japanese bubbas. That talk is misguided, as US-style consumerism and economic freedom is the key to future world growth and better lives for the world's billions. The focus of reforms needs to be reining the big, evil funds and ruling classes that cause so much turmoil. The rich and powerful seek to create a new world aristocracy. That's where regulation is needed. The common man should be completely unfettered in his drive to better his life. His efforts are the tail wind for economic growth.
Nihil. That's Latin for nothing.
Word of the Day
"Sardonic" - adjective [$10]; this word needs to be distinguished from the more common "sarcastic".
Sardonic means disdainfully or skeptically humorous: derisively mocking; (alternate) 1. grimly jocular; 2. (of laughter, etc.) bitterly mocking or cynical.
Sarcastic is from sarcasm which means 1. use of bitter or wounding, esp. ironic remarks; language consisting of such remarks; 2. such a remark.
Distinction: Sardonic includes elements of humor; Sarcastic includes more bitterness and irony.
Sentence: The fine book, "Elmer Gantry", by Sinclair Lewis, the first American winner of the Nobel Prize for literature, is a sardonic novel about an evangelical preacher. I'm about 2/3 through it and highly enjoy the book. I wonder why this book wasn't recommended for reading in high school. It's certainly retain much applicability to modern life.