Saturday, December 26, 2009

The ghost of Christmas future

This is where Obama-type economic policies take you:

Deflation tightened its hold on Japan in November and the unemployment rate rose for the first time in four months, as the world's second-biggest economy struggles to stage a convincing comeback.

The unemployment rate climbed to 5.2%, reversing an improvement to 5.1% in October, the government said Friday. The result marks the first increase since July and matches Kyodo News agency's average market forecast of 5.2%.

Although export growth, particularly to the rest of Asia, is helping boost confidence among Japanese companies, they remain reluctant to spend on factories or workers amid falling prices and the yen's recent strength.

The latest figures add to Prime Minister Yukio Hatoyama's growing list of troubles, coming a day after the Japanese leader publicly apologized for two former aides charged with falsifying campaign finance reports.

Unemployment, deflation and stagnation.

The middle class getting poorer while the rich get richer.

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