Wednesday, August 18, 2010

Talk about burying the Lede!

Today The Economist posted a story "Japan overtakes China as the world's third largest economy". Sounds like it is saying that Japan is pulling it's arse out of the fire and has finally moved ahead of China right? Eh, not exactly. What it is REALLY about is the fact that Japan's economy has fallen off a cliff and China has surged ahead to the #2 spot. Japan is now at #3 and falling. China's economy is poised for a fall too, but so far it has managed to massage the numbers to make it continue to look good even though the reality is that the numbers aren't sustainable or justified, it is all propaganda. Who is #1 BTW? The US, but that won't last either. This time next year look for US to be #3 behind Japan and falling.


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