Reply #44: The U.S. economy would be destroyed more

[idlisambar]

...Consider these remarks a few years ago from right-wing firebrand and current mayor of Tokyo --- Shintaro Ishihara...


("Gendai", December 1999 edition. A special story: A series of 10 exciting opinions "I can't leave without saying this")
Ishihara: Japan is so exploited by the US. It is also a financial slave of the US. Why is it so afraid of America? Japan doesn't need to care the security treaty with the US at all. If America complains to Japan about the treaty, we just ask the US Army to get out of Japan. At present, this country has enough military technology and budget, so we make it become a strong defense nation by using its money and ability. Then, we should do what the US is most afraid of. Japan sell US Treasury bonds (it has bought about 3 trillion dollars). It will be criticized as pulling a trigger of the Depression, but this is Japan's turn to drop atomic bombs. The world economy will sink after Japan sells all its Treasury bonds. Then, which country or region will recover first? It will be Japan and East Asian Nations that can make high quality products. The best manufacturing country, Japan, as admitted by the US, will survive. And the East Asian nations also have manufacturing technology and a high standard of education. Therefore, the "Greater Asia Yen Sphere" will be established.


Does this represent the thinking of the Japanese establishment? Probably not. Yet it provides some insight into why East Asian nations are willing to continue buying our overpriced treasuries -- in the long-run, wealth goes to those who have the technology and manufacturing capacity.