There are many reasons why the evidence is building that we, in the West, may be #TurningJapanese (it’s a Twitterese I coined). Japan experienced deflation for over 20 years, had a generational depression and stocks and property fell 80%, from 1989 to 2012.
It is by no means confirmed yet. Just that the evidence is building.
I have been saying for several years that the game changer would be soon and then, from 2008, I have been saying we are seeing the game changing. This is yet more evidence that whatever those above the age of 50 or so experienced for ‘ever’ from the 70s through to the 2000s is over and – ever so gradually – reversing. Whatever the baby boomers experienced is NOT what their kids are experiencing or will experience. I think this chart is so crucial to the potentially ‘moving-into-a-depression’ thesis.
I was on with Robert Elms on BBC Radio London at the weekend, talking about whether or not going to University is worth it.
He replied something like ‘very interesting but quite wrong.’ He trotted out the usual crap that studies show that graduates earn £x00,000 more than non-graduates. I had to point out the bleeding obvious that that relates to graduates 30-40 years ago. NOT THE CURRENT CROP! This is how the (very highly paid Socialist / no charge educated) media thinks.
Copyright Jonathan Davis 2014