Conceited Mortal Men (L'orgueil vain)
The Koran
The Flame
In the name of Allah, the Beneficent, the Merciful.
[111.1] Perdition overtake both hands of Abu Lahab, and he will perish.
[111.2] His wealth and what he earns will not avail him.
[111.3] He shall soon burn in fire that flames,
[111.4] And his wife, the bearer of fuel,
[111.5] Upon her neck a halter of strongly twisted rope.
http://quod.lib.umich.edu/cgi/k/koran/koran-idx?type=DIV0&byte=969367
(If one hates the founder of Islam, he and his wife are destined to be cursed. Abu Lahab, also named Abduluzza ibn Abdulmuttalib, was actually an uncle of the founder of Islam.)
Every incident concerning a holy book is for glory of the God to be manifested.
SECTION I: Bank of England
In 2002, Mr. Bernanke of FRB reportedly said, "All the Monetary Policy Board members of the Bank of Japan are junk, except one!"
In 2010, nobody thinks that Mr. Bernanke is a genius or hero who could foresee the 2008 Oil Price Hike and Wall Street debacle as well as the 2010 9.6% jobless rate.
What I wrote for Mr. Bernanke is: "Think that Mexico has become another China, with 1.3 billion low-paid population and modern factories and plants as many as those in Japan! America will surely enter deflation. But, it is remarkable that the unemployment rate in Japan is still around 5% at most."
Mr. Bernanke does not know the structure of the world where economy is a result from interactions of various factors at various levels. Economics is just at one humble level.
I really still wonder whether he can today correctly explain why the 2008 Oil Price Hike and Wall Street debacle as well as the 2010 9.6% jobless rate have happened and why he could not predict them. (However, I do not blame his statement in August 2008, since President Mr. George W. Bush delivered the same statement.)
But, somebody worse is found around the Bank of England.
--------------
The Realities and Relevance of Japan's Great Recession
24 May 2010
In a public lecture at the London School of Economics today, Adam Posen - external member of the Monetary Policy Committee and senior fellow at the Peterson Institute for International Economics - considers the Japanese economic experience of the late 20th century and its relevance for other advanced economies today.
Adam Posen argues that:
• Japan's Great Recession was the result of a series of macroeconomic and financial policy mistakes. It was largely avoidable once the initial shock from the bubble bursting had passed. This is demonstrated by the under-appreciated strength of Japan's recovery once policies were reversed in 2002-03.
• Japan actually had a number of structural advantages that made its stagnation all the more avoidable, particularly with respect to fiscal policy. Structural deficiencies in Japan's financial system and in its corporate governance offset these when the deflation persisted.
• The aberration in Japan's recession was not the behaviour of growth, which is best seen as a series of recoveries aborted by policy errors - a sawtooth, not a flat line. Rather, the surprise was the persistent steadiness of limited deflation, even after recovery took place. That is a more fundamental challenge to basic macroeconomic understanding than is commonly recognised, and more research is needed.
• The UK and US economies are at low risk of turning Japanese in the sense of having recurrent recessions through macroeconomic policy mistakes - but deflation itself cannot be ruled out. The UK worryingly combines a couple of financial parallels to Japan with far less room for fiscal action to compensate for them than Japan had. More active investors and greater openness in the UK than in Japan may be able to turn this around.
• One major problem which Japan did not face during its Great Recession was poor prospects for external demand and the need to reallocate productive resources across export sectors. The UK, US, and many Euro Area economies do now face this challenge simultaneously, which may limit the pace of, and our share in, the global recovery.
Adam Posen says: "Ultimately, my main analytical point is for people to stop thinking of 'turning Japanese' as a syndrome, some sort of strange condition into which an economy can fall. Instead, we should think of Japan's Great Recession as largely demonstrating the validity of much textbook, even old fashioned Keynesian, macroeconomics - and thus amenable both to comprehension and, within limits, avoidance, or at least amelioration."
http://www.bankofengland.co.uk/publications/news/2010/045.htm
--------------
No textbook has ever linked China and Japan in their parallel but asymmetry deployment through 1980's to 2000's.
All I can say to the Bank of England is: "Think that Ireland has become another China, with 1.3 billion low-paid population and modern factories and plants as many as those in Japan! The U.K. will surely enter deflation. But, it is remarkable that the unemployment rate in Japan is still around 5% at most."
SECTION II: EU-27, USA, China & JAPAN?
What supports development of China is of course education.
In any country, higher education where researchers and scholars are generated is attached importance to as a major driving factor for its economic growth.
How China has come to take rank with Japan can be seen in Chinese efforts in R&D fields, though China has the 10 times-plus larger population than Japan.
(http://www.nistep.go.jp/achiev/ftx/jpn/mat187j/pdf/Indicator2010AppendixTables.pdf )
In a wider scope, this figure tells:
1) East Asia (China, Korea, and Japan) had a higher culture level than Europe before modernization or the Industrial Revolution in Europe.
2) Having been led by Japan, China and Korea could grow through the 19th and 20th centuries in terms of modern culture and science, resulting in the present state of their economy.
The most important lesson Japan has taught to China and Korea as well as India and other non-Christian countries is that it is not necessary to be a Christian country to succeed in modern technology, business, and economy like Japan.
Anyway, a new revolution needs well-educated Chinese who would discover that their nation is not democratic at all.
*** *** *** ***
Jesus Christ must have acted as Elias before He started His great mission.
While young Jesus Christ was living as Elias, people did not respect Him.
But, as Jesus Christ never told the fact and His experiences, no records were made on the past of Jesus Christ travelling alone as Elias around Palestine 2000 years ago.
This is my humble interpretation about the relationship between Jesus Christ and Elias.
But, most importantly, it is also inferred that Jesus must have also acted as Moses on certain occasions before He started His great mission.
...
By the way, what happened on September 11ths in these years after 2001?
Mar 9:9 And as they came down from the mountain, he charged them that they should tell no man what things they had seen, till the Son of man were risen from the dead.
Mar 9:10 And they kept that saying with themselves, questioning one with another what the rising from the dead should mean.
Mar 9:11 And they asked him, saying, Why say the scribes that Elias must first come?
Mar 9:12 And he answered and told them, Elias verily cometh first, and restoreth all things; and how it is written of the Son of man, that he must suffer many things, and be set at nought.
Mar 9:13 But I say unto you, That Elias is indeed come, and they have done unto him whatsoever they listed, as it is written of him.