Hear: Japan's Lost Lesson
Today on Planet Money:
— The $800 billion stimulus bill now before Congress contains a little money for oversight of the spending — a perhaps very little, reports Adam Davidson.
— Japan spent the 1990s slogging through the economic doldrums. Economist Adam Posen of the Peterson Institute says the misery could have been cut to three years if policymakers had acted boldly. Posen, author of Japan's Financial Crisis and Its Parallels to U.S. Experience, says the Obama administration needs to get more aggressive with banks.
— Last week, David Kestenbaum reported on a Finnish ad campaign that's urging folks to spend money in order to help the economy. Opponents of the message have started a Facebook group. Member Anu Partanen checks in. Bonus: A gallery of dueling save/spend ads.
After the jump, good news from Wyoming.
Curtis Tronolone writes:
I work for a small alternative energy company in WY. We install wind, solar, and geothermal heat pump systems. I believe you requested a while back to hear from people who were doing well. We have not seen a decrease in work yet and with the upcoming bill (American Recovery and Reinvestment Act) that is slated to be passed, we are expecting to see an increase in interest. We are already beginning to seeing that interest. In a way that's great, and in a way that's frightening.
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