> The problem is that they
>can't seem to get the Japanese >bourgeoisie to spend.
Yeah, how do you like that. Even decrees to go out and spend didn't make them buy more than they were already.
With deflation, you can buy far more with far less. If you are conscious of it, you might even wait on making a purchase knowing that the prices will come down further. This in fact seems to be happening. Everyone waits for sales to buy anything. With the increased competition in retailing, so far chain stores are obliging but not making much money. This, too, would add to deflation.
^^^^^^^^
CB: Charles, has the quality of life gone down there since the slow growth began ?