For the United States, I will try to organize.
Speaking roughly, trouble in the U.S., residential and employment.
I think that it comes down to this.
For employment, President Obama issued a countermeasure.
To be precise, I only made a suggestion, this is, I do not know if it runs.
It is a proposal, but the scale has become larger than the $ 300 billion that has been said.
It is $ 447 billion of about 1.5 times.
Please recall the past of Japan.
Obuchi other than the scale of the appearance be greater, such economic measures, those less fresh water, the effect was not good enough.
And we austerity, the United States now will not be able to expand spending freely.
Because it is a stimulus package in such, it is what it looks even bigger, fresh water is less.
To a place like this, I have been similar to Japan …
The first place, why, employment in the United States do not go back.
There is reason to wage.
Employment was leaked overseas cheap wages.This is what is often said.
So, whether in the United States.
It is the present conditions than lower wages, by reducing the number of employees, many companies in the United States, it has maintained a wage.
In addition, the salary gap that of rank-and-file employee and senior staff is not the ratio of Japan.
To find out, you simply compared with Japan.
Person of the Employed, especially, who 20 years after the bubble, are enrolled, should be the thing you know you are taking jobs way that is different from the company of U.S. companies in Japan to Japanese companies.
It is to often hear, the peak of the “salary, huh ○ ○ years ago.It is a story or something “.
In other words, in order to protect jobs, reduce wages, Japanese companies, is why had maintained the number of employees.
The management of Western, Japanese management is what it was a fool that it is no good this way.
Result, please look.
Unemployment rate in Japan is half of the United States.
However, It is a thing that wages of Japanese workers because of lower consumption will decline, it was a factor of deflation.
I do not know how in Japan and the U.S. Which is correct.
In short, income = wages × number of employees
It is that and how does the equation rather, of whether to keep.
It is that while revenue is reduced, as the employment flows out abroad, that good or what is to.
So, I think at the suggestion of President Obama, the root of the problem of employment because not resolved, perhaps, the recovery of employment, and does not contribute much.
I think probably, only about half of the proposal, with or not than do not pass through the parliament.
Housing problem is a trouble of another has occurred precisely because this housing prices does not increase.
The first place, the trigger for the financial crisis is the subprime problem, it is the reason was a housing problem.
Post-crisis, various measures came out, but, as it clearly, all, I was on the assumption that house prices will return to some extent.
This means that by housing prices return, sale of assets, such as financial institutions that they burdened might become the possible.
However, it is not that housing prices return, it is the state, on the other hand, the buyer sue the seller (securities companies).
Well, even if buyer return the price, but there is no possibility of appeal, as well as complained, housing prices if the rise, separately, not some scary,
But, the reality, house prices are not back.
That means, I think as long as that does not work here, the “United States of bright future”, first, that there is no.
In, what to next, the United States.
I think once again, and take the same way as Japan.
It reduces the loan interest rate with all one’s might of housing.
Now, the United States, is about 4.2% for 30-year fixed.
Through Operation Twist, reduce long interest rates, mortgage interest rates will to try to decrease.
By reducing the loan interest rate, it would be strategy to promote a home purchase.
However, in the case of Japan, certainly, in synergy with the tax cuts, we sell a house, but the price did not increase.
I think exactly the same thing happen, no, the United States, and it is happening already.
After all, would no way in order to increase the house prices, but to improve the economy.
Whatever the house, whether in the context of employment, that I have no magic bullet, you can see the example of Japan.
Of course, temporary, is there any effect, but the root does not change anything.
I think in the upcoming FOMC, perhaps, policies to stimulate the housing prices that said they come out.
Of course, if economic importance, it will ensure that friendly policy comes out against strains.
I think immediately, and not crash or anything now, but still, it is house prices that eye is not let go.