Thread: US learning lessons from S.Korean economic crisis

One such lesson, they say, is to avoid relying too much on stimulus spending and to make painful structural changes so that the economy can find its natural bottom and resume its growth. Another is to make the changes quickly and decisively to restore the public’s faith.

Well...duh...I could have told you that.

What did we end up doing? porkulus? porkulus 2? bail out GM to save the unions and screw the investors? Obamacare? the so called "consumer credit protection act" or some bullshit like that? cap and tax failed so EPA will destroy our industry by fiat?

Obama will go down in history as the worst president in the last 100 years.

South Korea reported 1.9% real growth year-on-year in the fourth quarter of 2012, up one-half point from Q-3’s 1.4% growth rate. For the full year, the economy expanded 2.06%, the second slowest pace since the 1997-98 Asian Financial Crisis. Korea scratched out a 0.21% rise in 2009.

Capital investment fell for the second straight year, and the fourth out of five since 2008, by 0.97%. Domestic demand remained sluggish, rising less than 0.3% after 2011’s 0.2% contraction. Private consumption, about 63% of domestic demand (and 51% of GDP) rose 2.1%, down from the previous year’s 3.7% pace.

The Korean economy was worth US$1.27 trillion in 2012.