Saturday, April 2, 2011
Government owned bank saves Japan
But there are those who want to imperil them by privatizing ...
Why the Japanese Government Can Afford to Rebuild: It Owns the Largest Depository Bank in the World
The Japanese government can afford its enormous debt because it owns the bank that is its principal creditor. But competitors are attempting to force the bank's privatization. If they succeed, they could propel the country into debt servitude along with other credit-strapped nations.
When an IMF spokeswoman said at a news conference on March 17 that Japan has the financial means to recover from its devastating tsunami, skeptical bloggers wondered what she meant. Was it a polite way of saying, "You're on your own?"
Spokeswoman Caroline Atkinson said, "The most important policy priority is to address the humanitarian needs, the infrastructure needs and reconstruction and addressing the nuclear situation. We believe that the Japanese economy is a strong and wealthy society and the government has the full financial resources to address those needs." Asked whether Japan had asked for IMF assistance, she said, "Japan has not requested any financial assistance from the IMF."
Skeptics asked how a country with a national debt that was over 200% of GDP could be "strong and wealthy." In a CIA Factbook list of debt to GDP ratios of 132 countries in 2010, Japan was at the top of the list at 226%, passing up even Zimbabwe, ringing in at 149%. Greece and Iceland were fifth and sixth, at 144% and 124%. Yet Japan's credit rating was still AA, while Greece and Iceland were in the BBB category. How has Japan managed to retain not only its credit rating but its status as the second or third largest economy in the world, while carrying that whopping debt load?
The answer may be that the Japanese government has a captive funding source: it owns the world's largest depository bank. As U.S. Vice President Dick Cheney said, "Deficits don't matter." They don't matter, at least, when you own the bank that is your principal creditor. Japan has remained impervious to the speculative attacks that have crippled countries such as Greece and Iceland because it has not fallen into the trap of dependency on foreign financing.
If there's going to be a run on government debt, it will have to be the result of its own citizens not wanting to fund it anymore. And since many Japanese fund the government via accounts held at the Japan Post Bank -- which in turn buys government debt -- that institution would be the conduit for a shift to occur.
Thursday, March 31, 2011
Wednesday, March 30, 2011
Tuesday, March 29, 2011
ID3 tag update issue
This may be helpful to someone else down the road ... I had to go in change a registry (couldn't get read only setting to stay unchecked) setting and manually to an attrib -r +s at the command prompt ... then still couldn't access the categories to change the tags ... and found this solution. Not sure if the the read only issue but would be willing to bet that the tag issue was caused by iTunes ... it's their MO ... ;-(
Windows Client TechCenter >
Windows 7 IT Pro Forums
>
Windows 7 Media
>
Cannot edit file properties for mp3 files in Windows 7
Also, I'd rather a SOLUTION from Microsoft rather than a way around it with third party tag software. Thanks.
THIS IS NOTHING TO DO WITH USER ACCOUNT CONTROL!!!!!
The problem seems to be with the ID3 tags in the files. I suspect in my case iTunes has caused some conflict with how the ID3 tags are handled but I'm no expert on all that to be honest. I was however able to use iTunes to easily solve the problem.
All I did was open the problem file in iTunes, right click on it and select 'Convert ID3 Tags' then from the drop-down menu in 'ID3 Tag Version' select 'v2.2' (I didn't try any of the others maybe they also work?)
You can select multiple tracks at once to convert them all.
If you go back to windows explorer you will find that the song information is now back and fully editable.
I'm sure there are other programs you can use to convert the ID3 tags but iTunes worked for me.
This is a bit of a long and laborious process if you have many tracks to do but worth it in the end.