Japan has reported a record current account deficit because of rising energy imports, as the country’s economic recovery remains fragile.The shortfall was 437.3bn yen $5.4bn; £3.4bn in January, the ministry of finance said.The measure is the broadest of how much Japan earns through international trade and overseas investments.Also on Thursday, revised figures showed the economy contracted less than had been thought at the end of 2011.On an annualized basis, the economy shrank 0.7% in the three months to the end of December, cabinet office data showed.That is much less than the preliminary 2.3% contraction reported previously. (extracted from: BBC News – Japan reports record current account deficit.)

Karl Marx is said to have believed that capitalism (read consumerism) has seed of its own destruction. So was Keynes being economical with truth when he advocated the growth without specifying that like everything else it also has a limit. Why I do not find this debate that a USA citizen spending 20 times the earning of rest of the word has economic justification to continue this disparity with or without hypothesis of God in the face of the fact that billions starve or are underfed.  I am sure charity is not the answer but right economic policies may have the answer. I disagree with Marks that change in political structure would do any good because, as we have seen, after a while two enemies start looking alike i.e. the new political administration starts to behave like older one. Therefore it is the need of the hour that we look at the economics as science to remove disparities created by switching to currency system from the barter system.( There is more on this topic here.)

HAPPY HOLI!!!!!!!!!”

Adieu.