Something’s missing from the story of the great earthquake
Dave Ross Commentary – Listen: Something’s missing from the story of the great earthquake
Every day you look at the latest fallout from the earthquake — which at this point may even involve ACTUAL fallout — and you wonder what else could possibly happen to Japan?
But what’s just as remarkable is what HASN’T happened.
Where’s the looting? Where are the disorderly mobs banging on the relief trucks?
So far we’re seeing no looting, no rioting, just long and orderly lines. Residents waiting for water at a school in Sendai, stood exactly within the snaking lines chalked on the playground.
Survivors still take off their shoes as they enter the relief shelters; they still sort the trash.
When a convenience store lost power and the clerk couldn’t open the register — the customers simply returned the items to the shelves.
And stores that did manage to stay open actually LOWERED prices instead of raising them.
The reason for this order is not because of an overwhelming police presence.
A study a few years ago found that whereas most American kids regulate their behavior based on fear of punishment; Japanese kids focus on how their behavior would affect others.
You just don’t do anything you’d be ashamed of later. Even when the world seems to be ending. Oh they’re not perfect, there’s racism — the much-oppressed buraku class will tell you that.
But as I see US investors dumping stocks today, for fear that the Japanese economy will never recover…
Well, I don’t want to give investment advice… but when you see a bunch of emotional investors betting against Japan’s resilience… it might be time to call your broker.