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Strategies & Market Trends : The coming US dollar crisis
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To: Real Man who wrote (5237)3/19/2008 7:26:41 PM
From: The Wharf  Read Replies (1) of 71456
 
Japan was different in that the people of Japan had savings accounts and part of their problem was how to convince their people to spend money and invest in business.

Too many here live on credit. Savings account are not high here though perhaps that can be offset with money deposited into mutual funds. To me average people here carry far more debt which puts them in a higher risk area.

Housing was different in Japan too where as here many would will away from mortgage debt if the house goes down to the point equity is negative. The attitude is why bother to pay. Where in Japan property dropped but the mind set or pride of self keeping word was very different where people paid the debt they had taken on.
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