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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (83586)8/21/2008 2:44:42 PM
From: elmatador   of 116555
 
country may suffer a decade of stagnation, as Japan did after its bubble burst in the early 1990s. Japan’s property bubble was also fuelled by cheap money and financial liberalisation and—just as in America—most people assumed that property prices could not fall nationally. When they did, borrowers defaulted and banks cut their lending. The result was a decade with average growth of less than 1%.

http://www.economist.com/finance/displaystory.cfm?story_id=11964819
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