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Strategies & Market Trends : Ride the Tiger with CD
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To: Rocket Red who wrote (131412)9/22/2008 7:59:03 PM
From: LoneClone  Read Replies (3) of 313361
 
In John Maudlin's letter today he pointed out the eerie similarities between what happened in Japan during their property boom and crash twenty years ago and what is currently happening in the US, down to the same (wrong) 'remedies' being applied.

I do recall that at the time the loudest calls for Japan to just let their financial institutions go bankrupt were from the US. That would probably have the been the right thing for Japan to do then and the US to do now -- short term pain, albeit of large proportions, for long term gain.

Japan still hasn't completely recovered from those mistakes.

I am very very glad that a large proportion of the world's economy has already decoupled from the US, and expect this trend to continue.

LC
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