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Politics : President Barack Obama
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To: tejek who wrote (128461)12/5/2012 6:39:09 PM
From: RetiredNow  Read Replies (1) of 149317
 
Japan actually dealt with their banking problems, but getting rid of mark to market accounting to hide the toxic assets on their books, by lowering interest rates dramatically, by massive deficit spending and borrowing to do it, by money printing, and by monetization of sovereign debt. In fact, Japan has already done most of what we are doing right now. They just didn't do it on quite the scale we're doing it on.

We are rapidly becoming Japan. It'll just take us longer to get there (I hope), because we have a much more vibrant economy than they did when there troubles began. But continue these Fed and Congressional policies of money printing, deficit spending, and borrowing binges, and we'll become Japan alright.
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