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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (64648)	7/15/1999 5:34:00 PM
From: Nadine Carroll	Read Replies (1) \| Respond to of 132070

Wayne, Is there any consensus about what popped the Japanese bubble of the 80's? was it the Iraqi invasion of Kuwait & the Gulf War? What was the catalyst there?

To: Freedom Fighter who wrote (64648)	7/16/1999 4:48:00 AM
From: PaperChase	Read Replies (1) \| Respond to of 132070

>>Interest rates are lower than their savings based (free market)level and since we are supplying income streams in the form of credit that was not diverted with savings, profits are equally out of whack to the upside. We can similarly produce high asset prices with little or no savings. << And so did Japan under the opposite scenario. They had a much higher savings rate while experiencing high asset prices. It begins and ends with the banks. Whatever the posture is adopted by the Office of Comptroller of the Currency or FDIC, determines when the bull market will rest.