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To: DownSouth who wrote (27566)7/30/1999 11:26:00 AM
From: John F. Dowd  Read Replies (2) | Respond to of 74651
 
DS:NO- ed had it right. The real estate problem was one due to re speculation supported by the greedy Japanese banks which are really surrogates for the gov't. of Japan. Don't confuse their RE screw up with inflation. Actually it was their fear of inflation that led people to putting all that money into buildings that didn't have the DCF to support the investment.

As a matter of fact the Japanese are the all time strong currency anti-inflation champs. As a mercantilist nation they have to keep the yen up as they have no natural resources- so inflation is a no no and a strong is everything. They have gone into a 7 yr. recession and inflation wasn't the problem. JFD