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To: lorne who wrote (56886)	7/31/2000 8:02:05 PM
From: lorne	Respond to of 116958

Has Japan's `Creative Destruction' Process Begun?: David DeRosa. Mon, 31 Jul 2000, 7:25pm EDT " The relevance to Japan is straightforward. If Musha and Shimode are only half right, then there could be significant changes in the Japanese banking system in the next few years. Left unattended, this could result in an implosion in the broad- based monetary aggregates as banks fail and liquidity disappears from the system. That is how a no-growth economy like Japan's could wander into a full-blown depression, a la America in the early 1930s. " full story >>> quote.bloomberg.com