To: bambs who wrote (7595 ) 10/25/2000 10:53:59 PM From: jack bittner Read Replies (4) | Respond to if your grandmother had this bubble, she'd be your grandfather. by which is meant: if 2 unrelated phenomena suddenly develop all the same aspects they will become identical. what makes you think the Japanese economy and the Japanese mentality are the same as ours? their bubble had the imperial palace gardens, a few acres, equal in value to all the land in the state of california. even to today the Japanese banks have not written off and taken the losses on the bad debts carried as "loans" on their books. so they can't make healthy new loans, thus stifling their economy for lack of liquidity. and slowly and steadily these gigantic masses of non-performing loans totter into collapse. in our banking collapse of the 80's we wrote off all those loans in jig time. and the banks went back into healthier lending practices. an error in Japan devastates the executive's life, so he is very reluctant to admit that error. thus it festers and destroys his company. here, along with Fred Astaire, we pick ourselves up, dust ourselves off, and start all over again.
