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Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: MSI who wrote (17121)	11/22/2002 8:24:01 PM
From: Thomas M.	Respond to of 93284

In our last credit bubble (1920s), credit/GDP kept expanding for several years after the stock market and economy peaked. What's interesting about Japan is that they haven't contracted credit during their recession. Perhaps their failure to cleanse the system is the reason they haven't rebounded, but it might also be the reason their recession has been so utterly benign. Real estate, the primary inflationary symptom of the Japanese bubble, kept rising for about 2 years after the stock market peaked. But, you're right about the belligerency premium, so who knows what the limit is. Tom