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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (75510)	12/13/2006 11:41:12 AM
From: GST	Read Replies (2) \| Respond to of 110194

Yes, an export oriented economy with a high savings rate and a massive trade surplus did indeed behave opposite to our own. There was also a major cultural difference -- Japan was not willing to force their banks to clean up their balance sheets while the US showed it was more than willing to do so and to do it quickly -- in a matter of a few years. Our problems took place at roughly that same time and on roughly the same scale in terms of bad loans (higher in Japan but not massively higher) -- but as one would logically expect, the results were the exact opposite in Japan from what happened in the US.