Some aspects of the credit crisis are similar to japans biut with one big difference: they are a net creditor and we are a net debtor. As a predictable result the policy reponses in each case have been vastly different, as decribed in the japan article linked at the upper right of the page.
[quote=Rt.66]I’ve always thought that Japan is viewed as the successful model for dealing with a complete implosion of a country’s banking system. A lost decade or two is preferrable to a severe depression?
[quote=Rt.66]I’ve always thought that Japan is viewed as the successful model for dealing with a complete implosion of a country’s banking system. A lost decade or two is preferrable to a severe depression?
[quote=Rt.66]I’ve always thought that Japan is viewed as the successful model for dealing with a complete implosion of a country’s banking system. A lost decade or two is preferrable to a severe depression?
[quote=Rt.66]I’ve always thought that Japan is viewed as the successful model for dealing with a complete implosion of a country’s banking system. A lost decade or two is preferrable to a severe depression?
[quote=Rt.66]I’ve always thought that Japan is viewed as the successful model for dealing with a complete implosion of a country’s banking system. A lost decade or two is preferrable to a severe depression?
