Monday, Dec 22, 2008
The government failed to heed the warnings so this recession could now last 10 years
Telegraph: Japan plans record spending to prevent slump
"This could be the start of a global version of the 'lost decade' that Japan endured in the 1990s," said Professor Hama. "It took us 10 years to recover after our bubble burst and it looks to me as if that 10-year timeline is a benchmark for these crises."
Posted by paul @ 07:56 AM (435 views) Add Comment
7 Comments
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1. Mameha said...
In Japan houses slowly lose value, like cars. They are not investments. I think this is how it should be, and how it will be in UK in future.
2. paul said...
This might at first appear to vindicate Brown's spending planbut Japan is the second richest country in the world with a huge trade surplus. The UK is the fifth(?) with a massive deficit.
3. paul said...
Welcome Mameha.
Unfortunately the opportunity for the Bank of England to see how right you are, has come and gone.
Like cars. Yes. There is no logical reason why house prices should go up, other than thinking that they should.
4. jackas said...
That'll be the lost decade that's entering its 19th year?
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