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Such jems as:

"After more than a decade of property deflation and economic malaise, Japan’s banks have become very prudent in granting new loans."

"Although the mini-recovery in early 2000s slightly revived the mortgage market, banks and other financial institutions tend to tighten credit at every minor sign of trouble. The Financial Services Agency has also pressured banks not to make excessive loans, to prevent another property bubble like the early 1990s."

"Japan’s aging population makes things worse. People are worried that pension funds are running out, and that real wages might fall when inflation kicks in. So any tax cuts tend to go directly to private savings accounts, rather than spending."

All sounds sooooooo familiar...this is what we are in for.

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