- Joined
- Sep 25, 2007
- Messages
- 201
Hi all,
An article from the Economist Magazine. Excerpt:
AS FALLING house prices and tightening credit squeeze America`s economy, some worry that the country may suffer a decade of stagnation, as Japan did after its bubble burst in the early 1990s.
By learning from Japan`s mistakes, America can avoid a dismal decade. However, it would be arrogant for those in Washington, DC, to assume that Japan`s troubles simply reflected its macroeconomic incompetence. Experience in other countries shows that serious asset-price busts often lead to economic downturns lasting several years. Only a wild optimist would believe that the worst is over in America.
http://www.economist.com/finance/economicsfocus/displaystory.cfm?story_id=11964819
Keith
An article from the Economist Magazine. Excerpt:
AS FALLING house prices and tightening credit squeeze America`s economy, some worry that the country may suffer a decade of stagnation, as Japan did after its bubble burst in the early 1990s.
By learning from Japan`s mistakes, America can avoid a dismal decade. However, it would be arrogant for those in Washington, DC, to assume that Japan`s troubles simply reflected its macroeconomic incompetence. Experience in other countries shows that serious asset-price busts often lead to economic downturns lasting several years. Only a wild optimist would believe that the worst is over in America.
http://www.economist.com/finance/economicsfocus/displaystory.cfm?story_id=11964819
Keith