And We’ll Give Volvo Back to the Swedes
DailyPundit‘s William Quick reminds us of a point I first saw approximately ever ago, then forgot about. Namely, Japan’s financial problems are far from over — because when a bubble pops, it crashes lower than when it launched. Lester Thurow (I think it was him) made the same point back in the mid-90’s, but it’s easy not to think about Japan.
Anyway, Quick does a great job with this, including fancy charts of the Dow during the Great Depression and the Nikkei since it collapsed. Conclusion: Japan is gonna keep digging before it can start climbing again. Well, that’s assuming their graying population, shrinking workforce, declining birthrate, and uncontrolled deflation ever allow them to climb again.
Now if only the Germans would do something equally stupid, we could get Chrysler back.