Posted by: fortunefaded May 9, 2009
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MIT professor Simon Johnson and economist Peter Boone draw parallel with Japan's lost decade and the current rally.
No matter what the stress test says, they insist,
"In essence, Europe and the United States both are saddled with zombie
banks (which don't really lend), zombie corporations (which don't
grow), and a decline in the relative size of the working population (as
more people try to retire). This "Japanese" scenario can persist for
many years."
http://www.cnn.com/2009/POLITICS/05/08/johnson.economy/index.html
Remember, when every news network starts saying we are in a new bull market, that's when you run for the woods.
No matter what the stress test says, they insist,
"In essence, Europe and the United States both are saddled with zombie
banks (which don't really lend), zombie corporations (which don't
grow), and a decline in the relative size of the working population (as
more people try to retire). This "Japanese" scenario can persist for
many years."
http://www.cnn.com/2009/POLITICS/05/08/johnson.economy/index.html
Remember, when every news network starts saying we are in a new bull market, that's when you run for the woods.