Every night the evening news in Japan refers to the “Great American Depression”. Do they know something we don’t? I hear largely inaccurate comparisons to our current economic debacle to Japan’s lost decade on an almost daily basis. But there is one thing both have in common. Nobody believes for a second the securities the banks own are worth what they say they are worth. That’s what bank hoarding of capital is telling you. The question here remains, how quickly can the banks be forced to face the music?
How the Japanese See Our Depression.
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