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Standard & Poor’s Cuts Japan’s Debt Rating
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And many would say our post bubble economy is just 20 years behind theirs.
No way, thankfully, during the 80s boom the imperial palace was valued as being worth more than the whole of California. California was the eighth biggest economy at the time.
The boom that then totally bust them reached levels we haven't even got near. We're in for a dose of inflation to inflate away the excess debts. Japan would have killed for a bit of inflation after their bubble collapsed, instead they got deflation and have suffered ever since.
This news might actually be good for them in the long run.0
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