THE NEW ECONOMIC REALITY THE DE-LEVERAGING OF THE DEVELOPED WORLD WILL CONTINUE FOR ANOTHER DECADE There is too much debt throughout the developed economies, and not enough growth to service that debt.
Phase I – Japan About twenty years ago the giant real estate and stock market bubble in Japan began to deflate. At its peak, Japanese real estate was so overvalued that the Imperial Palace grounds in Tokyo, which is 0.7 square miles, had a value greater than the entire state of California which has 163,600 square miles. When compared to the U.S. and European stock markets, the . . .
Continue Reading: THE NEW ECONOMIC REALITY PART I
