http://www.crikey.com.au/2012/11/26/whos-afraid-of-european-economic-collapse-not-us/ now with extra source Tue, 18 Jun 2013 21:36:57 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2012/11/26/whos-afraid-of-european-economic-collapse-not-us/comment-page-1/#comment-229730 Christopher Nagle Mon, 26 Nov 2012 10:47:05 +0000 http://www.crikey.com.au/?p=333540#comment-229730 If you recall, the Nikkei went as high as nearly 39,000 at the end of 1989. It now bounces between 7,500 and 8,500, The Japanese banks have been technically insolvent since that time and show no signs of recovering on their balance sheets. That is why we haven't heard so much from Japan inc in recent times. Tokyo real estate was once worth an equivalent of the entire United States of America. Ho hum. How the mighty are fallen. The 2008 GFC has just done the same to the USA. And they won't recover anymore than the Japanese did. It will just take a while for the reality to sink in. If you recall, the Nikkei went as high as nearly 39,000 at the end of 1989. It now bounces between 7,500 and 8,500, The Japanese banks have been technically insolvent since that time and show no signs of recovering on their balance sheets. That is why we haven’t heard so much from Japan inc in recent times. Tokyo real estate was once worth an equivalent of the entire United States of America. Ho hum. How the mighty are fallen. The 2008 GFC has just done the same to the USA. And they won’t recover anymore than the Japanese did. It will just take a while for the reality to sink in.

]]> http://www.crikey.com.au/2012/11/26/whos-afraid-of-european-economic-collapse-not-us/comment-page-1/#comment-229718 mark dunstan Mon, 26 Nov 2012 09:50:04 +0000 http://www.crikey.com.au/?p=333540#comment-229718 The Australian dollar is not strong. The major world currencies are just weak. Let's not kid ourselves. The Australian dollar is not strong. The major world currencies are just weak. Let’s not kid ourselves.

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