Japan Doesn't Want to Play
Last when I read that the US was trying to get Japan to buy $15 billion of subprime paper to help the liquidity of the market it crossed my mind that that wasn't going to go over well. After all, Japan and done nothing but languish since their housing bubble burst in 1989.
And look at this quote:
"What did America do when we had our non-performing loan problem? They just pushed us into the corner. European banks also ran away. Why should Japan now shoulder this burden?" said the megabank executive. "But this is a decision made at a high political level and could end up defying logic."
They had to dig them selves out without help from the international community so I can't says I blame them a bit.
Read up about Japan's asset price bubble. Can it happen here? Can/did we learn a lesson here? It's a conspiracy.
What did Floridabuilder say about his uncle? A proper bought for $1 million sold for half a million 30 years later?
So, I'm betting this belief "The Stock Market Always Goes Up" is going to be sorely tested as well. Put your 2c in for charity. Motley Fool is donating 2c for each reply for the month of December.