Reply to thread

Message

<blockquote data-quote="vantexan" data-source="post: 6043299" data-attributes="member: 24302">My bad, thought you were talking about something else.&nbsp; That&#039;s a ridiculous assertion.&nbsp; The Plaza Accord of 1985 was an attempt to weaken the Dollar to make U.S. goods more attractive.&nbsp; That did strengthen the Yen which added to Japanese problems.&nbsp; But the primary driver was rampant speculation in Japanese real estate with excessive borrowing.&nbsp; When the Bank of Japan raised interest.rates in 1989 the bubble burst.&nbsp; A lot of Japanese banks got left holding bad loans.&nbsp; This led to what the Japanese call &quot;The Lost Decade.&quot;&nbsp; Does any of that sound familiar?&nbsp; Rampant speculation burst our bubble in 2008.&nbsp; Rampant real estate speculation in Canada has driven your prices through the roof and now your economy is tanking.&nbsp; Sorry buddy, but you shouldn&#039;t take economic advice from a guy who had a hand in crashing Greece&#039;s economy.&nbsp; Now you&#039;ll come back and tell me how everything is the U.S. fault because sweet little countries like Greece, Canada, and Japan don&#039;t ever make poor decisions.&nbsp; One of these days you may figure out.that it&#039;s greed that&#039;s at the bottom of all of this.&nbsp; Then you can stop ranting.</blockquote>

[QUOTE="vantexan, post: 6043299, member: 24302"] My bad, thought you were talking about something else. That's a ridiculous assertion. The Plaza Accord of 1985 was an attempt to weaken the Dollar to make U.S. goods more attractive. That did strengthen the Yen which added to Japanese problems. But the primary driver was rampant speculation in Japanese real estate with excessive borrowing. When the Bank of Japan raised interest.rates in 1989 the bubble burst. A lot of Japanese banks got left holding bad loans. This led to what the Japanese call "The Lost Decade." Does any of that sound familiar? Rampant speculation burst our bubble in 2008. Rampant real estate speculation in Canada has driven your prices through the roof and now your economy is tanking. Sorry buddy, but you shouldn't take economic advice from a guy who had a hand in crashing Greece's economy. Now you'll come back and tell me how everything is the U.S. fault because sweet little countries like Greece, Canada, and Japan don't ever make poor decisions. One of these days you may figure out.that it's greed that's at the bottom of all of this. Then you can stop ranting. [/QUOTE]

Verification