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What really caused Japan's Lost Decade? | 54 comments (54 topical, editorial, 0 hidden)
Re: What really caused Japan's Lost Decade? (4.00 / 3)
Assets inflation benefits asset owners who see their net worth grow (along with the income they can earn)

The most important function of asset prices is for valuing the assets as collateral for debt. Owners don't benefit from the income they can earn so much as from the leverage they can put on their assets. Add limited liability and you're set.

The brainless should not be in banking -- Willem Buiter

by Carrie (migeru at eurotrib dot com) on Tue Mar 23rd, 2010 at 05:13:08 PM EST
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What really caused Japan's Lost Decade? | 54 comments (54 topical, 0 editorial, 0 hidden)
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