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What really caused Japan's Lost Decade? | 54 comments (54 topical, editorial, 0 hidden)
The book value is meaningless... (4.00 / 3)
...but it has real consequences because there are debt contracts tied to inflated valuations from the time the contracts were made, and denominated in money units. The serious people don't want to
  1. allow defaults on any of the debt
  2. allow inflation of the money units
so here we are.

The brainless should not be in banking -- Willem Buiter
by Carrie (migeru at eurotrib dot com) on Wed Mar 24th, 2010 at 12:27:03 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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