Sunday, April 11, 2010

DEEP THOUGHTS ON THE BALANCE SHEET RECESSION BY RICHARD KOO | THE PRAGMATIC CAPITALIST

DEEP THOUGHTS ON THE BALANCE SHEET RECESSION BY RICHARD KOO

Watch carefully, it's the blueprint for the next phase in the western world. Oh, one difference, there is no trade surplus to facilitate the cash flow demanded by the balance sheet being "under water" and as is often cited by economists, Japan serviced the majority of their sovereign debt internally, rather than externally as is the case with the western world.

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