Fear of Japan Flu

Foroohar, Rana
January 2008
Newsweek (Pacific Edition);1/28/2008 (Pacific Edition), Vol. 151 Issue 4, p5
The article compares the U.S. with Japan in terms of economic hardship. The 1990s brought Japan falling housing values, increasing debts, and slow growth in spite of cheap money. The subprime mortgage crisis happening in the U.S. and President George W. Bush's handling of it, say critics like Robert Shiller, a Yale economist, is similar to how Japan ignored its debts. However, the banking troubles of Japan followed 7 years of slow growth while the U.S. was growing rapidly.


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