"The early 90′s were an interesting period in financial turmoil. There were several crises brewing around the globe. Some were dealt with swiftly. Others were swept under the rug with the hopes that avoiding pain now would result in a smoothed recovery process. But that’s not exactly how things played out. In Japan, the banking sector was never forced to clear and I believe it contributed significantly to their persistent balance sheet recession..."
at http://pragcap.com/zombie-banks-turning-japanese
at http://pragcap.com/zombie-banks-turning-japanese
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