To whom....,
Let me clarify. If Japan gets it's house in order (as Korea seems
to be doing if recent reception for its debt is any indication), her
possibilities are probably only limited by the fact that not that many
people speak Japanese as opposed to English world-wide. By that I mean
that the *limits* for a fiscally sound Japan are probably not reachable.
The problems are that overvalued and financially unsound companies will
have to go AND pricing structures will have to change AND interest rates
will go up AND reserves will go down. The Yen will probably take an
extraordinary hit in value as the temporary re-structuring downturn is
accompanied by, and encourages, the flight of Yen into world credit
markets (BTW I tend to put both equity and debt markets into the idea of
"credit markets"). That will take a while to sort out, to say the least.
peace
