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What The Weak Recovery In Japan Can Teach Us About Re-Igniting The U.S. Economy
Odd Lots
Japanese Capital Flows and the Role of Land
Japan was previously the largest net long-term capital exporter in world history. But by 1992, it had suddenly become a net importer of capital. So this bank credit creation for real estate transactions created new money out of nothing,. And some of that spills over the borders abroad, which makes sense. That's the diversification we talk about. And that explains capital flows.
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