My only fear for the overall economy is that Fukuda, Nukaga and Tanigaki will pay far too much attention to the eternal paranoiac tales of Finance Ministry bureaucrats about budget deficits...and insufficient attention to the unraveling of the U.S. housing market, a slow train wreck that will mercilessly stomp upon the revenues and profits of the export sector.Of course, if you had asked me "Would the U.S. Treasury let Lehman Brothers go bankrupt?" I would have laughed.
Tuesday, February 17, 2009
Flashback to Back Then
From Shisaku, on September 26, 2007: