“…there are trillions of dollars of unrecognized losses...”
“…It also means we are following a Japanese type strategy of hiding the losses and we know what that produces - a lost decade, which is now two lost decades. Your listeners and viewers if they are stock types, look at the Nikkei. It lost 75% in nominal terms and has stayed that way for 20 years. I real terms it lost 85% of its value. This is a really stupid strategy. And it's ours.”
Sunday, August 15, 2010
Simple truth telling...
Posted byAmy Jamison at11:21 AM