Wolf Richter www.testosteronepit.com
In Japan, people who are old enough to have lived it as adults still reminisce about the bubble that blew up in 1989 when the Nikkei almost hit 40,000 (now at 9,045) and when the already sky-high prices of real estate could only go up further. The slide from the tippy top to reality today has been brutal, and a lot of people lost their shirts. A home changed from being an “investment” to being an “expense.” Stocks became toys for traders. And
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