Lessons from Japan

While comparisons between the current crisis and the Great Depression of the 1930s are exaggerated, it is clear that the impact of the financial turmoil that started in August 2007 and still continues today will equal - and possibly exceed - the economic instability of the 1970s and early 1980s. The American government's $700 billion bailout of the financial industry, combined with further rescue efforts and stimulus packages the administration of President Barack Obama will no doubt pass this

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