November 24, 2012
IF IT WERE A PERSON THE DUTCH WOULD EUTHANIZE IT:
Japanese Stocks? Yes, They Really Think So (Roben Farzad, November 23, 2012, Business Week)
Posted by Orrin Judd at November 24, 2012 8:46 AMLess than a quarter-century ago, Japan was the economic envy of the world. In 1989, Tokyo-listed shares represented nearly half the planet's equity value, while the land beneath the city's royal palace was worth more than all of California. American nightly news anchors practically misted up when they had to report that Rockefeller Center was turning Japanese.Two lost decades and massive property- and stock-bubble explosions later, Japan is a one-word cautionary tale. Caught in economic and demographic atrophy--and stewarded by countless false-start prime ministers--the country has become a hub for zombie banks, a generation of disenchanted youth, and fading brands such as Sony (SNE), Sharp (6753:JP), and Panasonic (PC).Last year, for the first time, sales of adult diapers in Japan exceeded those for babies.
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