I have a panoply of links today. There is no one over-riding theme though I do want to address the Japan question in more depth at some point. I have seen some commentary from Kyle Bass and Jeffrey Gundlach on the dire straits Japan finds itself in and the general view there is that Japan is doomed. I am less pessimistic. While I believe Japan has erred tremendously in following the Richard Koo script of allowing government deficits to run up in an attempt to bail out the private sector, I don't think this is fatal. As I have written repeatedly, the UK had a higher debt to GDP and a crushing loss of productive capacity after World War 2 and they did not hyperinflate. There was serious currency depreciation and an erosion of wealth due to inflation, but this took decades to play out.
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.