Economist recommends that private sector debt in Japan has to be written for economy to recover

"Steve Keen says Japan must write off old private debts: ''Excessive private sector debt, and the failure to shut down zombie banks was the main factor that started this slump. The debt has to be written off - with minimal damage to savers - before investment will ever sustainably start again.''"

Source: Shared benefits if US Fed hits its mark

Read more: http://www.theage.com.au/business/markets/shared-benefits-if-us-fed-hits-its-mark-20130707-2pk5g.html#ixzz2YQbBsov0

July 8th 2013

The AGE

TIM Colebatch

Read more: http://www.theage.com.au/business/markets/shared-benefits-if-us-fed-hits-its-mark-20130707-2pk5g.html#ixzz2YQayjLoq