"Overconfidence and the Bank of Japan’s loose monetary policy in the mid-to-late 1980s led to aggressive speculation in domestic stocks and real estate, pushing the prices of these assets to previously unimaginable levels. From 1985 to 1989, Japan’s Nikkei stock index tripled to 39,000 and accounted for more than one third of the world’s stock market capitalization (Economist, 2011)."
as opposed to our market which hasn't got near all time highs 7 years ago.
anyone expecting same in Australia needs their head read.
financial markets/ loose monetary policy led to this and the US corrections in RE.
