>>509017103 (OP)
The biggest asset bubble in history burst and it's been central bank funded deficit spending ever since (avoiding momentary deflation at the cost of decades long drawn out stagnation).
> From 1956 to 1986 land prices in Japan increased by 5000% even though consumer prices only doubled in that time.
> By 1990 the Japanese real estate market was valued at 4x the value of real estate in the United States, despite being 25x smaller in terms of landmass and having 200 million fewer people.
> Tokyo itself was on equal footing with the U.S. in terms of real estate values.
> The grounds on the Imperial Palace were estimated to be worth more than the entire real estate value of California or Canada at the market peak.
> There were over 20 golf clubs that cost more than $1 million to join.
> In 1989 the P/E ratio on the Nikkei was 60x trailing 12 month earnings.
> Japan made up 15% of world stock market capitalization in 1980. By 1989 it represented 42% of the global equity markets.
> From 1970-1989, Japanese large cap companies were up more than 22% per year. Small caps were up closer to 30% per year. For 20 years!
> Stocks went from 29% of Japan’s GDP in 1980 to 151% by 1989.
> Japan was trading at a CAPE ratio of nearly 100x which is more than double what the U.S. was trading at during the height of the dot-com bubble.
https://awealthofcommonsense.com/2023/05/the-biggest-asset-bubble-in-history/
6/29/2025, 9:12:59 AM
No.509017103
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