Dear Alex,
1. Perhaps, that is the way that the Japanese Govt has originally intended things to be so, as the appropiate way to cushion the adverse consequences arising from its housing bubble burst, on its peoples through a prolonged "deflationary" economy;- as this would result in less social casualties suffered, which in return, would then be politically more acceptable for the ruling regime.
2. Another way of looking at things as they are, is that the housing bubbles that have occured in Australia so far, have been less extremes/un-sustainable, less "intensively speculative" and smalller in scale, in the first place. Consequently, Australia is able to achieve a soft landing after each of its property market booms have occurred in the past. Thus, it is able to avoid a real housing market crash, much unlike what was previously experienced in Japan and other Asian countries like HK, Singapore etc as well as the present US housing markets.
3. Personally, I will give "kudos" to the able leadership and excellent fiscal management under the ex-Australian RBA Chairman, Mr John MacFarlance and his RBA Team who are able to successfully steer Australia out of the few global financial crisis, like the 1997 Asian Financial Crisis and the 2000s DotCom Stock Market Crash etc, relatively unscathed. Even Alan Greenspan, the ex-American Federal US Bank Chairman has commended and spoken well of John MacFarlance's personal acumen and sharp mind as a person as well as the Australian RBA's performance during John MacFarlance's office term as the RBA Chairmanship.
4. With the recent change in the Australian RBA chairmanship to Glenns Steven, it is too early at this point, to judge or say whether the RBA will continue to be able to skillfully manage its fiscal policies well during a financial crisis, as during John MacFarlance's office term.
5. For your further comments and discussion, please.
6. Thank you.
regards,
Kenneth KOH
1. Perhaps, that is the way that the Japanese Govt has originally intended things to be so, as the appropiate way to cushion the adverse consequences arising from its housing bubble burst, on its peoples through a prolonged "deflationary" economy;- as this would result in less social casualties suffered, which in return, would then be politically more acceptable for the ruling regime.
2. Another way of looking at things as they are, is that the housing bubbles that have occured in Australia so far, have been less extremes/un-sustainable, less "intensively speculative" and smalller in scale, in the first place. Consequently, Australia is able to achieve a soft landing after each of its property market booms have occurred in the past. Thus, it is able to avoid a real housing market crash, much unlike what was previously experienced in Japan and other Asian countries like HK, Singapore etc as well as the present US housing markets.
3. Personally, I will give "kudos" to the able leadership and excellent fiscal management under the ex-Australian RBA Chairman, Mr John MacFarlance and his RBA Team who are able to successfully steer Australia out of the few global financial crisis, like the 1997 Asian Financial Crisis and the 2000s DotCom Stock Market Crash etc, relatively unscathed. Even Alan Greenspan, the ex-American Federal US Bank Chairman has commended and spoken well of John MacFarlance's personal acumen and sharp mind as a person as well as the Australian RBA's performance during John MacFarlance's office term as the RBA Chairmanship.
4. With the recent change in the Australian RBA chairmanship to Glenns Steven, it is too early at this point, to judge or say whether the RBA will continue to be able to skillfully manage its fiscal policies well during a financial crisis, as during John MacFarlance's office term.
5. For your further comments and discussion, please.
6. Thank you.
regards,
Kenneth KOH
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