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Michael Lewis (CIRCA 1989): How a Tokyo Earthquake Could Devastate Wall Street & World Economy
Finance and Money Culture ^ | 03/16/2011

Posted on 03/16/2011 7:23:39 AM PDT by SeekAndFind

CLICK ABOVE LINK FOR THE READ. This article was published in 1989.

A prescient article by Michael Lewis in 1989 looked at the systemic risk of a Japanese earthquake.

TO SUMMARIZE:

An earthquake destroys the Tokyo Stock Exchange and all financial records. Shares of Western insurance companies lead a global selloff. Japan liquidates overseas holdings. This causes the U.S. bond to collapse. Recession ensues.

Lewis observes that a huge earthquake devastates Tokyo roughly every 70 years or so For the past 400 years. 1923, 1853, 1782, 1703 and 1633.


TOPICS: Business/Economy; History; Society
KEYWORDS: 1989; earthquake; michaellewis; tokyo

1 posted on 03/16/2011 7:23:44 AM PDT by SeekAndFind
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To: SeekAndFind

Yup, Its the big one, come Lord!!
and no I was not speaking to you Uhbummer...stop looking in the mirror fool..


2 posted on 03/16/2011 7:25:26 AM PDT by aces
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To: SeekAndFind

Thanks for posting this! I was at a meeting Monday and was talking to the Chief Economist of Oppenheimer Funds about that article. I told him it must have been 20 or so years ago when I read it, but still remembered it because it was so frightening and inevitable. Fortunately this earthquake affected the Northern part of Japan. If the epicenter was between Tokyo and Osaka, it would be unimaginable.


3 posted on 03/16/2011 8:03:29 AM PDT by Conservative Vet
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To: SeekAndFind
An earthquake destroys the Tokyo Stock Exchange and all financial records.

Any really important information these days is backed up far away.

4 posted on 03/16/2011 8:22:28 AM PDT by antiRepublicrat
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