When Tokyo Was Worth More Than All of America - The Japan Bubble
From Sleepy Stock Market · 01:11:53
Show by Sleepy Stock Market
On December 29, 1989, the Nikkei closed at 38,915 — its highest point ever. In Tokyo's Ginza district, a single square metre of land cost $220,000. The Imperial Palace grounds, on paper, were worth more than all of California. Japan's banks were forcing money into a market that had not seen a price fall in living memory, and the country's most prestigious bankers were taking stock tips from a ceramic toad in an Osaka restaurant. It took just fifteen months to destroy what three decades had built. It took thirty-four years to get the number back. The bubble didn't just burst. It erased a generation.🎧 Part of the Sleepy Stock Market series — financial history told as documentary audio.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━SLEEPY STOCK MARKETFall asleep to the greatest stories in financial history.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━#JapanBubble #Nikkei #PlazaAccord #LostDecade #FinancialHistory #AssetBubble #JapaneseEconomy #MarketHistory #BankingCrisis #EconomicHistory📖 CHAPTERS0:00 The Peak of Everything1:55 The Miracle That Built the Trap6:24 The Banks Go Looking9:28 The Plaza Accord Lights the Fuse15:52 Window Guidance: Forced to Lend19:29 The Land Myth & the Trophy Buys33:14 The Toad, the Banker & the Crash57:43 Three Weeks That Broke Japan1:05:07 The Lost Generation & the Reckoning
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