How a Tokyo Earthquake Could Devastate Wall Street

How a Tokyo Earthquake Could Devastate Wall Street

2.3 3
by Michael Lewis
     
 

In 1989, Michael Lewis reported on the potential effects of an earthquake in Japan on world financial markets. His insights are once again timely, and they are presented here as a stand-alone essay with a new introduction: “Real Versus Imaginary Japanese Earthquakes.”

In the late 1980s, Japanese scientists were trying to figure out the

See more details below

Overview

In 1989, Michael Lewis reported on the potential effects of an earthquake in Japan on world financial markets. His insights are once again timely, and they are presented here as a stand-alone essay with a new introduction: “Real Versus Imaginary Japanese Earthquakes.”

In the late 1980s, Japanese scientists were trying to figure out the economic damage that would be caused if a catastrophic earthquake destroyed Tokyo. The answer was bleak, but not for Japan. Kaoru Oda, an economist who worked for Tokai Bank, speculated that the United States would end up paying the most. Why? Japan owned trillions of dollars’ worth of foreign liquid assets and investments. These assets, which the world depended on, would be sold, forcing countries into the precarious position of having to return large amounts of money they might not have. After the recent earthquake, Michael Lewis reexamined this hypothesis and came to a surprising conclusion. With his characteristic sense of humor and wit, Lewis, once again, explains the inner workings of a financial catastrophe.

“How a Tokyo Earthquake Could Devastate Wall Street” appears in Michael Lewis’s book The Money Culture.

Read More

Product Details

ISBN-13:
9780393341508
Publisher:
Norton, W. W. & Company, Inc.
Publication date:
03/24/2011
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
30
Sales rank:
789,598
File size:
0 MB

Related Subjects

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >