(achieve formerly) the thing must begin to speak of from 1985. On September 22, 1985, 5 old economy power of world -- the United States, Japan, Germany, England and France are reached in restaurant of square of American new York " square agreement " . From now on, japanese yen appreciates quickly. (achieve formerly) as a result of exchange rate great change, asset of American national debt produces severe loss, a large number of capital enter Japanese home market to avoid exchange rate risk. The industry that Japanese government appreciates because of yen for allowance and gets exports blow, begin to implement financial alleviation policy, generated superfluous current fund then. (achieve formerly) together with the financing such as residence of praedial, retail trade, individual mixes apt of bank of the Japan after 70 time after 80 time global deflationary the stock market that form rises the element overlay such as the passageway, make Japanese home arisen a congenial upsurge. (achieve formerly) among them, the stock trades the market and land trade the market especially apparent. Suffer " land never devalues " gnome word influence, the land that is a purpose with resell trades the quantity increases, price begins to rise. (achieve formerly) it is reported, the price total of 23 areas achieved Tokyo to be able to buy the level of earth of complete United States at that time. And the bank serves as with the land that appreciates ceaselessly assure, borrow money in great quantities to debtor. Price rises the account face belongings that makes land possessory increases, stimulated consumptive appetite, brought about home to consume demand growth, spurred economic development further thereby. (achieve formerly) came 1985 1986, appreciate as yen quickness, although competition ability of international of day look forward to drops somewhat, but domestic congenial mood still enthusiastic. 1987, congenial activity affects full day is all industry. At that time, japanese government point of view thinks, want to upsurge to the demand of land only, so economy won't ebb, and the market also encourages people to buy a share ceaselessly, say the stock won't devalue from now on. Even day of intermediary names to give this kind of prosperity economic atmosphere, return collect to resemble the similar name such as cliff door boom, divine fierce boom. (achieve formerly) 1989, japanese bubble economy is achieved most peak, each economic norms reached unprecedented level. But because asset value rises,cannot get industrial prop up, alleged bubble economy begins undone. (achieve formerly) in March 1990, japan is released " about controlling land the regulation of relevant financing " , " regulation " undertook to land finance gross is controlled. This one urgent Buddhist templeput on the brakes is direct the bubble economy that the car causes Japan to already moved toward decline originally glides quickly, the extended credit system that causes core of economy of the Japan that prop up at the same time dies directly dish. The finance that bank of Japan of together with after this takes is constrictive policy, more the rupture that causes Japanese bubble economy quickly. (achieve formerly) from now on, quickness of Japanese land price drops, the loan that assures by land is back-to-back also appear great risk. Japan each are big bad loan exposes the bank in succession, day banking crisis is severe. (achieve formerly) as burst of foamy of economy of the Japan at the beginning of 90 time, japanese economy entered period of peaceful great depression, from now on Japan moved toward not to put in a road 's charge. In the future, summary viewpoint builds Japanese bubble economy with undone main reason end the error at Japanese macroscopical policy. (achieve formerly) nowadays, japan is a typical small appetite society. Youth or else is willing to give birth to the child, do not be willing to marry even; Grown man besides the job, the others time sees caricature pastime namely; A lot of people in the society are the zero hour work that taking day form; No matter the youth still is middleaged person, do not be willing to buy a house again; People life mood is very conservative...(achieve formerly) enlightenment: One, CPI of consumptive price index changes the formation of pair of bubble economy has conclusive effect; 2, false prosperity. Full banking policy is to cause bubble economy " prosperity " a main factor, be " the requirement that bubble makes " ; 3, superfluous flow. Price stability is the requirement that asset value bubble forms. (achieve formerly) summary: The purpose dissolves what contradict at the moment through producing false prosperity, can pull the issue more serious more only. (achieve formerly) lesson: One, exchange rate adjusts the bubble that cannot prevent economy to change; 2, stabilize in CPI period, should change when the bubble of heart asset more; 3, processing is good at the moment economic prosperity and economy last for a long time the relation between healthy progress. (achieve formerly) finally, although Japanese bubble economy already went a few years, but its cannot not call to common people a paragraph of bitter history lesson, it is an alarm bell grows more cry. If time can flow backwards, whether can Japan adopt a variety of hitting wisely to press foamy policy measure, where is the happening that shuns bubble economy?