In Case You Didn't Think We Were Turning Japanese...


The US market no longer resembles the Nikkei, but the risk of a multi-decade Japanese deflationary recession persists.

In his latest daily note, David Rosenberg presents 6 signs that the US is turning Japanese.

The comparisons range from housing to bond yields to government spending and demographics.

Housing looks very similar

The shape of the credit bubble is very similar

T-Bill yields going towards nothing.

Check out central bank balance sheets

Government spending: bingo

What deleveraging looks like

Sure, you get tiny recoveries here and there

But this is a long process.

An yeah, the Demographics of the US aren't so hot...

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