Photo: Deutsche Bank
The hottest question of the moment: Is the US economy Japan all over again?Are we headed into a multi-decade slumber characterised by ongoing credit contraction, anemic growth, and again?
Right now there are certainly plenty of Japanese echoes.
But as Deutsche Bank points out in a new note, there are many differences.
The common theme: We’re actually not that bad with regard to extending and pretending. We’ve taken our lumps in some areas, and acted aggressively elsewhere.