Maybe It Ain't Deja vu All Over Again, Yogi by William Pesek Jr.

Nor can the U.S. glean much insight from Japan's post-bubble experience. A key reason: Japan's debt excesses were concentrated in the corporate sector, while U.S. debt is mostly among consumers.

``the saving-short, asset-dependent, and overly-indebted American consumer looks to be in much worse shape than the Japanese consumer was in the latter half of the 1980s. Largely for those reasons, I would argue that the travails of post- bubble Japan may well provide few clues into what lies ahead for the U.S. economy.''

posted by SARTRE @ 8/03/2005 08:29:00 AM