The 1980s were the apex of Japanese culture and economic might. Back then, Japan’s economy was growing so fast, it was thought they would overtake the US. But that all came to a screeching halt. Truth is, Japan’s meteoric rise was fueled by an epic lending bubble. Similar to the Roaring 20s in America.
And when the bubble popped, the government launched massive and misguided measures that set Japan back decades. Their economy hasn’t expanded since. They are stuck in the 1980s. There’s been no growth for 30 years. And as Mike Maloney and Harry Dent explain, the United States could be going down the same path...
"For more than 20 years now, Japan has proved that Keynesian economics does not work... they've tried to print their way to prosperity... and failed...they didn't let the reset happen..."
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