The folks over at BusinessInsider were kind enough to post the presentation from Nomura Chief Economist Richard Koo’s speech to George Soros’ Institute for New Economic Thinking this weekend. The presentation lays out in clear detail how the U.S. and Europe are in the midst of a balance sheet recession.
Koo draws comparisons between the Japanese example, exhibited from 1990-2005, and what the U.S. and Europe are about to experience.
This presentation is required reading if you want to get an ideas of where we are headed based on Japan’s 15-year economic slumber. Or maybe not.
Gary Haubold does a great job of casting doubt on Koo’s analysis in his post A Rebuttal To Richard Koo: Why The US Is Not Inevitably The Next Japan.
Are we headed down the same path as Japan? What do you think?