A few weeks ago a gentleman emailed me in reference to our local tax assessment and started to throw around terms like "lost decade" and "deflationary trap." At that time I felt like a freshman in college taking a 300 level course in economics. Lost. I didn't really start to research the topic, but the fact that it has been mentioned in the past has made me more keen to it's presence in various online periodicals.
If you're not familar Japans economy suffered from these exact two things starting in the 1970's and has really failed to fully recover - read more. I didn't read that whole article but if it didn't make reference to the lost decade it refers to a time of little to no economic growth or change and high rates of unemployment.
Today I read a NY Times article by Paul Krugman suggesting that the United States may be headed for a similar scenario...it's either we head for a economy like Japan, like Greece, or a complicated disaster that is a dysfunctional combination of both.
I'm going to link to the article as compared to summarizing something I don't know much about. It's an interesting read. Link.
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