US must avoid Japanese economic mistakes

When I was in Tokyo at the end of January and the annual rumours about impending financial crisis were doing the rounds, a little joke was circulating at the expense of the Japanese ' Q: What's the difference between Japan and Argentina? A: Two years. Of course, the crisis was once again postponed and we look forward to next year's ' same time, same place. In this light, it is perhaps a little surprising to consider that the Japanese equity market is among this year's best performers. In fact, at the time of writing, it is the best performing major market. Sadly, this accolade comes...