Where are the Japanese souplines? Many people always scream look out or we (the west) will be the next Japan... Why is this always portrayed as the ultimate disaster when it seems to me the effect of this downturn on households all in all remained relatively moderate.
In asia, unlike the west, going on benefits (if any exists) is considered a disgrace, most people rather commit suicide
There has been no 1930's depression in Japan. Yes, they've seen falling consumer prices, asset prices, and GDP, but maybe with the exception of asset prices, nothing like the 30's. Their unemployment rate has stayed way below 6% the whole time as I recall. Deflation rewards the prudent and will end when the bad loans and bad investments from the preceding boom are cleared from the system. Throwing other peoples money away on more useless projects just prolongs and deepens the deflation as Japan has found. The real depression will descend on the Japanese if they lose their savings that have financed their government and its useless stimulus policies, as a result of the Japanese government having to inflate its debt away.