… Not for the squeamish or faint of heart.
A few days ago, I attended the Keizai Society’s panel presentation “Recovering from Recession“. The panelists did an excellent job in interpreting the current economic data and both the short and long term issues. In addition, they cited lessons learned from Japan’s Lost Decade and how it applies to our current situation. The good news is we did learn a lot from their Lost Decade and other recessions; the bad news is that things are going to look gloomy for some time!
Dr. Daniel Okimoto, a Stanford University professor, who is Director Emeritus, Shorenstein Asia-Pacific Research Center (APARC) started the evening. Even though many of the issues he raised were not “new-news”, Dr. Okimoto did an excellent job of putting them in perspective to describe the current situation.
Here are highlights of his presentation followed by some of my own analysis: