<![CDATA[RealClearPolitics - Articles by James Ledbetter]]>http://www.realclearpolitics.com/authors/?id=21360Author <![CDATA[No, We're Not Turning Into Japan]]> Thu, 19 Aug 2010 00:00:00 -0500 The American economy isn't turning into a version of Japan's.The notion that the U.S. recession will turn us into Japan emerged immediately after the September 2008 bankruptcy of Lehman Brothers, and has proved to be one stubborn meme. You might think that the actual growth of the U.S. economy over the last four quarters would dampen the Japan talk, but you would be wrong. The anticipation of a double-dip recession, the persistence of high unemployment, and the overhyped deflation fears have resuscitated the Japan monster like yet one more Godzilla remake.

It's tiresome to have to say it, but the Japan comparison is very weak. Until the economy really feels like it's recovered,...]]>