Are we all Japanese now?

At times of stress investors tend to ask more questions. Recently, they have evolved from “Are we in recession?” through “How long will the slowdown last?” towards “Are we entering a lost decade?”. Comparisons are increasingly being made with the well known and long lasting difficulties facing Japan. For years academics and commentators argued that its problems were unique and could not be replicated in the West. Today, when UK government bond yields are the lowest since the reign of Queen Victoria, and public statements from eminent economists show their concern, the issue needs care...