This is definitely worth looking at deeper. I don't have the answers just questions about what made Japan different. Did they keep printing money/borrowing when they entered the death spiral (debt/GDP ratio >120%)? Did they have massive welfare programs? Did they have other massive spending by the government (military or number of government employees for example)? Did they have really high taxes? What makes Japan's circumstances different than our own, or in the past Argentina, or Greece, or <insert any nation that has had over 120% debt/GDP ratio in recent times here>.

I also think saying 29 of those years they were wrong is not accurate. The inflation hasn't been there BECAUSE the Fed kept it from happening. They've simply been letting the water build up behind the damn (while all tat printed money went to major companies and industries as the IOU was written in the taxpayer's name), and we're now at a point where there's no more road to kick the can down. We're at the end of the road. The debt/GDP ratio has been over 130% since 2020. That by definition means we're in an economic death spiral. That doesn't mean it's not reversible as other nations have demonstrated. Our death spiral becomes irreversible by 2028 and the nation insolvent by 2040 unless something out of the norm happens, like a balanced budget amendment, austerity, reduced spending, an increase in the GDP, the forgiving of our debt by China, all of the above. I'm pretty sure that's where The Great Reset was supposed to come in. I'm also pretty sure the banks aka the Market Makers were well aware of this timeline as stocks started ramping up for the biggest bubble ever a year before the debt was scheduled to breach 120% (the timeline has been public record since at least 2014 which is when I first saw it on CSPAN during the 2015 budget review meeting).