>we've got to get them back somewhere near historic normals at some point.
Not a monetary expert here, but do we? Japan has been at zero/near zero since the mid 90s.
Not a monetary expert here, but do we? Japan has been at zero/near zero since the mid 90s.
I only know the major bullet points though, and I haven't found this terribly easy to parse myself. I'm also quite confident that stagnation in the US would manifest differently (not that it must but that it would) so this is really just overall curiosity.
[0]https://www.oecdbetterlifeindex.org/countries/japan/ [1]https://www.oecdbetterlifeindex.org/countries/united-states/
That's a pretty ungenerous response when I was asking in good faith to understand, even expressing my own ignorance. I only know people that hold dual citizenship, and their experience of Japan certainly isn't some big step down from the US.
However, the world isn't equal, nor is the wealth equally distributed. If all of the rich, developed world was to slow down and become stagnant like Japan, where will the demand for goods and commodities made by the developing world come from?
Huge western demand helped lift hundreds of millions in China and India out of poverty, for instance.
Stagnant growth might be good for an individual country, but it can doom developing countries to similar stagnancy.