If you’ve already watched Glenn Jacobs’s terrific speech on real economics, sit back for a 10-minute whirlwind tour through a country that has followed destructive, i.e., Keynesian/Krugman economic policies for the past 20 years (and is still following those policies). What’s really depressing is that the United States will be in infinitely worse shape as it follows the exact same central banking path to economic destruction because we have become a nation of credit card/debt junkies over the past few decades, unlike the savings-oriented Japanese.

“Welcome to Japan, Mr. Bernanke.”