By KEN BELSON
TRADERS here are fond of joking that no one has lost money betting against Japan since the collapse of the bubble economy of the 1980s.
More than two decades later, the Nikkei 225 stock index is still three-quarters off of its peak. And the economy has been hit by blow after blow, from sagging property prices to mounting debts and intensifying competition from China.
Add an aging population, a lack of jobs for college graduates and persistent deflation and you can see why Japan’s so-called lost decade is a misnomer. Japan has lost decades — plural, not singular.
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That sounds eerily like what is happening in the US.
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