Jan 31, 2013 3:53 PM
We imitated Japan's demographic profile, Japan's policy of supporting zombies that are "too big to fail," Japan's efforts to stimulate its economy, and Japan's credit binge, and guess what? We are getting the same results as Japan: long-term stagnation. Inasmuch as the GOP would probably not have what it takes to cut spending, to let the zombies fail, and to let the market clear, even if somehow they got back into power, the best case that we can anticipate is that the kind of economy that we have now is going to be with us for at least a generation. Plan accordingly.