Paul Krugman Says It Again: Japan's Stagnation Is A Myth - Forbes

Paul Krugman Says It Again: Japan's Stagnation Is A Myth - Forbes:

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snip

Not only is he right in dismissing the basket case story but if you look at the aggregates that matter  to Japanese policymakers, it is clear that Japan has done far better than the United States over the last two decades. For a start Japan has increased its net overseas assets by nearly $3 trillion — at a time when the United States’s net overseas LIABILITIES ballooned by $8 trillion. Underlying this contrasting trajectory is the fact that Japan ranks with Germanyas the only major advanced nations with super-strong  current account surpluses (the current account is the widest measure of trade and is not affected by the distortions caused by rampant transfer pricing, which have disguised the strength of Japan’s visible trade in recent years).

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this includes us t-bonds