They have done Keynesian deficit financing. They have done a lot of the right things. We tend to forget that. The fear for us is that if it can happen in Japan, it could happen here for other reasons that we do not understand. But now, they cannot increase their exports.
People save too much.
So the government runs a deficit. The economy still doesn't work because people save more than the government can prudently spend. Now, that isn't going to happen in the United States. But you should ask yourself whether we don't have some different, insoluble problem. That is what worries me.