America in A Recession

The United States is now in a recession. Is it just like the past experience of Japan's slump in the 1990s?

“It certainly appears that the U.S. productivity miracle is over, ..... Our resilience as an economy is way down. So it looks like the United States will experience a milder version of the Japanese disease.” Kenneth S. Rogoff (Harvard University)

“The United States is moving faster than the Japanese did,......So far, so good. But American policy makers have to be ready to take further steps as needed.” Charles Yuji Horioka (Osaka University)