Richard Koo: Balance Sheet Recession

Richard C. Koo, Chief Economist at Nomura Research Institute gave a speech at the Institute for New Economic Thinking's inaugural conference entitled "The Age of Balance Sheet Recessions: What Post-2008 U.S., Europe and China Can Learn from Japan 1990-2005". The video and PowerPoint below offer fascinating insights into the current economic situation in the United States. I admit I have been ignorant of many of these concepts and I have started to see our situation in a new light.