Can the U.S. Avoid Japan's Lost Decade?

The U.S. financial rescue needs to be built for speed according to new Treasury Secretary Timothy Geithner, so reports the Wall Street Journal's Michael Phillips in an online article tonight that we'll bet is in Wednesday's paper. You need to read this and understand it.

Here's why you care: The Japanese call it the "Lost Decade." What they're talking about is the 10 plus years following Japan's real estate, and subsequent stock market, bubble bursting. As we noted in yesterday's posting the news that Secretary Geithner plans to unveil the financial rescue game plan next week means trial balloons between now and then. Tonight's Phillips article looks like Treasury is framing one of the key issues: the length of the recovery. For those who make it their business to track markets Japan's Lost Decade is a real fear. Phillips' article does a good job of explaining what it all means, so we don't have to. Go read it and be ahead of the curve.