"The enormous insolvencies and policy errors Japan endured in the 1990s are not being repeated, so we do not see many parallels between them and what everyone is experiencing today," he said.
The problems in the US are bad, worse than in decades. But they probably won't be as bad as what happened in Japan and it will be nowhere near as bad as it was in the Great Depression. People and the media need to stop throwing around the big D word because it is not going to happen and only creates more fear. But of course fear is what sells newspapers.