Turning Japanese

the future of the U.S., in pictures (click on each for larger version):

1) Japan's nominal GDP in 2010 at 1992 levels
2) 15 years of Japanese deflation

3) 13yrs of flat consumption and downward real estate prices

4) positive money supply growth offset by declining multiplier and velocity

5) lots of volatility in equities, but long bear market; BoJ, once under 1%, stays under 1%; 10yr yield under 2% for a decade