Barron's covers may espouse one thing, but a few smart-guy economists such as Nomura's Richard Koo better understand our current balance sheet recession/depression. Don't believe the hype. Believe Koo. He truly understands today's U.S. economy after first-hand experience in Japan a decade ago where many of the same macro-pump-priming tricks were tried.

This month's subscriber-only article discussing Koo's views may be accessed by subscribers by clicking here.

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