This is a must listen presentation here by Richard Koo. He describes the similarities between the Japanese de-leveraging and the current de-leveraging cycle in the U.S. Readers can find some of my work on Koo and de-leveraging here & here. (Thanks to reader DanH for sending this our way).
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.