Explain what happened to Japan's economy during the 1980's and early 1990's. How does this compare to the economy of the United States today?

I think this is a good explanation.

Explanation:

Economist Richard Koo wrote that Japan's "Great Recession" that began in 1990 was a "balance sheet recession". It was triggered by a collapse in land and stock prices, which caused Japanese firms to become insolvent, meaning their assets were worth less than their liabilities.