The US is not Japan, JP Morgan argues

MADRID | Three years have passed since the US took hold in mid-2009 of something of an economic recovery. The green in the green shoots has been paler than first thought, though. JP Morgan analysts in Spain released today a note saying that, by GDP per capita standards, we are witnesses of the weakest rebound the US has lived since World War Second.

In the JP Morgan chart, populations has been normalised to avoid distortions from inhabitant increases in the 1970s and 1980s, which would paint an even gloomier picture.

The argument that links to Japan is one of hopelessness. Japan suffered a recession between 1991 and 1993, and as a consequence it followed the so-called lost decade. But the US is doing a worse job than Japan did after its general crisis.

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