I’m surprised Japan survived this long. When I lived there in the early 2000’s, the economy was flatlining along just as it is today. Some reasons for their survival has been ZERO interest and the Japanese propensity to consume like crazy. When the shoe ultimately does drop, however, the Japanese will be better prepared than Europe or America due to everyone having a hesokuri (secret saving stash) to draw from.
Japan can experience a financial meltdown, and when all is said and done, it will still be “Japan”.
That’s because the Japanese still protect their ethnic and national heritage — it’s almost impossible for anyone not born Japanese to become a Japanese citizen.
That isn’t going to be the same here in The West (North America or Western Europe). We will be in far worse trouble because we are no longer ethnically unified nations.
During and after the collapse, Japan will remain an ordered and civilized society. If there is any doubt about this, witness the behavior of the Japanese people after the earthquake and tsunami.
However, what will happen here, in places like California, Illinois, and New York?