I have been saying for 5 years the US would follow the path of Japan. An interesting chart in the New York Times shows this is indeed what has happened.
Following Japan’s Path, So Far
In the United States, the core consumer price index, which excludes food and energy prices, rose 0.6 percent in the 12 months through October. That was the smallest 12-month gain since government calculating the figure in the 1950’s. The chart shows the 12-month changes in core CPI for the US and Japan, in the years before and after housing prices peaked in each country.
….read much more HERE