The Weight of the Yen

"Murphy draws on an impressive array of skills and experience in crafting his narrative of America's troubled economic relationship with its largest trading partner."—Clay Chandler, Washington Post In eight years from 1980 to 1988, America fell from financial grace, becoming the world's largest debtor. This happened because the United States spent and Japan saved. In the early 1980s, Reagan's Washington discovered that Japan would cheerfully lend their vast savings to the United States by b...