As North America moves near zero (ZIRP) and possibly negative policy rates (NIRP) in the months ahead, Japan remains the leading test case for these experiments, and investors would be wise to take note. After nearly 30 years of zero and negative interest rates and asset buying by the Bank of Japan, government debt has topped 250% while the economy has flatlined and the Nikkei 225 stock index remains 45% lower than it peaked in 1989. Meanwhile, the viability of retirement, pensions, life insurance companies and Japanese banks has steadily eroded. For the latest see