Good morning. Unhedged has long depended on the work of Matt Klein, mastermind of The Overshoot, a Substack covering “the intersection of economics, finance, business, and public policy,” as well as the author (with Michael Pettis) of the award-winning book Trade Wars Are Class Wars. It’s great fun to have him join us today for a discussion of the puzzle of Japan’s economy and markets. We’re keen to hear your thoughts, too: