But official forecasts by the Office for Budget Responsibility for any kind of meaningful economic recovery in the UK are predicated on that household indebtedness rising back to around 180% of disposable in the coming few years.

BBC: How to catch a falling knife

He observes that prices for many commodities are already near all-time highs, even with "kind of a soft recovery" in the U.S. and Europe, and robust growth in Asia.

WSJ: The Weekend Interview with Paul Singer: Mega-Banks and the Next Financial Crisis

Of course an easy way to invest in any kind of Japanese stock market recovery is by purchasing share of iShares MSCI Japan Index fund ( EWJ), which is down about 1% so far this year.

FORBES: Jeremy Grantham Warns 2013 Will Be A Dangerous Year For Stocks

After a recession-induced big bear market and partial recovery over the next 21 months, stocks encountered an entirely new kind of trouble in 1939.

FORBES: Anticipate the V

And that is the kind of big, significant move in the economy that can have ripple effects and help a recovery take off.

WHITEHOUSE: President Obama at LinkedIn Town Hall