Only if you ignore the years previous to the economic crisis ( ie the proximate cause of the crisis in the first place
Things just dont happen
An economic crisis, just does not happen out of the blue. It has causes that lead up to the crisis. In Japan it was the massive bubble in the stock market, the propery market, that when bursting caused a massive economic slowdown as wealth was destroyed and debt to assets increased. The boom times during a bubble make those times seem good (1920's, Japan in the 80s, the US in the 90s etc). Those economic periods are not examples of economic strenght, but of economic folly. Give a 15 year old girl a credit card and she will live the high life, and all will seem good untill the bills come due. To state the problems started when the bill comes due is idiotic, the problems started when the bill was being rung up, not after
The 20s, Japan in the 80s the US, UK, Ireland, Iceland, the Baltics etc all rung up high credit card bills during the 2000's and life seemed good, Now the bill comes due, and life sucks. The problem is not that the bill came due, but that it was rung up in the first place