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The Deflation Bogeyman
The Deflation Bogeyman BRUSSELS – Central banks throughout the developed world have been overwhelmed by the fear of deflation. They shouldn’t be: The fear is unfounded, and the obsession with it is damaging. Japan is a poster child for the fear. In 2013, decades of (gently) falling prices prompted the Bank of Japan to embark […]
Japan Prints Additional ¥10,000 Bills As People Scramble To Stash Away Cash
Japan Prints Additional ¥10,000 Bills As People Scramble To Stash Away Cash Long before negative interest rates shifted from the monetary twilight zone into the mainstream (with some 30% of global government bonds now trading with a subzero yield), one organization wrote a report warning about the dangers of NIRP. The NY Fed. Back in […]
Watch Japan – For All Is Not Well In The Land Of The Rising Sun
Watch Japan – For All Is Not Well In The Land Of The Rising Sun One of the epicenters of the global financial crisis that started during the second half of last year is Japan, and it looks like the markets in the land of the rising sun are entering yet another period of great […]
A Quarter Century Of Monetary Voodoo
A Quarter Century Of Monetary Voodoo A Witless Tool of the Deep State? Finance or politics? We don’t know which is jollier. The Republican presidential primary and Fed monetary policies seem to compete for headlines. Which can be most absurd? Which can be most outrageous? Which can get more page views? Politics, led by Donald J. […]
Keynes in 1939: The Coming War Will Solve our Unemployment Problem
Keynes in 1939: The Coming War Will Solve our Unemployment Problem On the eve of World War II, Keynes delivered the following chilling address on the BBC, talking about the “great experiment” of curing unemployment through war expenditure: J. M. Keynes, When the Day of Peace Comes Two years later to the day, in a lecture delivered shortly […]
The Trade Wars Begin: China Retaliates To Steel Tariffs With Global Anti-Dumping Duties
The Trade Wars Begin: China Retaliates To Steel Tariffs With Global Anti-Dumping Duties When looking back in history, December 23, 2015 may be the date the global trade wars officially began. On that day, as we reported at the time, the U.S. imposed a 256% tariff on Chinese steel imports. It did so perhaps with […]
Five Years After Fukushima, 16 U.S. Cleanup Ships Are Still Contaminated With Radiation
Five Years After Fukushima, 16 U.S. Cleanup Ships Are Still Contaminated With Radiation The Fukushima disaster was over five years ago, and may have been largely forgotten by the general public and the media (perhaps because the Japanese olympics are just four years from now), but its effects still linger. Perhaps nowhere more so than […]
Guessing the future without Say’s law
Guessing the future without Say’s law Or some reflections to read over the Easter holidays With Japanese and Eurozone interest rates becoming increasingly negative, and the Fed backing off from at least some of the planned increases in the Fed funds rate this year, economists are reassessing the interest rate outlook. Economists lack consensus, with […]
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves
Krugman Goes To Japan, Scolds Abe For Worrying About Quadrillion Yen Debt Pile, Leaves Much like BoJ governor Haruhiko Kuroda, Paul Krugman thinks that the key for Japan when it comes to overcoming decades of deflation is a positive outlook. “Japan needs to reach a point where everyone believes that it has pulled out of […]
Japan’s Finance Minister Accidentally Reveals How It All Ends: “War”
Japan’s Finance Minister Accidentally Reveals How It All Ends: “War” While this all started with a currency “war,” it seems – according to a stunningly candid transcript of Japan’s finance minister’s conversation with none other than Paul Krugman – that the real endgame here is actual war. Aso remarked that “a similar [deflationary mindset] had occurred in the […]
Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People
Japan Goes Full Krugman: Plans Un-Depositable, Non-Cash “Gift-Certificate” Money Drop To Young People The Swiss, the Finns, and the Ontarians may get their ‘Universal Basic Income’ but the Japanese are about to turn the Spinal Tap amplifier of extreme monetary experimentation to 11. Sankei reports, with no sourcing, that the Japanese government plans to unleash “vouchers” or “gift […]
Helicopter Money: Global Central Banks Consider Distributing Money Directly To The People
Helicopter Money: Global Central Banks Consider Distributing Money Directly To The People Should central banks create money out of thin air and give it directly to governments and average citizens? If you can believe it, this is now under serious consideration. Since 2008, global central banks have cut interest rates 637 times, they have injected […]
Economics Is Like A Religion – Just Faith In Theory
Economics Is Like A Religion – Just Faith In Theory Everyone is missing the serious problem that ultra-low interest rates have created for retirees. Pension funds are still assuming that future returns will be in the 7½–8% range. And as people get older and have no practical way to go back to work, pension funds […]
Over 3,000 tons of unregistered radioactive waste stored in Japan – report
Over 3,000 tons of unregistered radioactive waste stored in Japan – report © Toru Hanai / Reuters At least 3,100 tons of toxic waste lacking proper registration is being stored in Japan, local media report. Heaps of radioactive waste have been produced in the cleanup of the Fukushima nuclear power plant, but local officials are […]
