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Olduvai III: Catacylsm
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Kuroda’s NIRP Backlash – Japanese Interbank Lending Crashes

Kuroda’s NIRP Backlash – Japanese Interbank Lending Crashes Not only has the Yen strengthened and stocks collapsed since BoJ’s Kuroda descended into NIRP lunacy but, in a dramatic shift that threatens the entire transmission mechanism of negative-rate stimulus, Japanese banks (whether fearing counterparty risk or already over-burdened) have almost entirely stopped lending to one another. Confusion reigns everywhere […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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