{"id":3637,"date":"2014-12-28T14:42:12","date_gmt":"2014-12-28T19:42:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=3637"},"modified":"2014-12-28T14:42:12","modified_gmt":"2014-12-28T19:42:12","slug":"the-keynesian-end-game-crystalizes-in-japans-monetary-madness-david-stockmans-contra-corner","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=3637","title":{"rendered":"The Keynesian End Game Crystalizes In Japan\u2019s Monetary Madness | David Stockman’s Contra Corner"},"content":{"rendered":"

The Keynesian End Game Crystalizes In Japan\u2019s Monetary Madness | David Stockman’s Contra Corner<\/a>.<\/p>\n

If the BOJ\u2019s mad money printers\u00a0were treated as monetary pariahs by the rest of the world, it would at least\u00a0imply that a modicum of sanity remains on the planet.\u00a0But just the opposite is the case.\u00a0Establishment\u00a0institutions like the IMF, the US treasury and the other\u00a0major central banks urge them on, while the Keynesian arson squad led by Professor Krugman actually\u00a0faults\u00a0Japan for being too tepid with its \u201cstimulus\u201d.<\/p>\n

Now comes\u00a0several new\u00a0data points that absolutely\u00a0confirm Japan is a financial mad house\u2014-even as its policy model is embraced by mainstream officials and analysts peering from a distance. Front and center is the newly reported fact from\u00a0the Cabinet Office that Japan\u2019s household savings rate plunged to minus 1.3% in the most recent fiscal year, thereby entering negative territory for the first time since records were started in 1955.<\/p>\n

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Indeed, Japan had been heralded as a nation of savers only a generation ago. During the era before\u00a0it\u2019s plunge into bubble finance in the late 1980s,\u00a0households\u00a0routinely saved 15-25% of\u00a0income. But after\u00a0nearly three decades of Keynesian policies,\u00a0Japan has\u00a0now stumbled into an insuperable demographic\/financial trap; and one that\u00a0is unusually transparent and\u00a0rigidly delineated,\u00a0to boot.<\/p>\n

<\/p>\n

<\/a><\/a>…click on the above link to read the rest of the article…<\/span><\/span><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Keynesian End Game Crystalizes In Japan\u2019s Monetary Madness | David Stockman’s Contra Corner. If the BOJ\u2019s mad money printers\u00a0were treated as monetary pariahs by the rest of the world, it would at least\u00a0imply that a modicum of sanity remains on the planet.\u00a0But just the opposite is the case.\u00a0Establishment\u00a0institutions like the IMF, the US treasury […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[57,418,452,534,2202],"class_list":["post-3637","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-japan","tag-imf","tag-japan","tag-monetary-policy","tag-us-treasury"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3637"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3637\/revisions"}],"predecessor-version":[{"id":3638,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/3637\/revisions\/3638"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}