“Opposition parties in Japan are blocking a deficit financing bill which would allow the government to continue to drive its debt levels above 200pc of GDP. If the opposition holds firm, the government has threatened the unthinkable – it will spend less. This is a turnaround for Japan. The nation’s government has already contorted itself in all the ways now common in the West while attempting to postpone this day. As in the West, the Japanese have stuck to the dogma of easy monetary policy to fight decline, and as in the West it has not worked. A decade of Quantitative Easing has done little to fight deflation and nothing to avert stagnation.”
Related posts:
Rest of World Begins to Catch Up to Daily Bell?
Why Bitcoin is poised to break out to all-time highs
How Does FATCA Impact You?
Bill Bonner: Why the “Shutdown” Critics Have It All Wrong…
If Syria Falls, Expect a Pop in Oil Prices
Michael Scheuer: In Mali, the interventionist establishment already is lying about “unintended conse...
Just as Happened in Europe, the VAT Is Becoming a Money Machine for Big Government in Japan
Bill Bonner: Does the Fed help make people better off?
Paul Craig Roberts: Spinning Bad Financial News Into Good
What Happens When You Tell Indians to Stop Buying Gold
Obama Administration Denies AP Requests For Syria Evidence
The Shearing of the Sheeple
Bill Bonner: The Virgin Central Banker
Glenn Greenwald: The crux of the NSA story in one phrase: 'collect it all'
Jacob Hornberger: The JFK Autopsy Cover-Up