“Japan appears to be turning an economic corner.” - US Treasury Secretary Jack Lew Japan hasn’t turned the corner. Japan is merely doing what it’s been doing for the better part of the last 15 years, fumbling around with interest rates, fiscal stimulus, and goofy monetary policies in order to siphon more wealth from the working class, juice stock prices, boost corporate profits and keep its politically-connected zombie companies from declaring bankruptcy. Abenomics is just the latest permutation of this ongoing trend, just old wine in new bottles.
Posted on: Wed, 13 Nov 2013 00:56:52 +0000
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