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Monday, November 03, 2014

Bank Of Japan Still On The Wrong Path

Monday’s stock markets around the world were given a probably temporary bump upwards by Japan’s central bank’s announcement that it was swallowing the Federal Reserve Bernanke pig whole. The Bank of Japan revised its QE3-style fiat money creation target sharply upward.

For an explanation read this article, published in 2002, but still on target.


After decades of “miracle” economic growth since World War II, Japan’s economy abruptly faltered in 1990 and has stagnated since. Why? Neither the Keynesian nor Monetarist explanations can provide an account. Only the Austrian theory of the business cycle provides the explanation.

Posted by Thomas E. Brewton on 11/03 at 02:48 PM
Economics • (9) Comments
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