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by throw0101a
1481 days ago
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> This is actually a picture of national failure, tantamount to celebrating a blowout losing scoreboard. It is not a model for others to copy. It's "losing" because Japan wants inflation. They've had the opposite problem the rest of the planet has. Inflation (generally) means there's some kind of economic activity. I'm well aware of Krugman's thoughts on Japan. See his 1998 paper: * https://www.brookings.edu/bpea-articles/its-baaack-japans-sl... My post is a counter-point that somehow a global economy (always) means that central banks can't do anything. Just compare the US and the EU in the 2010s, and you'll see different trajectories. |
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