Bad collective memory - not just us
Looks like the Japanese government is stuck on stupid too -- from
Reuters:
BOJ to pump $1.4 trillion into economy in unprecedented stimulus
The Bank of Japan unleashed the world's most intense burst of monetary stimulus on Thursday, promising to inject about $1.4 trillion into the economy in less than two years, a radical gamble that sent the yen reeling and bond yields to record lows.
New Governor Haruhiko Kuroda committed the BOJ to open-ended asset buying and said the monetary base would nearly double to 270 trillion yen ($2.9 trillion) by the end of 2014, a dose of shock therapy officials hope will end two decades of stagnation.
Governor Kuroda needs to understand that John Maynard Keynes' ideas are toxic to large economies.
Suck it up hippies -- capitalism works, nothing else does as well over the long term.
The history books are very clear on this...
Posted by DaveH at April 4, 2013 12:26 PM