“There seems to be a sense of fatalism. The B.O.J. continues to play the same old game of making incremental, but ultimately meaningless, policy changes in response to political pressure,” said Richard Jerram, economist for Japan at the global investment bank, Macquarie.
“The government talks of the need for fiscal reconstruction, but then tries to construct an economic stimulus package with tiny fiscal measures and minor, uncoordinated structural reforms,” Mr. Jerram said. Intervention in the currency markets “looks necessary, but is absent,” he said. NYT
Why not? The country is run about the same as some of the domestic-only countries. A new or different idea could cause confusion and may require someone in a high position to admit that they haven't now, nor have they ever had, a clue of what they are doing.
What's up with the BOJs latest plan for easing its easy monetary policy? If nobody wants to borrow what good does more money to lend do? Didn't Einstein define insanity as doing the same thing over and over again and expecting different results? Or does anyone really expect different results?
When reading about the economy in the US and that in Japan one runs a serious risk of depression other than economic.
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