Global Inflation In Japan Does Not Speak German

“The BOJ’s move injects a large amount of money into the Japanese economy — known as quantitative easing.”

Not a single thing in that sentence is true, right down the well-established proof this stupid thing is neither quantitative nor easing. As I wrote earlier this year “celebrating” its 20th anniversary:

The fact that this “had not been sufficiently discussed”, in the official recollection of Ms. Shinotsuka’s words, is a huge red flag – one implicating obvious desperation. They didn’t know what else to do, so they flung QE against the wall hoping it would stick.

It never once has stuck, but they’re still flinging away anyway a fifth of a century later. Maybe desperately chucking up bank reserves is a German play for: we really don’t know what we are doing.

Fine, but to then believe that something has significantly changed, inflationary changed, in 2021 in any place around the world is belied by every single bit of evidence and outcome, all summed up to the simple sad truth nothing actually has. That’s the problem as well as the answer.

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Disclosure: This material has been distributed for informational purposes only. It is the opinion of the author and should not be considered as investment advice or a recommendation of any ...

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