Japan’s Massive Return On Public Investment
It’s argued that Japan didn’t get a return of all its deficit spending in the decades after its epic financial bubbles burst. This could not be further from the truth. […]
Self-defeating austerity?
Their argument is that in the current environment of near-zero interest rates, fiscal deficits are unusually cheap to finance and monetary policy is not going to move to offset much […]
A world of cheap money: Six years of low interest rates in search of some growth | The Economist
And not only are government-bond yields low: given the high debt-to-GDP ratios of many nations, they aren’t even all that safe. In the joke of Jim Grant, who writes a […]
Like diamonds, bond purchases are forever..
Today’s QE relies on pushing down borrowing costs. It is “creditism”. That is a very blunt tool in a deleveraging bust when nobody wants to borrow. via Like diamonds, bond […]
Helicopter Money, The Logical Conclusion Of Demand Management?
“If central banks bring interest rates down to almost zero and nothing happens then it is not an ordinary world.” Richard Koo from Nomura via Helicopter Money, The Logical Conclusion […]