This entry was posted on Monday, May 7th, 2012 at 12:14 pm and is filed under Japan.
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Every time I speak with someone and challenge their assumptions that we’re going broke and it will ultimately drive our rates higher, they claim that it will happen when we no longer have the reserve currency. Hmmm…how do they explain Japan? Oh…most of their debt is held domestically. I wonder where those Japanese citizens got the money to hold it?
People continue to talk about the differences between the US and Japan but the US yield curve is a steamroller (like Japan) that will not stop til you see a major shift in economic policy and it seems we are far from there.
Warren, do you see any positives / negatives from the socialist win in France. Clearly they are against austerity and talk of Eurobonds but do you see this coming to anything meaningful or is Germany just too strong. Thanks
I think that Central Bankers are planning to transform 2012/2022
live 1972/1892 … High Managed Inflation & Real Interest Negative
to de-valuate the Over-Debt (Public+Private) that it’s IMPOSSIBLE to re-pay with Standard Policy (Cuts&Tax).. the only other scenario is Chain-Default (first Europe, but then Us/Gbp/Jpy)..
PS: and may be the Stocks will re-peat the ’70 decade.. Nominal that doesn’t deep under the ’80 … with Real that deep under ’80..