
Clarmond Bank: Central Banks Will Unleash an Orgy of Blood [pdf] - randomname2
http://clarmond.co.uk/clarmond/October_2017_Market_Comment__An_Orgy_of_Blood_files/An%20Orgy%20of%20Blood.pdf
======
wahern

      He placated the nationalists by championing massive deficit
      financing, via the BOJ, to pull Japan out of its economic
      morass. Japan's economy soon embarked on a period of
      economic growth with stable prices, full employment and
      humming factories, an "economic nirvana." Seven decades
      later these results were heralded a success by another
      central banker trying a similar trick - Ben Bernanke.
    

The cynicism and skepticism feels very contrived here. Seven decades of
nirvana is better than the three decades of comparable nirvana American
policies achieved between 1950 and 1980, and few economists criticize post-
WWII-era American economic policy as being short-sighted or a one-way trip
toward a dystopian future.

And of course, despite Japan's financial malaise, their quality of life is
arguably on-the-whole better than in the U.S. It's hard to make direct
comparisons of outcomes--let alone comparisons regarding policy efficacy--but
I think it suffices to point out that Japan is hardly a failing system. In
fact, some would argue that it's an outright myth, a failure to reframe
expectations in the context of an advanced economy.
[https://www.forbes.com/sites/eamonnfingleton/2013/02/06/paul...](https://www.forbes.com/sites/eamonnfingleton/2013/02/06/paul-
krugman-says-it-again-japans-stagnation-is-a-myth)

