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08.07.26 - 01:21
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Japan′s Keynesian Mirage: How Debt, Inflation, & A Collapsing Yen Expose A Failed Model (ZeroHedge)
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Japan's Keynesian Mirage: How Debt, Inflation, & A Collapsing Yen Expose A Failed Model
Authored by Daniel Lacalle,
Japan's yen crisis exposes the long‑running failure of the Keynesian strategy that has dominated the country's economic policy: chronic deficits, exploding public debt, and engineered inflation are now eroding Japan's purchasing power, competitiveness, and monetary stability.
For decades, many mainstream analysts pointed to Japan as proof that a rich, “monetarily sovereign” country could keep an extremely high public debt without relevant consequences. The argument was simple: as long as the state can issue its currency, it can always print whatever is needed to cover deficits, refinance debt, and support public spending.
In reality, that has meant public debt soaring to around 250% of GDP, one of the highest levels in the developed world, while repeatedly increasing government expenditure and leaving large, persistent deficits. Even the IMF notes that, even after sev...
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07.07.26 - 19:06
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1 Year Inflation Expectations Jump To 3 Year High In Latest NY Fed Consumer Survey (ZeroHedge)
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1 Year Inflation Expectations Jump To 3 Year High In Latest NY Fed Consumer Survey
Inflation as measured by the CPI may have peaked, but Americans' expectations for inflation over the near and medium term rose notably in June according to a Federal Reserve Bank of New York survey released Tuesday, with strong increases anticipated for medical care costs and rent,
Consumers now see inflation at 3.7% over the next year, up from 3.5% in May, the highest since September 2023. Expectations for inflation in three years increased to 3.3%, the highest since June 2022, up from 3.1%, while estimates for inflation in five years remained steady at 3%.
After months of facing higher energy costs, consumers said they see gas prices rising at the lowest rate since mid-2022. Their outlook for food prices also improved slightly in June, though households expect higher bills for medical care and rent. As shown below, median year-ahead commodity price change expectations increased by 0.5% point for the cost of...
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