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08.07.26 - 02:24
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Japan May Current Account Surplus Y3.968 Trillion (AFX)
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TOKYO (dpa-AFX) - Japan posted a current account surplus of $3.968 trillion yen in May, the Ministry of Finance said on Wednesday.That missed expectations for a surplus of 4.121 trillion yen and w......
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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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