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Non-NEC Console Related Discussion => Chit-Chat => Topic started by: Nando on April 22, 2013, 07:56:19 AM
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Seeing how our economy seems to follow theirs...
http://www.peakprosperity.com/blog/81469/japan-vs-newton-and-certain-lose
Conventional thinking and reporting has it that Japan is conducting a larger version of the same monetary experiment they’ve been running for about 15 years. The implication here is that we can safely analyze what Japan is up to through the same monetary lens, as always, but with a slightly wider aperture.
By now, we are all familiar with the details. Japan has initiated a program of monetary expansion that goes by the shorthand of 2-2-2. In two years, the Bank of Japan (BoJ) will fully double the monetary base as it seeks a minimum of 2% inflation.
In the aftermath of this announcement, the yen weakened by a whopping 8% against the dollar, the Nikkei stock average vaulted up by roughly 10%, and the $10 trillion Japanese government bond market had to be frozen twice because of intense volatility.
In truth, what Japan is running is as much a massive social experiment as it is a monetary experiment. It has such enormous implications to everyone, but especially the Japanese people, that we should all be paying very close attention.
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Good thing my entire estate is invested in bitcoins.
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Good thing my entire estate is invested in bitcoins.
I was surprised to have seen it mentioned on main stream news recently. Apparently the Olympic rowing Facebook twins are doing something with them as well.
We'll see how it plays out for importers. Not good for us, the consumer, I would imagine.
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I don't care about or believe in most economic theory, scientifically, historically, morally. I will say though that I'm really glad we're back to 99yen to the dollar again. That shit was getting ridiculous.