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Japan’s quadrillion yen question
Not a milestone to rejoice in. Japan’s debt has tipped into the “quadrillion” zone for the first time. That is, as of the end of June, central government debt, looked like this: Y1,008,628,100,000,000,...
View ArticleJackson Hole 2013 – A high unemployment equilibrium?
For the last three years, there has been no breakfast for journalists on the opening day of Jackson Hole, while we write up a dramatic, market-moving speech by Ben Bernanke. It’s a more sedate start...
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Japan’s inflation expectations: glass half empty?
“Inflation expectations appear to be rising on the whole.” Check out the last 11 policy statements from the Bank of Japan: you’ll find the same line, an upgrade from a milder assertion about “some...
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