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The Bank of Japan’s decision to adopt an inflation target and double its bond purchases completes the global flight to soft money.
The Bank of Japan’s decision to adopt an inflation target and double its bond purchases completes the global flight to soft money.
Imagine the US economy shrinking by 30% over the past four years, the Chinese economy growing at 2%, not 10%. Imagine UK house prices down 60% and commodity prices sliding back to the levels of the mid-1970s.