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The message was clear – deflation was the fault of Japan’s inadequately fertile womenfolk, not the elite officials of the central bank
The message was clear – deflation was the fault of Japan’s inadequately fertile womenfolk, not the elite officials of the central bank
They walk in cool and confident, armed with their PowerPoint presentations. They leave town horizontal, soaked in red ink.
Only right-wing nationalists, communists and neo-pagans dare propose the time-honoured method of regaining lost competitiveness
The Greeks could do us all a favour by voting Trotskyite and neo-pagan and thus ending a saga that could go on for decades.
The bond market vigilantes appear to have gone as quiet as the sound of one hand clapping.
Sinatra would disagree, but the answer is not New York. Despite the Olympic hoopla, London is not calling and neither is Paris
Long ago my father used to tell a joke that went like this – What is the definition of heaven? To have an American salary, a British house, a Chinese cook and a Japanese wife. What is the definition of hell? To have a Chinese salary, a Japanese house, a British cook and an American wife
The Bank of Japan’s decision to adopt an inflation target and double its bond purchases completes the global flight to soft money.
The road to fiscal hell is sometimes paved with the best intentions. As Europe’s politicians seek to win electorates round to brutal budget cuts, they would do well to look to the experience of Japan.
It wasn’t supposed to happen this way. The biggest surprise for equity investors in 2011 was not the weakness of the crisis-ravaged European markets, but the carnage in the stock markets of the emerging economies.