One of the most important coffee markets in the world, Japan imports more than 930 million pounds of it each year — more than France, less than Italy. It’s not a fad. There are coffee shops in Japan that date to at least the 1940s and traditions that reach back even further; it’s a culture […]
…staring in 2000, the BOJ nearly doubled monetary base over a period of 3 years. And the money just sat there. Banks did not, in fact, expand loans. In fact, Japan’s experience is a key element of the case against monetarism. Just printing notes does not work when you’re in a liquidity trap. From Friedman On Japan […]
“I thought America had studied Japan’s failures,” said Hirofumi Gomi, a top official at Japan’s Financial Services Agency during the crisis. “Why is it making the same mistakes?” From Lessons From Japan in Stemming a Crisis – NYTimes.com Good question.