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Recent Posts

Japan's Big Stimulus to Fight Deflation Risk | Musings from the Chiefio

Faced with fresh evidence that Prime Minister Shinzo Abe 's campaign to end the country's long bout with deflation was faltering, the two institutions steered Japanese economic policy into the uncharted territory of [...]

GaveKal Capital: Excluding Tax Increase, Japanese Consumer …

Excluding Tax Increase, Japanese Consumer Prices Are Already Back in Deflation . The recent sales tax increase in Japan is wreaking havoc with price statistics, making year-over-year comparisons basically [...]

real economics: Bank of Japan is serious about ending deflation

PM Abe is serious about his plans to end Japan's economic woes. After all, any country that works as hard as the Japanese and produce so much excellence SHOULD be prosperous. If they are not, it is obvious that … [...]

Jubilee! | Economic Undertow

Toil has produced the requisite 1000 words and time will tell whether it will appear @ URPE or not. If not I will post it here (I will post it here, regardless). Here are Professor Keen's 1000 words: Steve Keen (Debt Deflation ) … behind this correlation is that money is created “endogenously” when the banking sector creates loans, and this newly created money adds to aggregate demand—as argued by non-orthodox economists from Schumpeter through to Minsky [...]

Ea O Ka Aina: Inflation Good? Deflation bad?

Indeed, by many measures, Japan has been in deflation for over 20 years. The slow erosion of wages has been partially offset by a decline in the cost of goods and services. Meanwhile, those who own the debt have a … [...]

Seemorerocks: China on the cusp of a deflationary vortex

Meanwhile, Japanese machine tool orders fell 14.8pc in May, the biggest drop since 2001 – when Japan's deflation began in earnest. The post-Fukushima reconstruction boom has run its course. Asia is turning stone [...]

Ab-Norm-al Econ: What Is Globalization?

It links Minsky's theory of finance with the process of globalization. The author of … Debt deflation is usually painful, and it often reveals problems that were not visible during periods of debt inflation and globalization. Bankers … [...]

Crisis lessons from Irving Fisher: Fix the debt-deflation disease, not …

This column rehabilitates Irving Fisher's debt- deflation theory to explain the current crisis. It suggests that fiscal stimulus will do little to prevent the crisis from becoming a protracted slump because the problem lies in [...]