DeLong is, in my view, trying to whitewash his contemporaries who did not see the crisis coming, and inaccurately trying to associate them with Hyman Minsky whose theory of debt deflation anticipated many dimensions of the … [...]
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Wolf Richter www.testosteronepit.comEver since Toyotas and Hondas were forcing Detroit to shape up the hard way, the US government has pushed Japan to open up its markets, particularly its automotive market, and the … [...] He then juxtaposes this in the context of Hyman Minsky's monetary theories, and concludes: “What incentive does a US bank have to extend maturity to a two- or three-year term when Treasury rates at that level of the curve are below the 25 basis points available to them overnight from the Fed? What incentive does Pimco or banks have to buy five-year … [...] Let the deflationary wave crash so we can start the inflationary tsunami! Bring all asset classes …. Hopefully the upcoming Minsky Moment will be powerful enough to reverberate for many generations to come. Secretly, I'm … [...] The only Sri Lankan newspaper with round the clock news [...] |
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Guest Post: The Case Against Deflation | Zero Hedge
Japan was also in the grip of Keynesians and they stimulated like crazy but they still got deflation over decades, what makes you think it will work here when personal and business credit is not expanding…can the gov really … [...]