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MarkGB 

"Who controls the food supply controls the people; who controls the energy can control whole continents; who controls money can control the world" - Henry Kissinger

and yet...

"Sooner or later everyone sits down to a banquet of consequences" – Robert Louis Stevenson

The BoJ - a firm of dodgy builders

In response to an FT article by Gillian Tett on 3rd March 2016, entitled 'Japanese monetary firepower misses the mark'

http://www.ft.com/cms/s/0/fe6740a4-e079-11e5-9217-6ae3733a2cd1.html#ixzz41tn3ud9v

The BoJ remind me of a firm of 'dodgy builders'.  E.G. If you keep applying extra layers of plaster to the surface of a damaged wall in order to cover up deep cracks - you have to apply ever thicker layers - until eventually the whole thing falls off in one big lump. 

That's what's happening in the Japanese economy. Eventually this ridiculous debt laden edifice will fall to the ground, and the wall will have to be rebuilt. 

Moving forward it'll be a good idea to employ a real builder rather than a guy who's spent thirty years studying the latest theories on neo-classical plastering.

The govt is not the economy - Martin Wolf gets one right...well almost

Neocons provide back-up in case Santa strategy fails