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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

After 25 years of moribund economic policy, Japanese government blames 'deflationary mindset'

In response to an FT article by Henny Sender on 26th April 2016, entitled 'Japan’s negative rate experiment is an alarm bell for the US’

http://www.ft.com/cms/s/0/d5f8a036-0acc-11e6-9456-444ab5211a2f.html#ixzz46v9Wa4oh

"Japan’s negative rate experiment is an alarm bell for the US"...

…”meanwhile, even finance ministry officials concede that the deflationary mindset is more entrenched than ever. There is agreement that NIRP has backfired and such an unsustainable monetary policy cannot support growth, let alone help financial asset prices”

The Japanese people are not afflicted by a 'deflationary mindset', they are suffering from the policies of a generation of economists who think the economy is a math problem; who have absolutely no idea of how wealth is created; who are blind to how their policies effect capital flows, business decision making or indeed 'consumer mindset'; whose answer to 25 years of miserable failure is 'more of the same'.

The thing that the US should worry about most is that the geniuses in the Eccles building have also invested three decades of their career studying the same collection of equilibrium models, Phillips curves and other 'flat earth' maps as their intellectual brethren in Tokyo.

It doesn’t matter how much carnage these fools cause…there is not enough deflation in Tokyo or New York to take the air out of such clueless bags of wind.

Martin Wolf rebuts top ten arguments for Brexit. No mention of number 11

Globalisation and free trade are not the same thing