Debt Makes You Dumb, Japanese Edition
Debt works the same way for countries as for families and individuals. That is, if you borrow too much, your life begins to suck. And
Debt works the same way for countries as for families and individuals. That is, if you borrow too much, your life begins to suck. And
As it tries to punish Russia for the latter’s dismemberment of Ukraine, the West is discovering that the balance of power isn’t what it used
It’s amazing how quickly China went from being the world’s savior to its biggest danger. To recap: When the developed world stepped off a cliff
Only in a world totally corrupted by easy money could the following two things be announced on the same day. First: European Bonds Surge as
To Westerners, China has always been a mystery. The huge population of very smart, hard-working people. The succession of unfamiliar, authoritarian governments. The sense that
Bitcoin holders — especially those who bought in during the crypto-currency’s recent surge past $1,000 — are a bit shell-shocked this week: Bitcoin prices plunge
2013 was a year in which lots of imbalances built up but none blew up. The US and Japan continued to monetize their debt, in
Late in the life of every financial bubble, when things have gotten so out of hand that the old ways of judging value or ethics
For a while there it looked like Europe was beginning to dig itself out of the pit into which it had fallen after the 2008
Japan’s currency devaluation has worked beautifully. The yen is plunging, Japanese stocks are soaring, and the current account surplus — the main measure of a
It’s easy to understand the attraction of things like adjustable-rate mortgages and teaser-rate credit cards. They give you cheap money up front and a few
Based on the past few weeks’ stock market action, Japan’s decision to flood the world with yen looks like a raging success. It’s not of
Forget about the fiscal cliff. December’s big story was the ascension of a new leader in Japan whose platform is aggressive inflation: Global Currency Tensions
Japan’s government has fallen — again: Two-Party Japan Democracy Undone in 39 Months as DPJ Crumbles It took 54 years for Japan’s politics to produce
Yesterday’s Wall Street Journal devoted an entire page to the differences between today’s economy and a typical recovery: Slow Recovery Feels Like Recession Americans are
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