Bank fraud, Japanese and Australian economic woes and other sad tales

I have a panoply of links today. There is no one over-riding theme though I do want to address the Japan question in more depth at some point. I have seen some commentary from Kyle Bass and Jeffrey Gundlach on the dire straits Japan finds itself in and the general view there is that Japan is doomed. I am less pessimistic. While I believe Japan has erred tremendously in following the Richard Koo script of allowing government deficits to run up in an attempt to bail out the private sector, I don't think this is fatal. As I have written repeatedly, the UK had a higher debt to GDP and a crushing loss of productive capacity after World War 2 and they did not hyperinflate. There was serious currency depreciation and an erosion of wealth due to inflation, but this took decades to play out.
The r...


As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More