Tuesday, February 17, 2009

FT’s Martin Wolf – a MSM person who actually speaks sense

Japan’s lessons for a world of balance-sheet deflation

We're repeating the Japanese mistakes. It's deflation and a lost decade we're facing.

Posted by alphabetzoo @ 09:39 PM (606 views)
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3 thoughts on “FT’s Martin Wolf – a MSM person who actually speaks sense

  • Seems fair enough to me – I’m not sure that in a low demand environment, printing money will work, or will not have undesirable consequences.

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  • Good article. I like the point “A recession caused by the central bank’s determination to squeeze out inflation is quite different from one caused by excessive debt and collapsing net worth.” He also makes the point that government has no real choice but to step in as borrower of last resort.

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  • mark wadsworth says:

    As a cash rich sell to renter who fears inflation and wants house prices to crash, that’s all very reassuring to me…

    Either they do the decent thing and liberalise planning laws, regulate banks properly and introdcue Land Value Tax (to replace as many other taxes as possible) as well as having a cull of the quangocracy, deregulating like mad and reducing the savage income-based means testing of benefits; or we are doomed to repeat this stupid boom-bust cycle for ever.

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