Japan: Business Cycle Disappears

Japan's politicians and the Bank of Japan appear unable or unwilling to get a grip on their economic problems despite Prime Minister Shinzo Abe’s vaunted quiver of economic arrows, the most potent of which – restructuring – remains sheathed. In effect, the country has broken its Economic Clock®, with crazy investment implications. A broken clock tells the time twice a day. Policy is characterized by an excess supply of money and an excess supply of goods – a condition in place for many moons already.

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