Tuesday, September 25, 2012

look at japan

"People always ask whether we’ll do as badly as Japan;"
pk


" so far, at least, we’re doing far worse."



"... Japan was highly effective in its use of fiscal stimulus to limit the damage from financial crisis"


so  where did Japan fail ?

" not pursuing expansionary monetary policy during the good years to lift itself out of deflation."

pk

that requires more then mere assertion i think
and a complete answer
 gets to the heart of the  validity of any fiscal first thesis