The Bank of Japan’s completely ineffectual, asset-bubble-inflating policy is now being lambasted by … the Bank of Japan? Yep! One of the BOJ’s nine board members, Takehiro Sato, just said the economy is incredibly “fragile” despite hundreds of billions of yen worth of QE … that BOJ policy has made banks and other financial institutions incredibly vulnerable to future interest rate “shocks” … and that policymakers are too focused on achieving short-term goals at the expense of long-term targets.
Couldn’t have said it better myself. Central bank policy is no longer succeeding at any of the targets policymakers have laid out – boosting inflation, boosting growth, etc. All it is doing is artificially propping up asset prices, and even that is failing with increasing frequency. This will NOT end well, folks.
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