January 23, 2013

WHAT COULD GO WRONG? The Bank of Japan is coordinating policy with the Japanese government. That is a big deal. “The Bank of Japan made a blockbuster announcement overnight, saying that after nearly two decades of economic stagnation and falling prices, it is aiming for 2 percent inflation and will print more yen on an unlimited scale—by the trillions, if necessary—to get there.”

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