Courtesy of Mish.
It’s rather amusing that Japan cannot destroy its currency even though it has tried, and tried and tried.
Abenomics has been a huge failure. Keynesian “solutions” of all sorts have failed to rid Japan of the alleged scourge of deflation.
Some think handing out free money is the obvious solution, but what if people don’t spend it?
I can help.
On April 8, I wrote Central Banks Fail in Efforts to Destroy Currency.
In that post I offered simple advice.
Try harder, is inadequate. Japan needs specific recommendations. Today, I happen to have some.
Mish’s Four Pronged Proposal to End Japanese Deflation
- Negative Sales Taxes
- One Percent Tax, Per Month, on Government Bonds
- National Tax Free Lottery
- Hav-a-Kid
