3 ms·
>Simply put: MMT completely ignores floating exchange rates. Horseshit. >The only reason that hasn't been completely catastrophic (for the US) is that we're t
by crdoconnor 11y ago
>Simply put: MMT completely ignores floating exchange rates.
Horseshit.
>The only reason that hasn't been completely catastrophic (for the US) is that we're the global exchange currency, and can basically tax the whole world by printing more money.
Yeah, yeah, and the only reason it wasn't completely catastrophic for Japan is for some other completely different reason (aging population, people like to save - take your pick).
Be consistent at least about your excuses. Make sure they apply to the US and Japan.
- hodwik 11y agoJapan's QE was in response to deflationary pressures. That's a far cry away from QE while inflation is already happening. Further, I don't see why you can't have two completely different reasons for the same effect. And while demographics are important, I wouldn't call it the primary effect, instead I'm with Haruhiko Murayama from the Bank of Kyoto: "[Japan deflation is caused by] a lack of demand, which in turn is attributable to the fact that emerging countries such as China, South Korea and Taiwan have come to manufacture inexpensive high-quality electrical products by introducing new equipment and by taking advantage of their cheap labor."