2 ms·

ECB is trapped? How about Bank of Japan?

• bryanlarsen 4y ago
  Most Japanese government debt is held by the Japanese treasury. They could wipe it out with the stroke of a pen.
  • chewz 4y ago
    > They could wipe it out with the stroke of a pen. In MMT fantasy land they surely can. But in the real world it ain't that easy... > "the currency and Japanese financial markets are in the process of losing any sort of fundamental-based valuation anchor." - Deutsche Bank's George Saravelos in yesterday's report.. Japan is on verge of systemic collapse. Just watch USDJPY and JGB recently...
    • orwin 4y ago
      As i said before, i disagree with at least half of MMT, but people saying "MMT fantasy land" and then quoting Friedman-loving economists is quite ironic. Macro economists models aren't predictive, and as such, they are scientifically as useful as the book of Râ.