Japan is the poster child for the madness of Keynesians. There was deflation in Japan, caused by deflation of the asset bubbles. There was no deflationary spi

Japan is the poster child for the madness of Keynesians. There was deflation in Japan, caused by deflation of the asset bubbles. There was no deflationary spiral as defined by the scaremongers. Japanese banks should have failed, and debt holders should have been wiped out for making bad lending decisions. Such things are painful but they are forgotten over time. Instead continual debt increases and government boondoggles have made the economy dead for 20 years. A resurrected corpse after some hardship is better than a zombie economy.