If GROWTH depends on monetary policy then why is it not only not working now, but rather hasn't worked with HISTORY's best live example .......
Nikkei = near 40,000 in 1989, now near 10,000 amidst massive pumping, 0% interest rates, 22 years gone by and the slide continues ....
the slide in what, you may ask?
in collective = HERD psychology
HERD went from consuming like Kings to dining like Misers. Despite rates at 0%, banks lack borrowers.
Original WSJ story ran in 2001 titled, "Puzzle in Japan"
On the street the sentiment is clear ... = life sucks without jobs, the uncertainty of the job lasting or that if let go that another would be or could be found = prospects are dim = collective sentiment across the board.
Nikkei = near 40,000 in 1989, now near 10,000 amidst massive pumping, 0% interest rates, 22 years gone by and the slide continues ....
the slide in what, you may ask?
in collective = HERD psychology
HERD went from consuming like Kings to dining like Misers. Despite rates at 0%, banks lack borrowers.
Original WSJ story ran in 2001 titled, "Puzzle in Japan"
On the street the sentiment is clear ... = life sucks without jobs, the uncertainty of the job lasting or that if let go that another would be or could be found = prospects are dim = collective sentiment across the board.
