Wolf Richter: Central Banks Quietly Backing Out of Negative Interest Rate Policies (NIRP)
Are central banks finally beating a retreat on their failed NIRP strategies?
Read more...Category Archives: Japan
The Global War on Cash – Lessons from History
Introduction Regular readers will be fully up to speed on the Reserve Bank of India’s botched attempt at a handbrake turn style demonetisation thanks to Jerri-Lynn Scofield’s thorough coverage (see here, here and here for more background on this sorry tale). But the Indian government’s attempt at implementing a strategy of moving an economy away from physical cash […]
Read more...British Press in a Tizzy that the EU Will Be Mean to the City of London in Brexit
The whinging from entitled Brits over the fact that the EU is playing Brexit hardball is getting annoying.
Read more...Japan Isn’t Playing Neoliberalism’s Word Games
Has the progressive left in western democracies forgotten how to embrace the mainstream? When I compare the approach which anti-neoliberal causes take in the U.S. and Europe with the approach taken by the same causes in Asian countries, especially Japan, I can only say yes, it has. One explanation for how pro-labor movements have been […]
Read more...Banks Rebel Against Negative Interest Rates
Banks have had it with negative interest rates and are starting to push back.
Read more...Artificial Intelligence and Employment
The substitution of human labour by artificial intelligence and robots is a keenly debated topic. Some claim that a substantial share of jobs is at risk, while others argue that computers and robots will lead to product innovations and hence to unimaginable new occupations. This column uses a survey of Japanese firms to examine the impact of AI-related technologies on business and employment. Overall, firms expect a positive impact on business but a negative impact on employment. Firms with a highly skilled workforce, however, have a more optimistic view than firms with lower skilled employees.
Read more...Steve Keen: Zombie-to-Be Economies and the Walking Dead of Debt Include China, South Korea, Canada, Finland
Steve Keen’s macroeconomic model allows him to identify zombies-in-the-making. It’s not pretty.
Read more...Hoisted from Comments: “Obama’s Hiroshima Visit Is Shaping Up To Be a PR Disaster”
Our instinct that Obama’s “look forward, not back” approach to his Hiroshima visit would not go over well in Japan is panning out.
Read more...Martin Wolf Defends Central Banks’ Negative Interest Rate Policies
The Financial Times’ lead economics writer, Martin Wolf, makes an intellectually bogus case for negative interest policies.
Read more...Negative Interest Rates – Are There Any Positives?
The more you look at negative interest rates, the harder it is to find anything to like.
Read more...Radioactive Waste Still Leaking Five Years After Fukushima Nuclear Disaster
The Fukushima site is still leaking radioactive water and the cleanup and remediation will take decades.
Read more...New York Times’ Bank-Boosting, Neoliberal-Excusing Story of the Global Debt Hangover
A new story at the New York Times on the global debt overhang is an economically warped account that omits important policy options.
Read more...Identifying Vectors Influencing China’s (and International) Markets
A list of some of the factors driving the recent market upheaval in China. Readers will hopefully add to and refine this compilation.
Read more...The Internet of Things – Supplied or Demanded?
An intriguing comparison of how the Internet of Things is being sold in the US and Japan.
Read more...Japan Proves that “Fix Trade” Sales Pitch for TPP, TTIP, and TISA is Wrong
Funny how foreign firms have failed to break into Japan for reasons having nothing to do with regulatory barriers, which calls the logic of “trade” deals like the TPP into question.
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