The true lesson to be learned is that after an inflationary boom turns into the inevitable bust, trying to fix the mess by fiscal stimulus, monetary inflation, and bank bailouts is a fool’s game.
Wednesday, December 8, 2010
The Lessons of Japan
My latest op-ed, "The Lessons of Japan," was published by The Center for Vision and Values at Grove City College. It discusses the deflation bogey as a justification for QE2 in light of Ben Bernake's recent appearence on 60 Minutes and explains the real lesson to be learned from the Japanese lost decade(s). As I see it,