‘It Can’t Be Helped’: Japanese Inflation Refuses To Rise Despite Bajillions In Money Printing
So everyone knows that when it comes to normalizing policy, the BoJ and its fearless leader Haruhiko Kuroda, are hopelessly behind.
If you want to know how far behind, look no further than the hilarious minutes from the BoJ's June 15-16 meeting which included the following highly amusing pearls of wisdom:
Bank of Japan board members discussed "recent growing interest in the so-called exit" from its current monetary policy framework at its June 15-16 meeting, minutes showed.
Some members
Uh oh. That last member doubted this pig can fly…no matter how much lipstick Kuroda applies.
‘Well, it’s raining somewhere. Just not where I want it to.’
~God (probably)
I think the world needs a stern warning that growth and organic wealth creation are definitely not the same thing, and that metrics that speak to substantive improvement of the human condition are desperately needed. Inflation targeting? IS that all we can do?
and I thought our central bank was batsh*t crazy…….