The Prime Minister of Japan is known for his economic plan: a 20-trillion yen "stimulus" plus negative interest rates, 2% targeted inflation.........you know the drill. It's a large version of ObozoNomics.
Yah, well, that best-laid plan has rolled over, dead.
Japan’s economy unexpectedly fell into recession in the third quarter, a
painful slump that called into question efforts by Prime Minister
Shinzo Abe to pull the country out of nearly two decades of deflation. --quoted at Vox Populi
An economist called "Krugman" has spent barrels of ink at the NYSlimes praising this (D) scheme. He has an honorable course to follow.
But he won't.
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