He backs this up by saying the Japanese Government, its Prime Minister, Central Bank and Civil Service are all backing the idea that the way out of Japan’s problem is higher inflation.
The thrust of his argument is that any higher inflation would be good for the Japanese economy because it will help consumers and companies get out of the mindset that things will be cheaper tomorrow. Nominal GDP of 3% or more would also mean it is worth investing and spending today.
How they are doing this is through vast amounts of QE…
For the full interview with Jeremy Beckwith, please click here.
