Time and time again, Japan sticks out like a sore thumb that those preaching the unsustainability of government debt want to sweep under the rug with the "Japan is a special case" story (a country fixed effect). But it seems more likely that Japan's economy is behaving exactly as you might expect given that it issues debt in its own currency. In other words, Japan is just a normal case pushed to the extreme.Tim Duy's Fed Watch
The Importance of Printing Your Own Currency
Tim Duy
1 comment:
Printing fiat currency? Ho hum.
Not all individuals consider it as important as personal printing of your own meals.
Wanna print the Trinity, on-demand?
Burgher, fries & holy coke?
see http://modernmeadow.com/
Star Trek anyone? Fiat Federation Credits, on-demand? Enough guaranteed liquidity that no ones is interested in anything except their own curiousity?
As always, don't sell the bike shop, Orville.
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