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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: N who wrote (857)	10/9/1998 11:46:00 PM
From: Frodo Baxter	Read Replies (2) of 3536

>Krugman in Tokyo. Much as I think Krugman is the economist equivalent of Karl Marx ("Hey, my plan is perfect. It's just that folks misunderstood the implementation."), he's right on inflating Japan. Not that it has anything to do with a liquidity trap. The banks are bankrupt, and Japan needs fresh-start accounting. The only way this can be accomplished is by printing more money: recapitalization, seignorage, monetization, let the good times roll! There are still fools out there talking about Japan's need to stimulate demand, as though this fixes something. Amazon loses $4 per transaction. Would the company be financially stronger if they sold more books? This is Japan's problem.

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