Japan is now the world leader in inflation. At least among the world's major economies. This chart, tweeted by Tom Orlik of Bloomberg, shows inflation for the U.S., Eurozone, China, and Japan. As you can see, Japan is the only major economy that has inflation running meaningfully above 2%, while Europe continues to flirt with deflation. Japan's inflation, however, has not come without some extraordinary measures from its central bank. Last year, newly-elected Prime Minister Shinzo Abe announced a "three arrow" plan to jumpstart the long-lagging Japanese economy. This plan involved a massive quantitative easing ... (full story)