I’ll keep this short and sweet. I’m not a big fan of the Japanese economy at present or what the policymakers are doing to drive the economy/markets higher. I think they’ve made a mockery of their stock market and that this “wealth effect” is a misguided approach to fixing their woes. But I am equally critical of those who think Japan is on the brink of bankruptcy. Japan’s got big problems – being able to meet its obligations is NOT one of them. First of all, Japan has basically copied the US monetary design. And anyone who understands the US monetary system knows that the USA can’t just “run out of money”. Even the ... (full story)