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Japan's Fiscal Stimulus: Yes, There Is Such a Thing as a Free Lunch
Co-Director, Center for Economic and Policy Research, Washingt...
Economists like to say there's no such thing as a free lunch -- this was even the title of a 1975 book by Milton Friedman. But sometimes there is a free lunch -- in a vitally important sense -- and now is one of those times for a lot of countries suffering from unnecessary unemployment.
Bank of Japan Prepares to Launch More Zeros
President, Pento Portfolio Strategies
The reason for this is clear; Japan's debt has ballooned to over $12 trillion and is now 237% of their GDP. So, what's a government and central bank to do? The answer of course is enacting yet another new fiscal stimulus package that will be monetized by the BOJ.
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