Japan Unveils $200 Billion Fiscal Stimulus To Fight Inflation; Will Do More QE To Fight Adverse Effects Of QE
The JGB bond market, which has long been the pinnacle of MMT lunacy and a testament to a dying financial system, may be on its way out for good (read "One Bank Makes A Stunning Discovery: The Bank Of Japan's YCC Is Broken And Soon The Entire JGB Market Will Cease To Exist") but it still has a few tricks up its sleeve.
Taking a page right out of the batshit insane California (and liberal) playbook, the Japanese government on Friday unveiled 29.1 trillion yen ($197BN) in fresh spending to - drumroll - ease the impact on consumers of something Japan has not seen for decades, i,e., soaring inflation, and something it has seen (but not to this extent) a collapsing yen.