Japan’s Fiscal Calamity Intensifies—-Consumption Tax Delay Shows It Will Never Staunch Its Deficit Hemorrhage

In what can only be an intentional trial balloon, the Abe government in Japan is making noise about delaying the next scheduled tax increase. Considered to be one of the important “arrows” in Abenomics, this is an especially stark admission that orthodox economics has not (yet again) delivered on its promise. When QQE was started...
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