I was hoping you'd respond to that provocation.
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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I don't know! Have you written about negative yields?
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with rates forced down, there will be a bubble in everything, especially land prices.
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fueling excessive or unsustainable risk-taking elsewhere in many other asset classes?
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Government debt is much different private debt. U.S. dollar prevents us from any currency induced inflation
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what's the best book/paper you've read on Japanese economic policy over the last 20 years?
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Richard Koo's theory of a "balance sheet recession" or an Irving Fisher style debt deflation are persuasive re JPN
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Seems like the reverse: low rates reflect reduced investment opportunities, poor prospects for future growth.
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@kltblom love this discussion! - 2 more replies
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Manias are not (necessarily) driven by rates, but supply/demand. Massive credit (debt) versus few opportunities.
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Business generally doesn't care what interest rates are; if a project looks good they do it irrespective of rates
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