Japan has a willingness to try out "weird" one-off policies which I wish more places would emulate. Most recent one, to stimulate consumer demand in face of a consumption tax increase and have most of the stimulus hit smaller, "local" operations / core spending:
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Reading this caused me to read your June essay on discount brokerages. You called the 'Commissions go to zero' 3 months before it happened'
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I was 3 months early but probably 15 years late relative to decisionmakers at, without loss of generality, Schwab. The handwriting had been on the wall for a very, very long time; they were just waiting for a catalyst. (I think with medium-high confidence that that was RobinHood)
End of conversation
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