The reliable David Pilling today has a succint review of the multiple fronts of the fiscal and monetary policy war:
Bickering kicks off debate about post-deflation JapanJolly good--if one overlooks the somewhat silly promotions of Yosano Kaoru to peacemaker and sybil (See what kind of glowing tributes granting an exclusive interview can get you, though?)
January 13 2006 02:00--Only the most diehard pessimist would dispute that Japan's economy is looking healthier than it has for many years.
Consumer deflation is breathing its last; the labour market is so tight some employment agencies are worried they will not be able to fill available posts; and banks are finally, if still very cautiously, doing something that has not come naturally for ages - lending people money.
Strange, then, that just when economic policymakers could finally give themselves a pat on the back, they have instead descended into unseemly bickering.
Now, why did the FT leave this article outside its subscription wall?
Update: The FT has it back behind the subscription wall. Tha, tha, tha, tha, that' s all folks!