A few days ago, in comments, I told a reader that it is perilous to think about the United States through the lens of Japan.
I was thinking at the time about Matthew Yglesias' article in Slate on Liberal Democratic Party president Abe Shinzo's plan to spark consumption by sparking inflation by flooding the financial markets with cash (Link). The article, in which a compulsion to link may have supplanted a need to think, is actually about the U.S. Federal Reserve, with references to a theoretical Abe Shinzo living in an equally theoretical Japan.
I have problems with economics articles offering simple answers to knotty problems without a single reference to work by a person versed in the behavior of the economic actors of the country in question.
Without a reference to a set of statistics or a graph supporting the contentions.
And without a mention as to what the tradeoffs are.
Because there are always tradeoffs.
A tip of the hat to Ourmani Nabiko for the the link.
Later - Stephen Harner discusses probably the most disruptive result of inflation. (Link)
5 Takeaways on Japan’s Inflation Data
2 hours ago