He makes some very basic points, that may indicate that QE will not work because we are still in a situation of deficient demand. Also he points out the absurdness of some Draghi’s comments.
Abenomics leads the Rehn-Merkel Doctrine 3.5 to -0.8
A study in differences. Economists must have a field day when there are such clear ‘natural experiments.’ Shame politicians and other actors still don’t understand. Yesterday a local business representative said that he doesn’t ‘do’ theory and that in the real world things work different – we must tighten, slash expenses etc. otherwise we are on the road to Greece. Unfortunately, there was no time for a response in the seminar but people like that prevent recovery.