Award winning documentary on the development of modern Japanese economy, this film does an outstanding job of explaining basic central banking principles using Post-war Japan as an example. An excellent job of clarifying a confusing subject applicable in all modern economies.
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Princes of the Yen
- Nonc Hilaire
- Posts: 6244
- Joined: Sat Dec 17, 2011 1:28 am
Princes of the Yen
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
- Nonc Hilaire
- Posts: 6244
- Joined: Sat Dec 17, 2011 1:28 am
Re: Princes of the Yen
And cartels. I especially liked the explanation of credit bubbles and why banks make such obviously bad loans. I kinda knew it, but this film makes it crystal clear.Parodite wrote:Monopolies suck.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Princes of the Yen
Or my preferred modern versionMisunderstandings and neglect occasion more mischief in the world than even malice and wickedness.
At all events, the two latter are of less frequent occurrence.
~ The Sorrows of Young Werther by Johann Wolfgang von Goethe
Central banks are neither all knowing or all powerful.Never attribute to conspiracy that which can be explained by abject stupidity.
When it comes to the economy, they are as clueless as the rest of us.
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
Re: Princes of the Yen
Therein lies the core difference between the more libertarian view on economics versus the more authoritarian one.
On this very topic, the local rag has a fluff piece that deliberately distorts all this in a way I find delightfully comical
https://www.news.com.au/finance/economy ... 873397bb17
On this very topic, the local rag has a fluff piece that deliberately distorts all this in a way I find delightfully comical
https://www.news.com.au/finance/economy ... 873397bb17
TLDR; dogma is that globalisation and immigration make us richer, so how could anyone explain why the opposite happened.The graph shows wages growth falling below 2 per cent a year, and the Reserve Bank of Australia, our independent economic policy brains trust, failing to expect it. Their forecasts repeatedly show an expectation the problem will get better. Meanwhile, it gets worse. This sequence of events explains a great deal about Australia’s economic malaise. Nobody expected it to come to this.
ultracrepidarian