@unusual_whales – Japanese bond futures are halted, currently. Woah.
The Bank of Japan shocked markets tonight.
After leaving policy rates unchanged, the ‘easiest’ bank in the world decided to dramatically modify its so-called Yield Curve Control framework and increase the quantity of government bonds it will buy each month (while the rest of the world is doing the opposite).
Thanks! I guess… I was waiting to see what the US Democrats would do to their currency in the next week with the possibility of a $1.6 trillion spending bill so the Republicans are hooped until next fall. Jury’s out on this for a few more days.
https://www.coindesk.com/price/bitcoin/
Zerohedge is a notorious bed wetter.
But.
The robot revolution will not save Japan’s welfare state. Their manufacturing base is going to take a major hit over next 5 to 10 years because they are missing the boat on the switch to EVs.
Lots of debt that needs to be serviced, won’t be.
EVs will destroy not save. Pay attention, EVs cannot be built without massive inputs of fossil fuel energy. The same applies to all wind turbines, solar panels, all forms of electrical generating equipment, everything we use requires the use of fossil fuels.
Debt is a world wide problem and the U S owes more than the entire wealth of the planet.
Japan, as it has avoided the insane importation of third world welfare seekers will be better off than most nations.
The Bank of Japan is doing what every other central bank is going to be doing in a year or so: buying bonds hand over fist and lowering interest rates all the way back to zero and beyond. The basic choice is this: do you want your fiat currency to collapse due to interest rates that are too high or rates that are too low? The latter is politically easier.
I think it’s actually ‘whoa’.
Doing the opposite of what everyone else is doing is not a bad thing. It often turns out best. This is not a one size fits all world.