Abenomics dragged the Japanese economy further and further into the abyss.
The numbers say it all. But of course, those numbers don’t do anything. Except help destroy an economy.
Many years before the USA and many other countries adopted their bizarre zero-interest-rate policies, Japan already had such an unspecified and unnamed policy in place.
(For convenience, let’s call it the “zeiroo-intaresuto-reeto porishii,” or ZIRP.)
(Image source)
No, no, Abe-san. That’s not a solution.
Of course, ZIRP was totally ineffective in stimulating any growth. Quite the opposite, it just dragged the Japanese economy further and further into the abyss. With a nice, strong boost from Abe-no-no-nomics.
At least in this respect, the USA and other developed countries have caught up with Japan. Unfortunately. (Image source)
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