John Rubino returns… Over the past few weeks the BOJ and ECB both eased. They were hoping for economic jolt caused by their currencies declining. But the opposite occurred. Their currencies went up and the Japanese yield curve inverted. The indicators are all pointing towards recession. Their over indebtedness makes handling a recession a possible near-death scenario. Has monetary stimulus run its course? Perhaps, as now we’re hearing the clarion call for universal fiscal stimulus.
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