by Pater Tenebrarum
Chopper Pilot Descends on Nippon
Readers are probably aware of recent events in Japan, the global laboratory for interventionist experiments. The theories of assorted fiscal and monetary cranks have been implemented in spades for more than a quarter of a century in the country, to appropriately catastrophic effect. Amid stubbornly stagnating economic output, Japan has amassed a debt pile so vast since the bursting of its 1980s asset bubble, it beggars the imagination.
[…] Here is a brief summary of what just happened: first, contrary to the global trend of incumbents falling from grace nearly everywhere, Shinzo Abe and the LDP achieved a resounding election victory. This victory inter alia allows Abe to proceed with his militaristic agenda unhindered and to keep promoting his economic program that is best described as a mad-cap flight forward.