This is my favourite Minsky quote. It is why we have to challenge neoclassical economics. The straightjacket it imposes on those who work within its axioms actually prevents us asking the questions and finding the solutions we need across the rest of this century.

The one thing Japan cannot tolerate is higher nominal interest rates. It’s debt levels are too high.

Grok Jason Smith - 上官杰文 Will 🇨🇳 suffer the same fate as Japan's "lost decades" (1991-2001) which were primarily caused by the bursting of the 1980s "bubble economy," which led to a massive collapse in stock and real “estate collapse”?

Recirculating this thread for Asian trading hours -- China's September fx settlement data suggests significant intervention (at the fix more or less) to prevent the yuan from appreciating (or even making full use of the band)

Global #Steel oversupply and dumping are undermining #India’s competitiveness, despite strong domestic demand driven by construction and infrastructure google.com/amp/s/www.theh…

Really worth attending. It’s a great spectacle.

Even while insisting that everything was working as expected and as desired.

This, a hundred times!

Agree.

Pretty funny you should ask. Most of your angry-bitch community is a bunch of anonymous fakes pretending to be more important than they are. Isn’t that how our little patch of Twitter works?

An important thread from Mr. Pettis -- I think raising the consumption share of GDP is doable -- but it takes a set of major policy shifts. And none of those shifts seems to be part of China's current plan

Something for everyone in Japan's September CPI release. Headline inflation is near 3% and rising! Core inflation is near 1% and falling!

The economy continues trying to move from manufacturing to services, but it won’t be easy

Even PRC academics recognize Beijing has gone "nuclear." And the demands will grow because President Trump has not pushed back: Da Wei: “China’s rare earths export control is a nuclear option. In my personal opinion, for China to remove a measure like this, it needs more than

Rob Moore 4 Japanese National Debt - Economics Help Japan's government debt-to-GDP ratio is over 230%, with the most recent estimates from late 2024 and early 2025 placing it around 230-249%. Japan hasnt gone bankrupt

The internet is awesome. The internet is also a low cost cargo hold for attention seekers

The Economist couldn't just write that Tooze's "polycrisis" is fake, so instead they invented "a new form of capitalism" to explain why negative headlines haven't yet crashed the global economy 😂 economist.com/finance-and-ec…

Japan had a nine-year period in the 1870s where they emulated the post-Civil War American National Banking System. 153 banks were chartered, with the names First National Bank through 153rd National Bank.

Brad Setser It’s been failure of both parties. The first serious signal was Chinese embargo on Japan in 2010. Why Congress ignored the signal at the time is real question. Probably they were too busy inflating debt bubble economy.

Sounds familiar, right Yu Laban, especially if they added “tries to be anonymous”. Racist, sexually confused, talking macho, they got it all Doggy Dog