{"id":10975,"date":"2023-01-13T02:11:00","date_gmt":"2023-01-12T17:11:00","guid":{"rendered":"http:\/\/www.irken.jp\/gn\/?p=10975"},"modified":"2023-01-12T17:12:21","modified_gmt":"2023-01-12T08:12:21","slug":"wall-street-journal-january-10","status":"publish","type":"post","link":"https:\/\/www.irken.jp\/gn\/?p=10975","title":{"rendered":"Wall Street Journal (January 10)"},"content":{"rendered":"<p>\u201cBased on the growth of the money supply, Japan clearly fails to qualify as ultra-loose. On the contrary, it has been ultra-tight for decades.\u201d Based on the quantity theory of money and Milton Friedman\u2019s insights, \u201cthat tightness put Japan right where anyone\u2026 would expect: with ultra-low inflation.\u201d That\u2019s right, \u201cJapan\u2019s ultra-low inflation rates have been the result of ultra-tight, not \u2018ultra-loose,\u2019 monetary policy. The Bank of Japan\u2019s attraction to this fallacy has resulted in Japan\u2019s lost decades.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cBased on the growth of the money supply, Japan clearly fails to qualify as ultra-loose. On the contrary, it has been ultra-tight for decades.\u201d Based on the quantity theory of money and Milton Friedman\u2019s insights, \u201cthat tightness put Japan right where anyone\u2026 would expect: with ultra-low inflation.\u201d That\u2019s right, \u201cJapan\u2019s ultra-low inflation rates have been [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1700,13631,13629,215,4,575,1615,9115,4839,8303,13630,13628],"class_list":["post-10975","post","type-post","status-publish","format-standard","hentry","category-global-news","tag-boj","tag-fallacy","tag-friedman","tag-growth","tag-japan","tag-lost-decades","tag-monetary-policy","tag-money-supply","tag-rates","tag-ultra-loose","tag-ultra-low-inflation","tag-ultra-tight"],"_links":{"self":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/10975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10975"}],"version-history":[{"count":1,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/10975\/revisions"}],"predecessor-version":[{"id":10976,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=\/wp\/v2\/posts\/10975\/revisions\/10976"}],"wp:attachment":[{"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irken.jp\/gn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}