Source: Wall Street Journal – Japan’s Abe Dismisses Hyperinflation Worries
There was a time not too long ago when going back to a gold standard for currencies was unthinkable or was though impossible. In recent years, we see more talk of the possibility of the world financial system going onto a gold standard. Similarly, there was a time not too long ago that hyperinflation was hardly associated to developed countries in the mainstream media(MSM). Today, hyperinflation worries are reported by the MSM often associated with developed countries such as the US, Japan and the Euro countries.
“Japanese Prime Minister Shinzo Abe told parliament Tuesday that worries of the central bank’s inflation target triggering hyperinflation are unfortunate and unfounded.”
“The central bank agreed to launch an “open-ended” commitment to ending deflation through asset purchases, and adopted for the first time a firm 2% inflation target, as part of a bigger push to stimulate the country’s long-slumping economy.”
“The prime minister also fended off criticism about his government spending its way out of stagnation, saying his economic policies will eventually pave the way for sustainable private-sector growth in the mid- to long-term.“