#japanification

Japanification, Secular Stagnation and Bad, Bad News: QuickTake – Bloomberg

Mario Draghi, the former European Central Bank president, is sounding alarms about “Japanification.” Janet Yellen, the former U.S. Federal Reserve chair, is warning of “secular stagnation.” They’re not the only ones who lately have been using these overlapping if somewhat obscure terms. They do, however, point to the same conclusion — fiscal policy is needed where monetary policy has faltered.…