Why Japan Is Bad For The World

Japan continues to be the world's biggest financial story. The consensus seems to be that the country's extraordinary economic measures are good for both itself and the world. I've detailed previously how Japan's efforts are likely to have terrible domestic economic consequences, whether they succeed or not. Today, I'm going to explore the latter idea: that Yen depreciation will benefit other countries as they'll depreciate their own currencies, which will make their economies more competitive t...