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The Father Of Quantitative Easing - Richard Werner | PBD Podcast | Ep. 161
PBD Podcast
Why You Shouldn't Buy Japanese Stocks
In 1987 Japanese long-term capital outflows were a world record amount unprecedented it was Twice as large as the already world record current account surplus. Then any economic theory would tell you should be coming from Japan and also they weren't really earning much money on it So it was against the economic incentives And nobody could explain in that they had you know These standard models of capital flows didn't work so I wanted to solve that puzzle. The answer to that gave me an answer to many other things including enabled me to warn later in 1991 that Japanese banks which at that time were the biggest in the world were all Japanese.
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