It is the 19th of August 2019

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Did Bank Of Japan's Kuroda Just "Capitulate" Too?

First it was The Fed's Janet Yellen coming "as close to capitulation on monetary policy's lack of efficacy," and now The Bank of Japan's Kuroda appears to have had an epiphany. In a stream of truth-filled consciousness unheard of for central planners, the governor admitted, among other things, that "monetary policy doesn't always turn out as expected," and that "many economists don't think financial markets always right," implying, of course, that he and his brethren know better. It appears that as central bank credibility collapses, so the central bankers themselves are having their own 'Greenspan'-moment when their life's work is finally proven entirely pointless.

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