"Justifying the BOJ's catastrophic response to Japan's soaring inflation, Ueda said that although rising interest rates are a "burden" on households and corporate finances, if the economy improves the economy will have the strength to absorb the increased burden."
Translation: best case scenatio, all your increased productivity is soaked up by public debt and you gain nothing. Worser case, your productivity doesnt exceed the increased public debt and you are worse off. In short, have fun staying poor.
11 September 2023
1 min read
