The Bank of Japan issued its plans for future economic stimulus last night. Consider the rather stunning implications of the Japanese 10 year bond having a 0% yield. That means they expect the economy to grow…0%. Another thought to be derived from all this is that the giant increase in debt in Japan over recent decades and the vast complexification of Japanese society hasn’t worked, yet the Bank of Japan is doubling down on the same policies. Individual stocks may do quite well, though. Most importantly, the same phenomenons are playing out all over the world. Stock markets are going up globally because cheap money means that there’s more to support current values. I’m wondering when the electorate will truly realize the meaning of this.