My $80,000 Says Deflation Will Only Get Worse: William Pesek
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Naoto Kan may get the state dinners and the motorcades, but he no longer runs Japan. Economist Masaaki Shirakawa does.
If anything is clear since the drubbing that Prime Minister Kan’s Democratic Party of Japan took earlier this week, it’s that politicians are passing the buck to the central bank. Expect Bank of Japan Governor Shirakawa to feel more pressure to boost economic growth than ever before.