Japan Is Running Out of Options

Dissent within the Bank of Japan is growing. That means more volatility ahead.

Kuroda is increasingly isolated.

Photographer: Haruyoshi Yamaguchi/Bloomberg/Getty Images

The New York Times recently lit up the Japanese Twittersphere with a cartoon that was a little too accurate for comfort. In it, a stretcher marked "economy" is loaded into an ambulance with "Abenomics" painted on the side; the vehicle lacks tires and sits atop cinder blocks. Prime Minister Shinzo Abe looks on nervously, holding an IV bag.

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