ECB BoJ balance sheets as % of GDP

ECB BoJ balance sheets as % of GDP

The above graphic is from an RT interview with “Tragedy of the Euro” author and economics professor, Philip Bagus (Bagus’ interview begins @ 16:15).

Bastiat Circle blog has the transcript and the video.

What happens in Europe, of course, impinges on Japan because

  • Europe is one of Japan’s major trading partners,
  • the BoJ’s balance sheet is approximately equal to the ECB’s, and
  • the BoJ’s and Japan’s Finance Ministry policies may well follow the path of Europe’s.

via Eurozone Wealth Transfers and Sovereign Default

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