From Merryn’s Blog (GBR) –
The world is slowly getting more mad than we could possibly have imagined eight years ago (and regular readers will know we have pretty crazy imaginations at MoneyWeek).
Look at Japan, where the private sector is slowly turning into a massive public sector. The Bank of Japan (BOJ) has long been known to be the major holder of Japanese Government Bonds (JGBs). But since it started its turbocharged money printing programmes it has also become a huge holder of the nation’s equities (if you print money you have to buy something with it… ).