They should concede that policies they are using not only don't work but make things much worse. For the time being the banking system continues to bleed. Japan's second-largest leasing company has filed for bankruptcy proceedings. The bankruptcy filing marks one of the biggest failures in Japan's postwar history. Electricity use rose in August for the fifth consecutive month.
Industrial production remains depressed.
Dr Frank Shostak is chief economist with Ord Minnett Jardine Fleming Futures, Sydney, Australia.