“The Bank of Japan has announced a quantitative easing (mass inflation) QE program that matches Bernanke’s: $75 billion a month in purchases of Japanese government bonds. This is just under $1 trillion a year. But Japan’s GDP is only $6 trillion — 40% the United States’ GDP. This is way beyond Bernanke. For the Bank of Japan, this is QE1. But it is QE3 in the United States. It’s the same policy. The government of Japan has always been Keynesian. Now it has adopted desperation Keynesianism: just like the United States and the eurozone.”
http://teapartyeconomist.com/2013/04/04/qe-3-moves-to-japan/
