This is what Japan did to stem its deflationary decline for the past 20 years, but at least they had savings to do it with.
We don't have savings. We only have debts. Rising interest rates will stop any fiat 'printing' cold in its tracks.
This is what Japan did to stem its deflationary decline for the past 20 years, but at least they had savings to do it with.
No, Japan did not print more and more money. If they had, they would have ended their deflationary spiral. Instead, they spent trillions on government construction projects. They didn't stop the deflation and now their government debt is around 160% of GDP.