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Japan has courageously and selflessly sacrificed its national wealth in one gigantic "experimental test" proving that the Keynesian theory is false. Isn't it time now to put a fork in it? Come on guys, get the journal article written, and then get back to saving capital and producing goods. Worth quoting:

You'd think that after 10-plus years of economic recession, despite having forced interest rates down to near-zero levels in their never-ending quest to pump new money into the economy, the central banking Samurai at the Bank of Japan would show the good sense to admit defeat and fall on their swords. Instead .. the BOJ has announced a new policy of buying corporate debt, including some with a junk-grade rating, as though loose money policies will finally have the effect they were supposed to have the several times they were implemented throughout the 1990s.