@divergent.markets: The Unwind - Part 3: The Wish Japan didn't end the era of free money because something went wrong. It ended it because something finally went right. For 30 years Japan fought deflation: prices drifted down, so people waited to spend, so businesses weakened, so wages stayed flat. The Bank of Japan cut rates to 0%, then below 0%, and bought bonds by the trillion. Mostly it didn't work, and that failure is where the world's cheap money came from. Then it worked. Wage talks have delivered ~5% pay rises three years running (5.3% this year), and inflation is forecast near 2.8%, above target. So the rate is now 1%, the highest since 1995. The cheapest money on earth was a symptom of an economy that couldn't get going. Fix the economy and the cheap money goes too. This is Part 3 of The Unwind. 30 years of trying to create inflation. Would you call that a win? #fintok #LearnOnTikTok #stocktok #japan #economy

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