This monetary expansion seems to confirm MMT that government can expand money supply without inflation when production is able to respond in kind to increased demand without inflation. THIS IS HUGE, theory previously was that taxation was only route to government spending but government can just print more Trillions, national debt essentially becomes a footnote.
Isn't it more striking that inflation didn't rise despite doubling the money supply? what would have happened if money supply didn't double???
Not an economist but it seems like deflation would have landed Japan in economic contraction rather than expansion hard to compare status quo vs resulting equilibrium from intervention likewise; actual equilibrium from intervention from resulting status quo affects.