Kyla Scanlon

speaker

1,192 appearances 8 recordings 5 series first heard Nov 2025 last heard 11 Aug

Kyla Scanlon’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 8 in all, peaking in Jan 2026 with 3.

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The Rundown · Can You Govern the Economy Like a Reality TV Show? (ft. Kyla Scanlon) · 25 Jan 2026 podcast

And for a very long time, Japan has been stuck in this deflationary spiral.

They've had really stagnant growth.

It's been very difficult for their economy to grow.

Interest rates have been

kept at zero, and the Bank of Japan has had to really intervene into the bond market to keep everything from collapsing.

And over the past couple of months and years, Japan has been trying to exit that regime.

So the Bank of Japan has actually been hiking rates.

They've let interest rates rise and have been trying to, like, cannot get the market to stand on its own legs.

But they recently elected a new prime minister who is making the same mistake that Liz Truss did,

Liz Truss, Prime Minister of the UK, made this announcement about a fiscal mini-budget a couple years ago, doing these tax guides, and the bond market totally kicked her out.

It's something called a bond vigilante, where the bond market will make it very clear when they don't like a leader, and essentially make that leader exit.

And so it seems like the same thing could be happening to Japan, where their prime minister has announced unfunded tax cuts, snap elections.

So there's a little bit of political risk.

And the bond market is not so happy about all of that.

It's not very fiscally responsible.

It's also a good lesson for the United States.

But there's also this question of the yen carry trade.

So because Japan has provided such cheap liquidity to the world for such a long time, a lot of people borrowed a bunch of yen in Japan because it was really cheap.

They converted those yens to dollars, they bought US stocks or bonds or whatever.

And then they pocketed the difference.

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