" I’m going to do some reading about Keyne’s liquidity and see if there’s anything interesting to learn there."
I found this: http://mises.org/daily/1226
Explains what a liquidity trap is [refusal of people to invest, because the interest rate is too high to make profit],shows how THERE WAS NO SUCH THING IN JAPAN, how Krugman jumped through hoops to make one up [that part is a bit over my head].
Also found this: Why does Japan have deflation and low yields, despite their massive debt and money printing?
A detailed analysis of why Japan had deflation despite all that money being printed.