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Arsonists Grab Matchbox in Japan

by Pater Tenebrarum, Acting-Man.com:

Pork-Barrel Spending Expert Becomes Finance Minister

It appears it is not enough for Shinzo Abe to attempt to wrest control over the nominally independent Bank of Japan from its board with the aim of getting it to “inflate Japan to prosperity”. The erroneous belief that one can get something for nothing by cranking up the printing presses is of course deeply ingrained all over the world, but as policy options go, it is an especially bad one for Japan with its graying and society and declining population. As we have mentioned before, inflation is about as useful to Japan’s citizens as a hole in the head.

Now Abe also wants to add to the debtberg of his government, already the by far biggest in the industrialized world relative to the size of the economy, but more importantly, the most costly relative to the size of the government’s tax revenues, even while interest rates are at generational lows.

Read More @ Acting-Man.com

1 comment to Arsonists Grab Matchbox in Japan

  • Ed_B

    “The erroneous belief that one can get something for nothing by cranking up the printing presses is of course deeply ingrained all over the world…”

    Actually, they CAN get something for nothing by printing money. They can get inflation, a sick economy, impoverished citizens whose savings have been borrowed and squandered by a government that is in danger of collapse and which will then be completely unable to repay the loans that were made to it by those foolish enough to buy its sovereign debt (bonds). It’s just that they cannot get what they want by doing this… or can they? If one were to develop a more destructive fiscal program for a country and its people, it would be very tough to match what is being done in Japan, as well as in the USA, UK, and EU. All of these entities seem to have a death wish problem.

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