BOJ announces Y5 tril of additional monetary easing

Sounds like a lot, but works out at less than 4man per person in Japan (natives only). 70tril would be half a million each.

yay more money in the bottomless pit

This is the last of the last of any fiscal policy that a central bank can do to influence/effect/stimulate fiscal patterns in a national economy. The BOJ was shooting with blanks after it didn't raise interest rates in 2003-04, when the japanese economy was doing well on exports fueled by a cheap yen.

After this, they'll have to be giving the Yen away for free to stimulate inflation and a weakening of the Yen.

Utter madness. It takes the pressure of the politicians to play fiscally responsible with the national debt. Utter and sheer madness. Anyone with savings in yen in 5 years from now, deserves the pain they'll suffer.

falling prices are bad for the economy as a whole because they encourage shoppers to put off purchases in the hope they will pay even less for goods in the future.

Actually, economists now realize that the prices aspect of this is relatively unimportant. More important is the fact that by holding off you may spare yourself having out-of-date technology.

"5 trillion yen to about 70 trillion yen" say what?!? Did they secretly rape and pillage Macau's casinos?

falling prices are bad for the economy as a whole because they encourage shoppers to put off purchases in the hope they will pay even less for goods in the future.

That's the old textbook explanation. But Japan is no textbook case. After 20 years of deflation, consumers long ago figured in falling prices to their purchasing behavior.

I believe the term for this is market manipulation, which means BOJ should get investigated and prosecuted per Japan's FSA rules

The BOJ also said it will expand it purchases of government bonds to those with longer maturities.

money blocked for indefinite period of time. It will be interesting if BOJ injects little more and makes it equal to Japan's annual budget...still will have no positive impact on j-economy which is dead not stagnant.

some14someApr. 27, 2012 - 04:48PM JST

...still will have no positive impact on j-economy which is dead not stagnant.

Very true and the only thing that will bring it back to life is structural reforms of the society and economy along Meiji proportions, and there is neither the domestic political will or external model to mimic there.

Japan could well be the first example of a post industrial dark age model. Couldn't happen to a more deserving people.

Hyperinflation here we come. In the near future ten thousand yen bills will be the new wallpaper and it will take you a wheelbarrow to buy one item.

Yup, give central bankers the power to manipulate the currency, or anything, and they will take it to the lowest possible level, meanwhile of course padding their own and the crony's pockets. Here comes the crash. Better put on your helmets and buckle up!