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BOJ to launch new scheme for fighting climate change

12 Comments
By Leika Kihara and Tetsushi Kajimoto

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The BOJ also maintained its massive monetary stimulus to support the country's economic recovery and extended a deadline for asset-buying and loan programs introduced last year to channel funds to pandemic-hit firms.

The top down, trickle down monetary policies of the BOJ enriching a tiny financial elite will ruin many more lives before climate change will.

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Problem solved. They have done such a great job at “saving” the economy that the climate will be a breeze.

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Sure, Jeff Lee. How about the fact that fewer than a quarter of the largest demographic group in the history of this country, the postwar Baby Boomers, have yet to start retiring yet? Have yet to shift from investment to penny-pinching pensionages? Along with the entire rest of the developed world as well? You think those investments around the world are not going to be used when the tax base in this country collapses?

Come back in 10 years and we'll talk again, Jeff. Everyone knows that negative interest rates for decades is...a sound financial strategy? Everyone knows that collapsing demographics are a walk in the park to accommodate with a few measly trillion dollars built up in "credit"...yeah, that'll retire the Boomers for the next 40 years, right? lol.

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Decrease the population and beuracrates?

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@Hito Bito

 Everyone knows that negative interest rates for decades is...a sound financial strategy?

Amid persistently low price inflation and moderate asset inflation, sure it is. High rates for decades, by contrast, would have been a disastrous strategy.

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What do you mean by "high" rates, Jeff? 1%? 0.003%? lol. That's rediculous to claim that this is the New Normal...on the cusp of THE greatest and MOST rapid demographic, investmet and consumption change in the history of humanity.

You think "price inflation" is low now? When Japan still relies on local consumption for more than 60% of its GDP growth? lol. Just wait until 30-40,000,000 new retirees, due to retire this decade, shift from the meager consumption patterns you see now to squeezing every last yen out of their insufficient (and mostly zero-interest earning, thanks, BOJ!) savings!

I'm sure you remember the huge outcry when a government official had the temerity to admit that people need at least 300,000 USD in SAVINGS (not in housing) to see them through the 30 years an average Japanese person now lives after retirement. So, buckle up, Buckeroo~ the party is just getting started! You ain't seen fiscal and monetary pressures yet, but to blithely assume Japan will continue to print paper to "retire" it's people when there's no base market left as well, well...talk about "irrational exuberance!"

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"Climate change issues could exert an extremely large impact on economic activity, prices and financial conditions from a medium- to long-term perspective," the BOJ said in a statement.

Thank goodness the central planners at the BoJ are experts on climate change. It’s gonna be ok.

it will be modeled after a similar program that offers cheap loans to financial institutions that boost lending in areas considered to be growth industries.

Central planning galore isn’t it.

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There is money to be made selling "snake oil" green crap to the US and North America.

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Why don’t all BOJ members become vegan-real progress!

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@ JeffLee

Maybe it has escaped your notice but inflation is already in Japan but it is being hidden to a large extent.

Retail food items show this trend.

Looking for product volume and weight is always a task in Japan.

And there are times when the volume of the bag is four or five times larger than the product inside.

There is even a word for it...

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@Hito Bito

The baby boomers started retiring 10 years ago. I recall in the lead-up to that, your ilk were on the dooms-day soapbox, predicting collapse. Sorry, it didn't happen.

We have some economic problems now, but that's because of covid. Employment remains strong, current account surplus ballooning, prices are stable and household net worth was rising until covid. What's more, the middle class is relatively strong, unlike in most other Western countries, where it's shrinking at an alarming rate.

There's no shortage of "Japan is doomed" narratives, over the past 20 years . The problem is that real events (see above) have proved them wrong.

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@JeffLee

Try living outside Japan for a bit.

You'll soon see how poor the Japanese really are!

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