Kishida orders crafting of inflation-relief package by early September

Japan's gross domestic product returned to a pre-pandemic level in the April-June quarter, but accelerating inflation could put a damper on private consumption, a main driver of growth.

Which is why decades of neo-liberal policies and corporate welfare have been such a failure for the Japanese economy.

All the aid to companies and much of the disproportionate corporate profits has been funneled into the stock market through buybacks or tax avoidance schemes, in Japan and taking the Japanese taxpayer's treasure overseas.

Direct support to the public would almost immediately be put into consumption and stimulate economic growth, especially if it was as steady and long-term as the LDP/BOJ basic income for the financial industry, QE monetary easing.

Kishida ordered?

He didn’t urge?

Unbelievable!

If he were really serious, he would call in the BOJ and make an agreement with them to can this dopey 2% inflation target that the central planners have ostensibly been aiming for, for these last 9 or 10 years.

Stable prices means 0% inflation. Not 2% inflation.

Consumers liked it that way.

So Kishida, get with the program and quit this unstable price target of 2% increases.

And get a bit neoliberal and stop the government control of prices of agriculture and the like too, while you’re at it. Free market prices make supply and demand meet as is appropriate.

And get a bit neoliberal and stop the government control of prices of agriculture and the like too, while you’re at it. Free market prices make supply and demand meet as is appropriate.

That is where many of the neo-liberal arguments break down. Wealth attracts political power and vice versa.

There is a strong poltical component of the LDP's agricultural subsidies, as is well known.

The LDP depends on that rural base.

you could get very good priced wheat from Russia instead of this you play a big man with sanctions and will squeeze japanese taxpayers to pay for higher cost.

btw wheat price is some 30% down last few weeks,but yes LDP may did not get that fax yet...

EastmanToday  12:35 pm JST

you could get very good priced wheat from Russia instead of this you play a big man with sanctions and will squeeze japanese taxpayers to pay for higher cost.

btw wheat price is some 30% down last few weeks,but yes LDP may did not get that fax yet...

Absolutely right. These self-righteous politicians never give tax-payers decent thought.

That is where many of the neo-liberal arguments break down.

There is no such breakdown.

Government has no business setting prices of agricultural goods, and various other prices.

We need neoliberal reforms to abolish that.

There is a strong poltical component of the LDP's agricultural subsidies, as is well known. 

The LDP depends on that rural base.

None of which is neoliberal abolishment of subsidies for favoured groups or price controls - it’s the opposite, the old status quo.

It’s amazing that some people claim to think the status quo of big government control is better than a free market alternative.

I think avoiding sanctions to Russia is the most smartest option.