politics

Aso defends monetary policy, weak yen

10 Comments
By Leika Kihara

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10 Comments
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Kuroda-ing the Yen.

1 ( +4 / -3 )

At the end of the day, a shrinking Japan can only do harm to the world,

How exactly? What can Japan produce that no other country can? In reality, that which is truly unique to Japan (not what Japanese people think are unique to Japan) can be produced by a couple thousand people.

1 ( +6 / -5 )

How exactly? What can Japan produce that no other country can? In reality, that which is truly unique to Japan (not what Japanese people think are unique to Japan) can be produced by a couple thousand people.

Because Japan is the world's 3rd largest country it is materially large enough to impact, not because it is unique and irreplaceable.

5 ( +6 / -1 )

“Deflation is like a slow-motion death, by losing temperature,” he said. “It is already too late, when you have finally become aware, that you are a hostage, and that you cannot escape the vicious cycle.”

Seems like 20 years was long enough to realise. The frost bite has been claiming more than a few fingers.

1 ( +2 / -1 )

Because Japan is the world's 3rd largest country it is materially large enough to impact, not because it is unique and irreplaceable.

Yes. The world economy is so fragile that even a small country like Greece collapsing would be a major shock worldwide. If/when Japan collapses, the impact will be huge.

3 ( +3 / -0 )

Every single word a politician says is a lie. Aso is lying through his teeth.

Let's see what the Japanese economy looks like two years from now.

-2 ( +2 / -4 )

The yen was too strong and letting it fall is good except for English teachers and US military. Their COLA goes down with a weaker yen. Money they would just spend on base or save. A weaker yen means they will buy more stuff off base.

0 ( +1 / -1 )

YuriOtaniApr. 21, 2013 - 04:57AM JST

The yen was too strong and letting it fall is good except for English teachers and US military.

Duhhh 100% wrong, as usual.

Japanese households, since 60% of their food is imported,

Japanese motorists, since fuel is 100% imported.

Japanese multinationals since buying foreign assets and companies become cheaper.

Japanese manufacturers, my own line of work, since raw materials are cheaper.

The list could go and on. The myth that Japan's recent economic ills were due to a strong Yen will soon be shown to be the myth that it was. No matter how cheap the Yen, people aren't going to dump their Samsung Galaxy or Apple I phone for some Japanese product.

-2 ( +2 / -4 )

The problem Dog is Japanese products become too expensive. As for dumping the two garbage phones you mention, who can say? What is popular today is not in the future.

1 ( +2 / -1 )

Aso claims he wants to use "every possible means" to end deflation. The obvious way to do it is to print Y100000 for every person in the country and hand it out. Keep doing it until inflation reaches the desired target. This is a very simple, direct approach that is guaranteed to work, but they won't do it.

0 ( +1 / -1 )

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