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© Thomson Reuters 2021.Suga to compile big stimulus package around summer: Nikkei
By Leika Kihara TOKYO©2024 GPlusMedia Inc.
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© Thomson Reuters 2021.
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robert maes
ahh elections…
Kaerimashita
Slow death of late stage capitalism and the role of fiat currencies in the world economy. Governments and central banks in most developed nations now have no other solution to the worlds economic problems than borrow, print and spend. None of this bodes well for the next decade.
dagon
Opposition parties have called for a package sized around 30 trillion yen ($274 billion), a proposal Suga brushed aside in a debate with their leaders on Wednesday.
While the Nikkei did not report the expected size of the package, some analysts put a ballpark figure of 20-30 trillion yen as it would be enough to fill Japan's output gap - or the estimated size of slack in the economy.
Not having seen the particular's of the opposition's proposal, it probably included needed relief to the public, languishing in a K-shaped "recovery" and that was a no go for Suga.
Got to have enough lying around for subsidies for Japan Inc. donors, pork for the rural base pre-election, and the Olympic fallout before using an election mandate to raise regressive taxes on the public who will be paying the bill for the Olympic boondoggle and pandemic mismanagement!
snowymountainhell
Oh, so this is where all the money was during ‘all the stalling’?
for a last ditch “suck up” before an election!
Wakarimasen
Borrow, print and spend. Our financial elites are leading us on the road to ruin.
virusrex
Hopefully this will be distributed much more transparently than the last ones, letting huge companies with ties to the government get a big chunk of the money is not something that inspires confidence.
fxgai
Well the debt shows up pretty fast as one effect, but indeed still waiting to see positive effects of persistent deficit spending over the last few decades… any day now for sure