Seven comments

Clinical Trial Data from 201 children:

https://www.nejm.org/doi/full/10.1056/NEJMoa2208601

11% "Serious Adverse Events"

Possible Side Effects:

https://www.fda.gov/news-events/press-announcements/fda-approves-new-drug-treatment-chronic-weight-management-first-2014#:~:text=The%20most%20common%20side%20effects,%2C%20flatulence%20(gas%20buildup)%2C

"The most common side effects of Wegovy include nausea, diarrhea, vomiting, constipation, abdominal (stomach) pain, headache, fatigue, dyspepsia (indigestion), dizziness, abdominal distension, eructation (belching), hypoglycemia (low blood sugar) in patients with type 2 diabetes, flatulence (gas buildup), gastroenteritis (an intestinal infection) and gastroesophageal reflux disease (a type of digestive disorder). 

The prescribing information for Wegovy contains a boxed warning to inform healthcare professionals and patients about the potential risk of thyroid C-cell tumors. Wegovy should not be used in patients with a personal or family history of medullary thyroid carcinoma or in patients with a rare condition called Multiple Endocrine Neoplasia syndrome type 2 (MEN 2). 

Wegovy should not be used in patients with a history of severe allergic reactions to semaglutide or any of the other components of Wegovy. Patients should stop Wegovy immediately and seek medical help if a severe allergic reaction is suspected. Wegovy also contains warnings for inflammation of the pancreas (pancreatitis), gallbladder problems (including gallstones), low blood sugar, acute kidney injury, diabetic retinopathy (damage to the eye's retina), increased heart rate and suicidal behavior or thinking. Patients should discuss with their healthcare professional if they have symptoms of pancreatitis or gallstones."

Draw your own conclusion...

@JeffLee

The "proceeds"?! The 0.25% on the 10yr with an inflation rate (CPI) of 3.7% YoY will provide "proceeds" when the bonds roll off!?

The unrealized losses of 875B ¥ on JGBs that no one else is willing to buy is hardly "nothing to see here".

There is plenty "to see here"... but of course, one would have to open their eyes to see.

Let's dig a little deeper:

https://www.shionogi.com/global/en/news/2022/11/e20221122.html

https://biopharma.media/xocova-powerful-new-japanese-drug-for-coronavirus-treatment-3494/

I will refrain from sharing my opinion. Draw your own conclusion.

@JeffLee

My apologies, I should have bolded See: Japanese Public Finance Fact Sheet

It is the 4th bullet point in the link, and on page 46 you can get some clarification on the insolvency issue that I thought you were confused about.

Your quote: "Insolvency is a situation at companies and for individuals, not govt, especially ones like Japan's."

See: Yubari, Hokkaido and Akaike, Fukuoka (and possibly Kyoto) for a few examples of insolvency/bankruptcy "situation" within govt.

Your quote: "And yet the BOJ is continuing its unlimited bond purchasing program, amid near zero interest rates and the lowest inflation of just about anyone. How can that be possible? Care to explain?"

I believe your question was asked, and then clearly addressed by fxgai above, but I will try to explain further...

There have consistently been "no bids" for JGBs, which means no one is willing to take the risk of holding debt of an insolvent entity (except the BOJ that can create money to buy the bonds) at a laughable rate of return, which is below the current inflation rate, priced in a deteriorating currency. It's just clearly not worth the risk, unless of course you're the one that can create money to buy the (junk) bonds.

To simplify, I'll take a corporation like AMC to use as an example. AMC recently offered Junk Bonds with a yield of a whopping 15%! AMC, currently insolvent, is considered a high risk "investment", therefore lenders command a higher rate of return to compensate their risk of holding the debt.

If there were no buyers of AMCs debt, they can just create money to buy their popcorn and overpriced movie tickets...oh wait, you can't just create money to buy your own junk! If you mismanage your company to the point of insolvency, you go bankrupt... same goes for government.

Or, I suppose, you can just keep creating money, backed by nothing, without inducing any new production of goods and services, inflate the price of the existing goods and services, while the purchasing power of the currency you are creating diminishes further by the day.

I don't have a degree in economics and, not to be rude but, this is basic, basic stuff here.

Anyways, hopefully that explains how The BOJ can create money to buy government debt that nobody else in the world will even touch!

A sad state of affairs indeed.

How about we strive for next year's character of Peace, Happiness, Prosperity, Hope, Kindness, Respect, or any number of POSITIVE characters!?

@JeffLee

https://www.mof.go.jp/english/policy/budget/budget/index.html

See: Japanese Public Finance Fact Sheet

Hopefully this will help your apparent confusion of the situation. Page 46 should help to clarify your statement regarding government insolvency.

Perhaps I can suggest you do a bit of research on "BOJ received no bids...or...no takers JGBs...or... emergency bond buying BOJ" to provide clarity to your question of "Why not issue bonds?"

Hopefully this will improve your (and others) understanding of the situation.

jeffb

Thank you for posting the clip of Dr Fukushima clearly stating, in my opinion, the obvious.

Here's a video from a few months back with Yale Professor, Harvey Risch, stating similar facts:

https://youtu.be/QLshMw9POI0

People...you're free to draw your own logical conclusion.

@Sven

"Helicopter money"?!

I still can't tell (and you didn't respond to my inquiry from a couple days ago)...

Giving people money to spend on things they did not produce so we can experience "healthy" inflation?!

You're joking right?

@Sven

"Helicopter money" is the solution to inflation, economic contraction, and currency devaluation?

I'm sorry, that's sarcasm...right?!

Another "divide and conquer" article.

This morning it's tobacco smoke, now the always divisive vaccine nonsense.

Keep them fighting over trivial "issues" so they don't come after us.

Every. Single. Day!

Riding on the wrong side (salmoning).

Failure to yield.

Failure to stop at stop sign/red light.

Phone in hand.

Umbrella in hand.

Failure to yield for pedestrians on sideWALK.

Using the crossWALK instead of following traffic signals.

Blowing through the stop sign because the crossWALK is green.

Pressing the crossWALK button to cross the street instead of stopping at the stop sign and proceeding when clear.

Vehicles turning left, overtaking cyclists going straight.

And on and on and on...

I mean...isn't this basic, just basic common sense?!

It's very confusing to me how much time, energy and effort goes into "driver training" to get a license, yet seemingly zero goes into educating people how to PROPERLY operate a bicycle!

Education, NOT "red tickets" is the solution to "minimize cases of injury or death".

My solution to protect myself from potential liability...I have installed a bicycle "drive recorder" on my handlebars, and I recommend you do too!!

"Most funds would have to be secured by issuing government bonds."

https://www.bloomberg.com/news/articles/2022-10-11/trading-drought-worsens-in-japan-s-broken-bond-market

Create MORE debt that nobody wants to buy, create MORE Yen to buy the newly issued debt, subsidize the corporations AND consumers.

More Yen in the system, in the hands of consumers that are not producing goods/services to consume, creating even higher inflation. The same Japanese consumer that also has competition from tourists coming in with a stronger currency to create more demand for a dwindling supply of goods that are not being produced.

"Kishida has instructed officials to focus on steps to ease the pain of accelerating inflation and address yen weakness, spur wage growth and rejuvenate the economy."

By creating more inflation and further devaluing the Yen?!

...and this, barely scratches the surface.

'The ministry said taxi companies had requested the fare increase due to the rising price of fuel."

https://japantoday.com/category/business/japan-to-extend-oil-subsidy-program-to-next-spring-to-curb-price-hike

Draw your own conclusion...

"No reaction, as always. If the PM is shot, a NK missile comes flying or corona cases massively rise again, everything is fine. What’s the branding of their perfect tranquilizers?" -Sven

I just pictured this guy, sitting on a packed train clad in his bullet proof vest, radiation suit, and a Pfizer branded IV drip with his boy Steve sitting next to him singing "we're the responsible majority! we're the responsible majority!"

These guys aren't serious...are they!?

Settle for 900 million one day, potentially make billions (more) the next.

Funny how the article neglects to include yesterday's Biogen news:

https://www.justice.gov/opa/pr/biogen-inc-agrees-pay-900-million-settle-allegations-related-improper-physician-payments

Wow...these comments!!

You have been divided, now you are being conquered.

"An experts panel of the ministry is expected to discuss soon whether they should be approved."

More like...

"An experts panel is waiting for their checks from Pfizer and Moderna to clear before they are approved."

Or perhaps...

"An experts panel, citing incomplete/inconclusive clinical trial data, is unlikely to approve."

Four confirmed cases in Japan.

"This article was written for the purpose of creating (even more) unnecessary fear, anxiety, confusion, hate, and division.

With only four cases in Japan, it is not even worth writing about. The goal, as you will see clearly in the comments below, is to divide the people and keep them fighting each other, while distracting them from what is REALLY going on."

I guess the editor just forgot to add the disclaimer to this "news article."

"Please remove personal protective clothing before security screening."

Great photo for the headline!

Whew! Good thing I got my negative PCR 71 hours ago, otherwise I would be taking a huge risk going through security! Good thing I'm septuple vaxxed, I can take off ALL my clothing before security!...except of course...my mask!

Just curious...

How many people in the comments have read and analyzed any of the EUA Submissions to The FDA in regards to the Covid Vaccines?

Wow...these comments!

You have been divided, now you are being conquered.

@Ego Sum Lux Mundi

Can you please post a link to the Nature/Lancet study? Thank you.