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Give It Up, Man
"I think yield-curve control is entirely sustainable," Haruhiko Kuroda said Wednesday, after the Ban
“Analysts see BoJ on borrowed time,” a Bloomberg bullet point read. I suppose that’s fine when you can just suppress borrowing costs forever.
I love starting my day with a good laugh!
Haruhiko Kuroda is a modern day version of “The Last Samurai” – which is one of my all time favorite movies about an American soldier (Tom Cruise) who becomes involved with the samurai rebellion against the Japanese imperial government during the late 1800’s.
The Bank of Japan owns over 50% of all of the outstanding bonds issued by the Japanese government. So they print one….and then they print another one (because over 40% of the bonds not owned by BOJ are owned by Japanese banks, Japanese corporations, and Japanese pensions.)
Japan might currently have a wage inflation problem, but their biggest problems in the next decade are coming from this:
https://m.statisticstimes.com/demographics/country/japan-population.php
“Tempest in Teapot.”