Assessment: Large-scale money printing was one of the three official legs of Abenomics as Japan’s debt to GDP grew to 256%, the highest in the world. The nations are addicted to money printing …
Japan must swiftly consider economic stimulus measures amid rising prices, and will eventually need an extra budget, a close aide to Prime Minister Fumio Kishida said.
“If you look at the Japanese economy, the surge in oil prices and food prices means that an economic package is essential at some point,” Deputy Chief Cabinet Secretary Seiji Kihara said in an interview with Bloomberg at the premier’s official residence Friday. “We can’t be slow. To be honest we have to think about it quickly.”
“And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.” Rev. 6:6
(Japan may soon come up with a digital version of yen in order to counter China’s digital yuan)
He added an extra budget would be needed, but that now was not the time. A majority of economists surveyed by Bloomberg expect Japan’s economy to shrink this quarter, as virus curbs and higher energy prices caused partly by the war in Ukraine hit consumers. The growing likelihood the economy may slip into reverse could amplify calls for more government stimulus.
Most Analysts Now See Japan’s Economy Shrinking This Quarter.
Kishida told a news conference Wednesday the government would respond nimbly if rises in food, fuel and raw material prices persist for a long period.
Read More @ Bloomberg Quint HERE