Japan's new PM is doubling down on the monetary merry-go-round, promising more easy money to "fight deflation." But let's call this what it really is - another sad chapter in the global farce of artificial GDP growth. During a recent press conference that could have been scripted decades ago, Ishiba demanded that the Bank of Japan continue its role as the nation's premier money printer.
Key points of this economic theater include:
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Ishiba's call for the central bank to maintain its ultra-loose monetary policy, a strategy that has worked wonders for Japan's stagnant economy over the last 30 years (insert eye roll here).
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The PM's carefully worded non-commitment to specific monetary measures, hiding behind the facade of central bank independence. How convenient.
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The announcement of yet another "stimulus package" - because the previous dozen or so worked so well, right? This economic band-aid will allegedly include handouts to low-income households, surely solving poverty once and for all.
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A vague promise to "reduce the burden of rising prices" - presumably by printing more money, which definitely won't contribute to those rising prices. Nope, not at all.
So far so good. While Japan fiddles with its yen printer, the rest of the world is busy with its own economic hallucination: the so-called "Green New Deal." This isn't about saving the planet, folks. It's about pumping up GDP numbers with monopoly money and feeding a new breed of parasite - the "green entrepreneur."
These eco-preneurs are masters of the government handout, experts at filling their pockets with printed cash while producing nothing the average person actually wants or needs. They're like economic vampires, sucking the lifeblood from productive sectors and leaving a trail of useless solar panels and bird-chopping windmills in their wake. The economic fall of Germany as a consequence of this accelerated mal-allocation of capital is the most prominent example of this terrible comeback of state interventionism and rainbow socialism.
What we need isn't more government "stimulus" or green fantasies. We need a free capital market to flush out these money-grubbing charlatans and force them to find real jobs. Imagine that - contributing to society instead of leeching off it!
But don't hold your breath. As long as the money printers keep humming - from Tokyo to Washington - these green grifters will keep thriving. Welcome to the brave new world of state-sponsored eco-socialism, where the only thing that's truly green is the freshly printed cash (at least in the US).
