New Finance Minister Aso hits out at BOJ

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  • -2

    some14some

    Yes, BOJ was supposed to hike wages of all workers (public/private sectors), it should have inspected wasteful use of money by the govt.....list goes on.... sarcasm over? no, to be continued.

  • 0

    globalwatcher

    some14someDec. 28, 2012 - 07:28AM JST

    That's not a responsibility of BOJ. FYI

  • -1

    semperfi

    some14some: There is a lot about the new LDP Gov't to dislike. . . In fact .it is actually the apathtic selfserving LDP "leadership" over the past 50 years that brought Japan to this place of disrepair. . . . .. .The DPJ had no clue how to manage the mess without Ozawa ( who got pulled into a pseudo-legal mess of his own making) .. . . . ....That notwithstanding, the JAPANESE YEN MUST BE LOWERED FOR JAPAN TO COMPETE INTERNATIONALLY...................... If J- companies do not sell their products,the country will go belly-up & no one will end up having a job . . . . . . It basic economics. . . . . . . . .Japan has NO PRIMARY INDUSTRY ( outside of fishing) . . It sustains itself via SECONDARY INDUSTRY . . .so its Yen MUST remain competitive.

  • 1

    papigiulio

    Aso as the minister of finance is the same as TEPCO in charge of the Fukushima clean up....a really bad idea.

  • -1

    semperfi

    papigiulio :

    Aso as the minister of finance is the same as TEPCO in charge of the Fukushima clean up....a really bad idea

    I agree with you entirely. ...................... However, regardless how nauseatingly inappropriate many of the appointments in the cabinet are - - - the BOTTOM LINE is that someone needs to get the BOJ do what us right for the Yen- - - -and ultimately for the J companies and Japanese .

  • 1

    herefornow

    Earlier Thursday, Aso said a planned doubling of Japan’s sales tax to 10% by 2015—pushed through earlier this year by the ousted Democratic Party of Japan—may be put on hold unless Japan’s economy picks up.

    So they are going to print money to spend on new roads, dams and bridges, while also lowering the expected tax revenues. Japan is clearly headed for a 300% debt to GDP ratio and further lowering of their bond ratings. Wow. And, since the extra 5% of the consumption tax was supposed to go towards the rapidly increasing social costs caused by the aging population --medical and pension -- one has to wonder what the LDP will do.

  • 0

    paulinusa

    I do agree the BOJ hasn't been proactive enough and there should also be some stimulus spending, but it has to limited,targeted and not wasted on unneeded projects (good luck with that though).

  • 1

    Mirai Hayashi

    some old faces...the more things change, the more they stay the same

  • 0

    globalwatcher

    DogDec. 28, 2012 - 10:49AM JST

    Production should be determined by the market need and not what you are able to produce

    Dog, exactly. You are in Demand Side ideology as well as I am. I just want to tell you Supply Side idiots had built Tinseltown and shopping center in middle of nowhere (cornfield) here in my city, and they are now being left empty as nobody want to drive 10 miles to see movies. That's exactly what Japan is doing.

  • -1

    tmarie

    This party is a joke. How many former PMs who sucked are going to be running the show. Next up, Hatoyama. Shame these guys are looking at the problems THEIR party caused for oh, 60 years? Why is there no money? Oh right, highways, bridges, damns... And a former PM who didn't know he has to pay into the pension scheme... Unreal.

  • 2

    edojin

    Aso and his LDP cronies are just itching to get their paws on that Bank of Japan money. The government, meaning the LDP, wants to take over the bank. If this happens, then we've got more than inflation to worry about . Gotta watch where they put those long sticky fingers ...

  • 2

    Aristoman

    Funny to see all those looser PMs coming back. Aso got Famous for bad reading of jp kanji. Lets hope he can count better.

  • 0

    Waxman

    The remarks by Taro Aso.......A so desu ka!!!! From prime minister to finance minister......God help these men with some bright ideas otherwise most of us know what they are capable of doing!

  • 1

    Redcliff

    BOJ should set the inflation rate in accordance to the economic environment and should be free of any interference from politicians.

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