Having completed his militarist plans, Japanese Prime Minister Shinzo Abe appears to have gone full fantasy-tard with his latest “plans” for the demographically-dead and debt-destroyed nation. “Creating a strong economy will continue to be my top priority,” Abe said, a goal he has stunningly under-achieved as Japan heads for its 5th recession in 4 years, but, as Bloomberg reports, it is his new “arrows” of economic hope that has left analysts scratching their heads – 20% economic growth (when its gone nowhere for years), a higher birth rate (as the aging of the nation accelerates and interest in sex plunges), and allegedly a goose that lays golden eggs (well why not?). The collapse of Abe’s approval says it all about his ‘plan’.
As Japan heads for a Quintuple Dip recession…
Abe proposes three new policy pillars without tying them to his previous plan. As Bloomberg reports, it has left analysts scratching their heads…
Speaking Thursday after his reappointment as leader of Japan’s ruling party, Abe unveiled three new “arrows” of his so-called Abenomics plan — a strong economy, child-care support and social security. When he took office in 2012, he had championed another trio — monetary stimulus, flexible fiscal policy and structural reforms.
But with the new policies sounding more like objectives rather than measures to achieve them, the risk is this fresh framework muddies his communication battle to encourage Japanese households and companies to spend rather than save.
“Investors like details, but all he’s done is announce targets,” said Mari Iwashita, chief market economist at SMBC Friend Securities Co. in Tokyo. “The growth strategy, one of the original three arrows, has branched off into three new arrows.”
Speaking to reporters Thursday, Abe avoided mentioning monetary or fiscal policy, as well as tricky regulatory reforms that many economists say are