NO.031 Created on March 23, 2013. New and vice-presidents were appointed to the BOJ. This determined the failure of Abenomics. Isn't Avenomics saying that something was wrong? ・・・ Theme label: MMT. Pension government bonds. Keynes policy by the Bank of Japan's direct purchase of government bonds. These suit the principles of macroeconomics., Category label:macroeconomics,

The following article was written about Abenomics six years ago. In order to avoid cyber violence, I was refraining from posting at a place where I made it public.

Recently I opened this blog to publish the second article of this blog, because I knew that the historical significance of the Constitution of Japan was described in the preamble of the San Francisco Peace Treaty. I will post this article.

There is no intention of slander. As we are identifying individuals, we have to consider them. The economy is directly linked to life, so it may be a more emotional way of writing.

However, what I stated below, I am still holding suspicion.

○ March 23, 2013. 3 pm

The new president and vice president took office as the Bank of Japan. Now the failure of the abenomics has been determined.

At first, Prime Minister Abe had said, "The government will issue new government bonds, make them buy directly to the Bank of Japan, and carry out public works with that fund." ... Abenomics will succeed if we defend this word to the end, deflation will only be successful.

One truth has become clear. ... "The economy will not recover and deflation can not be lifted unless the government pays at the expense of the new debt of the national finances."

There will be people who say, "If you do such a thing, the national finances will collapse." ... let's say this. It can be said, "If deflation of the state is not compensated, it can not get over deflation.”

In the United States, things of the same character took place almost at the same time. ... The US government raised the legal ceiling on national debt.

As the US government became able to borrow money anew, the United States also began to head for economic recovery at the same time as Japan.

Investors all over the world have no choice but to buy the entire US government bond issued by the US government. ... If the US government bond goes down, it will continue to operate with the US bond, because their assets will go down.

It will be said that there are those who can understand the truth in Japan and in financial markets all over the world. ... Those who understand the truth of financial markets all over the world may be laughing at foolery such as central banks and IMFs in each country.

However, in Abenomics, its essence has been replaced with something completely different.

Japan's current financial assets are said to be at least ¥ 1200 trillion, and most of them are being managed by government bonds and the like. If the government bonds go down, these financial assets, such as the government officials, also go down.

If Prime Minister Abe first said, “The government will issue new government bonds and make them buy directly from the Bank of Japan”, there will be no room for profits for the head-to-bottom officials, and only the risk of government bond failure will increase. .

So, "the government bond that the BOJ newly issues and purchases BOJ notes" has been replaced with "the government bond that has been issued in the past, held by banks etc.".

The assets of the bureaucrats who went down are managed with government bonds that are concerned about bankruptcy, but the purpose is for the BOJ to take over the government bonds.

And those who suggested that "the government issued new government bonds and made them to buy directly to the Bank of Japan and make public investments. (This is a legitimate Keynesian policy.)" would have been excluded. . And Kuroda et al. would have taken office as the BOJ president and vice president.

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