The Center of the Universe

St Croix, United States Virgin Islands

MOSLER'S LAW: There is no financial crisis so deep that a sufficiently large tax cut or spending increase cannot deal with it.

Japan- Govt Seeking Y340bn For Extra Budget

Posted by WARREN MOSLER on October 25th, 2010

The only nation going in this direction?

Probably too early to short the yen, but keep an eye on it…

Govt Seeking Y340bn For Extra Budget

TOKYO (Nikkei)–The government is looking to secure 336.9 billion yen in a supplementary budget for fiscal 2010 to implement its new growth strategy, The Nikkei learned Monday.

The draft budget, to be approved at a cabinet meeting Tuesday, aims to ensure a stable supply of rare earths and to fund the eco-point program for housing, among other priorities.

About 319.9 billion yen is expected to be spent on job creation, including 51.1 billion yen for employment and training of new graduates and other young people.

(The Nikkei Oct. 25 evening edition)

2 Responses to “Japan- Govt Seeking Y340bn For Extra Budget”

  1. Ralph Musgrave Says:

    A bit off topic: there’s an interesting paper here which claims Japan’s lost decade was due to their funding their stimulus from borrowed money rather than new or “printed” money. I.e. they didn’t follow the MMT prescription: increase private sector net financial assets in a recession. The authors’ METHOD of increasing psnfa is odd: have government borrow from commercial banks. That strikes me as unnecessarily complicated, though it ought to work.

    http://repec.org/mmfc04/9.pdf

    Reply

    WARREN MOSLER Reply:

    not worth reading, unless you REALLY have a lot of time to kill ;)

    Reply

Leave a Reply

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>