Japan’s ruling party, Liberal Democratic Party, is now ramping up efforts to throw more money to the public in an effort to support the country’s economy amid trade war tensions across the globe.
The residents of the country currently rank as the lowest among 30 in terms of life satisfaction and could be given between 30,000 to 50,000 Japanese yen. Anyone who really knows politics knows that countries do not act, individuals do. And the individuals ruling both Japan and the US in the guise of “government,” seem to agree that fiscal recklessness at the expense of the populace is A-OK.
Japan’s ruling party ramps up cash handouts
The LDP has just floated the idea of revving up the money printer to toss a few breadcrumbs to struggling Japanese residents, in light of Donald Trump’s tariff trade war on the country’s businesses. “We have conveyed our concern and strongly asked (the United States) to review the tariff measures at various levels,” Chief Cabinet Secretary Yoshimasa Hayashi said.
According to sources familiar with the matter, the cash giveaway is also Japan’s response to the growing inflation in the country. Prime Minister Shigeru Ishiba had previously called Donald Trump’s tariffs regrettable, but residents have called the concerns insincere. The PM has been said to love dumping money in the US amid his big budget on Japan’s defenses. He recently announced plans to pour a staggering one trillion yen into U.S. initiatives and to boost military spending in Japan, and a military alliance with the United States government.
The cash handouts are supposed to be between 30,000 to 50,000 yen, which is worth $200-$350 at current exchange rates. The fund doesn’t appear to be a big help to people who cannot even afford rice anymore, and a reckless endeavor considering the current weakness of the yen. Another issue is the already loose money printing machine, critically leading up to the current economic weakness was the mass creation of cash from thin air during the so-called “coronavirus pandemic,” as well.