The following is from Hideo Tamura's regular column in yesterday's Sankei Shimbun titled "Overproduction is a boomerang for the Xi Jinping administration."
It is evident that most people who speak out on economic issues in Japan, including the mass media's economics editorialists and so-called economists, do so based on information they have received from the Ministry of Finance and the Bank of Japan.
It is indisputable that the restrictions on the total amount of loans issued by them in April 1990 were the beginning of the deflation that continues to plague Japan today.
It is indisputable that due to their economic policy mismanagement, Japanese workers' wages have stayed the same for 30 years, and Japan's GDP has been declining since 1990.
It is a clear fact that Shinzo Abe's Abenomics brought Japan's economy back to a level that exceeded the GDP level in 1990, if not higher.
It is also indisputable that Shinzo Abe's policy to end deflation was one of the greatest in world economic history.
It is also indisputable that Paul Krugman and John Stiglitz, both Nobel laureates in economics, praised Abe's policies for their correctness.
The latter visited Japan and met with Prime Minister Abe at his official residence, where he encouraged and praised him.
It is also an obvious fact that not only did they fail to understand Prime Minister Abe's extremely correct economic policies, but that they were repeatedly criticized and attacked by the Ministry of Finance, the Bank of Japan, the mass media's economics editorialists, and so-called economists, who are all recipients of their information, and who are math-illiterate and economically illiterate graduates of the University of Tokyo's Faculty of Law.
On the other hand, it is also an obvious fact that the GDP of the U.S. has tripled in the past 30 years from 1990 levels.
It is no exaggeration to say that Yoichi Takahashi and Hideo Tamura are the only people with the brains to write a correct editorial on the economy.
It is a must-read not only for the Japanese people but for people worldwide.
This article continues.
2024/7/30 in Onomichi
