Anti-Russia Kishida hits another economic negative: Wholesale inflation high
Sawako Utsumi and Lee Jay Walker
Modern Tokyo Time
The two certainties of the early leadership of Prime Minister Fumio Kishida are endless anti-Russia policies – followed by recent negative highs concerning economics. Therefore, wholesale prices have just hit a new high under Kishida.
The monitoring of wholesale prices began 41 years ago in Japan. Thus, the latest gloomy news under Kishida, who announced the highest military budget in the history of this country, says much about his early policies.
Kishida understands that over three squandered economic decades have happened mainly on the watch of the ruling Liberal Democratic Party (LDP). He also knows that over two decades of static wages are blighting the country. Likewise, Kishida fully understands the economic coronavirus (Covid-19) convulsions despite being rich himself (he comes from the silver spoon political elites that dominate the ruling LDP). However, despite these negative economic factors, Kishida continues with his anti-Russia obsession by creating more pain for Japanese companies and ordinary citizens.
Kyodo News reports, “Surging energy and raw-material costs are threatening to eat into corporate profits unless they are passed on to consumers. A growing number of companies are raising prices in line with increasing costs, while consumers are starting to feel the pinch.”
From April to April, wholesale prices have surged by 10 percent. However, just like the weakening Japanese yen – and other negative economic news – Kishida focuses on anti-Russia policies to appease nationalists within the ruling LDP – and to be the rubber-stamp of America.
Japan is blighted by the highest debt ratio in the world. Yet, despite this, Kishida announced Japan’s highest ever military budget. The Komeito Party, the junior partner in the coalition, is extremely worried about the wayward policies of Kishida.
Natsuo Yamaguchi, the leader of Komeito, said, “It’s impossible. Where do we get the money for that?”
Modern Tokyo Times recently stated, “Kishida, only in power for over just six months, is a disaster in the making for a country blighted by debt. Thus no shock that the yen hit a 20-year low to the dollar under his administration so soon. Likewise, Japan logged its second-largest current account deficit (since statistics began in 1985) in January under Kishida. Therefore, with Japan being blighted by approximately 1.4 quadrillion yen in debt (roughly $13.1 trillion US dollars and 260 percent of GDP) – and the second-largest current account deficit since records began in 1985 – it is presumed that Kishida would be more prudent.”
On the contrary, Kishida approved the highest initial budget planned for 2022. This entails approximately one-fifth of Japan’s entire GDP. Defense spending also reached its highest figure under Kishida. Therefore, approximately 107.6 trillion yen (940 billion dollars) will further burden this indebted nation – without altering the economic malaise.
Kishida lambasts the Russian Federation in Asia, Europe, and North America at the drop of a hat. However, at home, important economic issues are not being addressed adequately.
Instead, for Kishida, it is “Ukraine, Ukraine, and Ukraine!”
Followed by more debt and negative economic news.
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