Possibly the last hurdle that was standing between us and next year's budget has now been jumped:
Cabinet crafts record ¥96 trillion budget
We still have to actually apply for our jobs in the next few weeks, but at least it seems there will be jobs to apply for.
Not that the budget actually makes any sense, but Japanese economics never has, at least not since we got here. The basic budget would stretch credulity by itself, but on top of that there's a chunk of "extra budget" to plug the gaping holes that the tsunami punched in the nation's infrastructure. When the borrowing requirements come home to roost we can leave easily enough. The natives, on the other hand...
Cabinet crafts record ¥96 trillion budget
We still have to actually apply for our jobs in the next few weeks, but at least it seems there will be jobs to apply for.
Not that the budget actually makes any sense, but Japanese economics never has, at least not since we got here. The basic budget would stretch credulity by itself, but on top of that there's a chunk of "extra budget" to plug the gaping holes that the tsunami punched in the nation's infrastructure. When the borrowing requirements come home to roost we can leave easily enough. The natives, on the other hand...
1 comment:
"When the borrowing requirements come home to roost we can leave easily enough."
If handled correctly perhaps not, per Krugman.
OTOH I suppose the "handled correctly" part may be a little shaky given that the mishandlers are still largely in place and really don't want to admit past error.
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