In response to an FT article by Ben McLannahan and Kana Inagaki on 18th November 2014, entitled 'Shinzo Abe delays tax rise and gambles on snap election'
Dear People of Japan
Sorry about the fact that I raised your taxes and your wages haven't gone up. I was just trying to get you to spend a bit more but it seems you still have a 'deflationary mindset', I'm sorry, I meant to say you don't like being in debt as much as we do in government.
Anyway, not to worry, I'd like to change my mind about taxing you any further. This was all the idea of the previous lot anyway, so I think we should be unanimous in condemning them roundly!
I'm going to be frank with you now, please sit down…money printing isn't working...but I don't know what else to do...and unfortunately we're too far in to back out now...so I'm going to go 'all in' as they say in hollywood gambling movies, and monetize all government debt…there I said it…phew! Meanwhile I'm going to force your pension schemes to buy stocks, which I'm sure will go up because the 0.01 percent are bound to take full advantage of a sure thing. That's good isn't it?
This is a desperate measure that will likely trash the currency and lead to a massive default, but it's all I've got left. I need you to elect me again to do this so I can share the blame with you afterwards, sorry I meant get your full backing.
Please give me one more roll of the dice, and remember that I've been advised to do this by a Nobel prize winner in astrology, sorry economics.
Yours in full expectation of a renewed majority
Your Grateful Leader
P.S. Please pray that 'trickle down' and 'the wealth effect' turn out to exist.