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Japan's government is in the final stages of assembling a stimulus package worth 21.3 trillion yen ($135.38 billion) to help households cope with persistent inflation, a draft seen by Reuters showed, in what would be the largest stimulus since the COVID pandemic.
The package will include general account outlays of 17.7 trillion yen, far exceeding the previous year's 13.9 trillion yen. It will also include 2.7 trillion yen in tax cuts.
It will be funded by an expected rise in overall tax revenue, as well as an additional issuance of government bonds, though the size of the issue has still to be finalised.
Wait...govts can spend money they don't have to juice the economy so they get higher tax receipts which will cover the initial cost of the spending?!?!
It reminds me so much of all the cooky perpetual motion machines people thought they had invented.
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Right, accept this one affects an entire country.
I want to yell that the emperor's naked, but I get the sense that society in general right now might respond: so?
The US debt has gone from $8T to $38T in the last 20 years and apparently it doesn't matter. Prices go up, taxes go up, but it's not like anything really broke...other than a recession or two. It's there were consequences for the people who decided to spend the money.
It can't go on forever, but how long can it go on?
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36 sats \ 0 replies \ @brent 5h
Let the liquidity cycle begin! 💦
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Can you spot where Bitcoin topped and then started collapsing?
Japan won't be the last
This is what I was afraid of earlier this year, unfortunately ate a lot of Theta on UUP calls waiting for it.
We've lived our entire lives in an era where the regime in the only real economy left sold the country out to keep the globalist system in order. Now that regime has changed to nationalists on the promise they are going to sacrifice the globalist system to preserve their own, the only economy with a fighting chance anyway.
Good for Bitcoin long term as a check on off-shore dollars, but until then the dollar milkshake effects Bitcoin like any other foreign currency.
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Also, China seems to be following suit:
Now, if only Trump would actually deliver on his stimmy, we could all be friends.
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