Japan's Prime Minister Fumio Kishida has announced he will not seek re-election as the leader of the ruling Liberal Democratic Party (LDP), which means he will also step down as prime minister. His decision follows massive market turbulence triggered by a minimal interest rate hike from the Bank of Japan, highlighting that even this approach is insufficient to stabilize the yen. The incoming LDP leader will face the daunting task of addressing Japan's spiraling debt and a currency in decline.
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Any big reason or he just want to retirement?
It's unclear so far
sooner or later it will be revealed
I am pretty sure he is not resigning as Prime Minister but he just won't try to get reelected (I guess it is too late to change the title though).
He'll be out in September
Ah I see. Already 4 years, time past fast.
Is it a cultural thing? A humiliation that it happened under his watch? They would have to drag a US politician out kicking and screaming.
If no political scandal has occurred in the background, this may well have a cultural background to materialize one's own failure in this way.
It’s not just the economy, there is also an ongoing investigation into corruption.
I thought central bank policy had nothing to do with politics? /s
Next step, we will be reading his obituary....
Japan is both militarily and monetarily a subservient tribute state to the US.
The carry trade inflates the value of the USD while devaluing the value of the Yen.
Satoshi Nakamoto provided Japanese citizens with an alternative store of value but Japanese banks and the Japanese government have serially obstructed Japanese peoples access to Bitcoin in order to preserve the power and value of their fiat debasement tributes to the US.
Japanese politicians have well understood that with the once widespread introduction of Bitcoin, their power as money printers would disappear. that is why this kind of blocking
Thought Japan knew what it was doing
Really??
If it's like this, who is to blame? This political influence is extraordinary, is he deliberately not running for office or is there another element?
Im surprised that the prime minister isnt running again.
But he did kind of get dealt a bad hand.
Is this some classic Japanese behavior? Fuck things up and resign. Looks like a pattern to me…
Is it better to fuck things up and double down on continuity?
No no. That’s not what I meant. You don’t have to resign if some idea didn’t work. Just correct course and try another solution. It’s not like the Japanese have too many options to save their economy…