Abenomics or...

Good morning everyone,

Yesterday was great weather, wasn't it? I went for a run in the morning and it was pretty cold at that point...(I went out around 6:30)...However, by the time I was riding to Costco, it was almost hot. I worn jeans, a t-shirt and a plaid shirt with the sleeves rolled up and was actually sweating by the time I got there. Today, tomorrow and Friday are all looking nice. Clouds will roll in Saturday and then we may see rain on Sunday and Monday. The weekend is still a bit far away to predict, hopefully it'll be nice on Monday...I don't want to run in the rain...

The other day I heard this from a student and wanted to pass it on, it's a funny story. I had forgotten about it till I saw today's paper highlighting Japan's poor gender gap. According to the World Economic Forum, Japan remains far behind other developed countries in closing the gender gap (the lack of equality between men and women). Out of the 142 countries included, Japan ranks 104th-below Indonesia and Tajikistan! 

Anyway, that wouldn't really be news except for the fact that PM Abe's 'third arrow' of economic improvement is women in the workforce. Japan ranked dead last (dead last isn't worse than last, it's just an expression to make being last sound even worse) in the number of women that were on the board of directors of publicly listed companies.

So, the student was telling me about 'Abenomics', which is the nickname that was given to his plan to revitalize the economy (borrowed from Reaganomics that was used by Americans during the high-spending days of President Reagan's administration), but it isn't working so well so one person suggested it be called 'Ahonomics'. Everyone cracked up when she told that story! Partially because it's true and partially because it has such a nice ring to it! Ha ha!

And I'm sorry, but anybody with a high school understanding of economics could have predicted it would fail. I won't go into the boring details, but 'Ahonomics' is going to hurt Japan more than it helps. And you can bet that we'll be seeing a 10% sales tax next year too. And I admit that Japan needs to deal with its debt-Japan has a much higher level of debt than Greece or Italy, both of which needed bail outs in recent years. But this isn't the way to go about it...

What do you think? Can the sales tax turn Ahonomics into Abenomics? Can women save the plan? Or is it doomed to failure?

Have a great day!

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