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FM Kan is Japan's Geithner. Postal Reform minister Kamei runs the Postal Bank. They want to double the deposit limits of the Post Bank so they has access to more of those sweet, sweet Japanese savings that everybody keeps talking about to swap for JGBs to finance an historic budget. The last thing they want is more regulations on their activities. Besides, Goldman assured the Japanese that they didn't sell any of that fraudu....er...toxi...eh... AH!...disputed assets in Japan so no need to worry there.
Kan's latest proposal is to lower the corporate tax rate and pay for that by doubling the consumption tax because, according to the IMF, Japan needs to spur consumption. Still can't figure out how that works but I'm sure Kan can. And besides, he talks to Geithner ALLLLLL the time.
The real news of the day..
Unadjusted Year Over Year: Producer Price Index Up 6.1%
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