ACC / the "experts" - under the "leadership" of Haruhiko Kuroda - at the BoJ massively bought japanese stocks in order to increase total demand, to stop price deflation (by allegedly increasing inflation) and to sucker japanese savers into buying stock (or as they peddled it: to take on more risk)
One should think that haruhiko would have an appreciation for and understanding of the japanese plebs' character and mindset. But it has turned out that the only pigeons participating in the government's scheme is the gov't pension fund, blackrock and BoJ.
Now I could list a dozen reasons why the gov't scheme has failed. But that would be giving haruhiko advice at no charge.
Now the peddler of "three arrows" and numbnuts abe is screaming yet again for a hike in salarymens' wages allegedly to help them buy more - ahead of his tax hike.
The beautiful part about this gov't hallucination is its cause: fiat "money", unbridled printing paraded about as Quantitative and Qualitative Monetary Easing by haruhiko. The more beautiful thing is that the average japanese joe is not buying into his b/s.
At least haruhiko and buddies now post w/s crap-out in nikkei dump have a better - ie lower priced - BTFD.
And never mind eroding market discipline.
Sydney ACC 07:02:49 GMT - 12/26/2018
No comments so far of how losses being sustained by Bank of Japan on the decline in the Nikkei.
BoJ has been buying JPY 6 trillion in ETF since 2016. That makes BoJ effectively a top 10 shareholder in 40% of Japanese listed companies.
Until the beginning of October things were looking good. Since then, however, the index has declined from 24,200 to 19,500.
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