Below is an urgent proposal. I especially want politicians to read it. The plunge in stock values is not stopping. There is no way out.
Last Thursday night (Nov. 20), I visited an economist, former politician and executive of my generation at his research center and heard him express the opinion that if stock prices are left to decline much further, it will create an extremely dangerous situation for the Japanese economy.
So what can we do? The only option left is for the government to start purchasing stock. To do this, we need to set up as quickly as possible an institution that can handle this task. That's what my acquaintance argued.
Politicians from all parties need to get together and promptly discuss this crisis to stabilize our economy. We can't continue to be contentious.
My request to politicians from both camps: Quickly get together and establish an organ that can begin purchasing stock!
The author of Curing Japan's America Addiction (Chin Music Press) offers insight and commentary from Tokyo.
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