CycleKyoto HP LInk

Saturday, January 12, 2013

Japan Approves $116 Billion for Economic Stimulus

緊急経済対策を閣議決定 安倍首相

Japan's new Prime Minister Shinzo Abe unveiled a package of ¥10.3 trillion (£71.7 billion or $116 billion) for a spending spree will fix Japan's ailing economy.

Abe and his supporters claim that the program will create 600,000 jobs and add two per cent to Japan's real economic growth.

Japan already has the world's highest debt as a percentage of GDP by country. Japan is currently at 238.66%. (In comparison, Ireland is 104%, Spain 78.58%, the USA 105.39%.)

With no immigration, an aging population that pays just 10% of hospital visits, and an export dependent industry whose fortunes depend on the rate of the yen, borrowing money a la 1990s to pay for road and bridge and tunnel repairs seems unwise at best.

But if it is time to slop the pigs, we hope Kyoto's elected representatives will line up at the troth to get goodies from Tokyo.

Our wish list would include:

1) Bike Lanes in Kyoto
2) Bringing Back Street Cars in Kyoto

If the ship of Japan is going down, let's at least have a few good years of cycling.

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