The answer to Japan’s debt crisis: AKB48?
Horrible economic policies in Japan have left the country stagnated for over twenty years and the increases in debt have been staggering.
Now that the policies of John Maynard Keynes have left the former Asian powerhouse cash-strapped, the Japanese Finance Ministry has called out their secret weapon– AKB48.
According to a Wall Street Journal report Friday, undisclosed sources say that the finance ministry will make the announcement Tuesday, May 29, that the pop princesses will attempt to sell Japanese paper.
According to the report, the government plans to issue ¥2.682 trillion ($33.7 billion) worth of the bonds in this fiscal year alone for reconstruction projects like in the tsunami hit Fukushima area, however, there is a problem, there is little interest in Japan’s low-yield bonds.
Enter AKB48. The girls will headline a summer campaign for “reconstruction bonds”. The gimmick by the incredibly indebted Japanese government is designed to push the government bonds.
According to an AFP report, Japan has the industrialized world’s worst public debt, amounting to more than twice its gross domestic product — topping hard-hit eurozone countries including Greece, which have drawn fire from foreign investors over their fiscal management.
What is AKB48?
It is the brainchild of lyricist Yasushi Akimoto. The band currently consist of approximately 90 cute female singers and dancers donned in short skirts who perform the most bubblegum of pop music that can be described in one word—successful.
AKB48 is one of Japan’s highest-grossing musical acts, with more than $200 million in global digital sales in 2011.
I wonder if Ben Bernanke is watching?