Sunday, October 24, 2010

Idiot Japanese Politicians and Video as to What to do About Them

Hate to sound like a broken record, but here is more information that the government and Bank of Japan are going to repeat past mistakes and throw public money down the toilet again by buying bonds.

I've written before about this idiocy.

As Albert Einstein said, "The definition of insanity is to repeat an action yet expect a different result every time."

Breitbart reports:

The Bank of Japan is considering additional government bond purchases by the end of this year as part of a "comprehensive monetary easing policy" it adopted in early October, sources familiar with the matter said Friday.

The possible launch of additional bond purchases will be taken up at the central bank's policy board meeting next Thursday, the sources said.

On May 5, the BOJ Policy Board decided to buy 3.5 trillion yen in long-term government bonds and short-term government securities over a one-year period in order to prop up economic activity by steering one- to two-year interest rates lower.

The purchase plan will be implemented aside from the BOJ's annual purchase of 21.6 trillion yen worth of government bonds.

The plan is part of a fund the BOJ decided to establish in the amount of 5 trillion yen to buy assets which also include commercial paper, exchange-trade funds and real investment trusts.

The BOJ, which will buy ETFs and REITs for the first time, is studying purchases through trust banks, the sources said. Subject to government approval, the purchase of them is likely to begin after the additional acquisition of government bonds.

Here is a video that I've found that shows what my choice is as to what to do about these idiot politicians who keep repeating the same mistakes over and over. Watch the video and see if you agree.

Come to think of it. I reckon this is an excellent solution to any big government tax and spend politician.

1 comment:

Ira Hata said...

As my father said to me many times, "the only cure for stupidity is death"...