Recently owing to the lack of leadership of the DPJ government*2, there are a lot of bad political and economical news.
For instance, Futenma issue*3, Senkaku islands issue*4, high pressure
of yen*5, and so on...
Especially I have strong worry about high pressure of yen.
So today I want to talk about high pressure of yen.
As you know, from the macro viewpoint, Japan is exporting country. So too strong yen hurts many industries profits.
Now most of company setting their currency exchange rate to \90 against US doller. And last night currency exchange rate is \83.71 against US doller. There is needless to say, Yen is too strong, now.
The other day, Kan DPJ reshuffled Cabinet*6 and the Bank of
Japan did a exchange intervention*7. And then, Yen rate against US doller, down \82 to \85. This decision is good, but their decision making speed is too lazy, I think.
And now, to cope with the strong yen, manetary easing is also hoping to the Bank of Japan from many companies. To show they have an ability to make a decision, I want Kan DPJ reshuffled Cabinet and Bank of Japan to smoothly decide to conduct manetary easing.
At the begining of Kan DPJ reshuffled Cabinet, Naoto Kan nicknamed his Cabinet the "Walk the Talk Cabinet*8", but before walk the talk , decision making is needed. And when making decision, SPEED is the most important, I think.
I want the Japanese goverment to have a Strong leadership and an ability to make a decision.