*Note: This story is old. In fact, it’s from 2012, but I had already hit publish by the time I recognized this oversight. So while this is NOT a new story, it is true, and the sentiments I share remain valid.
Japan is the prime example of what happens to a nation when lunatics are permitted to centrally plan an economy for several decades. As many of you will remember, the following advertisement was a real pitch used by the finance ministry several years ago to sell JGBs, i.e., Japanese government bonds.
Fast forward a few years, and we have this…
From the Telegraph:
Japan’s cash-strapped government is reportedly turning to popular music group AKB48 to help it sell government bonds, as interest in the low-yield paper wanes.
The debt campaign will see AKB48 – comprising about 90 performers, ranging in age from early teens to mid-20s – joined by sumo wrestling’s champion Hakuho and female football star Homare Sawa, Japan’s Jiji press agency reported.
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