Global markets have demonstrated that the choices made by the Abe administration and the Japanese people were correct.
This essay condemns ideologically distorted media such as Asahi Shimbun and the financial elites who echoed their misguided economic narratives.

2016-07-12
The correctness of the Abe administration and the choices made by the Japanese people, and the extent to which newspapers and television networks such as Asahi, Mainichi, and Tokyo are filled with holders of distorted ideology.
At this very moment, global markets are proving that fact more eloquently than anything else.
The Japanese people must never forget that Makoto Hara, the man who appeared on “Hodo Station” and dismissed Prime Minister Abe—who brilliantly led the G7 as chair on the very day of the summit—as making “nonsensical remarks,” is the chief editorial writer of the economics desk at Asahi Shimbun.
Needless to say, it is he who is nonsensical, and it is Asahi Shimbun itself, which has appointed him as chief economic editorialist, that is nonsensical; they have demonstrated this to the entire nation.
And over yesterday and today, global markets have proven precisely that point.
To the executives of Mitsubishi UFJ Bank.
The correct answer once given by Kiichi Miyazawa—“This is not an ordinary business cycle. We must inject public funds and resolve it decisively”—was drowned out by the rallying cry of Atsushi Yamada, then an economics reporter at Asahi Shimbun, who waved around a kindergarten-level sense of justice, asking, “Why should taxpayers’ money be used for things banks, construction companies, and real estate firms did on their own?”
Astonishingly, the financial world itself went along with this, creating the folly of the Lost Twenty Years without even a shred of reflection.
And now once again, riding on Asahi’s coattails, the Tokyo-based executives of Mitsubishi UFJ, who lodged petty complaints against the Bank of Japan’s entirely reasonable policies, must reflect on their own foolishness and the depth of their guilt, and must never again engage in such presumptuous behavior—reading a foolish newspaper like Asahi with foolish minds while acting as if they were entitled to pontificate on Japan’s economy.
Instead of wasting time on such behavior, they must immediately correct the reality that, as executives of what should be Japan’s representative financial institution, they have allowed their company’s stock price to continue falling as if it were a bankrupt firm.
They must recognize now that their duty is to act immediately to maintain their share price, raise it, and restore value after years of decline.
If they do so, they should also realize that it would never be possible for the Tokyo bureau chief of The New York Times to casually make statements corrupting the democracy of Japan—a nation in which the “Turntable of Civilization” is turning.
When Japan’s representative financial institutions speak as if they were errand boys for the foolish Asahi Shimbun, a newspaper that discusses economics through distorted ideology, it is only natural that such a foolish man would be allowed to utter foolish remarks.
That Martin Fackler is such a foolish man is proven by the fact that he has said nothing whatsoever about China or South Korea.
To be continued.