June 12, 2009 12:12 a.m.
Kaoru Osanu, the Japanese minister of finance in an interview with Bloomberg news expressed his country's confidence in both U.S. treasury debt and the on going strength of the American dollar.Since the Japanese have bought close to 680 billion dollars of U.S. debt, this is a good and useful endorsement that ought to counteract some of the negative comments coming from other countries like China and Russia and also from the perennially fiscally conservative( except when it comes to being bailed out of trouble) bond market dealers. A lot of nonsense is circulating these days about "inevitable inflation" because of the appropriate debt and stimulus program so its good to hear that the Japanese have taken a sensible and helpful view on the issue. They are correct. The doubters are wrong.
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