Dark side of fiscal soundness advocacy


Mitsuo Shiota


June 5, 2021

I felt relieved when I read the guest essay “Is the government bond a burden of future generations?” by Kazuo Momma, an ex-central banker, in the corner named “Economist 360 degree view point” of Nikkei newspaper on June 4, 2021 (Japanese, subscription required), as it points out correctly that the government bond is both an asset and a liability. I would like to show my thumbs up to Nikkei for this article.

I felt depressed when I found a book by Prof. Kazumasa Oguro, to whom I referred as a fiscal soundness advocate in the previous post. The book includes an interview with Prof. Kazumasa Oguro, who is credited as a co-author. The book was actually written and published by a scammer, who targets the wealthy, infuses them with aftermath images of a fiscal collapse, and invites them to his investment club with hefty fees. I will not name him here, but you can search if you can read Japanese. Prof. Kazumasa Oguro, be aware that your crying wolf is a good advertisement for a scammer.