Stuck in Keynesianism and no way out anyway, Prime Minister Abe calls hyperinflation worries "unfounded".
(So, hyperinflation joins radioactive materials as "baseless rumor".)
From Dow Jones Business News, quoted at NASDAQ (2/5/2013; kind of fitting):
Japan PM Says Hyperinflation Worries 'Unfounded'
TOKYO--Japanese Prime Minister Shinzo Abe said Tuesday in parliament that worries of the central bank's inflation target triggering hyperinflation are unfortunate and unfounded.
"It's unfortunate that there are people who tout the mostly unfounded fears of hyperinflation," Mr. Abe said in a lower house plenary session.
"By building a sustainable fiscal framework we will dispel such worries," he said.
Mr. Abe also denied allegations by an opposition lawmaker that last month's accord between the government and Bank of Japan on the 2% inflation target threatened the central bank's independence, adding that the government will leave the methods of achieving the target up to the central bank.
The prime minister also fended off criticism about his government spending its way out of stagnation, saying that his economic policies will eventually pave the way for sustainable private sector growth in the mid- to long-term.
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Abe's time horizon must be really, really long and far out into the future. 20-plus years of mostly LDP administrations after another trying to spend its way out of stagnation haven't resulted in sustainable private sector growth.
Growth or no growth, Abe can do what the US government has been doing so that there is no inflation that is not 2%. All he has to do is to cheery-pick the data - eliminate prices of goods that are rising too fast, and prices of goods that are sinking. And use Ben Bernanke's and Obama administration's line that the rising stock market makes people feel happy and prosperous so that they spend money that they don't have.