Japan Does the Full Ponzi

"I saw this headline over at Calculated Risk regarding the new “monetary policy” in Japan:

And from the Japan Times: Japan’s economic minister wants Nikkei to surge 17% to 13,000 by March

Economic and fiscal policy minister Akira Amari said Saturday the government will step up economic recovery efforts so that the benchmark Nikkei index jumps an additional 17 percent to 13,000 points by the end of March.
“It will be important to show our mettle and see the Nikkei reach the 13,000 mark by the end of the fiscal year (March 31),” Amari said in a speech.
The Nikkei 225 stock average, which last week climbed to its highest level since September 2008, finished at 11,153.16 on Friday.
“We want to continue taking (new) steps to help stock prices rise” further, Amari stressed …

I think this is remarkably silly policy. It’s the worst abuse of central bank powers and based largely on a misunderstanding of secondary market dynamics. I wish wealth creation was as easy manipulating stock prices. Then every country in the world could just have their central bank target a market price and presto-changeo – we’re all rich! Nevermind if the underlying corporations don’t actually justify the valuation! After all, the central bank says the cash flows justify THIS price. They said so!..."

at http://pragcap.com/japan-does-the-full-ponzi