THIS could be INFLATIONARY
Japan's parliament has passed legislation to give a cash hand-out to every resident in attempt to boost the recession-hit economy.
Most people will get at least 12,000 yen ($121; £86) under the $20bn plan.
But there are fears many Japanese, who have a strong tradition of saving, will hang on to the cash and not spend it.
The cash hand-out forms the centrepiece of a stimulus package to revive Japan's economy, which is in a far sharper recession than the US or Europe.
Japan's GDP dropped 3.3% in the final quarter of 2008, a much steeper decline than in the US, which saw a 1.6% drop, and the UK, which contracted by 1.5%.
If we start down a similar path here, I may have to revise my position on DEFLATION. A key characteristic of Alstrynomics is ability to change course....but only when the facts dictate.
At this point the amount seems more sybolic than material....