The Nikkei Stock Average is rising, continually hitting new record highs. Meanwhile, the yen continues to weaken, hovering around 155 yen to the dollar.

The prolonged period of the yen’s super-strong nature, which led to cries of a “strong yen recession,” seems like a lie.
… As is well known, a weak yen increases profits for exporting companies, but it also raises import prices and leads to higher prices.
While it may not seem like there’s a strong philosophical connection between stocks and foreign exchange, the weak yen appears to be supporting rising stock prices. While investors may appreciate this, it’s no laughing matter for many citizens.
Prime Minister Takaichi’s remarks, seemingly praising the weak yen by saying the Foreign Exchange Special Account is “glubbing its head.” This has caused a stir. While the remarks were unexpected for government officials, perhaps they unintentionally revealed Takaichi’s true intentions: prioritizing the strengthening of the nation over the lives of its citizens.
It’s certainly true that if a nation is devastated, the lives of its citizens will also be devastated, so building a strong nation is important. However, is it really appropriate to blatantly sacrifice the people to strengthen the nation? This can no longer be called democracy.
The exchange rate is a barometer of national power, and a weak yen signifies a decline in national power. If we’re striving for a strong nation, this is no time for glee. (Kei Kitajima)

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