Open trading account 
by William Pesek available on The Japan Times
As Kuroda struggles to drive the economy toward inflation, he’s running into a roadblock
35 million people deep. Japan’s 65-plus generation isn’t buying homes, cars, Sony
PlayStations or lavishing fixed incomes on fashion, pricey meals and travel.
(...)
The question is how Japan pays its growing debt with fewer people after that? (...) Japan’s
hopes of creating a productivity generation will require a policy revolution Abe has so far
avoided. A society aging as fast as Japan’s is inherently deflationary, no matter how much
yen Kuroda prints. The answer, of course, is Abe accelerating structural reforms to fuel a
startup boom, deregulate industry, inspire greater innovation and empower women. Any of
these steps over time would do more than the BOJ’s liquidity injections.
35 million people deep. Japan’s 65-plus generation isn’t buying homes, cars, Sony
PlayStations or lavishing fixed incomes on fashion, pricey meals and travel.
(...)
The question is how Japan pays its growing debt with fewer people after that? (...) Japan’s
hopes of creating a productivity generation will require a policy revolution Abe has so far
avoided. A society aging as fast as Japan’s is inherently deflationary, no matter how much
yen Kuroda prints. The answer, of course, is Abe accelerating structural reforms to fuel a
startup boom, deregulate industry, inspire greater innovation and empower women. Any of
these steps over time would do more than the BOJ’s liquidity injections.