If only we were all Japanese!

For the first time in its history, Japan’s Nikkei 225 stock index has smashed through the 50,000-point barrier.

In just six months—since April of this year—it has soared by 65%! Some $33 billion has flowed into the Japanese stock market from abroad.

After decades of stagnation, the Japanese economy is now roaring.

Following directly in the footsteps of her visionary predecessor Shinzo Abe (about whom I have written extensively), Prime Minister Sanae Takaichi has launched a 13.9 trillion yen (over $90 billion) plan of infrastructure projects and fiscal expansion.

The foundations of Abenomics lie in generous government spending within the framework of a highly accommodative monetary policy.

The Bank of Japan now maintains a positive benchmark interest rate of 0.5%, yet it continues to allow the financing of public spending at extraordinarily favorable terms.

At the same time, the fact that rates are no longer negative is undeniably a positive signal—encouraging both entrepreneurs who are gaining momentum and stock market investors motivated by a cost of capital that remains more than reasonable.

And here’s the final piece of good news: Japanese wages are rising again—a significant development, since they had been falling in real terms for at least 20 years.

Desperately wishing for leaders in Europe with the vision and boldness of Abe and Takaichi!