Japan has broken free from the long chain of unsatisfying ideas on how to stop global and national economies from sucking so bad by enlisting the help of pop group and wireless router serial number AKB48 to sell government bonds. The country, which is heavily indebted, could use some help — Japan's Prime Minister Yoshihiko Noda has promised about $250 billion in tsunami reconstruction funds, money that the country will have to borrow. Earlier this week, Fitch cut Japan's credit to A+ from AA, and warned that further downgrades could follow if Japan didn't hurry up and come up with a gimmick to push some government bonds.
Enter AKB48, an pop group comprised of more than 100 female singers and dancers that has totalled over $200 million in sales since 2011. The group performs what the Post calls "sugary pop songs" and synchronized dancing, and is apparently a big hit with the young folks in Japan. If the gambit works and Japan can successfully unload some of its bonds, maybe the U.K., which is also pretty far in the red, will force the Spice Girls out of retirement, desperate times and whatnot.
Japan's bond girls [NY Post]