Former Finance Minister and economist, Professor Yoichi Takahashi of Kaetsu University, appeared on ABC's "Tell Me! News Live: Hero of Justice" on the 4th. He explained the Japanese economy, which continues to experience its weakest yen in 34 years.

Takahashi said, "Weak yen is good. If the yen is 300 yen to the dollar, the growth rate will be 20%." The Japanese government holds a large amount of dollars, and as "the government is the one that benefits the most from the weak yen," Takahashi said that the government has made about 40 trillion yen in profits so far, which he named "buried treasure from the weak yen." He said, "The government should return the profits to the people."

While the ratio of foreign exchange reserves to GDP in most G7 countries is below 5%, Japan stands out at over 25%.

Takahashi said it was "common sense around the world" that if a country's currency weakens, its GDP will rise. Former U.S. President Donald Trump, whose support base includes the steel industry, was outraged by the strong dollar and weak yen situation, calling it a "catastrophe for the United States."

In response, President Biden has approved of the strong dollar. Takahashi said of Biden, "He's just an idiot who doesn't realize it. Trump said it clearly: Biden has no policy. He's right."

He then showed another piece of data, "Changes in the Japan-U.S. exchange rate and monetary base ratio," predicting that "the yen will eventually settle at 110 to 120 yen per dollar." Furthermore, he said that if Trump is re-elected in the November presidential election, the yen will appreciate, and predicted that the yen's depreciation would not continue forever.