The Bank of Japan is worried about a stock market crash

REUTERS/Toru Hanai No central bank of a developed country equals the Bank of Japan in trying to manipulate the stock market up by buying equities. The BOJ has done this for years. With breath-taking ineffectiveness. So on July 28, the BOJ announced another stock market pump-up scheme: it would nearly double its annual purchases of equity ETFs from about ¥3.3 trillion to ¥6 trillion ($60 billion). Hedge funds and other speculators expected for the BOJ to instantly throw its weight around in th...