Well what it does do is put pensions at further risk. Trying to...

Well what it does do is put pensions at further risk.
Trying to make up for unfunded liabilities by creating money only to pump into the share market.
Investing in the share market per say is not necessarily a bad thing, but investing in the share market no matter what the valuation is a real problem & is asking for bubbles to be created & popped & then what has that created money then bought? Unfortunately Japan is not the only government doing it.
Hopefully NZ & Australia style future funds are a little more discretionary with their investment mandate.