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Asian shares mostly higher after Trump stops stimulus talks

16 Comments
By ELAINE KURTENBACH

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16 Comments
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Why more stimulus?

Japan residents only got around a thousand US dollars each in a one time deal.

Trump needs to put the brakes on...

-2 ( +1 / -3 )

Except he just did a 180 and is up for the talks again when he saw he is 17 points behind Biden and how angry people were at him calling them off until "after the election". Doh!

kurisupisu: "Trump needs to put the brakes on..."

"... being such an outright tool".

Finished it for you.

1 ( +2 / -1 )

Indeed, why more stimulus...

I wanna help out the needy, but I don't wanna add more debt to the mountain so that we can give handouts to the rich, too.

All the needless debt is going to cost us later! The pandemic is going to be a drag on the economy anyway! We can't just spend money we don't have to plaster over the effects of the pandemic!!

1 ( +2 / -1 )

@kurisupisu

Why more stimulus?

Japan residents only got around a thousand US dollars each in a one time deal.

Trump needs to put the brakes on...

You can't compare Japan and America in these two cases. Several factors.

First, Japanese firms didn't do a mass lay off of over 20 million people. Second, Japan and the Japanese government limited international travel prior to the virus explosion where as Trump, hid critical information and pushed to keep the borders open at the time. Third, the Japanese government isn't seeking multiple bailouts for businesses and ignoring the people. They did one and done for all. The US wants to provide multiple business bail outs and ignore the people. Fourth, is access to Healthcare. Japan's access to health care and people's willingness to go see a doctor for the slightest issue is different from the average American where they have Healthcare or rent. Healthcare or food. Fifth, Japan actually produces things so they are able to keep more jobs open. America doesn't really produce anything. Its a services country.

Now look at European nations. The government footed the bill to take care of residents. They are better off than America. Even Italy.

0 ( +2 / -2 )

The talks are back on.

1 ( +1 / -0 )

@JJ Jetplane

America is the 2nd largest manufacturer in the world, producing only a little less than China. It manufactures nearly twice what Japan does (less by capita, but still...).

Also, the American government's policies on international travel restrictions is very comparable to other countries, and was in some ways earlier and more aggressive. . I'm no fan of Trump but I don't know how you can say that a January 31 ban on China closely followed by Europe. How that constitutes a "push" to keep things open is revisionist history.

There have also been plenty of business "bailouts" in Japan.

You are just making things up.

0 ( +0 / -0 )

@btb

America is the 2nd largest manufacturer in the world, producing only a little less than China. It manufactures nearly twice what Japan does (less by capita, but still...).

Here is a great article for you to read to find out how America manipulates its numbers to help mask its manufacturing inefficiencies and how large its trade deficit really is.

https://www.epi.org/publication/what-is-manufacturing-and-where-does-it-happen/

0 ( +0 / -0 )

Good to see the financial markets on an upswing because well-deserved assistance to working Americans who have endured months of hardship in the crisis as rentier capitalists prospered will have to suffer longer.

0 ( +0 / -0 )

America doesn't really produce anything. Its a services country.

I’m here on my iPhone designed (at least) in the US, and services are good too! I don’t like having all that much physical junk gathering dust about the place.

A trade deficit is no huge problem, although Trump thinks it is. I think it’s m better to be rich, buying stuff off other people, than being poor and on the balance selling stuff to the rich people.

0 ( +0 / -0 )

@JJ Jetplane

Stop the presses: Jetplane just uncovered the key to how America fudges the numbers up to 1,900 BILLION dollars of manufactured goods when really it produces VERY LITTLE! Paging QAnon.

Get back to English teaching. America produces 18% of the world's goods. China, 20. Japan, 10. You are WRONG.

The link you sent is just quibbling over trade DEFICIT, which has nothing to do with how much a country produces, except in comparison to how much it CONSUMES.

Too many (probably unqualified) English teachers masquerading on this site's comment section as economists and immunologists.

Japan has done a great job with the virus. America is a huge player in the world economy. Two things can be true at once.

-1 ( +0 / -1 )

Let's be honest. Most are filing unemployment papers intentionally trying to get those bailout cash to live it out. While the government are depserately hoping the work force start to get back on it's feet and work again, people actually want to ride the virus out in their home. Doing another bailout will instead increase the danger of more unemployment if you ask me. US is a country which heavily depend on too many immigrants and refugees work force seeking a better life and money to send home. Cheap labors is what sustain it. Doing a another bailout is actually posing a dangerous risk to a lot of people. Because business owners would then think is alright to close their shops, fired the employees and ride out the pandemic. Then they would easily hired by some cheap laborers later in a few months. Many scams and corruption would also happen. Money will disappear through all the cracks like water leaking out of a container.

-1 ( +0 / -1 )

COVID Stimulus = Easy money to do nothing = unmotivated workforce = collapse in Free market Economies.

0 ( +2 / -2 )

To coin a 1980's era British phrase - "On your bike! "...

Personally, I'm naturally lazy, if someone is going to pay me to be so, then I'm super happy. Though "doing/being" so for a long period, is going to make me think, that I don't need to do anything ever again... early retirement, and all that.... (and I'll become Fat and Lazy :( ... a continual fight I have to struggle against )

Sadly, this is where "Stimulus" payments to People in need, are a double-edged sword. On the lower scale of Society, those who REALLY need it, are probably out-numbered by those who'd be happy to Milk the system. However, the Politicians calling the shots aren't exactly exemplary of honourable persons either - the Rich too Milk the system, in order to reduce their Taxation exposures in order to become even Richer - or give the illusion of being so.

Now this COVID crisis, poses an issue of "fear" - since if for those of the population who are paid by the days they work, contract the disease, then they will be forcefully prevented from obtaining an income, regardless how well they feel or not - since as there is no "current" immunity to the Virus, any contact with those infected persons is likely to spread like Californian wildfires during a dry Summer. Clearly, paying such an infected person to self-isolate would seem sensible, however here's where those who wish to Milk the system come into play, getting purposely infected time and time again, would effectively mean that you would not need to work, and you would be guaranteed an income.... easy money. Obviously, this may not be something the Elder workers would be contemplating as they may actually die upon the first cycle of their try it and see gamble.

But I hope you see my point.

I'd like to say I could do a better job that any Government, though in reality, its up to Society as a whole to fix this issue - weed out the COVID "Grafters", stick to common-sense self-care. Try to avoid relying upon Government Handouts (as those will dry up at some point anyway), and focus upon building social networks of responsibility managed by yourselves.

0 ( +1 / -1 )

@Hiro

Most are filing unemployment papers intentionally trying to get those bailout cash to live it out.

So you are saying over 50% of the 30 million people on unemployment are there because they don't need it?

2 ( +2 / -0 )

@JJ Jetplane, so you actually truly believe the US actually had 30 million people really unemployed and had been sitting their asses for more than a half year with no work? Any student who just come out of college or high school can tell you he is unemployed. Or some part timers or immigrants. There use to be countless immigrant workers working as cheap labor and then return home through the border before the pandemic happen too. I never said they don't need it, Everyone need cash these days, but a bailout is never the answer. A bailout will only worsen the country condition.

The democrats believe that handing cash to the poor is the solution but the replucians instead prefer they work for it. What Trump need to do is use the money to create jobs and work for everyone. Produce. Maybe reduce taxes and fees for certain services. But never handouts. Most will probably be putting it in the bank and claim how smart they are.

0 ( +1 / -1 )

@Hiro

 A bailout will only worsen the country condition.

The democrats believe that handing cash to the poor is the solution but the replucians instead prefer they work for it. 

If that is the case, why are the Republicans overwhelmingly in favor of bailing out businesses? Bailouts are not the answer right? But even the Republican President wants his subsidiaries bailed out.

0 ( +1 / -1 )

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