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IMF urges 'reloaded' Abenomics for Japan growth targets

24 Comments

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...and just like The Matrix reloaded, the result will be worse.

4 ( +5 / -1 )

"..... promised reforms have been slow ...."

Just slow? They didn't work, never came to light, were absolutely nothing but promises!

In addition I am sure that Mr. Abe and his buddies are not going to listen to the IMF (maybe they won't even read that report)!

8 ( +8 / -0 )

Yay! Since I lost count, I'm glad to hear that we could be going back to starting with 3 arrows again.

4 ( +6 / -2 )

But promised reforms have been slow in coming

And they never will because that would mean "reforming" the LDP's key support groups.

9 ( +9 / -0 )

No! Please! Not more printing. Printing wealth is 666, and just has to have a downside.

1 ( +3 / -2 )

Japan also needs to gradually raise the country’s consumption tax “towards at least 15 percent” gradually “over regular intervals” to achieve fiscal sustainability and growth, the report said.

Squeeze the Japanese till they squeak eh...... ?

7 ( +7 / -0 )

Exactly how do you make companies raise wages? By asking nicely?

10 ( +10 / -0 )

The definition of insanity is continuously repeating the same solution knowing it will fail. If Abe raises taxes it will kick the economy in the head and make things worst. A new idea is required. Abe and his right wing friends have failed. Time for some new ideas.

7 ( +8 / -1 )

Dishonest Abe hasn't the courage to pursue reforms; he shirks taking action every time. Abenomics doesn't need "reloading", it needs to be taken outside and shot.

9 ( +9 / -0 )

Even if the LDP-Komeito reach 2/3 majority in both houses, I expect no changes because that is not where his focus is.

I sure wish IMF would have left off the 15% consumption tax hike off their list of suggestions. Japanese politicians would gladly promote this while shuffling their feet on needed reforms.

4 ( +5 / -1 )

And yet another photograph of Shinzo pointing upwards....whereas there seemed to be a photo of the top of Renho's head briefly on the front page the other day. It's either this pose or the clenched-fist one.

It would be nice to see him doing things that normal people do: maybe watching a baseball game, enjoying a beer and some yakitori, chatting off-the-cuff with people in the street.

1 ( +2 / -1 )

And yet another photograph of Shinzo pointing upwards

But the finger, like Abenomics itself, is shooting blanks.

8 ( +8 / -0 )

So, we can all agree that Abenomics has been an irreparable failure then?

6 ( +6 / -0 )

One has to realize that the government is not trying to save the economy - they are trying to save themselves. The government itself is bankrupt and afraid of losing power.

Economies save themselves, when allowed to do so. If the government stepped out of the picture, the economy would be booming within a year or so. But, sadly, the only time governments step out of the picture is after total collapse, usually after losing a war or a revolution.

6 ( +6 / -0 )

How can you 'reload' something that has never been loaded in the first place?

So many targets ready and waiting for the 'third arrows', if only Abe had the wit and the will to unleash a few. Instead he cowers in the face of the special interest groups and wastes all his time and energy on unpopular and unnecessary nonsense like changing the constitution and further weakening the press.

1 ( +1 / -0 )

Japan also needs to gradually raise the country’s consumption tax “towards at least 15 percent” gradually “over regular intervals” to achieve fiscal sustainability and growth, the report said.

That's all fine and dandy. Hell raise it up to 20%. Just make sure that the people can afford it.

The IMF called for the government to ensure that profitable companies lift basic wages by at least three percent and reduce the gap between lifetime workers and growing numbers of so-called non-regular workers who often lack benefits.

Its pretty pathetic when the IMF has to step in and tell you to raise wages. 3% is still too modest. Bernie Sanders was campaigning for $15 an hour. why cant WE have 1500 yen as a minimum wage per hour??

So, we can all agree that Abenomics has been an irreparable failure then?

clops, I think we all agreed on THAT before the muppet shot his miserable arrows.

0 ( +1 / -1 )

Actually, "Abenomics" needs to be replaced, not reloaded. If the govt is happy to lower the cap on personal inheritance tax, in effect a wealth tax, it should also tax companies' non-performing capital reserves unless companies raise wages or increase hiring of full-time staff.

3 ( +3 / -0 )

The IMF is hoping that Japan starts moving into the black financially-wise so that it, the IMF, can get more money out of Japan in the form of donations, special payments, etc. ...

1 ( +1 / -0 )

Likely rebranded is all that will happen. nothing to reload. printing all done. no labour market or other economic reforms likely. government almost out of headroom to borrow to spend. And yen going back below 100...... what an abject failure. IMF just the champions of crony capitalism and corporatism globally.

1 ( +1 / -0 )

"steps to increase incomes"

Work longer hours! That what I did and it always worked, lol

0 ( +0 / -0 )

Japan is already on Abenomics 2 : Electric Bugaloo, and it's still not working. Abe knows as much about economics as I do about electrical engineering (and that's none btw).

0 ( +0 / -0 )

If the companies continue to refuse to cooperate by not giving their workers raises in line with the higher profits they've earned thanks to Abenomics, then there doesn't seem much hope.

Welcome to the world of shareholder capitalism.

-2 ( +0 / -2 )

The IMF has stuffed up the economy in Europe and wants to spread the manure in Japan.

1 ( +1 / -0 )

Simply stated, growth in Japan is impossible. It is impossible because Japan's demographics mean that the domestic economy cannot grow. Fierce competition, and the inability of the Japanese government to further manipulate the yen to give trade advantages means that exporting firms cannot grow.

The government still refuses to address the core causes of population decline, and the inability of Japanese companies to compete. Tariffs, fees, taxes, and other government burdens drive up the cost of living, making to too expensive to raise and educate children. Cultural business practices which focus on seniority and not performance, and companies which refuse to compete with each other in the domestic economy, and twist the arms of the government to manipulate the yen, or enact tariffs so as not to compete with foreign companies.

2 ( +3 / -1 )

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