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Japan's fresh virus emergency to cost economy ¥1 tril

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Keep printing

12 ( +12 / -0 )

That is what printing presses are for and when you own most of your own debt you can print all the paper you want...so why is the Yen only sitting at ¥100 = $1.00? That boggles our minds but we are not economists...thank the lordy lord on that.

8 ( +9 / -1 )

So the country is losing much more than what it can gain from the games (not to mention the increase of risks from the pandemic), which would make not cancelling them unexplainable, except that the losses are something the whole country will have to shoulder, while the profits will be concentrated in the pockets of just a few "very important" people. The decision can then be explained easily by understanding those few people are much more important than the rest of the country.

8 ( +10 / -2 )

In these business articles what is meant by the "economy" should be clarified. In this case the stock market will remain strong, the central bank printers will keep on with the easy QE money for financials etc.

But it will be a rationale for depressed wages, more precarious work and regressive taxes coming up.

5 ( +6 / -1 )

And no vaccinations over Obon.

5 ( +5 / -0 )

Tax

3 ( +3 / -0 )

And after all this money literally lost, (Ex PM, Ex Olympic Japan Chairman) Mori personal company getting $1.5 million one day, closing its doors the next with nobody able to explain what the money was for or where it went? As an example of the cost of this sports day. And tax payers begrudgingly given ¥100,000? Would be nice if after all these lock downs a few more of those endless ¥ were shared with the end payers of this fiasco. Can’t be that hard to find the money in the “emergency budget slush funds”?

5 ( +5 / -0 )

Maybe focusing on the "Go To Travel" campaign instead of vaccines wasn't such a good idea after all...

6 ( +7 / -1 )

Where did all that money go? -* *It’s all a “shell game”.

U.S. Military Procurement Fraud Investigators referred to as “purchasing $640 toilet seats” for government projects.

https://www.latimes.com/archives/la-xpm-1986-07-30-vw-18804-story.html

1 ( +1 / -0 )

All of this over a virus with at least a 99.5% survival rate, including a near-100% survival rate for reasonably healthy non-elderly people.

We should have been focusing on protecting the elderly and those with preexisting comorbidity conditions -- the folks who make up the vast, vast, vast, vast, vast, vast, vast majority of those who've died with the COVID.

Instead, we've been idiotically treating everyone as being at equal risk of dying of the disease.

If a ship sinks, and there are passengers in lifeboats and other passengers in the water, the rescuers don't treat all of them as being at equal risk of death. They rescue the people in the water first. Because they are clearly more at risk. The people in the lifeboats are, relatively speaking at least, quite safe.

But our COVID approach has been the equivalent of trying to rescue everyone, those in the water and in the lifeboats, all at once and to give them equally prompt attention. Totally idiotic.

And we've wreaked massive and even untold psychological, social, economic, and even physical harm and damage.

Why? Is it because hypochondria has become a completely societal thing? Is it because politicians feel that the more "drastic action" they take, the better they look? Or is it all part of the "Great Reset," which first necessitates inflicting heavy damage on the middle class and sowing as much pain and misery as possible -- like an arsonist who then comes and puts out his own fire so as to cast himself as a hero?

Whatever it is, my hunch is that history will look back on our handling of all this, and wonder why we freaked out so much.

-5 ( +2 / -7 )

4 million dead people are what is behind the .5% you cite. Thats about the same total death count as the tragic Vietnam War but no one takes that death count seriously either I would assume you think. Covid-19 deaths in US worse than World War I, II, Vietnam, 9/11 combined, ah but just a trifle you must think

History will not be kind to the world leaders like Modi, Trump, Putin and Bolsonaro who through failed leadership during the pandemic let hundreds of thousands of their citizens die for no reason. Nor to the deluded who follow them.

2 ( +6 / -4 )

Printing money without fairly distributing it, that is the problem here. Make it helicopter money and then enjoy a new bubble economy like in the 80’s/ 90’s and healthy interest as well as inflation rates. Giving the printed trillions only into few hands, doesn’t amend much, it only increases the whole debt amount and is strangling everyone and the whole economy, because the masses have to spend all that fewer money to pay the debts only, so nothing is left for consuming or business activities and investments, a downturn spiral at its finest.

3 ( +3 / -0 )

"Japan's fresh virus emergency to cost economy ¥1 tril ( 10 B USD)"

Chump Change to a 6 trilllion USD economy

-2 ( +1 / -3 )

So, another blow to the ordinary Japanese person just for an overblown spectacle to go ahead for the aggrandizement and benefit of a few.

It is disgusting and disrespectful to the Japanese people

5 ( +5 / -0 )

so why is the Yen only sitting at ¥100 = $1.00? 

Because it's not "money printing." It's "bond buying." Institutions give up their bonds in exchange for cash credits. It's a swap, not an injection. No one (except me and an alarming few others) understand what really takes place and hence the widespread confusion why 20 years of loose monetary policy hasn't created massive inflation or weakened the yen.

Printing money without fairly distributing it, that is the problem here.

The fiscal side is doing its part, handing money to those affected. As for the monetary side, asset inflation can work for the middle class and even the low income people as well, depending on how they chose to spend the money they have left over.

1 ( +3 / -2 )

Today, the dollar-yen rate is ¥110.25

0 ( +0 / -0 )

Say hello to a tax increase between five and seven percent in 2022 to cover the cost of this pandemic and cleverly hidden in that, the cost of the Tokyo Olympics.

1 ( +1 / -0 )

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