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Japan's 2023 net external assets hit record ¥471 tril on weak yen

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Does this mean we don't need to pay tax, pension or health insurance anymore or have the LDP found other ways to squander such a fortune?

-10 ( +10 / -20 )

Does this mean we don't need to pay tax, pension or health insurance anymore or have the LDP found other ways to squander such a fortune?

be nice huh? Dont forget though that this is not held by the government alone and in fact the majority of this is more than likely held by private entities.

4 ( +8 / -4 )

So... how about a little bit o that 500tn yen?...

0 ( +5 / -5 )

Spitfire, don't be silly. This money is all going to whaling fleets, Osaka Expo, and every other boondoggle the LDP is wrist-deep in kickback agreements with.

This used to be your money. Now it belongs to Taro Aso's buddies, and don't you dare raise your voice about where it all went.

-7 ( +10 / -17 )

Japan's 2023 net external assets hit record ¥471 tril on weak yen

But....

Japan's overseas liabilities, meanwhile, rose 97.37 trillion yen, or 10.6 percent, to 1,017.04 trillion yen, marking the fifth straight year of increase.

The yen's value affects both assets and liabilities oversea in the same way. How can they say that net external assets hit a record "on a weak yen"?

1 ( +1 / -0 )

To explain more:

If both overseas assets and liabilities are affected by the yen's value in the same way (both increase when the yen weakens and decrease when the yen strengthens), it doesn't seem accurate to attribute the increase in net external assets solely to a weak yen.

2 ( +2 / -0 )

The yen's value affects both assets and liabilities oversea in the same way. How can they say that net external assets hit a record "on a weak yen"?

The weak yen would mean foreign holdings would be worth more in Japan.

If both overseas assets and liabilities are affected by the yen's value in the same way (both increase when the yen weakens and decrease when the yen strengthens), it doesn't seem accurate to attribute the increase in net external assets solely to a weak yen.

What are the numbers?

2 ( +3 / -1 )

Meanwhile FDI in Japan remains anemic despite TSMC's chip factory investments.

It would be fantastic to see a huge jump in FDI in Japan.

-1 ( +1 / -2 )

@proxy A huge BYD factory sounds like a good start.

1 ( +2 / -1 )

Rich country, rich corporations... poor working people.

Does this mean we don't need to pay tax, pension or health insurance anymore ...

Yes. And I'm serious about that. However, taxes would be needed for wealth distribution and attempts to control inflation. Japan's sate pension fund is massive and continues to grow by leaps and bounds. What's more, Japan can print its own money when it needs it, while many other countries can not.

the LDP found other ways to squander such a fortune?

Most of these assets belong to the private sector. The govt needs to hit corporations, which are wealthier than they have ever been, with a higher corporate tax and cut the consumption tax. Low consumption is what is holding back the economy.

The weak yen would mean foreign holdings would be worth more in Japan.

That's true. But Japan has been the world's No. 1 creditor nation for 33 straight years, including when the yen was really strong.

0 ( +0 / -0 )

The yen's value affects both assets and liabilities oversea in the same way. How can they say that net external assets hit a record "on a weak yen"?

Not sure what you mean. Both numbers (external liabilities and external assets) are going to be affected in the same way on a weak yen. The total external assets are 1488 trillion.

0 ( +0 / -0 )

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