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Gov't warns of rising prices as extra budget submitted to Diet

29 Comments

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29 Comments
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Let's keep on increasing prices while keeping salaries the same for a better tomorrow! That's the new economic model of Japan!

1 ( +19 / -18 )

The government is about two years too late.

This ‘warning’ is anything but!

But don’t worry as the Diet will be kept at a constant 23 degrees celsius, Kishida will continue to fly two planes everywhere,I will catch a cold in the post office,kids will continue to fall down en masse in the summer heat and salarymen will run around at midday whilst wearing a tie and jacket.

Theres always a vending machine selling low content cans of juice on the corner though…

-5 ( +11 / -16 )

Prices were, are rising well before corona and Ukrainian. Would seem the highly paid are now feeling what most of us have for years. And want to warn us? Now?

6 ( +14 / -8 )

Japan has been the Land of the Rising Rot for many years now. The warnings were evident 20 years ago.

-11 ( +9 / -20 )

Land of the rising #um.

-10 ( +7 / -17 )

Blame Russia only give Putin credibility with inflation, Russian have little to do with US economy, nobody really do any business with Ukraine,unless Ukrainian are selling arms to dictators,like in Burma

-5 ( +6 / -11 )

More like “Government warns public: YOU need to go on a Diet and live on a budget as we will also be raising the consumption tax again real soon.”

8 ( +16 / -8 )

""as the government submitted to the Diet a draft extra budget to fight inflation.""

I am LOST now, make up your mind guys, the BOJ is pushing for a 2% inflation Goal while the government is fighting it!!?

Do you want Inflation ? or Deflation ? or both at the same time , LOL

3 ( +11 / -8 )

nobody really do any business with Ukraine

Ukraine produces enough food annually to feed 400 million people.

https://www.theguardian.com/world/2022/may/12/russian-blockade-grain-exports-ukraine-ports-g7

-1 ( +7 / -8 )

Easy and obvious how to solve it. Instead of printing all the money into a few already rich pockets, from now printing it for helicoptering and create a copy of the 80’/90’ bubble economy. Often enough said now and ignored, so I guess it won’t be done and massive poverty as well as irreversible economic downturn is more preferred. So be it, all you stubborn suicidal morons!

-2 ( +4 / -6 )

イエエエイ! Exciting times ahead. As if Covid-2020-22 wasn't enough.

-7 ( +4 / -11 )

Any time a politician talks all hear is "Dur dee dur nyuk nyuk dur dee dur."

-2 ( +5 / -7 )

It has become the narrative now, but the surging raw material prices did not start with Russia's Ukraine invasion. They started with supply chain disruptions caused by COVID lockdowns.

Saying this, I know a country that is STILL closed off to tourists as of now.

And I also know a country that is STILL having massive cities in lockdown as of now.

Seemingly, politicians are not able to connect the dots, but if we have any more COVID related restrictions, this is only going to get worse. Saving people with an average age of 85 should not be our priority anymore, this economic downturn we are facing will have a much bigger impact on all of us, including the future generation, which is much more important.

3 ( +8 / -5 )

Ukraine produces enough food annually to feed 400 million people.

The Guardian? Pfff

Here’s something from the horses mouth and not some sanitized propaganda for the masses.

Despite difficulties exporting goods, Ukraine has exported 650,000 tons of grain.  Since the beginning of the marketing year, Ukraine has exported more than 46.5 million tons of grains and legumes. In the first three weeks of May, 64,000 tons were exported, reported the Ministry of Agrarian Policy of Ukraine. Thus, as of May 19, since the beginning of 2021/2022 MY, Ukraine has already exported 46.512 million tons of cereals and legumes. Exports were the following: wheat 18.542 million tons (in May – 16 thousand tons); barley – 5.676 million tons (8 thousand tons); rye – 161.9 thousand tons (none shipped in May); corn – 21.828 million tons (617 thousand tons in May). Also, during this period, 70.6 thousand tons of flour were exported (1.1 thousand tons in May).

https://ubn.news/despite-difficulties-exporting-goods-ukraine-has-exported-650000-tons-of-grain/

Russia is clearing the Ukrainian mines from the water so Mariupol will be back to business. As usual, the Ukrainian oligarchs got their money.

-3 ( +5 / -8 )

"Finance Minister Shunichi Suzuki said Wednesday surging raw material prices due to Russia's invasion of Ukraine...."

Yeah, because it's not at all due to the devaluation of the yen by the BOJ and subsequent 25-50% increase in import costs. Not at all. So, instead of combating the situation, let's give $50 billion to other nations! We all know the government giving our money away is not at all a cause either.

-4 ( +7 / -11 )

Kishida in his "new capitalism" plan promised increased wages so that us workers can use that money to buy more stuff and stimulate the economy....

so where is our pay raise??? inflation is rising and we need this pay raise quick!!!

3 ( +7 / -4 )

Wages going down, cost of living going up and the yen so weak - soon South East Asia will be our only travel option and it won't even seem cheap anymore :S

-1 ( +11 / -12 )

Isn't it better to just rise wages instead of giving money to different groups of people? If you make more you will be able to afford price hikes.

Ohh wait I forgot money handouts just to those in need, middle class can afford price hikes.

THIS IS THE BEST WAY TO ELIMINATE MIDDLE CLASS, SOON EVERYONE WILL BE EQUALLY POOR.

-1 ( +8 / -9 )

@Seigi Nothing has changed, in other words keep on working to pay taxes. Remember the government will never go broke, they are a business to take money off the top of the money you make. The only way the government goes broke is when people no longer work.

Let's keep on increasing prices while keeping salaries the same for a better tomorrow! That's the new economic model of Japan!

-1 ( +2 / -3 )

Stop subsidizing fossil fuel use! Use the money to cloak every south facing building in Japan with solar panels.

2 ( +4 / -2 )

The price of energy was going up before the war, but the sanctions (not the war) made it go up even faster.

Still plenty of cheap oil on sale though, just ask India and China.

The Ukrainians mined their harbours, as Turkey has repeatedly stated. There is no Russian blockade.

1 ( +2 / -1 )

How long can Japanese sustain low income high costs? Also, the world is moving in one direction opening up but japan is moving the other direction.

2 ( +5 / -3 )

Or some shareholders and ceos could get a slightly lower bonus so prices dont have to support their salaries and returns infinitely.

2 ( +3 / -1 )

Vreth Today  10:33 pm JST

Or some shareholders and ceos could get a slightly lower bonus so prices dont have to support their salaries and returns infinitely.

Japan has one of the lowest CEO to worker ratios. Japanese CEO’s of large companies earn about 16% of what CEO’s of comparable size companies in the US.

Shareholder dividends average a whopping 2.5% in Japan.

0 ( +3 / -3 )

Sooo will salaries be increased to accommodate the rise in prices?

1 ( +3 / -2 )

Japan can step up and increase its rice farming efficiency and increase production. Japan is rich in rainfall and water resources.

2 ( +3 / -1 )

Japan can step up and increase its rice farming efficiency and increase production. Japan is rich in rainfall and water resources.

Most agricultural lands have been destroyed due to the years of ridiculous bubbles and overconstruction. Japanese bureaucrats always protect the construction industry at the costs of the environment, so they can always secure supports from rural folks.

-1 ( +2 / -3 )

Higher wages only lead to higher taxes and consumption accelerating inflation. The best approach is to invest in revitalizing rural areas for younger generations to move and raise families and work remotely at a lower cost of living.

2 ( +2 / -0 )

The extra budget will be financed entirely by issuing new bonds, adding to concerns about the nation's fiscal health

Starting to think there might be a pattern here….

2 ( +2 / -0 )

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