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63% of Japanese firms don't support Kishida, citing leadership, prices: poll

34 Comments
By Rocky Swift

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More than 80% of companies said they wanted the yen to trade no weaker than 130 per dollar next year, compared with this week's rate of about 136 per dollar.

The government doesn’t set the yen rate,

-10 ( +5 / -15 )

Can't believe he hasn't fallen on his sword yet.

Unbelievably poor politician in a land noted for its unbelievably bad politicians.

His lip service has reached its limit.

Should go as soon as possible.

10 ( +20 / -10 )

Inept LDP!!!

6 ( +17 / -11 )

What leadership?

5 ( +15 / -10 )

Whooo whooo whooo, he is the best the LDP has, right man for the right job. Don’t like a single party state where leaders are chosen for you then move. Not like they teach leadership or responsibility at schools, that comes from bloodlines.

-4 ( +5 / -9 )

Damn!~

1 ( +2 / -1 )

Don't need a rocket scientist to tell me the state of the Economy and Japan in general, I feel every time I walk out my front door.

Mr. Kishida and the LDP are draining this nation and moving towards confrontation with China and Russia, Just what the UC wanted.

7 ( +10 / -3 )

Well, if even they can’t manage to teach him about a functioning capitalism, doesn’t play a role if old or new one, then his time as their leading figure might be running out fast. He started quite engaged and it seemed that he has at least a working concept on paper, but obviously that’s not the case right from the beginning.

2 ( +4 / -2 )

And companies are the ones this government is helping over the citizens. It's hard to believe he is this unpopular.

5 ( +8 / -3 )

He should quit while he can still find a job.

2 ( +5 / -3 )

What is wrong with the other 37% of businesses?

Oh they are the ones with their faces in the trough?

4 ( +9 / -5 )

while 37% plan to spread it around through wage increases, a key policy thrust for Kishida.

Believe it when I see it!

Last December, 85% of firms expected profits to be stable or rise the following year, while 22% said they would focus earnings on wage hikes.

If 22% actually raised wages to a meaningful level, the economy would follow suit as as people see more money they spend it, IF they feel confident that the increases will continue.

Otherwise it goes into the "mattress" savings accounts. But seeing as how things havent gotten better, these 22% didnt do guano!

3 ( +5 / -2 )

What leadership?

He is one of a long line of Japanese PM's that just take their turn holding the office as "leader" and none have any idea what leadership is. None have been trained and none seem to care one way or another.

-2 ( +11 / -13 )

How's that New Capitalism™️ going, by the way?

6 ( +16 / -10 )

What a disappointment Kishida turned out to be....just an "Abe light" version. Lots of soundbites and empty promises about New Capitalism but almost no action or leadership. Should have stayed on as Foreign Minister since he seems more interested in jetting around the world and throwing money around then in fixing the myriad of Japan,s problems.

3 ( +10 / -7 )

People just need patience, his son will fix all these ills. Like a child of the sun he has the power to make Japan shine like the sun again. Patience,, you might be 70+ years old when it happens, and you might be one of a hundred left living in Japan, but it will happen.

-7 ( +5 / -12 )

Yen lost over 40% in two years. That would cause riots in most countries.

Inflation, plus the yen to usd losing 40% means most products need to be about 50-60% higher priced to make up for it.

Japanese just love to grind things out. They don't let staff go, just won't increase wages, until people quit.

The future of Japan will be a poor country with low population, great food, and safe.

Either way, may move to the maldives and do air bnb.

-7 ( +6 / -13 )

The future of Japan will be a poor country with low population, great food, and safe.

Either way, may move to the maldives and do air bnb.'

Yep, thats pretty much spot on...Maldives airbnb ..splendid idea. :)

-3 ( +7 / -10 )

Prices going up is not this fault, tho. Not entirely.

This is a video of John Oliver giving an idea on how we're in the perfect storm (inflation) and not just one guy's fault (Biden in USA).

https://youtu.be/MBo4GViDxzc

The video talks about US but things are not entirely that different over here in Asia.

So it can't be all just one guy's fault. Tho someone did print a lot of yen pre pandemic.

-3 ( +1 / -4 )

there is no leadership.

all this guy doing is travelling around the world,talking crap,printing money and increasing taxes for his us weapons shopping.

7 ( +10 / -3 )

I reckon the LDP is just using him now to push through all the unpleasant legislation that the next successor doesn’t want to tarnish their name with! Change most likely just in time for the next election…

2 ( +5 / -3 )

The Japanese people are not smart enough to vote for and elect any other party than the LDP, heads of business included. The electorate have a great deal to answer for.

-2 ( +9 / -11 )

Prime minister & LDP and their leadership of Japan is just “Dumb And Dumber”

That includes me for staying here and hoping for an improvement.

6 ( +6 / -0 )

So these companies are “citing dissatisfaction over his effectiveness and handling of inflation.” They think interest rates should go up to combat inflation.

If he does that, the cost of borrowing rises, companies stop hiring, and the economy slows. People won’t like that either. And the yen won’t necessarily rise in that case either, because it is affected by the current world economic situation. The dollar is strong because it is seen as stable in difficult times. Japanese policies won’t change that.

-1 ( +1 / -2 )

People you blame one guy for the economy and for the weak yen, but no one is blaming the same companies that refuse to pay their employees a decent salary. These companies are masters at deflecting the blame away from their pockets, they are not losing they are winning because the cost of goods and services is going up and the salaries are either at a stand still and not moving at all. Perfect time to get fat pockets and point the other way.

63% of Japanese firms don't support Kishida, citing leadership, prices: poll

2 ( +3 / -1 )

I keep hearing the same crap over and over: People keep voting for the same buffoons from the LDP because there supposedly isn't anyone else in the opposition who is a worthy candidate. How, just how is it possible that in a country with 125 million people, there's not a SINGLE politician with even a shred of charisma who can make a change?

6 ( +6 / -0 )

 How, just how is it possible that in a country with 125 million people, there's not a SINGLE politician with even a shred of charisma who can make a change?

Yes very true! Seems to be a worldwide phenomenon, this weak incompetent leader situation. Kishida/biden/sunkak/macron/putin etc, Why is this? I am sure kishida will soon be out and replaced with the next talking head.

-3 ( +3 / -6 )

People keep voting for the same buffoons from the LDP ...

 I am sure kishida will soon be out and replaced with the next talking head....

I am sure that the people who post only negative things about every leader no matter who it is or what the topic is will keep posting. Most of them don't vote in Japan, and don't have even a basic understanding of Japanese politics, but they are just looking for a way to express negative feelings or hate. I can't imagine why that is interesting.

-2 ( +3 / -5 )

Kishida is an abject failure, one in a long line LDP leadership failures.

3 ( +5 / -2 )

They don't like Kishida. I am not surprised at all. Ever since I have been reading Japan news every leader I saw has been disliked and needed to be replaced. By who? Who do Japanese people want in charge?? I am very curious. (I don't think that person exists.)

2 ( +2 / -0 )

What is wrong with the other 37% of businesses?

They are the ones smart enough to realize that the government's ability to control inflation is very limited, (short of imposing centrally planned wage and price controls), and that the problem is due mainly to global factors out of the govt's control.

The inflation job is mostly tasked to the Bank of Japan, which has the best policy tools. Also, in some corporate sectors, like energy, widening profit margins from hiking retail prices is another factor,. which can be controlled.

"The government has failed to come up with effective countermeasures to ease the burden of rising prices on families,"...

Haha, that's rich. The most "effective countermeasures" are substantiative wage rises -- and that's YOUR job, dummy. Didn't I see an article last week saying Japan Inc. is back raking in record-high profits? Well, go on, the ball is now in your court.

2 ( +3 / -1 )

FarmboyToday  12:57 am JST

"People keep voting for the same buffoons from the LDP ...

 I am sure kishida will soon be out and replaced with the next talking head...."

I am sure that the people who post only negative things about every leader no matter who it is or what the topic is will keep posting.

Perhaps they need something positive to comment on,. Any suggestions?

Most of them don't vote in Japan, and don't have even a basic understanding of Japanese politics, but they are just looking for a way to express negative feelings or hate.

What about the ones who can vote in Japan or do know about Japanese politics?

I can't imagine why that is interesting.

It sounds a bit like you support the LDP and the current administration? Could you explain why that is? Preferably without "well, just take a look at the opposition"- type remarks.

0 ( +1 / -1 )

Lorem ipsumDec. 8  10:57 pm JST

I keep hearing the same crap over and over: People keep voting for the same buffoons from the LDP because there supposedly isn't anyone else in the opposition who is a worthy candidate. How, just how is it possible that in a country with 125 million people, there's not a SINGLE politician with even a shred of charisma who can make a change?

Money. Running for office is extremely expensive and the only people offering up substantial campaign funding are LDP cronies. Furthermore vote-value disparities favour slow-witted old country bumpkins who don't want any changes, and slow-witted old political hacks who don't want any changes either because they and their worthless offspring are set up for life.

1 ( +1 / -0 )

They are the ones smart enough to realize that the government's ability to control inflation is very limited, (short of imposing centrally planned wage and price controls), and that the problem is due mainly to global factors out of the govt's control.

Centrally planned wage and price controls has never successfully tamed inflation anywhere, has it? It has been known to exacerbate it. Hmm, I guess that means it will be tried here, as failed policies seems to be the LDP’s penchant.

In the first place, the moronic central planners of Japan wanted to increase inflation, because they thought stable prices averaging about 0% over many years was some kind of economic disaster causing people to not buy stuff because it might be soooo much cheaper in future. That was all nonsense. They actually thought that the yen was “too strong” and gasp, that would mean that gasp, instead of business as usual, the economy ought to gasp, adjust gasp, to the reality accordingly.

But no, LDP under Abe had the brilliant idea of debauching the currency and spending money willy nilly.

What central planners need to learn is that they don’t need to centrally plan. They need to set up a positive economic environment and then all of us plan, decentrally.

The cure for inflation is well known, but the problem is the central planners of Japan don’t know how to get their sorry serves re-elected again if they administer the correct treatment.

The inflation job is mostly tasked to the Bank of Japan, which has the best policy tools.

The central bank needs to make for sound money, that is one part of the problem.

But inflation is too much money (by central bank) chasing too few GOODS and SERVICES (not by the central bank - by the real economy).

The policy of the government has huge impact on the production of goods and services in the economy. I read yesterday that they may want to hike tax rates. And just what do we think hiking taxes would mean for production of goods and services - more or less?

So there are many things the government can do to alleviate inflation - but the first one is to end the policy of explicitly seeking inflation.

0 ( +0 / -0 )

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