politics

Cabinet OKs ¥1.13 tril in reserve funds to cushion impact of virus

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17 Comments
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yeah!!!!!! give me the money and print more!

2 ( +5 / -3 )

You are not going to get anything it's all going to go to industrial companies that SUPRISINGLY are linked to the LDP.

8 ( +9 / -1 )

For households whose income has fallen sharply, the government will allocate 177.7 billion yen for a no-interest loan program providing up to 200,000 yen each.

So, do these zero-interest loans ever need to be repaid?

If so, when? And what happens if they are late to pay.... they need to pay more of that zero interest?

Anyone know how this scheme actually works?

(BTW, if anyone was curious, that 177.7 bil yen at 200k/family amounts to 888,500 families, so less than a million.)

2 ( +2 / -0 )

"yeah!!!!!! give me the money and print more!"

Why would one want more?

Why would anyone ( non Japanese) who advocates this notion that the "Yen is fake money, monopoly money, worthless printed money, Japan is bankrupt" etc, etc, and a myriad juicy adjectives to denigrate Japan's currency, would be yearning to lay a finger on any of it?!

Confused.com

I needs some Vitamin C, me thinks.

-2 ( +4 / -6 )

If I worked at my current job every day for the rest of my life I still wouldn’t make 1.13 trillion yen!!!

2 ( +2 / -0 )

Yen might be monopoly money, but we're all on the board. I'm the top hat.

3 ( +3 / -0 )

I wonder which of his friends that will go to.

1 ( +2 / -1 )

What about those on casual zero hours contracts like my partner? This sounds like his employer (A major clothing retailer) will be supported despite that employer having no work for my partner as demand for clothes has fallen dramatically. So, the employer gets paid to support the shareholder and my partner still has no work and no pay? That then has the knock on effect that I have to support him so I have less to spend into the economy too. This is why directly paying every person 100,000 was a much better idea. The government should pay everybody 100,000 a month every month. Let the consumers decide which businesses to support via their spending.

3 ( +4 / -1 )

To beef up quarantine steps such as conducting polymerase chain reaction, or PCR, tests for visitors from foreign countries, the government will set aside 33 billion yen.

How about making it easy fr us to have a test and ramping up testing for those in the country, so that we know whether to chill at home if one is infected or go out and help revitalize the economy.

0 ( +0 / -0 )

Im reporting in, after 4 months waiting, 3 phone calls chasing, more waiting I (setagaya-ku) finally received Abe's pocket money today. Hope you all get yours soon.

2 ( +2 / -0 )

The Yen is a fiat currency. You can print it as needed and erase debt. No problem. It isn't monopoly money, that is a dumb assertion. Japan holds more foreign debt than any other nation.

-1 ( +0 / -1 )

Title should be changed to Cabinet OKs ¥1.13 tril to be paid in kick-backs to the politicians and their family/friends. After a few sub-contract deals, 90% of the money will be sucked out.

-1 ( +0 / -1 )

Japan holds more foreign debt than any other nation.

No it doesn't.

0 ( +1 / -1 )

You are not going to get anything it's all going to go to industrial companies that SUPRISINGLY are linked to the LDP.

I understand what you’re saying, but most, if not all, companies we partner with have received huge money support without too much hassle. These are all small businesses. The government needs to reconsider this “drop in sales” requirement though, as this does not apply to new business which does not have any sales yet. The local office here tried very hard to help us (had a long Zoom meeting) saying that we only needed a tiny amount of income (in December), basically anything, to qualify. However having started up in December we have absolutely none, and will thus receive 0 JPY.

By the way, there is something called 給付金 which is a flat out payment you can use as you wish, and 助成金 which will cover your expenses for various things (new business ideas, creating new websites, keeping your employees etc). I must say they are generous enough towards businesses at least.

0 ( +0 / -0 )

@Cricky... exactly!!! Nothing for the usual people... most are for companies and industries ( most but not all linked to LDP in one way or another ).

200,000 interest free loan to the poor should have been a cash handout instead of a loan! The poor and needy people will continue to suffer the impact of this corona virus for many months or even years!

0 ( +0 / -0 )

@Paul14... very good points especially about the handouts and consumer rights to spend!

@stangerland...Japan’s debt is number 2 but the percentage debt to GDP is the highest with the second country being half of that of Japan. Overall the US is ranked 1 with Japan ranked 2.

https://www.visualcapitalist.com/69-trillion-of-world-debt-in-one-infographic/

0 ( +0 / -0 )

@stangerland...Japan’s debt is number 2 but the percentage debt to GDP is the highest with the second country being half of that of Japan. Overall the US is ranked 1 with Japan ranked 2.

The quote was that Japan had more foreign owned debt than any country. You posted something that shows overall debt, not foreign debt. Japan’s debt is mostly domestically owned. Not foreign.

1 ( +1 / -0 )

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