politics

Gov't eyes second extra budget worth over ¥100 tril: Nikkei

9 Comments
By Leika Kihara

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9 Comments
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As I see and hear of small businesses closing their doors, it kind of makes me wonder exactly who is getting the money.

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Small businesses applying for support/loans need to complete a 90 page form.

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The deepening pain from the pandemic is forcing the government to add to Japan's huge debt pile, which is already twice the size of its economy, to pay for big spending plans.

The ‘pain’ has been self-inflicted.

The trillions of yen of more debt are unneeded.

Whatever Abenomics has done, it hasn’t worked.

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PRINT the FAKE MONEY!!!!!!!! we want a money tsunami to cover the lack of toilet paper!

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If money is given to citizens, they will spend it and it will filter up to big business.

if money is given to big business, Japanese workers will start going to Indonesia, Philippines, Laos etc in search of a decent living.

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PRINT the FAKE MONEY!!!!!!!! we want a money tsunami to cover the lack of toilet paper!

As long as those monetary aids are not translated into the USD or moved elsewhere, the Japanese economy is "safe" in the eyes of neoliberal bankers at the Bank of Japan. Japanese leaders created the self-induced deflationary economy to avoid a hyperinflation of Weimar Republic style. Abe and Aso fear hyperinflation more than deflation or Lost Decades.

Japan has been printing Yens without any repercussion because it managed to fool the world with a highly bureaucratic, yet efficient domestic economy. This lends to the idea of Japan never going bankrupt because all the debts are owned by itself, and the domestic economy is functional to accommodate lifestyles of its citizens. In economics, stability is the number one value that investors look at a good, developed economy. However, Japanese lifestyle may depreciate rapidly overtime, while everyone outside will be much well-off. North Korea is the perfect example of such regressive, bureaucratic economy leading to. At the opposite, Bhutan is the perfect example of such progressive, bureaucratic economy that we can learn a lot from. Japan is definitely not Bhutan but it does having some elements from North Korea (except starvation and shortages).

if money is given to big business, Japanese workers will start going to Indonesia, Philippines, Laos etc in search of a decent living.

You are correct. The type of Japanese people, are moving away from Japan, are the elite and upper middle class people. They left this dying country long ago, even before the bubble crash. Most of the elite people are living in Europe and North America. They never give a crap about Japan for they care. The more recent people are upper middle class (management type) who either begins to move away or already settles a new life in Singapore, Vietnam and Indonesia/Malaysia/Thailand. The CEO of Don Quijote is a prime example as he settled permanently in Singapore. He loathed the Japanese, bureaucratic economy along with Takafumi Horie, who has interviewed Carlos Ghosn recently as both of them share hatred against Japanese bureaucracy.

I fear that most Japanese workers do not have enough money to start new lives elsewhere. Folks in Southeast Asia are now becoming more wealthier than Japanese and Korean. The prices will come up as the result, and the Yen trades into very little USD. The world uses the USD for all transactions, even Cambodian public replaced its national currency for USD. Moving away from Japan has been for the big boy league who knew the economy was rigged and screwed from the start.

Whatever Abenomics has done, it hasn’t worked.

The policy actually worked flawlessly.

For the foreign investors and a bunch of selected LDP cronies who worked for Goldman Sachs and other American equity firms.

They enjoy feasting on cheap, valuable assets in Japan right now. Real estate used to be a hard thing to get for foreigners, but now it has changed. SoftBank is going to prop up 5% of its shares for the selling. This is only the beginning! Imagine the largest Japanese telecom falling into the hands of Paul Singer who is infamous for vulture practices? Or Japanese hospitals/retirement centers being managed by greedy, American private equity firms?

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@since1981Today  07:09 am JST

As I see and hear of small businesses closing their doors, it kind of makes me wonder exactly who is getting the money.

You can take a look at Nikkei and government-sponsored ETF purchases of last three months.

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If ever there was a time for govt to run up debts, this was it.

Too bad they were already so deeply in debt before it came to pass, and we taxpayers only had a meandering economy to show for it all.

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A story about fiscal spending to help companies and Bank of Japan policy actions on bond yields, as reported in the Nikkei, really belongs in the business section, not "politics."

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