politics

Abe weathers no-confidence motion by 4 opposition parties

14 Comments
By ELAINE KURTENBACH and MARI YAMAGUCHI

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14 Comments
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With Japan’s public debt at nearly 240 percent of its GDP, putting the nation’s accounts in order remains an urgent priority.

public debt remains stable since long despite deteriorating economy :(

0 ( +1 / -1 )

He has been lobbying to delay the increase until October 2019, arguing that the risk of a severe downturn is too high because of uncertainty over the global economy.

He is back-pedaling as fast as he can, knowing that if he went through with the hike his party would face a HUGE backlash in the upcoming elections.

He tried using the Leman Shock excuse with the G-7, and they shot him down, and now he is laying the blame on the "global economy", but deep down he has to be seething that he can not raise the tax to increase money coming into his government so he can further fund more pork barrel projects.

Abe is the teflon man reincarnate, he is the one that pushed for it, and he is the one, along with the LDP, to blame for the inability to get the economy moving BECAUSE his ideas are outdated and will not work.

He can not get on TV and say that Abenomics are a failure, it would signal his own demise.

5 ( +5 / -0 )

“It’s irresponsible and shameless,” said Japan Communist Party leader Kazuo Shii.

I'm shocked!

0 ( +1 / -1 )

Abe no longer trusts the ministry or its projections, after it told him a 2014 consumption tax rise would have only a modest and transient effect on the economy. Instead, it caused a recession. Mr Abe already gave up sales tax by exempting food. The delay could cost about 2 per cent of GDP, immaterial to Japan’s debt, as long as the tax rise eventually goes ahead. If Abe government adds a large spending package as well, it will reduce the pressure for monetary stimulus.

-1 ( +0 / -1 )

“Prime Minister Abe should immediately step down,” he said. “He mishandled economic policy, and his Abenomics has failed.”

Hear!! Hear!!

It’s irresponsible and shameless,” said Japan Communist Party leader Kazuo Shii.

True! True!

4 ( +4 / -0 )

Three times the number of votes against?

This was just another day at the office for Abe. And another day wasted by the Diet instead of doing something useful.

6 ( +6 / -0 )

Prime Minister Shinzo Abe easily weathered a no-confidence motion Tuesday submitted by four opposition parties...

Well, with a solid majority in the Diet of course he did. What on earth did they expect? No wonder they keep losing elections.

4 ( +4 / -0 )

“Prime Minister Abe should immediately step down,”

I heartily agree however - WHO could take his place ?

In the picture above, he looks like he's on the verge of tears...

3 ( +4 / -1 )

Abenomics has failed and lying Abe must go. He has said many times that he would only postpone the tax rise if there was a global economic shock or a major disaster. There is neither. He cannot justify his lies by saying that there is a risk of those things happening as there is always a risk. He never mentioned "risk" before and he shouldn't do so now. Still, I'm sure the "journalists" listening to his lies tonight will be too scared to take him to task.

5 ( +5 / -0 )

“Prime Minister Abe should immediately step down,” he said. “He mishandled economic policy, and his Abenomics has failed.”

true...even if the real truth will rather be the "absence" of economic policy, Abenomics is made of thin air, PM is devoting his time to change the constitution in one hand and raise more taxes in the other hand, beside that, this has been the perfect immobilism.

3 ( +3 / -0 )

In the picture above, he looks like he's on the verge of tears...

crocodile tears (!)

2 ( +2 / -0 )

Japan risks having its credit downgraded, though the impact would be limited by the fact that almost all of its debt is owned by domestic investors or the central bank.

It is unclear how Abe will pay for various government spending commitments that were supposed to be financed through the tax increase.

Abe will just keep having the central bank hit the "print" button. So long as the extra straw doesn't break the camel's back, Japan could continue to muddle along.

The risk is that Japan gets called out, and demand for its Monopoly money currency drops significantly. In a sense, a global economic boom may be the bigger risk for Japan than a global economic crisis.

2 ( +2 / -0 )

The risk is that Japan gets called out, and demand for its Monopoly money currency drops significantly.

Risk? What risk are you referring to here? Few nations carry any Japanese debt, and the only people who would have any clout in "calling Japan out" are the Japanese people themselves. The Japanese public is carrying the overwhelming debt through their pension funds, the banks, Yucho, JA and others, so if they "call out Japan" they are cutting their own throats.

Abe knows this and counts on it. The biggest shock would be if these folks buying all the paper one day stopped, THAT would send shock waves world-wide and then Japan Inc would truly be at the mercy of the world economy.

0 ( +0 / -0 )

The debt is not the issue anymore as the central bank is buying it all, Zimbabwe style. So that is taken care of.

The risk is that the central bank that buys the debt is issuing currency to do so, and there may come a point where people don't want to sell Japan so much stuff in exchange for Monopoly money. Hopefully it doesn't come to this but hope is not my plan.

0 ( +0 / -0 )

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