politics

Cabinet approves Y423 bil new stimulus for ailing economy

14 Comments
By Elaine Kurtenbach

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14 Comments
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Japan sliding further and further into debt.

4 ( +6 / -2 )

I could use a stimulus package myself as well. Btw how many of these packages can they use? Surely it must end somewhere?

1 ( +2 / -1 )

If my memory serves me correctly wasn't there an article last week about where the last so called stimulus construction monies for the north east went. ie: whaling was one. I hope this money is not going to go the same way. There has to be more accountability and transparency from the government about spending. The public want to see where money is going. Like " A big chunk of that is to go to support for small- and medium-size businesses." A big chunk, thats so vague, it could be funnelled anywhere,and repeatedly I've mentioned, these politicians, sorry "public servants' have to be held accountable for all public monies. China does seem to have the answer to corruption in public office, when caught that is, they pay with their lives as an example to others. Not saying thats right by the way.

3 ( +3 / -0 )

its called quantitative fleecing.

4 ( +4 / -0 )

The emergency spending package, which is double the size originally expected...

....and roughly equal in amount to what Sharp lost in 6 months time...

0 ( +0 / -0 )

The fleecings will continue until the bleating stops.

The BOJ dolts see how successful Helicopter Ben's Operation Twist and Screw have been that they've decided to do the same, and to continue to follow the same failed policies created by the hapless JMK and boorish apostle Klug. Just wait until the capital controls begin…

0 ( +1 / -1 )

More money going down the toilet ( or more specifically into crony company pockets )...They have been doing this for 20 years and it does nothing to help - the economy problems are structural. Need to promote comprehensive reforms, cut the business red tape, encourage foreign investment, sign free trade agreements, reform labor market etc..as well as CUT the damn bureaucratic waste that they promised at the last election! Just buying more ships and helicopters and reinforcing roads and bridges will only add more to the debt mountain and before long the politicians will be whining about the need to raise taxes on the average Taro again... Bloody ridiculous...

1 ( +2 / -1 )

These idiots will never learn, about 80-90% of this flushed straight down the crapper to politically connected "companies", the yakuza will as usual scam a ton of this as "loans" to small/med business who will borrow AGAIN with the FULL INTENT NOT TO RE-PAY! etc etc etc

When the $$$ is gone THEN the govt will do this again, been going on for ages now this useless scamming

4 ( +4 / -0 )

This sounds like business-as-usual pork barrel spending to benefit construction companies and other government contractors... How exactly is this type of spending supposed to stimulate the economy as a whole?

1 ( +1 / -0 )

Stimulation will make one postive outcome for making weaker Yen. Printing more Yen will make currency depreciation.

Japanese Yen is very high at the moment. It is making J-products less competitive in the market. While J- companies are struggling to sell their goods, Germany is enjoying the export boom to Asia particularly to China. Thanks to printing more and more Euro, it is weaker. It is making Germany and northern Italy for getting more and more of market share. If Germany is still using Deutshe mark, they will struggle like Japan. Switzerland is also making Swiss fran weaker. They do not like their currency is strong.

It is also true for US which is printing more and more notes. It is making the dollar weaker. It is not only making export competitve but also making the foreign debt amount lower. Strong economy is accelerated by weak currency.

1 ( +1 / -0 )

taking money from where? hyper inflation on the rise soon.this country is doomed long time ago. they only not bankcrupt cos own people buy 95% of countries debt themself and budget spends 48% just to issue new bonds and repay the interests. one day its all will blow up.

0 ( +0 / -0 )

Tax cuts would have been the better choice. After 20 years of stagnation stemming from structural problems, tho, fiscal policy gets tired, really tired...and pointless.

0 ( +0 / -0 )

The banks are under no obligation to lend this money out to me and you (definitely not me and you once they see our passports!!!)

don't know if it really makes much of a difference that 95% (or whatever the number is) of Japanese debt is held inside the country... it still has to be repaid at some point!

Perhaps foreign investors demand higher interest rates than the gov't is willing to borrow at which is why more nationals buy J Bonds and such. just a thought

0 ( +0 / -0 )

Seems like the bulk of the stimulus of 423 billion yen will go to government useless projects and no much to the people in Japan who really needs it to rebuild their lives.

0 ( +0 / -0 )

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