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Japan's lower house approves ¥13.2 tril FY2023 extra budget

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Fight inflation by giving more money, that's solution from JGovt.

-3 ( +7 / -10 )

Every year they approve extra budget spending to fight inflation but it has no effect and people are still struggling with low salaries and an ever increasing cost of living. It's not difficult to conclude that the J-Gov is not addressing the issues behind the inflation and just throwing money at it in a hope it will fix itself.

-3 ( +4 / -7 )

so what are news about japanese debt?

crucial info.how much per head now,how and when will be paid?

-1 ( +2 / -3 )

EastmanToday  09:16 am JST

so what are news about japanese debt?

crucial info.how much per head now,how and when will be paid?

10,000,000 JPY per head!

In history the way to repay such a big debt (2 nd in the world after Venezuela) has usually been to inflate it away.

1 ( +2 / -1 )

No matter what governments do, from Japan to Jordan, from the US to Uzbekistan, there are always groups who loudly condemn everything. Dont spend more money defending our country, the people need help. So when they spend money to help people, another group pops up and says, yeah throw money at those struggling financially, cause that wont solve the problems at all. Damned when they do and damned when they dont.

No government has all the answers, not Despotic, Authoritarian, Democratic or Monarchy. At least JGov are doing something to try and help which is better than those countries that do absolutely nothing to try to assist struggling people and families.

Runaway inflation has really only been an issue across the globe since Covid. Before that it was isolated nations run poorly that had this issue long term.

This is not a Japanese government alone issue. Credit where it is due, they try. Help out with your suggestions by writing to your local member of government. I have done that a couple of times in my country, and you always get a reply, sometimes fast and other times slowly but they read it and respond.

If you do nothing but complain then your not helping yourself or anyone else.

-3 ( +1 / -4 )

Peter14Today  11:38 am JST

No matter what governments do, from Japan to Jordan, from the US to Uzbekistan, there are always groups who loudly condemn everything. Dont spend more money defending our country, the people need help. So when they spend money to help people, another group pops up and says, yeah throw money at those struggling financially, cause that wont solve the problems at all. Damned when they do and damned when they dont.

No government has all the answers, not Despotic, Authoritarian, Democratic or Monarchy. At least JGov are doing something to try and help which is better than those countries that do absolutely nothing to try to assist struggling people and families.

Runaway inflation has really only been an issue across the globe since Covid. Before that it was isolated nations run poorly that had this issue long term.

This is not a Japanese government alone issue. Credit where it is due, they try. Help out with your suggestions by writing to your local member of government. I have done that a couple of times in my country, and you always get a reply, sometimes fast and other times slowly but they read it and respond. 

If you do nothing but complain then your not helping yourself or anyone else.

It is not a problem about complaining about the government doing something but about recognizing that the main cause of inflation in Japan currently is the weak JPY. The key actor to address this problem is the BOJ not the government.

0 ( +1 / -1 )

when will (the debt) be paid

They don't need to pay it back. But if they did, who would they pay it to?

-2 ( +0 / -2 )

the J-Gov is not addressing the issues behind the inflation

The inflation is deliberate.

They wanted inflation.

If you plant rice, you get rice.

0 ( +1 / -1 )

They don't need to pay it back. But if they did, who would they pay it to?

The holders of the debt (one of the main ones holds the debt as assets on its balance sheet, and the yen that we use on the liabilities side… think about what happens with a “balance” sheet when the value of one side goes down…).

So you might say oh but they can just… sell more debt so as to pay back the current stuff.

But what if the BOJ… decides to tighten monetary policy to deal with inflation… they are not going to print more money in such a scenario. Market rates - long term interest rates - will go up, meaning the government will need to pay higher interest to attract buyers…

Obviously, as history has shown on numerous occasions, the government is not engaging in a sustainable strategy. You don’t need to keep being wrong about this forever.

0 ( +1 / -1 )

But what if the BOJ… decides to tighten monetary policy to deal with inflation

There's a good chance they will start doing so by late this year or nearly next year. Then we'll see if your little scenario pans out.

-1 ( +0 / -1 )

Absolutely no chance this year, and doubtful in 2024. I don’t think you understand what “tighten” means.

Let’s spell it out so as to avoid hallucinations. For example, printing only 30 trillion yen instead of 40 trillion yen of extra money is not “tightening”, it is still loosening.

Also, I personally do not expect them to tighten, but remain loose. And I expect inflation to continue, and thus, the situation to continue to get worse.

These central planners are gutless. Like alcoholics who know they are screwed but keep drinking more anyway.

-1 ( +0 / -1 )

Who owns your money? Governments need funding to provide needed services to society but all after tax income should be the owned free and clear by the holder without additional government confiscation.

Intergenerational wealth transfer is an important way for the middle class to accumulate wealth and more importantly offers an incentive to build wealth. The gift tax and inheritance tax rates in Japan are punitive on the middle class who do not have the expertise to dodge their family wealth being taxed a second time by the government. The basic tax exemption of ¥30 million on inheritance is not a lot of money and has resulted in many people refusing their inheritance and abandoned fields, land and buildings across the country.

With the rapidly aging population in Japan and the very soon rapidly dying population, the Japanese government must take its hands out of the pockets of the middle class and at the minimum increase the tax exempt amount to ¥500 million indexed to inflation to allow the middle class to accumulate wealth. Cut taxes, cut punitive wealth confiscation and cut government spending if the government really wants to help its own citizens.

0 ( +1 / -1 )

Nice try, but without courage, in a small and useless size. That money goes into short term consumption and then it's over again for everyone. Instead of such a little cute paper crane a real money helicopter would have been needed. With some real money young people could afford a family and children, all young people, workers and employees could could study at an university or skill-up their capabilities for new technologies. Then innovation and production of new services and products would appear which sell on global markets and bring everything in economy up on newest level and even pay the helicopter money back. But this useless attempt here, 7 or 10 man Yen? Yes, of course nice to have, but surely not at all problem solving or worth a deeper discussion.

-1 ( +0 / -1 )

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