politics

Kishida unveils ¥17 trillion stimulus package as poll numbers slump

41 Comments
By Kyoko Hasegawa and Hiroshi Hiyama

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41 Comments
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More of the same equals more of the same friend. Don’t look surprised .

2 ( +9 / -7 )

The package will likely add to Japan's debt mountain, which stood at 261 percent of gross domestic product in 2022, one of the world's highest.

So we’re being billed for the stimulus. If you want to give us money, cut something to pay for it!

9 ( +11 / -2 )

We are seeing that the tide is turning from the vicious cycle of deflation -- symbolized by low prices

Where??

7 ( +12 / -5 )

Hasn't Kishida provided at least one stimulus package/year since he began?

12 ( +13 / -1 )

This didn’t work when Aso did it.

It didn’t work when Abe did it.

it won’t work when Kishida does it.

It doesn’t work.

16 ( +23 / -7 )

I don't want no more stimuluses, please raise the interest rates, bring yen's value backup and reduce the cost of imports that makes sense for the long term for the economy.

I hope you do call a snap election and just for once a competent leader emerges.

10 ( +13 / -3 )

Remove consumption tax on basic food stuffs, medicine and baby goods. 

It’s not rocket science.

I don’t think he is listening!

15 ( +18 / -3 )

add more taxes then give back half of it as a one time handout to make yourself look good. Anything other than a permanent tax decrease has no real effect to our lives long term and is only meant to trick simple minded people into keep voting for LDP. Also news of handouts like these further devalues the Yen.

10 ( +13 / -3 )

The government has already injected hundreds of billions of dollars into the economy over the past three years since the COVID-19 pandemic

As with many other nations, but particularly the Japan of the LDP, it has been a massive wealth transfer to the capital holding rich, increasing inequality with little reaching the public,

https://www.cnbc.com/2020/06/04/cramer-the-pandemic-led-to-a-great-wealth-transfer.html

All the people of Japan can expect is more of the same.

5 ( +7 / -2 )

More smoke and mirrors double Dutch from the ministry of blow smoke up my butt.

-2 ( +8 / -10 )

JROToday  04:11 pm JST

add more taxes then give back half of it as a one time handout to make yourself look good.

And 10% of that handout will come back to the coffers as consumption tax.

7 ( +8 / -1 )

Importers are suffering with weak yen - high import costs, they pass it over to consumers, cost of living increases. salaries stay same

Exporters are enjoying weak yen - high earnings, they DONT pass it over to consumers, cars dont get cheaper. Salaries stay same

With weak yen, the people are losing left and right. Only corporations earning profit. This is a vicious cycle.

2 ( +6 / -4 )

Bandaids which won't stick nor resolve the root problems of stagflation.

6 ( +6 / -0 )

Kishida can not just bribe old people in the country for votes.

He needs to bribe the whole country!

Verifiable fact: The yen is the weakest performing currency in the world. Thanks to know nothing Japanese politicians who are never replaced but are simply shuffled around. Japan does not need anymore "oyaji and obasan musical chairs."

If my room is filled with trash, it does not matter where I place it in the room. The room is still filled with trash!

Where is the cleanup?

3 ( +15 / -12 )

So this "stimulus package" (at the private citizen's expense) is suppose to stimulate the economy. For whom? @ Asiaman 7 - I agree. This didn't work from the past Prime Ministers, so why do it again? A better way would be to cut taxes on commonly spent items that have been inflated like no tomorrow, along with interest rates. There you go. Less "stimulus packages" and more ways that are realistic.

6 ( +7 / -1 )

Here's an idea -- take back what you were going to spend on military budget increase, and use that to help people. Nope? Well, continue being an empty suit while trying to please all sides with empty garbage.

-6 ( +5 / -11 )

Man, the term......'snowball effect' was just made for Japan.

-9 ( +1 / -10 )

Taking real money into hands, let's say about the 100-fold amount or better, that surely would have brought some nice and significant economy reviving effects, jobs, consumption, innovations, lot of start-ups and so on, but not such a small placebo pill, which doesn't even balances out the negative inflation and weak yen effects. Just imagine, 10 people get 500 man yen each instead of of only 4, then 2 or 3 have a nice idea and could. found a business, or put together their new capital and found even a company. But with 4 man yen , one time and for a whole year of inflation? That helps nothing and cements own poverty and stillstanding economy.

1 ( +1 / -0 )

More stop gap half hearted measures by an out of touch and delusional party of fossils.

-3 ( +2 / -5 )

Didn’t he notice that government bond yield are now rising quite quickly with the 10 years bond yield reaching already nearly 1 %. Financing debt at zero % is over. Printing more money by the BOJ to control rates will just lead to weaker JPY and higher inflation.

So the government sooner or later will have to raise taxes to finance the interest rate on the debt or try to control interest rate and see the JPY collapse and inflation rise sharply.

The time of kicking the can down the road is over.

3 ( +5 / -2 )

It's official -

https://markets.businessinsider.com/news/currencies/japan-yen-outlook-argentine-peso-turkish-lira-yield-curve-intervention-2023-11

The Japanese yen's underlying forces are so weak the currency is in the 'same league' as the Argentine peso and Turkish lira, Deutsche Bank says

2 ( +8 / -6 )

he is completely clueless...empty suit...

-2 ( +4 / -6 )

I wish I was younger so I could move. This would be a good time to leave Japan.

-2 ( +5 / -7 )

I was surprised to see that there are only 48 women elected to the Japanese parliament compared to 225 in the UK. The weakness of our parliament is the number who have no real business experience having been to university and the worked as researchers and aids for ministers.

What I do know it was a massive mistake in the UK to print money to subsidise big institutions with quantitative easing and furlough payments at the start of the pandemic. And last year domestic fuel payments.

It would appear Japan has made similar mistakes, spending what they don't have.

4 ( +4 / -0 )

The stimulus budgets are always used to help out their mates in the major JP companies; the so-called 'trickle-down economics.

It's always trickle-UP.

1 ( +2 / -1 )

The calm before the storm, when the exchange rate goes to 200 yen.

-2 ( +3 / -5 )

If it's broke, don't fix it.

Come up with an actual plan that may work, KISH.

We all know you're worthless, so we aren't expecting much.

But how about listen to the actual people living in the country.

Not just the group of old geezers sitting in the back, snoring.

0 ( +2 / -2 )

This problem is not just a Japan problem. It's a world wide problem. If you look at all the big economies they are all at a point of collapsing. The rich has only gotten bigger, look at how many millionaires there is today and look at how many poor people you have today the poorest countries are dumping their people on the richest in the name of mass immigration the banks have no money they are broke the only way that history has shown us to correct these problem is war, because war kills off large number of people and the rich will only get richer that is those in control and responsible for the rebuilding after everything is bombed to pieces. People will work and those economies will grow again. Its not just Japan its every country about now.

3 ( +4 / -1 )

The definition of insanity.

Doing the same thing over and over and expecting different results.

1 ( +5 / -4 )

Not one word about dealing with the root cause (typically Japanese), i.e. the absurdly low interest rates driving down the value of the Yen.

0 ( +4 / -4 )

The definition of insanity. Doing the same thing over and over and expecting different results.

Some might say, "If at first you don't succeed try, try again".

"The definition of insanity. Living your life by catchy proverbs."

1 ( +2 / -1 )

Asiaman7Today 03:01 pm JST

The package will likely add to Japan's debt mountain, which stood at 261 percent of gross domestic product in 2022, one of the world's highest.

So we’re being billed for the stimulus. If you want to give us money, cut something to pay for it!

Don't say it loudly or people will freak out...massive, useless military budgets.

0 ( +1 / -1 )

factcheckerToday  10:07 pm JST

Not one word about dealing with the root cause (typically Japanese), i.e. the absurdly low-interest rates driving down the value of the Yen.

Exactly. According to the BOJ own forecast released last Friday, inflation will have been above its 2 % target during 36 months but they still keep minus interest rate. Insane.

1 ( +2 / -1 )

Not one word about dealing with the root cause (typically Japanese), i.e. the absurdly low interest rates driving down the value of the Yen.

Everyone on the site is constantly clamoring for interest rate raise… 70% of mortgage holders in Japan currently have variable rate mortgages. Only 10 percent of all mortgages are fixed rate for the entire loan period. It would be catastrophic for most home owners if rates suddenly went up.

2 ( +2 / -0 )

Well let’s see, according to other articles here and other publications, corporations are recording record profits all the while receiving subsidies on a never before seen volume. Then they are now being offered additional subsidies should they increase wages. How about this instead, reduce subsidies currently being received unless wages are increased in relation to the record profits that are rolling in?

Mr Kishida, nice try on attempting to buy an increase in approval ratings, but until you get big business to come around, it will be all for nothing.

2 ( +2 / -0 )

Kishida is about done. He'll enjoy a few more foreign excursions and flame out in 2024 only to be replaced by another LDP empty suit.

-2 ( +1 / -3 )

It's just one of pretended policy that LDP regime had repeated during about decade to deceive public as if government doing something.

Their policy failed and deteriorated society year by year.

Present government also only fatten handful wealth class and large corporations as ever, never even notice misstep and never change direction.

-2 ( +0 / -2 )

Everyone on the site is constantly clamoring for interest rate raise… 70% of mortgage holders in Japan currently have variable rate mortgages. Only 10 percent of all mortgages are fixed rate for the entire loan period.

Quite right.

It would be catastrophic for most home owners if rates suddenly went up.

Those 70% of mortgage holders still on variable would be wise to get with the program and consider moving to fixed, and taking the interest rate risk out of their concerns. At least if they have a sizeable loan that they couldn’t just pay down faster with ease.

Because there is only catastrophe of another kind waiting if the central planners continue to print money willy nilly, to keep the government solvent.

2 ( +2 / -0 )

How about this instead, reduce subsidies currently being received unless wages are increased

How about eliminating subsidies.? (Full stop)

The government is in huge debt and needing to print yen to finance its spending, so stop low quality, low priority spending. The economy should be set free from the shackles of central government intervention.

2 ( +2 / -0 )

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