politics

Japan to extend $850 mil bailout loan to Mongolia

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Another country fallen into the trap, mainly instigated by the IMF "with hikes in taxes and cuts in social welfare expected." this is the price of the loans. So many countries in Europe and Africa are in the same position and will never be able to free themselves from debt, which in turn keeps more of their people in poverty or a lower standard of life. Unfortunately this is how capitalism works, or should I say the IMF and banks, there is always a price to pray, there is no magic wand.

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Why does Japan not care for their own people the same way?

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So many countries in Europe and Africa are in the same position and will never be able to free themselves from debt,

This is because the people of these places vote for politicians who make expensive promises, without regard to their cost. The politicians buy votes in exchange for increased welfare, more pay and bigger pensions for public servants, and expensive projects which cost many times what they are worth. In the end, the people which are elected mismanage their countries to the point that money must be borrowed to keep these promises funded.

This is not the fault of the lenders, but of the people who are foolish enough to elect liars and crooks to run their countries. The people elected these thieves, and so the people must pay the price for their foolishness. The thieves not only get away with looting their countries, and robbing their constituents, they direct responsibility away from themselves by blaming the lenders whom they beggared themselves and their country to in exchange for more money to loot, calling them "vultures" and worse.

A little personal responsibility goes a long ways. If I cannot afford to buy things without paying off my debts, then I don't buy them. And if my government cannot afford to pay for things without being able to pay off it's debts, then it should not buy them as well, right?

There is no free ride.

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@gogogo: Do you have proofs Japan does not pay for own country victims?

This is loan.

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@toshiko: Tepco, government owned, still only paid 15% compensation to victims of 3/11

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TEPCO/gov't as of March 3, it had paid a total of around ¥7 trillion in connection with around 2,549,000 cases, about 93 percent of the total number. It prioritized the compensation to individuals and companies. It has only paid 6 percent of the compensation sought by the 12 municipalities designated by the gov't as evacuation zones.

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When Mongolia sells uranium, Japan will. Collect a lot more money.. How many people live in Japan? Can't be there are more victim in Japan than Aanese population. Japan has eyes on Mongolian sales of uranium.

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