politics

Japan to use ¥1.4 tril in reserve funds for COVID measures

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This Aso man seems with it. Perhaps he should run for PM. Aloha

-11 ( +1 / -12 )

The Delta blues

3 ( +4 / -1 )

I'm just curious what will happen if a strong earthquake occurs? Where will be all that emergency money that we were saving?

-7 ( +2 / -9 )

Have not heard from Aso for quite some time.

A publicity stunt to improve his election chances?

And how about using some money to construct "field hospitals", get some extra ICU beds, and so on?

I mean, while they're at it, another billion here or there definitely wouldn't hurt!

7 ( +7 / -0 )

Around 235.2 billion yen was earmarked to buy the medicines casirivimab and imdevimab, which are administered intravenously in an "antibody cocktail" treatment, Finance Minister Taro Aso told a press conference. The therapy lowers a patient's risk of hospitalization or death, according to overseas clinical trials.

.....hmm whats the point your lucky if you can even get treatment. How about creating a system where people can actually get treated why did the coward doctors get vaccinated if they are not treating covid patients.

0 ( +2 / -2 )

I seem to have missed any mention of the government allocating free money for those who have been affected by the endless SOEs. Wow, the LOAN of 200,000 Yen was extended? That's really great. Borrow money now for the work you don't have, and then when you go back to work, use part of that money to repay the loan instead of being able to use it to get your life back in order. Because no one has car payments or house payments or tuition or loans or other debt on their plate. What if those families who need it had to get said loan during the first SOE last year?

Where is another round of stimulus payments? Why was it OK to give EVERYONE ¥150,000 for free last year? Why can't anyone with severely reduced wages or who was laid off be given ¥200,000 in free support money now?

I just don't get it. The government enacts these sham SOEs which directly affect the livelihoods of untold numbers of people. It then continues the idiocy, thereby limiting the ability of many companies to hire new employees or even stay in business period. Is the solution for all of these victims to become Uber Eats delivery staff? Work delivering packages for Amazon? Meanwhile, the virus is out of control and spreading and said government can't even be asked to do legitimate amounts of testing because...reasons.

Not everyone is working at a blue-chip company. Not everyone has a full-time job. What exactly do people in hospitality do? What do people in the service industry do? Even if their employer (assuming it hasn't gone out of business) is able to pay some of their salary via government subsidization, that's not the full salary. What happens if someone has a family and a mortgage and commitments that can't be conveniently configured to fit within that reduced wage? Oh that's right. They're expected to use their life savings to deal with a situation that is neither their choice nor their doing nor their fault.

But hey, at least all that money spent on the Olympics and Paralympics was worth it!!

10 ( +11 / -1 )

The government has set aside 5 trillion yen in reserve funds to deal with the pandemic under the 106.6 trillion yen initial budget for fiscal 2021 starting in April. Following Friday's cabinet approval, some 2.6 trillion yen remains in the funds.

An ace article that would never come from Kyodo, maybe if they had a journalist like Matt Taibbi, would be how much of that money is going into the hands of Dentsu et al and how much for the welfare of the people.

2 ( +2 / -0 )

Because no one has car payments or house payments or tuition or loans or other debt on their plate. 

This is why you live within your means. Having alot of debt destroys people when an emergency arises. I have not worked since COVID started, zero income coming in and I am able to make it, and living quite well with a family of 5. Zero debt was the lifestyle I chose. If I didn't have cash, I didn't buy it. If I didn't have cash that meant I could not afford it.

-3 ( +2 / -5 )

Among other expenses, 154.9 billion yen was set aside for a program providing no-interest loans of up to 200,000 yen per household for those severely affected by the pandemic, following a three-month extension of the measure to the end of November.

How rich. Just keeps getting better.

2 ( +2 / -0 )

Of the amount, the government allocated about 841.5 billion yen to procure more vaccines and promote its inoculation rollout

Why ? You do not need to promote it as of now. The demands is still far higher than the offer.

https://www.asahi.com/ajw/articles/14427453

You will potentially not even have to promote it as private companies will step up for doing it. Moreover if Suga really move toward the use "of vaccine passports as part of Japan's path back to normalcy."

“We will consider regaining our daily lives and social-economic activities, such as going to eating and drinking establishments, and events, and taking trips, by using vaccine passports actively,” he said.

https://www.asahi.com/ajw/articles/14426484

1 ( +1 / -0 )

This is why you live within your means. Having alot of debt destroys people when an emergency arises. I have not worked since COVID started, zero income coming in and I am able to make it, and living quite well with a family of 5. Zero debt was the lifestyle I chose. If I didn't have cash, I didn't buy it. If I didn't have cash that meant I could not afford it.

Oh I totally agree with you. My comment was a general one about people who aren't in a stable situation for whatever reason. Also I recognize that after four SOEs in Tokyo, for example, some people have really been hammered quite hard. A resturant that does almost all its business from 5PM until 2AM really has a difficult time when they can only operate for 3 hours. The giant corporations have no real problem, but the independent ones do.

But it's not all about debt, though. Say that someone gets 100,000 Yen per month in salary and spends 30,000 Yen on rent. With only 60% of their salary if the employer closed, that would give a monthly income of 60,000 Yen, after rent leaving 30,000 Yen. Even if they had no debt, this person would obviously be in a very difficult situation to survive on such a small amount of money.

Quite frankly the issue with Japan isn't debt, it's salary. Japanese on the whole seem to be much more responsible with spending and living within their means than say, Americans. But many don't get paid very well to begin with. This is especially true of younger people as many companies have terrible starting salaries and it takes years and years or even decades of seniority to earn real money. Someone who has only been working for a few years likely hasn't had enough time to have saved enough that would allow for a situation like yours.

3 ( +4 / -1 )

That's 1.4 trillion yen that can't be spent on climate change mediation and the changes needed to protect Japanese people from floods, typhoons, and heat waves. They will kill far more people than covid, and against them, responsible behaviour and a mask won't help. Nations are bankrupting themselves on the wrong problem from a sense of moral panic and bad advice.

0 ( +1 / -1 )

Around 235.2 billion yen was earmarked to buy the medicines casirivimab and imdevimab

May I suggest also to reserve some money for also necessary LongCovid treatment medications like that new BC 007 and such? Probably not. lol

0 ( +0 / -0 )

How about giving us another 100,000¥ ?

1 ( +1 / -0 )

And you just know absolutely none of that ¥ will find it’s way to the pockets of the very people that are facilitating it lol

1 ( +1 / -0 )

I was hoping the government would help us all financially with another ¥100000 economic relief payment like we received last year.

1 ( +1 / -0 )

"Around 235.2 billion yen was earmarked to buy the medicines casirivimab and imdevimab, which are administered intravenously in an "antibody cocktail" treatment, Finance Minister Taro Aso told a press conference. "

But who can actually use this drug??? This drug needs to be administered in the first 7 days of symptoms. It can take well over a week to schedule a PCR test if you have symptoms, and the eligibility requirements to administer this drug is also very strict such that it can take days to confirm eligibility, as hospitals fear that they would not be reimbursed if the patient is later found ineligible.

Of the amount, the government allocated about 841.5 billion yen to procure more vaccines and promote its inoculation

Again with the propaganda, Japan already have enough vaccine doses to vaccinate the entire population. There is also no shortage of demand as people are willing to wait for hours to get a spot at Shibuya vaccination center. What is the problem is that the government REFUSES to distribute the vaccines to younger people, with many many cities refusing to even send out the vouchers. If Japan gov. wants people to get vaccinated, they need to drop the voucher system, drop the limitations where you can only get vaccines in your wards (which the national government currently REFUSES to supply poorer wards and cities) and allow free and open access to vaccines.

0 ( +0 / -0 )

@Larr Flint

Where will be all that emergency money that we were saving?

Japanese govt doesn't "save money," it "prints" it (marks up relevant accounts) with the push of a button. Japan never needs to borrow its own money. Emergency responses require resources, but not money, in currency-sovereign Japan.

1 ( +1 / -0 )

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