politics

Noda, LDP chief Abe clash over monetary policy

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As much as I don't like Noda, what Abe is standing for is even worse. Outlook for Japan is sure bleak. Bring on the TV debate.

7 ( +8 / -1 )

The two leaders also differed on foreign policy especially the LDP’s proposal to post public servants on a permanent basis on islands at the centre of a territorial row with China to boost Tokyo’s effective control.

Just put the whole Diet down there with Ishihara and Hashimoto too. Tell them they can come back when they have it all figured out.

1 ( +1 / -0 )

Am I missing something? All this talk about money and construction but no direct mentioned about spending/rebuilding the Tohoku region. Why is that?

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1 ( +1 / -0 )

"Our beautiful oceans are being threatened as Chinese ships are entering our territorial waters one after another," Abe said.

How on Earth do Chinese ships ruin the beauty of the oceans around Japan?

Chinese ships are that ugly?

This idiot is incapable of logical thought.

1 ( +4 / -3 )

I think Abe will come up with excuses to avoid a one-on-one TV debate. His "policies" are contradictory, dangerous and nonsensical. He won't be able to last an hour making empty statements such as "I will restore Japan" and if he goes into detail he will be digging a hole for himself.

Abe would like a "debate" with every Tom, Dick and Taro from the other parties. That will become utterly tedious, but it will suit Abe as there will only be time to mouth a quick platitude before moving on.

1 ( +3 / -2 )

http://uncleandystruthemporium.wordpress.com/2012/11/14/explain-it-you-keynesians-japan-with-a-229-debt-to-gdp-ratio-is-headed-for-another-recession/

http://www.amazon.com/Economics-Second-Edition-Timothy-Tregarthen/dp/1572594187

I am totally oppose Abe's idea. PM Noda -former Finance Minister of Japan is absolutely correct on this issue.

Abe will lead Japan into BUST. I was a very first scholor of economics under Dr. Timothy Tregathren who published a text book of Micro and Macro Economics with Dr. Paul Krugman (Economist) that is still widely used and respected in most US universities. I am now retired from the US public sector.

Former US President Bill Clinton said, "Let's do everything to avoid all mistakes of Japan."

Abe reminds me a guy who maxed out all credit cards and is ready to apply for new credit cards without jobs and revenue. He needs to convince me how his plan will work. Bad idea.

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Abe is a lot more of a politician than Noda who is a honest man. We don't have to take Abe's appeal at a face value. It is a pep talk and it may work.

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SchopenhauerNov. 26, 2012 - 09:26AM JST

Abe is a lot more of a politician than Noda who is a honest man

Your opinion is very subjective. I have an more objective view derived from economics about him. He is ready to send sheep generations of Japan to a slaugher house. Abe is a snake oil salesman.

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Now, if we could all print our own money and force banks to accept it, we would solve all our financial problems and be rich, too. If only this would work.

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He said the BOJ must buy construction bonds from the market to finance infrastructure spending to rev up the economy which is sliding into a recession.

Very scary. Abe could easily lead Japan into a complete economic collapse not just malaise. Taking away the independence of the BOJ is simply fool-hardy. Hell, there have been like five PMs in as many years, is the BOJ supposed to change direction each time a new one comes on board. Abe is truly dangerous in his simplistic thinking.

4 ( +4 / -0 )

Our oceans? The senguku islands are a thousand kilometers from Japan.

Abe's plan of increasing inflation is totally flawed and will hurt the economy even more. They need to promote more spending to get the money out of grandma and grandpa's cupboards and back into circulation. They need to create tax breaks and get that bloody pension mess sorted out ASAP. It is going to take radical thinking and stern measures to rescue the economy. Not the traditional BS that created this kufuffle in the first place.

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gaijintravellerNov. 26, 2012 - 09:50AM JST

Now, if we could all print our own money and force banks to accept it, we would solve all our financial problems and be rich, too. If only this would work.

No, it will make you poorer, not rich. Japan cannot sustain. Japan is heading to bankruptcy.

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Abe is truly dangerous in his simplistic thinking.

Almost as dangerous as the numbskulls who voted him again as their party leader after the mess he made last time (not just the one in the toilet). How anyone could view these LDP people as a potential government in waiting is just totally beyond me.

4 ( +4 / -0 )

If LDP & DPJ keep clashing over monetary policy let BOJ also contest this election :)

-1 ( +1 / -2 )

The remedy is a structurial reform of Japanese society as a whole. Changing it from an export driven economy (over production of manufacturing goods, 'castrating' domestic consumption by limiting and overpricing goods, and life style limitations on the Japanese populace) to a domestically driven economy ( building up a real service economy that serves the people and not just Japan Inc, enforcing work practices that encourage a more life style driven populace, enriching Japanese people by pulling down the fiscal barriers that impoverish them and transtering alarge portion of the wealth from the dankai generation to the younger generation).

Abe is an idiot. He believes that his economic policies have already shown a positive effect by weakening the Yen. A 12 year old could have told him that weakening had a lot to do with the financial markets lack of confidence in Japan's future fiscal health under his government; hardly a positive effect, a very negative effect in my books, and very likely to lead to a future panic where the Yen could head for 240 to the dollar with domestic interest rates of 10%.

I suppose when we get to the Y240 to the dollar, Abe can really feel proud of himself.

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"I saw on the TV what Abe was saying about how he is going to activate this sluggish economy that no remedy works last 20 years

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Abe's theory WILL not jump start growth as Europe (the 2nd exporting market ) is heading to much deeer recession. To be honest, Japan is beynd repair until the marginal sales tax starts kicking in. I blame everything on LDP for that. All they did was the same ole, same ole tricks to issue JGB without tax r hikes. When you have credit cards, you need to pay back..

How do you jump starting a motorcycle when an ignition is dead? Sounds familiar?

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ChamkunNov. 26, 2012 - 12:25PM JST

"I saw on the TV what Abe was saying about how he is going to activate this sluggish economy that no remedy works last 20 years

Abe's solution is like a doctor advising an obese patient to get lung cancer for their weight problem.

1 ( +3 / -2 )

Abe's solution is like a doctor advising an obese patient to get lung cancer for their weight problem.

Hi Dog, This is a good one. I had a belly laugh!!

0 ( +0 / -0 )

some14someNov. 26, 2012 - 12:17PM JST

If LDP & DPJ keep clashing over monetary policy let BOJ also contest this election :)

No, this is a fiscal policy debate.

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DogNov. 26, 2012 - 12:25PM JST

The remedy is a structurial reform of Japanese society as a whole. Changing it from an export driven economy (over production of manufacturing goods, 'castrating' domestic consumption by limiting and overpricing goods, and life style limitations on the Japanese populace) to a domestically driven economy ( building up a real service economy that serves the people and not just Japan Inc, enforcing work practices that encourage a more life style driven populace, enriching Japanese people by pulling down the fiscal barriers that impoverish them and transtering alarge portion of the wealth from the dankai generation to the younger generation).

Exactly, Dog, again you said it well as always. Yey!!

0 ( +0 / -0 )

May be Japan government does not know that constant change in government brings about Economic instability.They have to trust one person and give him or her time to do what he planned to do.As I know them ,even if the elected person is doing it well,some will begins to oppose him immediately.But after Koizumi,who will be the next prime minister of Japan?.,because since then,they have not produce person of their choice.

2 ( +2 / -0 )

http://en.wikipedia.org/wiki/List_of_Prime_Ministers_of_Japan

Who failed Japan to this level since 1989? Japan's GDP/DEBT ratio was still sustainable before 1990.

If you read the web I listed above, you can see they are all LDP PMs including Koizumi. Why are you willing to go back to this failing policy? You've got a solid proof in front of you. Do not go back, move forward with Noda. All bad apples have already left Minshutoo, and Minshutoo is now lean and clean to lead Japan to the right path. Move forward, not back.

3 ( +3 / -0 )

While I think Japan is going to go bankrupt regardless, Abe would bring it a hell of a lot sooner.

0 ( +1 / -1 )

Dog

Abe's solution is like a doctor advising an obese patient to get lung cancer for their weight problem

If that were it and nothing after that, you could be right. But he uses 2% inflation as a just trigger to activate cash flow then few major projects follow after the trigger. So it is not making the patient as lung cancer as you said. Also an over 20 year recession is not just a weight problem. I am not sure if your analogy is good one or not to manifest our problem today. I know it is risky but we must do something.

Disillusioned*

Our oceans? The senguku islands are a thousand kilometers from Japan.

China East coast to Senkaku, 320km From Ishigaki Okinawa 170km. I hope you are not thinking Okinawa is China as some nationalist in China started saying. Once we lose it, they can freely use the sea and between China sea to Hawaii would be theirs as they suggested to US several years ago. Of course the US said NO. US presence in OKINAWA or it is taken by them, the world would be not the same. Also in long run, US Japan treaty should be dissolve into more economic, cultural friendship treaty and Japan should not rely on US as much as we do now. It will take another 20~30 years. It is about time to start to discuss how Japan defend by it self. Japan was spoiled too much till today. We should not jeopardize any American life for the sake of Japan. So Abe has opened this discussion that I like. We were even not discussed this matter since we accepted and promulgated the article #9 since 1946. I am not saying I like re-arming Japan but how we can make sure to protect this nation without other country's risk as much as we can is a healthy discussion.

1 ( +1 / -0 )

Abe's solution is like a doctor advising an obese patient to get lung cancer for their weight problem

If that were it and nothing after that, you could be right. But he uses 2% inflation as a just trigger to activate cash flow then few major projects follow after the trigger. So it is not making the patient as lung cancer as you said. Also an over 20 year recession is not just a weight problem. I am not sure if your analogy is good one or not to manifest our problem today. I know it is risky but we must do something.

You are not getting a concept of critical thinking that should lead you into problem thinking. Bizzaar

0 ( +0 / -0 )

globalwatcherNov. 26, 2012 - 03:15PM JST

move forward with Noda. All bad apples have already left Minshutoo, and Minshutoo is now lean and clean to lead Japan to the right path. Move forward, not back.

While I'm totally cynical about Japanese politics and I have been studying it for 35 years, I agree with the sentiment of trusting Noda, even though he is a MOF drone.

Sadly, 20 years of being a taxpayer in Japan, yet not taking Japanese nationality at the expense of forfeiting a more valued Euro passport, leaves me no voice in this whole debacle called a Japanese national election.

PS. Someday some Japanese is going to explain to me why holding dual nationality, apart from the appearance, makes me less loyal to Japan. Sure, I'm not going to crash a plane into an aircraft carrier for Tenno, but I wouldn't do it for Merkel either and I'd be sorely tempted not to actually do it to Cameron.

1 ( +2 / -1 )

ChamkunNov. 26, 2012 - 09:59PM JST

is not just a weight problem.

It's exactly that and nothing else. Japan manufactures far too much and consumes far too little of what it manufactures. The days of 'the other' consuming Japan's excess are long gone; it really is a weight problem.

The solution to the Japanese weight problem is that people live in bigger houses to consume and have more free time to consume. A three bedroomed house (forget this 3LDK bollocks) needs 4 aircons to be liveable, 3 TVs to be enjoyable and 5 heaters in winter to be comfotable.

How many thousands of 3 bedroomed houses can I build from the money spent on the shinkansen line from Tokyo to Hakodate? How many affordable state built flats for young single people - no more living in the parent's home and once weekly visits to the love hotel, a real relationship!!!! - could I build with the money presently spent on Hokkaido motorways that only the local bears will use? How much.....?

The list could go no and on and on.

What's the solution?

Lose weight.

0 ( +2 / -2 )

What's the solution?

"He said the BOJ must buy construction bonds from the market to finance infrastructure spending to rev up the economy which is sliding into a recession."

Sort of thing needed for individuals to buy "bigger houses" which are only available where there lack public works.

-1 ( +1 / -2 )

Abe is for inflation, Noda does not want inflation but he wants to place an exta 5% on consumption tax that can only be activated if the Japanese economy shows a rise in two years. They are both reading the same script written by MOF. They also share view on TPP and Nuclear power since they share similar sponsorship, LDP is backed by Keidanren and DPJ is supported by the Electric labor union.

The crack would be on the TPP issue since some of the politicians from DPJ is backedup by the agricultural cooperative association and education which Abe is personally right winged while DPJ is backed by the teacher's union which is left winged.

Both are not really thinking anything about the people in general and are only rallying for their cohorts which really makes me sick to the stomach.

0 ( +0 / -0 )

The remedy is a structurial reform of Japanese society as a whole.

That is one of the most pretentious and ridiculous statements I've seen here recently.

And which country would you have it modeled on?

-2 ( +0 / -2 )

That is one of the most pretentious and ridiculous statements I've seen here recently.

And which country would you have it modeled on?

Based on the Wealth of Nation. Consumer Consumption Spending and Investment Spending equal to growth.

-1 ( +0 / -1 )

globalwatcherNov. 29, 2012 - 02:22AM JST

That is one of the most pretentious and ridiculous statements I've seen here recently.

And which country would you have it modeled on?

I should make my statement more bold. Communists do not believe in Consumer Consumption spending. I am sure you may be able to find some books in Japanese on this subject; democracy and capitalism.

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globalwatcher

Are you trying to tell me that Japan is not a nation of consumers?

That is absurd.

Try again.

-2 ( +0 / -2 )

ubikwitNov. 30, 2012 - 01:45AM JST

globalwatcher

Are you trying to tell me that Japan is not a nation of consumers?

That is absurd.

Try again.

No, not enough. The domestic consumption includes quality hospitals, senior homes and list goes on. Hospitals can still purchase most updated technologies. They can still build more senior homes. Some of aging populations are left alone without caretakers. We have more choices in life.

0 ( +0 / -0 )

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