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Private-sector advisers to Abe call for massive economic stimulus measures

29 Comments
By Tetsushi Kajimoto and Daniel Leussink

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29 Comments
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Seems painfully obvious that the media (mouthpiece of LDP) changed their rhetoric.

When the Olympics were on it was “calm but alert” and now that its off, literally the day after, Koike began calling for a state of emergency.

Is this heightened sense a backup plan to say that they did do all that they could?

Anyways its good that the big companies are always in with big government and are sooo rich that now in crisis time they have to focus on giving all the cash back to small businesses and they can afford it too.

12 ( +15 / -3 )

Yes, we are in for a long dark economic downturn. I have nightmares, literally, about paying everyone's wages. I do hope that these countermeasures are effective in speeding the economy back when all this is over!

11 ( +11 / -0 )

since they just raised taxes last year I am sure they have some money available, if they haven't lost it already...

12 ( +12 / -0 )

The money should already be on its way to the people of Japan!

Small businesses and zero hours contract staff are hemorrhaging right now.

This month will be especially difficult for me...

13 ( +13 / -0 )

What happened to all those massive piles of cash the corporations are sitting on? The record profits we were told they're making?

I have nightmares, literally, about paying everyone's wages.

Could you pay mine first? Thank you very much.

15 ( +15 / -0 )

The money should already be on its way to the people of Japan!

Yeah quick to raise taxes but when people need stuff its meetings and considerations.. Hope they have not lost all the taxes they collect like they LOST EVERYONE'S PENSION MONEY

10 ( +11 / -1 )

Dango, the pension money is fine. I get mine bimonthly.

-6 ( +0 / -6 )

I'm going to pay my rent with a fish coupon, my beef coupon well that's reserved for paying my tax.

11 ( +11 / -0 )

So my wife and I have a savings that we could live on for a few months. Not a hell of a lot though. Because the government still hasn't come out with any stimulus payout, I feel obligated to go out and meet my private students to survive. When will this government do something constructive for once. I have already heard of many losing their jobs recently, and that's just within my circle of friends.

8 ( +8 / -0 )

Time to get the printing press cranked right up. Lets just hope not all of it ends up in the hands of big business.

4 ( +5 / -1 )

Dango, the pension money is fine. I get mine bimonthly.

I was referring to a few years back when the incompetent government list over half the money for pensioners. Were you getting it then?

2 ( +3 / -1 )

Very few of the SMEs (Small/ Medium sized Enterprises) that make up a large part (60-70%) of the Japan economy will be able to afford more than 3-4 months of staff wages, overheads, compulsory payments, with zero income coming. Cash flow reserves will dry up. A 6-7 person small business such as a shop, media company, workshop, import agency, or restaurant will need income of around 1.5-2.0 Million Yen each month just to cover these costs. Once this goes, staff are released, the business dies, and in turn they can't pay their rent, mortgages, loans, food, utilities and other daily necessities. There is a huge ripple effect. Any support must be delivered within the next 3 months,

5 ( +7 / -2 )

abe spoke of one of payments for families...

all talk and no action unless it supports the rich corporations..

typical abe..no idea what the working people have to suffer.

5 ( +5 / -0 )

one off that should read

1 ( +1 / -0 )

Dan,

you took the words out of my mouth!

Worried about the economy,

worried about companies,

worried about his money,

NOT worried about the working people.

8 ( +8 / -0 )

Yeah I have that feeling that big unemployment is coming up.

If you don't have job or you lost it you still have to pay nenkin! So I'm just curious before I lose my job is government going to help??

Kurisupisu Im sorry to hear that you are in difficult situation but it's not going to be any better, just worst for all of us.

5 ( +6 / -1 )

I "like" how these articles call these people advisers instead lobbyists or oligarch representatives, which are closer to the truth in reality.

7 ( +7 / -0 )

Many Japanese people are waiting, postponing non essential events such as meetings, ceremonies, foreign trips etc.

High profile deaths have shocked many people.

Suddenly, the virus has become a disturbing influence that everybody from television stars and sports stars to university students can get.

This week will see a big change in social behavior...

4 ( +4 / -0 )

As much as I love Japan, I do wish I was back in New Zealand. I just had a family zoom meeting. All of my family are at home. All working adults get ¥600,000 from the government + their companies are required to pay 80% of their salary if possible. If not, the government will support the company. They are not worried about income. Because they trust in the government's desire to look after them. They simply focus on keeping their families safe. They asked me what Japan was like and boy I had a story to tell. No one knows what will happen. No one knows what support will be available. We still have to work, even though we might get sick. It's an absolute joke.

13 ( +14 / -1 )

Engrained in this society amongst the older generation was to put money aside for a rainy day and not just buy things because your neighbors or friends had them.

that is not the case for most western societies. It was spend spend spend. You can’t eat the top of the line iPhone, an 80 inch tv nor a BMW, etc.

my kids never learned that either do to a divorce, and when they started working I was not there to teach them how to save.

Anyway, I got them covered and my ex. Who was great at raiding the bank account without me knowing it can take care of my middle handicapped daughter. I will take care of the other two.

I feel sorry for young families that just bought homes. Will the banks give them a break? Renters cannot be kicked out. Are there food banks? Will people raid the big boxes in parks meant for a giant earthquake? What if we get a giant earthquake?

I do blame this all on Abe wanting to wear that dumb Mario suit, and all the other world leaders that shrugged it off. It seems like only Singapore and New Zealand acted correctly and quickly.

4 ( +5 / -1 )

When is Abe going to man up and address the nation?

9 ( +10 / -1 )

G20 nations are mostly like going to face a downturn and a recession in the next 12 months. Does Abe think think this kingyo sukui - goldfish scooping approach of his is going to make Japan the only economy thriving while the rest of the world struggles?

3 ( +3 / -0 )

Endless Money printing

1 ( +1 / -0 )

I have already heard of many losing their jobs recently, and that's just within my circle of friends.

The land of mystery, unemployment will still be very low.

I always thought the ccp was in a class of its own, how mistaken I was.

2 ( +3 / -1 )

Too little too late. When will Japan learn ???.

0 ( +1 / -1 )

The number one goal of the government should be to take care of coronavirus related problems. As important as is the economy, keeping people alive should be the primary task.

2 ( +2 / -0 )

Who is "private sector"?

Is "private sector" the well connected and the lobbyists at Nagatacho?

0 ( +0 / -0 )

Good thing that complaining about the Japanese government - the highest political institution in the country - and its response to the Coronavirus - an act of the institution based on a myriad of political considerations - isn't political. Otherwise lots of people in this thread would be in trouble. But politics isn't political, it seems.

1 ( +1 / -0 )

Pls check carefully, not all business in Japan was bad before corona V. Some japanese company just used Corova V as an excuse to exporting countries due to their own incompetences of people running the business. Japan fiscal year is from 1st April to March every year. The business year is decided by the sales of Sept, Oct, Nov and Dec of each year. Corona v started on 24th Jan , the eve of Chinese New Year 2020. Therefore, pls becareful in granting loans.

-1 ( +0 / -1 )

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