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64% of Japanese unhappy with gov't response to rising prices: poll

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Bank of Japan Governor Haruhiko Kuroda said last week that consumers have become more "tolerant" of price hikes. He was forced to retract the remark and apologize after facing criticism from lawmakers and consumers.

These individuals social circle consists of overpaid bureaucrats, politicians and Keidanren cronies.

So of course as a response to inflation; lavishing corporate welfare subsidies on them would be considered an appropriate response.

"We gave them inflation and a weak yen as we promised. Why are they so unhappy?!".

7 ( +15 / -8 )

Except putting more subsidies on the table, there is not much the government can do are price increase relates too imports. With a lower team, it does not help

The guy has already helped to stabilize the gasoline price.

Whatever the budget, fix a target for spending and saving, then try to keep it

-10 ( +4 / -14 )

get ready for more price hikes and no increases in salaries.

12 ( +17 / -5 )

What would they have the government do, bring in the Marvel gang? Of course, this news is a survey, it’s easy to imagine that the Japanese nation are one entity by reading it, with sad angry eyes at the government, kicking up a tantrum, fo the government just not doing enough about rising prices.

look, no one likes rising prices. That’s the headline.

-7 ( +4 / -11 )

They could lower the 50% fuel tax, stop taxing foods, lower their spending as a show of support for the population? I know never happen they would rather the tax payer eat grass then suffer any discomfort.

9 ( +13 / -4 )

 response to rising prices to be inadequate came to 64.1 percent, while 28.1 percent said it is satisfactory, a Kyodo News survey showed Monday.

Just keep increasing price more so people 28.1 percent of people in Japan will satisfied more.

-6 ( +1 / -7 )

Since Kuroda became BOJ governor in 2013, the bank has set a 2 percent inflation target and undertaken an ultraloose monetary policy.

When they started, Kuroda and Abe set out this 2% inflation target within 2years as part of infamous Abenomics 3-arrow strategy. And when it was apparent that they will not reach this deadline, they moved their self impose target. 9+ years hence, Abe is gone and Kuroda still holding on to his position. The prices are finally rising but for all the wrong reasons and people are feeling the crunch.

Why is this Kuroda still here? He should have been gone the first 2years he failed to meet his deadline.

3 ( +8 / -5 )

repost due to typos

Except putting more subsidies on the table, there is not much the government can do as the price increase relates to imports. With a lower yen, it does not help

The government has already helped to stabilize the gasoline price. 

Whatever your budget, fix a target for spending and saving, then try to keep it

-10 ( +0 / -10 )

Print more money pursuing less goods and you have a recipe for hyperinflation. JP Morgan’s and Vanguard's CEO said that inflation will go on for years. This rising prices will go to such extent at the seven year tribulation when a day’s wage can only buy a single meal. The filthy rich elites will not suffer but only the poor.

Revelation 6

[5] And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand. [6] And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.

-5 ( +3 / -8 )

Kuroda seems to be completely out of touch with the reality of the people with his comment. The rising prices may be necessary according to the situation, but that does not mean a lot of people had their standards of living decreased or are now in a desperate situation. Saying they are now more "tolerant" indicate he considered this is something they could just take without difficulty if they were just more accepting, which obviously makes no sense.

4 ( +7 / -3 )

Yet, another landslide for LDP is in the bag. Just look at Kishida's approval rating. I wonder what makes the people approve of this government when they are simultaneously unhappy with their abysmal record on the economy.

3 ( +10 / -7 )

64% of Japanese unhappy with gov't response to rising prices: poll

so what? Its not like ANYTHING will change, so who cares?

-5 ( +8 / -13 )

64% of Japanese unhappy with gov't response to rising prices: poll

Maybe people are waking up to the fact that these old boys they keep voting for don't have much of a clue how to do anything.

8 ( +10 / -2 )

while 28.1 percent said it is satisfactory

idk which is worse, the inept government or the clowns that support their actions.

4 ( +10 / -6 )

Complaining is easy, but obviously investing a minute to think about it seems to be an extremely difficult task. What do you think a government can do about this? Almost nothing. The prices are set in the markets, locally and globally, in the economy so to say, not in a prime minister’s office. And if the taxes are lowered, which are still quite low compared to many other countries, which means the lowering effect wouldn’t be such si, then the state has even more long term debts and less incoming money for other important measures , also many of them bringing social benefits or supporting social security and welfare, education, child care etc, and you would again start to complain even much louder and about much more, if then significant cuts would become necessary there in all other fields.

-9 ( +2 / -11 )

Is the same percentage happy with the government response to Covid, the border closing, the overly rigid immigration approach? If so then stop complaining. It all goes hand in hand.

If Japan would open the border and change their bond strategy foreign investment would increase which would help offset inflation. Instead they want your groups and masks. Go figure.

-4 ( +5 / -9 )

But in reality 95% are unhappy with rising prices

0 ( +6 / -6 )

Bank of Japan Governor Haruhiko Kuroda said last week that consumers have become more "tolerant" of price hikes. He was forced to retract the remark and apologize after facing criticism from lawmakers and consumers.

This tolerance is what people wanted. The 自民党 has been saying for many many years the need to rise prices, they are finally delivering on their promise,

64% of Japanese unhappy with gov't response to rising prices: poll

You voted for the party of a weakened yen, the party for higher inflation, higher prices, and no alternative but higher 消費税、they are doing what they said they will do. Dont like it, way do you keep voting for the same policy over and over agai?

2 ( +5 / -3 )

At least petrol is not ¥260 a liter like in Europe.

We need to trade with Russia and China.

-4 ( +4 / -8 )

They're unhappy about it but will they take any affirmative action to get the government to do something about it? Doubtful.

-4 ( +4 / -8 )

Taxing food is the obvious error to correct here.

Some of the rest is just choosing your poison. The yen is falling against the currency oil and foodstuffs are priced in because of the Fed pushing up interest rates to strangle the surge in post-Covid demand seen as causing inflation. If Japan pushes up interest rates, it'll be loans that cost more, not prices at the pump and in the supermarket. The country already spends something like 30% of tax revenue on servicing the national debt, so there's not a lot of leeway there.

1 ( +2 / -1 )

"Let them eat cake" said Kuroda, Takenaka and Kishida.

4 ( +7 / -3 )

It was followed by 9.9 percent for the opposition Japan Innovation Party

That’s a big poll. The only remotely reformist party, at almost 10 percent and in second place by a whisker.

People are slowly coming to realize that more government spending, more government regulation, more more more government is not the solution, I believe.

The inflation disaster brought on by crazy spending policies globally is going to take its toll on the politicians that support that.

-2 ( +1 / -3 )

What would they have the government do, bring in the Marvel gang?

Step 1: Stop subsidizing every oil wholesaler, farmer, hotel owner, construction company and ad agency under the Rising Sun and start subsidizing the working people to deal with inflation and associated economic woes.

3 ( +4 / -1 )

What do you think a government can do about this? Almost nothing. The prices are set in the markets, locally and globally, in the economy so to say, not in a prime minister’s office.

Prices are set by markets in many cases yes, but those prices are denominated in currencies that are being managed in a very cavalier fashion by the authorities.

The great Nobel prize winner Milton Friedman taught us about inflation (a general rise in prices across the board) :

Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.

Milton also taught us the cure for inflation.

The problem was historically that politicians would find it difficult to get themselves re-elected by taking the necessary measures.

But there have been exceptions.

The authorities need to stop messing with the quantity of money such as by reining in the huge deficit spending, and also enact output boosting policies.

This implies a dispersion of centralized power and control, which the central planners would hate, but if the voters want to try this route again there choice is there.

I expect Japan will be a follower here, as ever, but hopefully we can get with the program soon, and look forward to a brighter future thereafter.

And if the taxes are lowered, which are still quite low compared to many other countries,

Well, Japan is decades behind the game here too. Take inheritance tax. In various places from Europe to Oceania, the inheritance tax has been abolished, and for good reason. Not in Japan. So in Japan, instead of thinking about how to make best use of one’s money, many people are busy thinking about how best to avoid giving huge chunks of that money to the government. It’s a lose-lose policy.

A big simplification of Japan’s taxes is certainly possible, with likely positive impacts for economic growth which is a tide that lifts everyone’s boat.

many of them bringing social benefits or supporting social security and welfare, education, child care etc,

The bulk of Japan’s spending is on the social security and welfare areas, and that alone isn’t covered by tax revenues, which are said to be at record levels.

Reforms to these programs to get better value for money is essential.

-1 ( +3 / -4 )

Well then stop voting for the LDP. Absolutely no sympathy for these people.

-1 ( +6 / -7 )

64% of Japanese unhappy with gov't response to rising prices - poll:

Doubtlessly. At the current trend, inflation would go on shooting up worldwide.

In fact, World Bank is painting a very negative picture for global nonstop-able inflating economy, using Ukraine war as the wrong excuse.

2 ( +4 / -2 )

The disapproval rating for the cabinet rose 5.1 points to 26.9 percent.

This right here is the sole reason why Japan will never change unless we change generations. The telephone survey was likely conducted with over half the correspondents being retired elders who have ample time to answer phone calls during the day. They don't see a problem with the cabinet, yet they are starting to disapprove of the current Prime Minister. The cabinet has more to do with this mess we are in compared to just one single man.

2 ( +4 / -2 )

Great news 36% of Japanese people are happy with one in five Osaka children having no lunch. Teenage girls staying away from school when they mensurate because their families can’t afford sanitary pads.

2 ( +6 / -4 )

The great Nobel prize winner Milton Friedman taught us about inflation (a general rise in prices across the board)

And the more recent and greater Nobel Prize winner in economics, Thomas Piketty has said:

We want capitalism and market forces to be the slave of democracy rather than the opposite.

In Japan now with the LDP it is the exact opposite. The LDP serves the interests of corporations with a laser focus on corporate welfare, socialism for the rich.

1 ( +2 / -1 )

The proportion of Japanese who consider Prime Minister Fumio Kishida's response to rising prices to be inadequate came to 64.1 percent, while 28.1 percent said it is satisfactory, a Kyodo News survey showed Monday.

But they still keep voting them,the old LDP is unbreakable no matter what.

I put the blame on the voters,but they prefer keep these old corrupted elements rather than change.

-1 ( +3 / -4 )

64% understands that gov doing virtually nothing.

no cheaper tax for fuels,no zero VAT for basic food,no support for families with kids.nothing.

1 ( +3 / -2 )

I don't understand this dissatisfaction by people.

Do they really don't understand what is happening around them?

Do they understand that Japanese debt to GDP is at 266%?

What to expect is further tax hikes and devaluation of the yen.

Happy printings days are over, changing the government won't help that much.

We need someone with a vision for the future.

-3 ( +4 / -7 )

The proportion of Japanese who consider Prime Minister Fumio Kishida's response to rising prices to be inadequate came to 64.1 percent,"

Of course the same "dissatisfied voters will still dully re-elect the same LDP deadwood at the summer election.

Beyond help.

-4 ( +1 / -5 )

At least petrol is not ¥260 a liter like in Europe.

We need to trade with Russia and China

Russia, yes. For oil.

China, no. They are simply a source of cheap labour that undercuts domestic wages.

0 ( +0 / -0 )

So many complains from people here. Japan is not bad compared with Europe or USA. If you complain just go back where you from and complain about the price increase there.

-3 ( +0 / -3 )

@Simon Foston Do you think removing the "old boys" would make a difference in most Japanese lifestyles. If you really understand the mindset of the younger generation today and if they were in control Japan would be far worse off. You need hardliners instead of internet politician if not China and NK would definitely be in Japans backyard. Now to ask you a question do you really think the so called Younger gen have a clue on how to get things done? If what I have been witnessing and reading for myself they are not interested in politics and because of this, you get the older generation who are in tuned to the world. Those are the individual who keep voting for the parties, they vote the younger gen could care less they are only interested in social media, fashion and having fun!

64% of Japanese unhappy with gov't response to rising prices: poll

Maybe people are waking up to the fact that these old boys they keep voting for don't have much of a clue how to do anything.

0 ( +0 / -0 )

Thomas Piketty has said:

We want capitalism and market forces to be the slave of democracy rather than the opposite.

Ugh, no thanks.

If I work and someone pays me money, and I then go and do something with that money… it is mine, right? It ought be subject to what I want to do with it, having earned it - not what a bunch of other people think, even if they decided by majority what should happen to my money.

Free market capitalism is the natural state of human affairs. People mutually cooperating together for mutually beneficial aims. Not the aims of governments elected by majority, reaching well beyond their appropriate remit

1 ( +1 / -0 )

As much as the yen has dropped already this year, get out of the yen now while you still have some value left.

-1 ( +0 / -1 )

How does the LDP stay in power ?

It appears the Japanese public are too easily taken advantage of and don't exercise their constitutional rights.

The approval rating surveys are bogus !

What has your government done with all your taxes.

Oh and there's a new environment protection tax coming we will all need to pay.

-2 ( +0 / -2 )

The public and the writer of this article need to be told that Kuroda and the BoJ and are not part of the govt.

Anyway, inflation here isn't nearly as high as it is in other developed countries.

0 ( +0 / -0 )

kaimycahlJune 14  09:42 pm JST

@Simon Foston Do you think removing the "old boys" would make a difference in most Japanese lifestyles. If you really understand the mindset of the younger generation today and if they were in control Japan would be far worse off. You need hardliners instead of internet politician if not China and NK would definitely be in Japans backyard.

This article is about discontent with rising prices. The international situation is immaterial but I think if the LDP didn't have American back-up they would all be cosying up to the Chinese and North Koreans. It's easy to be a hardliner when you don't really need to stand up for yourself.

Now to ask you a question do you really think the so called Younger gen have a clue on how to get things done?

I have no idea, they don't get much of a chance to show what they can do.

If what I have been witnessing and reading for myself they are not interested in politics and because of this, you get the older generation who are in tuned to the world.

Tuned into the world? Like that cabinet minister for cyber-security in the Abe administration who never used computers?

Those are the individual who keep voting for the parties, they vote the younger gen could care less they are only interested in social media, fashion and having fun!

The government still has to govern for everyone, but it patently only caters to its own supporters while deliberately maintainting a status quo that keeps younger people disinterested, disenfranchised and overlooked. Why would younger people be interested in politics anyway? In Japan it's virtually impossible to forge any sort of successful career as a politician unless you're old, rich, a member of the LDP, or young and the son of a member of the LDP.

0 ( +0 / -0 )

Kyo wa heiwa dayo neToday  06:05 am JST

How does the LDP stay in power ?

They seem to have a few tricks up their sleeves. First, maintaining the urban-rural vote value disparity that favours their supporters in depopulated rural areas. Second, pork barrel spending in those over-represented rural areas. Third, exploiting loopholes in the political funds control law to amass huge campaign warchests whilst ensuring that running for office is cripplingly expensive for anyone else, including major opposition parties. Fourth, a first-past-the-post election system that allows candidates that most people didn't vote for to get elected, or get elected on the party PR ticket.

Cheating, in other words.

1 ( +1 / -0 )

Jeff

Really? You may technically be right, but BoJ has done the governments bidding for decades now.

And it's ok because Japan inflation is below (say) the US and EU?

and even thought we are now well 0over 2% BoJ continues with the same ludicrous policies, including now yield curve control?

This is sheer lunacy. Hence the yen plummeting, with more to go.

0 ( +0 / -0 )

Rising prices of commodities will continue for years to come according to JP Morgan’s and Vanguard’s CEOs. By the time a day’s wage can only buy a meal, you know that you have been left behind at the rapture and are in the seven year tribulation.

0 ( +0 / -0 )

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