Japan enacts record ¥101 tril budget for FY2019

A steady rise in government spending -- the initial budget has marked record highs for the past seven years -- means Japan remains far from consolidating its battered fiscal health despite an increase in tax revenue.

Everything else in this article is trivial compared to the above statement. This means, in the eight years of Abenomics the economy is actually worse. They are taking more in taxes and have done nothing with it, except spend it on themselves.

And, of course, there is no mention of addressing the the child and aged care crisis or stimulus to get women back into the workforce. This loser is a complete fraud and it is beyond me how he keeps his position.

This means, in the eight years of Abenomics the economy is actually worse. They are taking more in taxes and have done nothing with it, except spend it on themselves.

They've spaffed it up the wall, as Boris Johnson would say.

This loser is a complete fraud and it is beyond me how he keeps his position.

The US State Department, Keidanren, Nippon Kaigi and most of the Japanese media support him. He's a loser, but a winner in their eyes.

Great photo.

It should have the caption,'We really don't know WTF we are doing,but we and our cronies are getting super rich bankrupting this once great nation while the plebs either don't care or are too busy to care.'

Long caption.....lol!

@JeffLee

What you say is partially true. However, past performances are not indicative of future results.

1) The Japanese yen should be getting stronger during these particular moments and it hasn’t.

2) The Chinese yuan is become a lot more liquid.

3) The BOJ has been selling a lot of Japanese debt overseas while the Pension fund has been focusing more on overseas investments as opposed to local investments.

Combine those things with the recent 43% fall in the current account, which is still at a big surplus, and you have the makings of a dangerous debt crisis.

stimulus measures to buoy the economy after an upcoming consumption tax hike

Cripple the economy first by raising taxes and then pump taxpayers' money back into it to absorb the negative effects of the tax increases. Create a problem and offer the solution.

This loser is a complete fraud and it is beyond me how he keeps his position.

His mate controls the public broadcaster and much of the voting constituency watch NHK and love the LDP.

They aren'T too worried about 15 yrs down the line as long as they can see nice pictures of cherry blossoms and the royal family on the news. It's paradise!

Record debt? Wish I could run my house like this. Sorry gotta go premium cup noodles are ready.

I love how they claim they need the tax hike because there's no money when already part of this RECORD spending package is to bolster the economy in anticipation of a drop in sales after the tax is hiked, and of course the fact that people like Abe want to take us back down the path to war by ramping up the military. And I wonder how much of this is going into social welfare programs designed to help with the upcoming surge in addiction, poverty, crime, and social unrest that will result from the money pits that are the casinos we also "need" on top of the international sporting events.

That's right, these old fogies BETTER bow, because the future will never, ever forgive them.

I’m reminded of getting casino chips in exchange for my. cash....

While Japan is no Greece the population decline makes for a bad thump later no? The debt isn't declining so the share of it increases per person. That can be paid off apparently since it's all in house but at some point there is a line and that must have been passed by now. I guess they just forgive it from themselves

The lighter your suit color the bigger your slice of the pie I guess?

And Shinzos legacy is now set, massive debt! Good job thankfully he is Barron has nothing to actually pass on to offspring. Just a massive debt to to those who mistakenly thought there was a future for their offspring. Just reevaluated my selfishness level after 5 years of the Shinz.

That's how it goes if you just keep printing money.  Whatever people say about this being owned domestically and Yen being safe haven currency, this can only end badly.

2019 Japanese government finance highlight

Budget : 101 trillion yen

Tax Collection : 62 trillion yen

New Bond Issue : 32.66 trillion yen

This is not sustainable, maybe I should open a Yen forex account to short Yen when the bond default happens.

And 30% of 101 trillion yen budget goes to debt service, leaving only 70 trillion yen to actually run a government.

Cricky:

Unlike the govt, when you raise your debt through credit cards, collectors call if not paid on time.

I don't think the prime minister gets nasty collection calls from the central banks of japan, US, China, etc.

What's with the single-button grey suits? Is the "I am the Gundam of the LDP" dressage?

stimulus measures to buoy the economy after an upcoming consumption tax hike.

We're dealing with educated idiots here.

Start up the printing presses in The Diet's basement.

Japan's fiscal health is the worst among major industrialized economies...,

Actually it's really good. Fiscal debt doesnt mean much when you own that debt and pay it with your own currency, which happens to be the world's safe-haven currency. Not to mention zero interest rates, which you can control, strong current account, and so on.

Italy, Spain, Greece have bad - or vulnerable - fiscal situations. Japan doesn't.

This budget is much more than any budgets during the war times. Be careful about your loved ones, life insurance price will go up.

a record 62.50 trillion yen in tax revenue 

lol, it’s about the same as spending levels 30 years ago.

hopefully Japan won’t collapse too badly, but I am ready in case it does.

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Japan along with China and USA remain the strongest world economies.

If any of these collapse - if for instance Chinae pulls it money from US bonds or Japan does - it will cause a catastrophic domino effect throughout the world.

Germany -which is the hub of European economic health - is wobbly so we really ought to hope and pray that especially Japan and USA hold strong.

Trump's MAGA policies have shored up the American economy for the short run - but isolationist policies do not have long term viability.

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