The 2016/17 budget marks a key step in the government’s plan to balance the primary budget, excluding new bond sales and debt servicing, by the fiscal year that ends in March 2021.
Japan long timers probably remember when the Koizumi administration was aiming to balance the budget in... wait for it, 2010. Of course the 2008 financial crisis screw up their plans. Expect the same kind of BS excuses(slowdown in China etc.) in 5 years when they aim to balance the budget in 2030.
1 ( +1 / -0 )
They send their smartphones(designed in California, made in China) and computer software over by the millions, and what do we do? When was the last time you saw a Japanese smartphone or a Japanese operating system in New York? It doesn't exist, folks. They beat us all the time.
10 ( +12 / -2 )
I can believe the jobless rate is a record lows and employers are having a hard time finding people. I work part-time at a hotel and they are offering us 30000 yen every time we sponsor someone to get a job there. Of course, we're talking about 1000yen/hour work here. Our contract also clearly said that as part-time workers, we will never get a raise thus the low inflation!
0 ( +0 / -0 )
For those who want to know more, they made a nice documentary about life as a male Japanese porn star called "The other side of sex ( セックスの向こう側 AV男優という生き方 ) ". Shimiken is in it and other familiar faces for those of you who watch J-porn.
セックス セックスの向こう側 AV男優という生き方
4 ( +4 / -0 )
Always creating new problems instead of solving existing ones. How about asking for a credit card number when booking and charge for the meal even if the person doesn't show up? If charging for the whole meal is too much, how about charging for half of it? Why can't people be creative? If the Japanese customers ALWAYS show up, they shouldn't mind giving their credit card number. Having reservation rules is all right, but refusing some customers because of nationality sounds like bad business to me...
18 ( +18 / -0 )
Some other countries and regions, Taiwan for example have opened their market to foreign rice and some Taiwanese still prefer to buy Taiwanese rice but at least it is their own choice. Japanese rice is not as expensive as it was, I see 10kg for 2000yen at Seiyu and some other rice shops. Sure you might get American rice at 1000yen for 10kg but if Japanese rice is that good, customers will pay the additional 1000yen for it. Personally I'll buy american rice, give me the choice. I hope the Americans will stand up to Japan.
9 ( +11 / -2 )
The majority of companies are either not raising or lowering wages. This is a publicity stunt as the majority of people work for small and medium-sized companies. Ask how many people earning 1000 yen an hour are getting raises...
Source : Someone very familiar with the situation working at HelloWork told me wages are NOT rising. None of the Keidanren companies will go through HelloWork to recruit but most smaller, lesser known firms do.
1 ( +3 / -2 )
Here in Tokyo my electricity bills have gone up a lot since 3/11. I can, however, live with that. They can review these reactors all they want, no need to restart the nukes!
2 ( +4 / -2 )
Annual labor negotiations wrapped up last month with larger-than-usual wage increases for union employees of many of the largest companies, but overall they account for a minor share of the workforce, and incomes have continued to fall over the past several years.
I was at HelloWork yesterday and the lady told me these wage increases are only for a small percentage of Japan's workforce. Virtually all small and medium-size businesses are LOWERING wages. Look at the headline, "Businesses wary", you don't raise wages when you are wary about the future.
5 ( +5 / -0 )
It's pretty amazing that some people are wondering if she should resign or not for kissing a colleague, something that has nothing to do with her performance as a vice minister.
9 ( +10 / -1 )
Updated numbers today show that the Japanese economy grew 0% in 2014. That makes me wonder what is it that they have turned around.
5 ( +5 / -0 )
Estimates for 4th quarter GDP growth was originally 3.6%, then we got a disappointing 2.2% number last month, today it is revised to 1.5%, really?? From 3.6% to 1.5%, I am amazed people are still believe in Abenomics.
3 ( +4 / -1 )
She was really hot in "Cutie Honey". Wish her the best.
2 ( +4 / -2 )
Meanwhile Apple announces amazing iPhone sales across all markets! Even the mighty Samsung has seen its market share taken by Apple on the high-end and low-cost Chinese makers on the low end. Sony will be out of the smartphone business before long...
3 ( +4 / -1 )
Surely a step in the right direction. I can't tell the difference between Japanese rice and Californian rice. I won't buy Japanese rice anymore if I can buy Californian rice. My guess is that if these "tens of thousands" of tonnes of rice are offered to the public(as opposed to being all bought by the Japanese government) most customers will go for US rice. In Canada the same amount of Californian rice goes for a third of the price of Japanese rice in Tokyo. Worse case, US rice will be at least half the price of Japanese rice in Tokyo's supermarkets.
4 ( +5 / -1 )
The one at the Eaton Center in Toronto has already been closed. I remember going there a few years ago, the Apple Store was packed with people and there were about 2 customers and 3-4 salesperson in the Sony store. We won't miss you Sony. Apple, the Koreans and Chinese will supply Canadians with high quality products for years to come...
0 ( +0 / -0 )
For those with a passport of a country that has an agreement with Japan, you can pay into your country's pension fund instead of Japan's.
I really worry about people in their 30s and 40s now. Will there be any money left for them when they're old?
The Japan pension system is a ponzi scheme, there are less and less people at the bottom of the ladder, eventually the system will collapse. As usual, the solutions are not discussed in this election. Bringing in young immigrants would increase the number of people paying in the system thus making it viable.
3 ( +6 / -3 )
The yen weakened further after the reading with the dollar at 118.21 yen against 117.74 yen in London on Thursday. Links? Names?
Goldman forecasts 130 by the end of next year, some more aggressive forecasts give 140 at the end of 2015. I think it's pretty much a sure thing that it'll be above 150 when Abe leaves office in 4 years. Some other lackluster economic data that wasn't mentioned in the article is exports not picking up. Sure there's been an increase in October but it's probably just an outlier, not the start of a new trend. Indeed a gloomy picture for Abe.
2 ( +3 / -1 )
Just to maintain inflation around 1% the yen needs to decrease around 10% against the US$ EVERY year. After the election Abe and friends(read Kuroda) should be in charge for another 4 years. Expect the yen to drop to at least 150 at the end of Abe's term. In other words, in 2018 the yen will be at 150 or higher, sales tax at 10%, inflation at 1% with little or no wage growth, indeed a gloomy picture for anyone living in Japan!
8 ( +9 / -1 )
Give the guy some credit, at least he's proposing an alternative to Abe and the LDP. Better have a choice of 2 dirty shirts than just one.
7 ( +9 / -2 )
I remember 2 years ago when the cheaper yen was supposed to save the day. All of Japan's problems were due to the weak yen, that's basically what Abenomics has been, quick devaluation to boost exports and kickstart the economy. The result of Abenomics on salaries is mind-blowing. With the weaker yen, a job in the U.S/Canada pays about 50% more than a similar job in Japan. Abenomics might eventually kick Japan out of the club of developed nations when average salaries in North America become twice those in Japan.
35 importing firms went bankrupt in August, as did 52 more in September.
The yen is almost 113 as I write this, 115 is in sight. Abenomics is destroying Japanese citizens' buying power. More bankruptcies on the way...
12 ( +14 / -2 )
Look no further than the Apple Store to see the "blessing" of a weak yen. The prices for iPhone 6s are up significantly compared to the iPhone 4/4S a few years ago. Yet the price in US$ for those new iPhones are no more expensive than the previous iPhones.
0 ( +2 / -2 )
Search this article for : immigration, result : not found
15 ( +24 / -9 )
Posted in: There are cases in Japan in which people are discriminated against, or refused work or marriage because they are Korean residents. We encourage people to come and consult us, no matter how small the m See in context
A very good start would be to change this headline to "because they are Japanese of Korean origin". Also replace "Koreans in Japan" by Korean-Japanese.
1 ( +2 / -1 )
Abe's Third Arrow growth strategy seems to me like a dart not an arrow, said Naoki Iizuka, an economist at Citigroup Global Markets Japan. I hope he will come up with bolder plans ahead.
More like a needle. The only thing I see is the corporate tax cut. Raise the number of highly skilled foreign workers, really? It's not hard to get an Engineer's visa in Japan in you have a job, nothing new here. The lifetime employment system is left untouched. As I have said before, unless there is a bond crash, yen goes up to 200 or some other kind of catastrophe, the "real" third arrow won't be fired anytime soon.
3 ( +3 / -0 )
Posted in: According to a survey by the Sanno Institute of Management, 76.3% of new recruits in Japan -- the highest figure since 1994 -- are eager to stay at their companies until their retirement age. The life See in context
Anyone who has worked in a Japanese company knows that the lifetime employment system is a cancer that Japan must get rid off. We've all seen the oji-sans in their 50s, doing nothing but taking part in endless meetings all day. The day they turn 60 they are forced to retire after being useless for years.
6 ( +6 / -0 )
Posted in: Many regions are not realizing the benefit of Abenomics and the impact of the falling population and aging is appearing. We need the growth strategy to spread to regional economies. See in context
Whatever they come up with, don't expect to see the word "immigration" in this growth strategy.
3 ( +3 / -0 )