The money will run out soon, and people will have to work those low-paying jobs or go homeless. We just have to wait.
By "we" I presume you count yourself among among this economic elite who want to use the forces of coercion and raw need to force people to do jobs that earn wages that cannot support a minimal standard of living in most places.
Life sucks for most people. I know. But having billions of people working low wage jobs is better than Weimar-style hyper inflation crash that'll discourage top talent from working hard and keeping society running
The "job creator" myth. I would say that a large group of high earners, especially in the financial sector, are a drag upon society (see bailouts). During the pandemic we were witness to which workers were "essential" (nurses, service staff) and they are woefully underpaid. Elon Musk, despite his family emerald mine beginnings, I will give you is benefiting society in several ways overall.
People need to stop being arrogant and greedy. You are paid what you are worth.
It is workers being greedy? The post above yours shows the vast gaps in earnings. Many are paid far in excess of their worth, in the article we have a few exhibits like JP Morgan Chase execs and former president and multiple bankrupt Donald Trump.
2 ( +3 / -1 )
False. The cause of Japan’s deficits is the public spending programs,
Care to break down what is meant by "public spending programs". Pensions ,education? With all this largesse being spent on the public living standards should have been rising then? Yet the converse is the case..
Just look at US corporate tax revenues announced this past month. They are up, not down, despite the corporate rate being cut from where it was down to 21%.
Correlation does not equal causation. A post-pandemic bounce in economic activity is more probable.
The Trump corporate tax cut has been a nightmare for the budget and the public of the US.
1 ( +3 / -2 )
(The nuts of Reiwa shinsengumi are calling for more bond issuing, not less - doubling down on the proven failure of LDP mismanagement is crazy if not deliberate attempt to buy votes from the gullible).
Conflating using the device of MMT for raising the living standards of the populace versus QE and deficit spending to finance crony construction projects and prop up bankers and the stock market is a common tactic.
That's right, the deficit cannot be paid back. But Reiwa Shinsengumi points out those same financial devices which benefited exclusively bankers and corporate execs can also be used to benefit the livelihoods of the populace as a whole.
-1 ( +1 / -2 )
Yano stressed his opposition to pandemic relief proposals, dedicating a significant part of his contribution to casting doubt on the touted benefits of a consumption tax cut and cash handouts -- ideas popular among the public.
Fiscal hawks like Yano always call for austerity and the public to shoulder the burden for shortfalls and corporate rapaciousness. But money is always to be found for a fiscal stimulus, banker bailout and corporate tax cuts (Abenomics). It is always when the subject of consumption tax cuts or direct relief to the public comes up when they start bleating in unison "How are we going to pay for it?;How are we going to pay for it?"
-1 ( +2 / -3 )
Earlier this year, an insistent cry arose from business leaders and Republican governors: Cut off a $300-a-week federal supplement for unemployed Americans.
The GOP, they really feel the plight of the little guy and are working to improve their lives. Or trying to convince them that a bigger threat to their livelihoods is CRT and immigrants,.
Labor shortages have persisted longer than many economists expected, deepening a mystery at the heart of the job market.
This canard keeps on being repeated. Even the $15 minimum wage is unlivable in most major urban centers in the US. The late stage capitalist "free" labor market is untenable and has been rigged to be a hamster wheel race to the bottom for most workers from the beginning. Instead of spending their hours in the pursuit of wages that cannot even support basic necessities , people are learning to live with less, learned during the pandemic and are opting out of the game.
3 ( +7 / -4 )
“Progress is extremely slow,” said Tomoko Yoshino, who was elected this month as head of the 7 million-member Japanese Trade Union Confederation, known as Rengo. “I will tackle all activities at Rengo from the perspective of gender equality and diversity.”
Why don't you empower the Japanese worker en masse, not just one gender, who have been progressively disempowered over the last over the last 30 years of your unions' negotiations with Japan Inc.?
And if you are looking for more inclusivity, how about the many workers who are not members of Rengo, the p/t, contract and gig workers, many women, who could benefit from any labor protections and higher wages?
11 ( +14 / -3 )
Reiwa Shinsengumi is seeking permanent public animal shelters, a ban on the commercial sale of live animals at pet shops and improved living conditions for livestock.
I just hope Reiwa Shinsengumi gets power in the upcoming election to expand its influence.
Protecting the rights of other thinking, feeling beings can only be a positive.
0 ( +4 / -4 )
Japan adopted a new energy policy on Friday that promotes nuclear and renewables as sources of clean energy to achieve the country’s pledge of reaching carbon neutrality in 2050.
We cannot led our long ideological stances get in the way of efficient technological solutions to the problems we face today. Extremely safe thorium salt reactors are the next best thing to fusion. China is developing them and many countries could remove the existential threat of our old nuclear reactors if their was the political will to upgrade them.
We might have to shave a bit of money off the defense budget and corporate subsidies though.
3 ( +7 / -4 )
Former Prime Minister Shinzo Abe posted his first video on his official YouTube channel on Oct 19, but not to throw his hat into the upcoming race for PM though. He simply sent his warm greetings to everyone and stated his mission to share his views on the streaming platform.
How much do you want to bet comments will be closed?
His videos should be bombarded with reply videos showing how people's lives have been "improved " by his Abenomics neoliberal policies and as a sign-off hashtag# Thanks former PM Abe!
10 ( +12 / -2 )
Measures to address suspects jumping bail were called into question after former Nissan Motor Co. Chairman Carlos Ghosn fled Japan for Lebanon while awaiting trial in 2019. There have also been a string of other incidents in Kanagawa and Osaka prefectures.
GPS trackers and no-go zones for the crime of online insults? I would like to see this put into effect when someone, maybe a foreigner, insults a political leader here. Like with Ghosn, it would highlight the absurdities of the Japanese "justice" system.
2 ( +11 / -9 )
Speaking at a news conference on Thursday, Shibuya Ward Mayor Ken Hasebe urged people not to gather at the scramble crossing and asked them to instead enjoy Halloween at home.
They were urging that even before COVID 19. I think it is a little too bacchanalian for the tastes of the establishment.
A lot of Halloween costumes have masks with great coverage built right in!
7 ( +10 / -3 )
A weak yen typically serves as a boon to the export-driven Japanese economy.
And a millstone around the neck of the average Japanese worker. Thanks LDP!
13 ( +17 / -4 )
Data trumps theory
This was a motto of Andrew Yang's campaign.
So many of the theories of the conservative right are magical thinking: trickle down economics, pulling yourself up by your bootstraps (think about it), even climate change denial and anti-vax .
They fall apart when confronted by empirical data.
0 ( +4 / -4 )
The Verge cited an unnamed source noting the name would reflect Facebook's efforts to build the "metaverse", a virtual reality version of the internet that the tech giant sees as the future
Zuck is infatuated with Neal Stephenson's Snowcrash now? Imagining himself as Hiro Protagonist?
1 ( +1 / -0 )
But come on. How many people actually pay an effective tax rate of above 20% who are not well-off / rich?
The 33% tax rate only kicks in for people earning above 9 million, and there is a fat standard deduction too, bringing the effective rate down. The next lower level is 23%, and considering the dedication…
This is not very in touch with the reality of this late stage capitalist economy. Many service industry workers making 200,000 or so a month(and quite a few in IT, engineering) see 40, 000 to 60000 yen a month paid after income taxes in the residence, pension, unemployment and health insurance payments. This is well about a 30 percent effective rate on the lowest earners. This may not be your reality but is THE reality for a sizeable proportion of the population. This is what progressive tax policies seek to redress.
1 ( +1 / -0 )
That is complete bunk. Wages are overwhelmingly decided in corporate boardrooms and through negotiations between corporate management and labor unions. There's no direct government role. Abe made numerous very public calls for corporations to raise wages, which they rejected, and for which he, as prime minister, was powerless to act.
It's scary that someone so clueless can lead the world's third biggest economy. If you want a prime minister to unilaterally raise private-sector wages, then vote for hardline communists.
Jeff is telling the truth here. Abe's biannual pilgrimages to Keidanren to "urge" them to raise wages was performance theater.
But I believe it can be done through tax incentives, strengthening the positions of unions and labor, and more progressive labor and fiscal policies. So socialism, not hardline communism.
5 ( +7 / -2 )
Speaking in Kobe, a day after campaigning began, Kishida vowed to implement "economic policies that will raise the income and salaries of as many people as possible."
And by as many people as possible I mean the executives at Keidanren company and their associated stakeholders.
"Many people who live in this rich country Japan cannot feel it. Let us share that wealth. Let us make people who made money through stocks pay more tax," said Edano, adding, "It is wrong that the tax rate for money made through stocks is lower than that for money earned by working."
This is a worldwide phenomena. it even made Warren Buffet go on TV with his secretary to point out the fact she paid a much higher rate of tax than he does. Still hasn't changed the fact. It won't change unless corporate money is booted out of politics.
12 ( +14 / -2 )
Royal Smart remembers every detail: the feeling of the handcuffs on his wrists. The panic as he was led outside into the cold March darkness, arms raised, to face a wall of police officers pointing their guns.
He was 8 years old.
This probably won't move many on the right:broken homes, culture of criminality and Democrat-led failed inner cities would be the usual litany.
Maybe if they googled the many stories and videos of coward cops who shoot people's dogs; many at mistaken addresses or serving summons for minor offenses they would have more sympathy with how many people view the police.
7 ( +14 / -7 )
A ‘fit’ for Japanese business already, allegedly, ‘in bed with Rahm’. 2019- Then mayor, Emanuel was instrumental in having Beam Suntory and Modelez Int’l, N. Amer makers/distributors of Pocky, relocate HQ’s to Chicago to “create jobs”. 2021- They are now under investigation for failure to pay sick leave, overtime issues, etc.
A great tidbit of info @snowymountainhell.
Yes seems right in line with the exploitative business practices of many Japanese companies. I see great business synergy here.
13 ( +16 / -3 )
Among the Democrats most critical of Emanuel's nomination are Rep Alexandria Ocasio-Cortez of New York, who called the pick “deeply shameful,"
AOC is the new American soul of the Democratic party , not Biden.
Rev. Ira Acree, a civil rights activist in Chicago, said Biden's decision to reward Emanuel with an ambassadorship was disappointing.
“What he did was commit an unpardonable political sin,” Acree said of Emanuel. “But the president and Democratic Party appears to want to reward him because of his clout, what they perceive to be his high political acumen and his extraordinary ability to raise money.”
Very astute analysis by Rev. Acree.
Emanuel is very much in line with the Clinton/Biden neoliberal wing of the Democratic party, and will sail through the nomination. I'm sure japan will welcome him.
10 ( +14 / -4 )
Kishida, who took office on Oct 4, has pledged to realize economic growth and redistribute wealth to the middle class in a course correction of "Abenomics," which has been criticized as helping lift corporate earnings and share prices but failing to spark wage gains.
So he has identified the problem; though he was a willing participant in the ruling party government and policies through the decades of failed trickle down policies. And the solution is:
"We will distribute the fruits of economic growth in the form of salaries and income.
Meaning with no policy changes the promise of supply side economic reforms will come true this time. Just wait and see!
Say what you will about empty campaign promises, but at least the opposition parties like the JCP and CDPJ seem to have actual policy proposals to address economic suffering beyond the LDP's promises of a fountain of QE easy money and a slogan "new capitalism".
3 ( +5 / -2 )
Exhausted after working long hours during the coronavirus pandemic and resentful that their bosses are not sharing sometimes huge profits,
And this echoes what workers in Japan, with the widening wealth gaps under neoliberal policies, and those struggling around the world with the precarity of labor are saying.
It did not improve under Trump and is not improving under Biden. The causes are not China nor immigrants. Many corporatists and their shills will use that as distractions. It is the bosses , and their bosses who have worked over the last 40 years to diminish the power of organized labor and the share of productivity gains going toward labor.
Here is to the possibility that the pandemic could possibly be shifting things in the other direction.
9 ( +12 / -3 )
Masakazu Tokura, chairman of the Japan Business Federation, Japan's most influential business lobby also known as Keidanren, expressed the group's unequivocal support for the LDP.
"We highly value Mr Kishida's vision of a 'new Japanese capitalism'" focusing on growth and distribution, he said. "I look forward to the continuation of stable politics led by the LDP."
Keidanren wants the "vigorous debate" to be on the topics of the amount of subsidies their associated businesses will receive and what tax incentives they will receive to possibly consider an 11 yen across the board increase on salaries.
They already nixed debate on redressing the decades of their wage suppression and capital accumulation by a slight dip in the market and expressions of concern that caused Kishida to fold on his promises of a new form of capitalism faster than an origami crane.
9 ( +9 / -0 )
You mean "Mr. Pink", the "actor" whose only political claim to fame is...bum-rushing the Emperor to force on him a political petition, much like the "far right" once was only known for trying to do around here? The dude that named his party after a Japanese police force that used to crack down on anti-Edo dissent, and just won what, 10% of the vote in the 2020 Tokyo gubernatorial race? lol. What a vote-getter!
Hey. Why stop with "democratic socialism"? The "Opposition" clearly didn't.
Now, you, too, can vote for a "moderate" CDP that's openly aligned with....card-carrying Communists!
I think you are hitting the trifecta Hito Bito. So Yamamoto peacefully petitions the Emeperor and the name of his party makes him crypto-rightist, and of course as a democratic socialist and aligned with a nominal Communist party his ultimate goal must be the abolition of all private property and authoritarian rule by the Party.
Like with Bernie Sanders in America, the fear mongers and clumsy smear campaigns are always out in force.
7 ( +7 / -0 )
But both the LDP and lefty CDPJ and JCP are all for big government socialism, spending tens of trillions.
As if the LDP spending trillions on GoTo and farm subsidies for pricey melons, contracts for Dentsu and padded construction contracts for cronies is "socialism" and exactly the same thing as the opposition promises of pandemic relief for families, basic income to supplement woeful wages in the "free" labor market and tax relief for lower and middle income households.
You heard it here; the LDP is socialist. Maybe you have it confused with National Socialism?
5 ( +7 / -2 )
Giving a glimpse of the chaos behind the scenes, Reiwa Shinsengumi leader Taro Yamamoto abruptly announced he will run in a Tokyo constituency that already had prospective contenders from both the CDPJ and JCP, only to face a wave of criticism and retract the decision days later.
Go Taro! Glad to see him get a rare mention here. Sad to see though that populist candidates with a democratic socialist platform get so little coverage.
4 ( +7 / -3 )
Prime Minister Fumio Kishida dissolved the lower house of the Diet on Thursday, paving the way for elections on Oct 31.
The Halloween Horror of the Liberal Democratic Party returns to stalk the Japanese public like the faceless terror who keeps returning again and again...
2 ( +4 / -2 )
“What you have given me is the most profound experience," an exhilarated Shatner told Bezos “I hope I never recover from this. I hope that I can maintain what I feel now. I don’t want to lose it.”- from the blue sky to the utter blackness of space was a moving experience: "In an instant you go, 'Whoa, that’s death.' That’s what I saw.” -“Everybody in the world needs to do this. Everybody in the world needs to see," he said. “To see the blue color whip by, and now you’re staring into blackness, that’s the thing. The covering of blue, this sheath, this blanket, this comforter of blue that we have around, we say, ‘Oh, that’s blue sky.’ And then suddenly you shoot through it all, and you’re looking into blackness, into black ugliness.” -*
I read that in my head with all the dramatic pauses and flourishes of James Tiberius Kirk.
4 ( +5 / -1 )
Let them work, wait and let's see..
To quote Yoda, but it works just as well with the dysfunctional relationship between the Japanese public and ruling LDP ; " “And that is why you fail.”
2 ( +5 / -3 )
The main opposition Constitutional Democratic Party of Japan unveiled its campaign platform Wednesday for the general election this month, pledging to achieve economic growth by reducing inequality and poverty.
This is the way to go about it, trickle up policies that raise living standards and stimulate demand in a consumer driven economy like Japan's.
The endgame of all the decades of trickle down neo-feudalistic policies is the wealthy sequestering riches in tax havens and the majority of the public living on less and less, killing many industries. Some people have to have the wherewithal to buy the products these businesses are making?
13 ( +19 / -6 )