Frederick Gundlach comments

Posted in: Labor ministry to scrap employee pension insurance system See in context

This article isn't exactly accurate:

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Posted in: MacArthur's office offers glimpse of history See in context

There is actually a small plaque on the front of the building, in one of the corners (behind the granite exterior), explaining the significance of the building as the GHQ (general headquarters).

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Posted in: Japan closes on elusive tax deal to break policy gridlock See in context

It is about time the government of Japan moved on this.

Most countries have a dedicated tax system, using VAT or, in the United States, a payroll tax that works like a VAT---to fund general retirement pensions. This is not a matter of the Japanese being "overtaxed", it is one of finally paying the kind of taxes that the rest of the developed world pays, to fund a program that is expected among the generations now.

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Posted in: DPJ to present revised tax hike bill to cabinet despite opposition See in context

If the consumption tax hike is mostly used for transfer payments to needy retired persons, the effect on the economy in Japan will likely be zero. Whatever got taxed will be spent by those receiving the tax revenue as pension benefits.

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Posted in: Interac See in context

For a couple years now, I have wondered how Interac gets to recruit in U.S. cities and avoid U.S. anti-discrimination laws, particularly age discrimination. I don't think there is a loophole for "what the client in Japan wants"---in fact, I think the regulations are written exactly the opposite. After all, Dispatch in Japan means that you accept who the Dispatch company sends---not hire only the profile that the receiving company seeks.

This is on top of the Shakai Hoken controversy, where Interac has changed it to a voluntary assessment, rather than a required enrollment.

Other than that, I would say they are the best of the ALT Dispatch lot.

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Posted in: Temple University's Japan campus rebounding after quake See in context

They keep faking the total students number. Three thousand includes people who participate in one-day events, like corporate continuing education. The real numbers are more like 1,050 or 1,100 --- undergraduates and graduates combined.

Forty four from Main Campus is pathetic. Most all stateside colleges team up with a Japanese university to do study abroad. They don't build new, or lease.

Temple won't say what the facilities in Japan cost the school, and indirectly, the Pennsylvania taxpayers. They should say.

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Posted in: Azumi under fire for revealing forex intervention level See in context

I am not sure it's a screw-up to say that "we will weaken in the instance where the yen trades below 75". This is about controlling the upsurge, not trying to talk up a falling currency.

The J-government always has the ability to limit the upside on the currency, and I wonder how it costs the government if they have the trading community keep the currency above 75 (77-78 range), rather than them having to buy FX (or just print a lot of yen) to do it.

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Posted in: Chinatsu Wakatsuki announces she's 5 months pregnant and married See in context

She has been around the tarento scene for at least 7 years. I thought it was interesting that her name is Thousand Summers, and young moon. A lot of nature.

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Posted in: Noda proposes putting off planned consumption tax hike by six months See in context

It amazes me how a whole country can think it can run a government old age pension scheme off no money. All the other countries have these 15% to 20% taxes to do it. Even the United States' FICA (Federal Insurance Contributions Act) is 15.3% of the first $110,000 or so.

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Posted in: Wendy's to be relaunched in Japan in December See in context

Ernie Higa is a true American entrepreneur in a country with a lot of pretend ones. I hope he has great success bringing the Wendy's brand back to Japan.

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Posted in: Obama: Rich must pay fair share of deficit cuts See in context

It is math. Plus fundamental fairness. Why should capital gains be taxed at a lower rate than income from labor?

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Posted in: Obama, Noda to reaffirm alliance at New York meeting See in context

In other words, Japan has to state yet again to the world's emperor, "yes, we agree to follow orders and follow your foreign >policy, as ours doesn't count. We are your lackey." the US is so afraid of an independent Japan that has good relations >with China; they dread he day Japanese tell their occupation military forces to take a hike. Some alliance. Japan is still >occupied 60 + years later - against public opposition. Now you know why china is suddenly a "threat", otherwise there'd be >no credible pretext for US bases.

Translation: "We forgot about what we did to you in World War II, China, and we're sure you've forgotten, too!"

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Posted in: Obama to raise taxes on millionaires See in context

People of modest means pay an incredible amount of taxes. You can read up on this at the Citizens for Tax Justice, which is at

Most American taxes are regressive. Only the federal income tax, and some state income taxes are "progressive" (the higher income people pay more.) But there are so many loopholes and exemptions that these progressive taxes are skirted around.

Thus, the need for a millionaire tax. They are not job creators. They are just sitting on the piles of money, doing nothing.

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Posted in: Obama to raise taxes on millionaires See in context

The President of the United States cannot unilaterally raise taxes. All tax bills must originate in the House. The article's headline is wrong.

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Posted in: Obama to raise taxes on millionaires See in context

LOL. The president can not formally introduce a bill. But he can certainly send legislation to Congress and a member of his party (usually) will sponsor it and introduce it for him.

The article's headline is most certainly not wrong.

Yes, it is wrong. It says, "Obama to raise taxes on millionaires." Only Congress can do this. The President can approve the hike. A better headline would have been, "Obama proposes to raise taxes on millionaires" or "Obama to Congress: raise taxes on millionaires."

The sloppy language and lack of understanding about our constitution is one of the reasons nothing can get done in Washington.

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Posted in: Rally See in context

The sign is in English so that international readers can understand what the man is saying about the Senkakus.

Ask not who it informs to, it informs to YOU.

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