JeffLee comments

Posted in: Japan plans to cut aviation fuel tax by 80% at most: report See in context

@Desert

"Governments sell bonds to finance debt spending.."

The BOJ has purchased nearly half of all the govt bonds and could continue to buy a lot more if it wanted. How does this "finance" anything, let alone the government's debt spending?

0 ( +0 / -0 )

Posted in: Japan plans to cut aviation fuel tax by 80% at most: report See in context

Just borrow more forever and ever, right.

Well, the Japanese govt and central bank are the ones who issue yen, so they don't have to "borrow" any of it.

-1 ( +0 / -1 )

Posted in: Unveiling economic team, Biden pledges, 'Help is on the way' See in context

The spending always happens but the balanced budget never does. 

Yes it does. Bill Clinton went beyond balanced budgets. He balanced on the first year, and then produced surpluses for the next three years. How? He raised taxes on higher income taxpayers early on and cut spending on defense and welfare.

Economic meltdowns, caused by greedy corporations, however, are what have sent the US back into deficits.

8 ( +10 / -2 )

Posted in: Sri Lankan man arrested for arranging fake marriage with Japanese woman See in context

Why doesn't the story mention arrests or charges against the Japanese women, who knowingly agreed, allegedly, to take direct part in an illegal scam?

3 ( +6 / -3 )

Posted in: Gov't considering ¥20 tril extra budget to spur virus-hit economy See in context

Where does all this money come from?

From the Japanese government and the central bank. That's why the Japanese state does not "borrow" its money -- because it's the one who issues it!

The govt spends yen into existence and the BOJ issues it to commercial banks, from whence it multiplies and flows thru the economy. The govt bonds issued are not really "debt," but surplus yen (not taxed) that the govt converts into bonds. Nearly half these bonds (the national debt) are being held by the BOJ.

Foreign investors will gradually see the Yens as useless, and won't ever conduct businesses with any Japanese person again

That outlook has nothing to do with reality. The yen is a major global safe haven and continues to strengthen against the dollar and many other currencies.

-1 ( +0 / -1 )

Posted in: Tokyo Olympic organizers won't confirm added costs reported at $3 billion See in context

It's going to be not just the most expensive, but the most boring Games, given all the covid-related restrictions that will reduce crowd size and limit social activities.

Every country needs to realize that hosting the Olympics carries huge downside risks including when there are no pandemics, and that the people responsible need to be held accountable when such risks materialize.

6 ( +6 / -0 )

Posted in: Gov't considering ¥20 tril extra budget to spur virus-hit economy See in context

Since this story is about fiscal stimulus for businesses to boost the economy, I'm wondering why it's in the politics section and not the business section.

4 ( +5 / -1 )

Posted in: Japan factory output grows for fifth month; retail sales surge See in context

Yet again more positive data that undermines the narrative of the doomsday crowd. Japan is relatively well poised to emerge from the Covid recession.

The fact that J- govt continually has to roll out stimulus packages year after year just highlights how incompetent they are at managing things.

All the countries are rolling out stimulus, in case you haven't noticed. If it highlights any kind of "Incompetence," then that would be the private sector, whose prime business model over the last few years has been wage suppression. If wages rose in tandem with corporate profits, the stimulus wouldn't be needed.

0 ( +0 / -0 )

Posted in: Coronavirus cluster grows at Tokai University rugby club See in context

Team sports should be drastically curtailed, if not cancelled. I live near a high school and baseball and soccer are going full swing.

During the endless training, with lots of loud, en-mass shouting-based chanting, which makes the US Marines seem like librarians. A recipe for mass infection.

10 ( +17 / -7 )

Posted in: Nikkei extends rally to 4th straight day; another 29-year high See in context

@fxgai

What you call a crazy bubble is a level that some here are saying will be surpassed in 2021 anyway,

Yep and that level won't be a bubble, ie, a rapid escalation in prices. That's what happened in 1991. That is what is NOT happening now, given the uptrend has been going on steadily for at least 5 years after the introduction of reform measures like the governance and stewardship codes.

-1 ( +0 / -1 )

Posted in: Tokyo Olympic organizers estimate delay will cost extra ¥200 bil See in context

I wonder about the non-related costs, like the athletes village condos that were supposed to have been occupied by private buyers by now.

12 ( +14 / -2 )

Posted in: Japanese automakers' global output rises 2.7% in October See in context

In the post Covid world, private transportation - as opposed to public transportation - will grow in importance and popularity.

These numbers are significant as they are year to year, marking the change from the pre-covid era.

3 ( +6 / -3 )

Posted in: Gov't considers compulsory private health insurance for int'l Olympic visitors See in context

Implementation cold be a mess, this being Japan. Many of the people would buy policies from non-Japanese insurers that Japanese authorities dont know about and thus wouldn't recognize. Japan's govt and industry are notoriously narrow-minded when it comes to accepting foreign documentation and certification.

0 ( +0 / -0 )

Posted in: 2 Israeli men served new warrants over smuggled drugs worth ¥15.1 bil See in context

The two were initially arrested on Nov 8...

Yep, "initially." Presumably the prosecutors will keep on arresting them to detain them longer while denying them access to their lawyers until a confession emerges.

And then watch the minister of justice get all huffy when the UN or other international organization announce that Japan's criminal justice system is unfair and inhumane.

9 ( +12 / -3 )

Posted in: Nikkei extends rally to 4th straight day; another 29-year high See in context

@fxgai

 there are better performers than the Nikkei225.

Some, but not many. Nikkei 225 ETFs have clearly outperformed the Vanguard Total International Stock Index Fund over the past 5 years.

If you're living in Japan and earning yen, may as well put put money in Japanese stocks. No foreign exchange risk and no non-residency/foreign investor taxes, not to mention the tax-free options like NISA and IDeco. This is where smart money goes.

You merely resent the Nikkei's performance over the past few years because it undermines all of your bearish, if not doomsday, comments you posted here (and perhaps elsewhere) during that time on Japan's potential.

-2 ( +0 / -2 )

Posted in: Nikkei extends rally to 4th straight day; another 29-year high See in context

@fxgai

"...but over the long term the Nikkei is straggler"

Your base is the peak of the craziest bubble in history, where the market should not have been anyway. And in "the long term," we are all dead. A smart investor thinks over the medium term and recognizes a bubble for what it is, and thus a smart investor would have invested in Japanese stocks for a few years back, as the track record shows.

I'm seeing articles in the FT, CNBC, etc. calling Japan one of the world's best money-makers for investors. This message been around the past few years, and are resurging.

-3 ( +0 / -3 )

Posted in: Diet OKs end of Saturday, next-day standard postal delivery See in context

Saturday is the day that I get the most postal mail, for some reason. I always check the box. I guess I'll have to do that on Fridays now.

6 ( +6 / -0 )

Posted in: Nikkei extends rally to 4th straight day; another 29-year high See in context

 the worker-bees, here and abroad, arent getting squat!

The ones here are if they set up a NISA and/or IDeco account, which the govt has been urging them to do. Count me as one. My Nikkei 225 fund is up 75%. My ideco was set up in January and is up over 10%. Not bad for tax-free accounts!

-4 ( +1 / -5 )

Posted in: Japan to give tax breaks for long-term foreign residents to attract financial experts See in context

If you've lived in Japan over 10 years and then leave, the Japanese tax office can come after you

I believe this law isn't about that but rather about taxing your overseas assets or the assets of your overseas family if you die in Japan.

0 ( +0 / -0 )

Posted in: Japan to give tax breaks for long-term foreign residents to attract financial experts See in context

Also imposes mandatory pension, even most of foreigners won't use it and will get only less amount from what they put on it.

That's not really true. I "use" it and my official projection shows my payouts will well exceed my contributions if I continue to pay until age 65 and live until 85.

In addition, many countries have pension accords with Japan, allowing you to totalize your contributions from one system into the other.

7 ( +7 / -0 )

Posted in: Tokyo stocks end higher on Wall Street rally but gains pared See in context

On one hand I'm making big gains. On the other, I'm reluctant to invest more at such high valuations. Waiting for the next correction, and then bang!

2 ( +2 / -0 )

Posted in: Japanese rental house comes with a full-size bus See in context

How very third world.

2 ( +2 / -0 )

Posted in: ANA to launch smartphone payment service by year-end See in context

Yes but a Delta flight is worse than being on a pikeys campsite...

Yes, but Delta's program gives a member access to about a dozen partner airlines and has been rated by international industry group's as the best program around.  I mostly don't fly Delta when redeeming my miles.

1 ( +1 / -0 )

Posted in: The pandemic is driving non-regular workers and the self-employed into a corner, and that the government must implement measures to protect their jobs. See in context

Hey, this is the direct result of Japan's "market reforms" everyone (except me) was pushing for, remember? A flexible workforce, etc.

I guess no one (except me) considered the awful and costly downside.

-3 ( +0 / -3 )

Posted in: ANA to launch smartphone payment service by year-end See in context

"they will receive 6 to 16 miles per 1,000 yen."

VISA card has been giving me 13 miles per 1,000 yen for the last couple of DECADES on Delta's program. Don't think I'll switch to JCB. LOL.

1 ( +3 / -2 )

Posted in: Japan business lobby sets goal of 30% female executives by 2030 See in context

With many companies still valuing long working hours, women tend to lag behind their male colleagues ...

I guess this means the corporations will be exhorting all their managers to work less? LOL.

3 ( +5 / -2 )

Posted in: Human rights panel: Japan was wrong to detain Carlos Ghosn; owes him compensation See in context

I'm no fan of Ghosn, but I'm absolutely no fan of Japanese prosecutors and their bullying and inhumane methods.

36 ( +43 / -7 )

Posted in: In U.S., booming real estate market highlights rich-poor divide See in context

I have problems with the premise of this article. Low income earners who have lost jobs or face job uncertainty should NOT be buying homes right now. That's how the global financial crisis started. As for the first-time buyers, they are overwhelmingly young. They should wait another year or so until the vaccines come out and the situation normalizes and thus their financial situation stabilizes before taking the plunge.

-2 ( +4 / -6 )

Posted in: Remote Japanese island 'getting energy' from Vietnamese students See in context

Nice idea, but having just one nationality is not a good idea. They will hang out together in their free time, not speaking Japanese, while in those purpose-built dorms.

Why didn't the town go for a group of "international students" (a multinational/multicultural mix) that than "another nation's students"? Seems strange.

9 ( +12 / -3 )

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