JeffLee comments

Posted in: Japanese businesses see economy peaking out, want more stimulus See in context

What these dummies dont understand is that their workers are consumers. Pay them more and they will spend more, boosting the economy. The poll respondents are either really stupid or really disingenuous.

1 ( +1 / -0 )

Posted in: Once a backer of the BOJ's price target, Abe turns his back on Kuroda See in context

The yen is not a safe heaven, 

Global investors disagree, that's for sure.

 one of the main reasons for the QE is to maintain a weak yen...

Partly, but mainly to lower borrowing costs for both companies and consumers. The US, Europe and others have been doing it, so Japan isn't unique, although it did invent it.

0 ( +0 / -0 )

Posted in: Abe criticized in Diet after pension report highlights income-savings gap See in context

My native Canada pays a basic 47,000 yen month state pension, which no one can live on. So nearly everyone contributes to an employer system, puts savings in tax-free accounts (which Japan also has) or invests on their own.

I really don't understand the mentality of the Japanese public.

-4 ( +1 / -5 )

Posted in: Palau changes ocean sanctuary plan for Japanese trawlers See in context

Let's hear it for "extortion."

Japan is the loudest voice nowadays demanding others to embrace "multilateralism.",,,,except of course in its own case when multilateralism doesn't suit its vested interests.

-1 ( +0 / -1 )

Posted in: Once a backer of the BOJ's price target, Abe turns his back on Kuroda See in context

@Simon Foston

but I've seen no sign of the action

Abe has made repeated public calls for firms to raise workers wages. I don't know of any other national leader who has been doing this quite as ardently. But I think its time for action: like rescinding the tax cut for highly profitable companies practicing wage suppression.

@ThonTaddeo

The 10,000 yen in my pocket buys me about as much as it did 10 or 15 years ago. Less fresh food, but more of other things, like food ingredients, merchandise, clothes and wine, for example. Just visit a Daiso 100 yen store.

Fresh food prices are rising relative to other costs throughout the developed world. Japan isn't unique, and that trend doesn't really say anything about its QE policy. the point is that nearly everyone (not me) sued to say or still say QE would devalue the yen. And nearly everyone (not me) have been proved wrong.

0 ( +0 / -0 )

Posted in: FSA estimates couples need retirement savings of up to ¥30 mil See in context

@Crickey

jeff lee, are you serious? I know of of know one who has such cash.

You need to get out more: Reuters: "Japan households' financial assets rising thanks to Abenomics: survey"

https://www.reuters.com/article/us-japan-economy-boj/japan-households-financial-assets-rising-thanks-to-abenomics-survey-idUSKBN1DA0QJ

0 ( +0 / -0 )

Posted in: FSA estimates couples need retirement savings of up to ¥30 mil See in context

Household financial assets in Japan are at an all-time high, with more than half of it in cash and must of the rest in life insurance. Japan's state pension systems are contribution based. Conclusion: the Japanese public are cry babies who need a grip on reality.

-1 ( +1 / -2 )

Posted in: Once a backer of the BOJ's price target, Abe turns his back on Kuroda See in context

@ilovecoffe

You cannot keep inflation under control unless you stop the QE. 

QE has been happening for nearly 2 decades and the result has been low to negative price inflation, not to mention and a very stable global "safe haven" currency. How do you explain that?

@Simon Foston

So does that mean the government is also part of the problem because it could be doing more to push employers to raise wages but isn't?

Partly yes, but It's complicated. The govt in a liberal democracy should not be the position of pressuring or dictating wage rises to the private sector. But Japan's govt has found itself in that odd position due to the outrageously greedy - but legal - behavior by employers. They have decided to renege on a social compact. Action is now needed, and the govt is the only one capable of doing so.

0 ( +0 / -0 )

Posted in: Once a backer of the BOJ's price target, Abe turns his back on Kuroda See in context

Stimulus measures and QE cannot go forever,

For Japan, actually, it can -- as long as inflation is kept under control.

-1 ( +0 / -1 )

Posted in: Trump says U.S. agency will begin removing millions of illegal immigrants next week See in context

By removing all the illegal immigrants all the low paying jobs that make America work will become empty. 

Canada does perfectly well without them.

-2 ( +1 / -3 )

Posted in: Once a backer of the BOJ's price target, Abe turns his back on Kuroda See in context

@Yubaru

"...yet for far too long prices on many products here are artificially kept high already."

I'm from western Canada. And most of my main expenses are lower in Tokyo than in my home country, where an affordability crisis rages.

Kuroda and Abe want businesses to raise wages....

And the businesses refuse, despite their record high profits. So blame them - the ones causing the problem - instead of the people trying to fix the problem.

-8 ( +1 / -9 )

Posted in: Abe cabinet support rate falls to 47.6% amid pension system controversy See in context

Let me get this straight: the public is angry at the prime minister because a govt report told a statistical truth. All pension contributors need to do is to go online, open their account and the amount they'll be receiving after 65 is right there. Or they can inquire at their local pension office. Why now is it suddenly a shock?

I know that I'll be getting around 76,000 yen a month, and thus my retirement nest egg is way, way bigger than 20 million yen. it would be ludicrous for me to get angry at the current PM, since the basic pension in my home country isn't much different.

Doesnt say much about the Japanese public.

2 ( +3 / -1 )

Posted in: Starbucks Japan expands Teavana range with Frozen Green Tea and Apple See in context

People have short memories, but before Starbucks arrived in Japan, it was nearly impossible to go out for a coffee without getting lungfuls of cigarette smoke, and any complaint about this receiving a shrug from the locals and Japanophiles.

0 ( +0 / -0 )

Posted in: Japanese companies oppose U.S. additional tariffs on China See in context

Business groups, including ones in Japan, have spent decades embracing the Republican Party while giving the Democrats a markedly cooler reception. They're now reaping what they helped sow.

2 ( +2 / -0 )

Posted in: 7-Eleven stores struggling in face of labor shortage See in context

@Yubaru

 It's a free market economy...

Not it isn't. If it were, workers' wages would be rising considerably in a "labor shortage." But this fundamental supply and demand dynamic has been distorted by corporate greed, including that by 7-11's operator.

6 ( +8 / -2 )

Posted in: Man suspected of killing at least 100 pet cats See in context

I thought nearly all the pet cats in Japan are indoors-only. I wonder how he could find so many pets, barring breaking into people's homes.

1 ( +1 / -0 )

Posted in: Airbus delivers first A350 to Japan See in context

Kinda dumb for Japan to have ignored Airbus for so long. Look at the risk entailed when all of one's eggs are in the same proverbial basket: 737 Max deadline software blunder, 787's fire-prone batteries, etc.

I've taken A350s on Vietnam Airlines and Delta. They're about as good as it gets.

1 ( +1 / -0 )

Posted in: Japan to expand language assistance, free Wi-Fi for foreigners See in context

Wifi "along the routes"? Not sure what this means. is this hotspots at waystations between famous areas? I dont think that will do much good, since people will be quickly passing thru such locations rather than sticking around long enough to start web browsing or checking emails.

Putting wifi on trains and buses or actually at the tourist locations is a much better idea. And the services shouldnt require registration like submitting passwords, either.

9 ( +9 / -0 )

Posted in: Pronto chief always one cup ahead of the competition See in context

I love sipping wine from a mug. Very Italiano!

Stemless wine glasses (cups) are pretty common in Italy. Long stemmed glasses don't make sense in that kind of environment, especially for red wine.

"...and if I want Italian food I go to a decent Italian....

I just happened to a decent Italian last night in suburban Tokyo. I phoned at about 4:30 for reservations for two for 6:30 and was told all the tables were taken and that only the counter was available. The bill was 10,000 yen. I believe the Pronto model is quick, low-cost, fuss-free Italian.

1 ( +1 / -0 )

Posted in: Gov't to require mobile phone operators cut cancel fees by 90% See in context

Softbank hit me with around 15,000 yen after I was a customer for 5 or 6 years. How many other businesses are able to charge you lots money for stopping using their service, even after all your contractual obligations have expired!? This is unacceptable.

1 ( +1 / -0 )

Posted in: U.S. businesses showing discontent with Trump's trade policies See in context

The Republican Party is the party of business, even though the economy performs better under Democratic presidents. I'd call that "masochism."

So tough luck, business people. YOu helped bring it all along. If you think Trump is dangerous, you should have spoken out back when he was vying for the party leadership. Instead, you denigrated his more suitable opponents to instead salivate over his tax cut and infrastructure spending pledges.

1 ( +1 / -0 )

Posted in: Japan grapples with traffic jams, visitors' manners amid tourism boom See in context

Install litter bins in busy areas, like other countries do. How difficult is that?

6 ( +12 / -6 )

Posted in: States sue to stop $26.5 billion Sprint-T-Mobile deal See in context

As a former long-suffering Softbank customer, I beseech the US to keep Masayoshi Son as far away from its shores as possible.

0 ( +0 / -0 )

Posted in: Japan's detention center gives foreign media a look See in context

"....public opinion would not allow a fancy lifestyle."

That's what hardly any of the critics want to acknowledge. Most Japanese people are happy, even proud, of their criminal justice system and would object to giving prisoners Western-style human rights like presumption of innocence or more time spent outdoors.

1 ( +1 / -0 )

Posted in: Gov't rejects ¥20 mil savings estimate for those living to 95 See in context

God forbid that individuals should take responsibility for their own financial situations. The state pension was never meant to sustain a comfortable middle-class lifestyle. It was conceived to ensure people had the basics in old age, like food and heating.

Japanese households's financial assets are now at a record high. The problem is 80% of that money is cash and life insurance. If Japanese people dont want to invest, even during today's extended bull market, that's their fault, not the government's.

-11 ( +1 / -12 )

Posted in: Gov't aims to create 300,000 regular jobs for people in 30s-40s See in context

Wrong approach. The govt should be nailing the employers. If the employers insist on their wage suppression policies, then the govt should just say, "OK, then, bye-bye corporate tax cut. And goodbye to your procurement contracts as well."

Hit 'em where it hurts!

6 ( +6 / -0 )

Posted in: Organizers vow to keep beer flowing at Rugby World Cup See in context

There are cultural differences to consider, but Japanese people are the same after a few drinks."

What does that mean?

1 ( +2 / -1 )

Posted in: Stations to suspend use of trash cans, lockers in Osaka for 6 days during G20 summit See in context

@Strangerland

Because they were used in the Tokyo sarin gassings.

Subway trains and public restrooms were also "used" in the gassings. Let's ban them as well, eh.

1 ( +1 / -0 )

Posted in: Stations to suspend use of trash cans, lockers in Osaka for 6 days during G20 summit See in context

Japanese authorities hate trash cans. they look for any excuse not to have them.

1 ( +1 / -0 )

Posted in: G20 finance leaders say trade, other tensions 'intensifying,' but pledge action to counter risks See in context

...tackling issues in multilateral forums such as the World Trade Organization...

Haha! "Tackling"?! Forced technology transfers, IP theft, hacking, etc. were rampant in China during the era of "multilateralism." Finally, now, something is being done about it. And it's not because of the WTO, LOL.

2 ( +3 / -1 )

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