Rakuraku comments

Posted in: Households becoming less tolerant of surging food prices: study See in context

households' tolerance by subtracting the percentage of respondents who considered price hikes "troubling" from those who perceived them as "desirable."

Not too sure who consider price hikes as « desirable » except BOJ board members !

16 ( +18 / -2 )

Posted in: High court rejects paternity harassment allegations by Canadian man See in context

I used to work here for one of the 3 mega banks. One of my colleagues asked and obtained an 8 months paternity leave. As long as I know there was no real issue even though the management was very surprised. Maybe the fact that he is a high performer helped because they obviously want to keep him for the long term.

0 ( +0 / -0 )

Posted in: Kishida plans reward points system to ease electricity bills See in context

For me, if prices have gone up, the last thing I want is the government taking measures aimed at alleviating the reality of those higher prices.

The cure for high prices, is high prices. And the same for low prices (low prices). Government types aren’t all knowing geniuses with the collective knowledge of all of us in their heads - they will make worse decisions than we can collectively make for ourselves. Please, let’s save ourselves from the central planners.

Spot on. I am French and we have exactly the same issue of government making things worst.

2 ( +3 / -1 )

Posted in: BOJ policy should be set comprehensively, not just for yen: Kishida See in context

Watch how people start defaulting on their loans and mortgages in the USA, etc...as interest payments get to high for them.

What would you do when inflation is at 8 % with the start of a wage price spiral. Inflation creates a lot of pain for the consumer (especially the poorest one) , saver, the pensioners…etc). Yes people with a mortgage benefit but the policy is too much biased in their favor. It should be more balanced between the interest of the different economic agents.

-1 ( +0 / -1 )

Posted in: Kishida's support edges down; voters critical about rising prices See in context

The main culprit is Kuroda which, by keeping forever the same ultra loose monetary policy when the rest of the world is tightening, creates the conditions for a very weak JPY (at its lowest level in real term against the USD for 50 years). This will translate by higher and higher imported inflation with the poorest being the most hurt as always. Very sad indeed.

1 ( +1 / -0 )

Posted in: Bank of Japan keeps monetary easing policy despite U.S., Europe rate hikes See in context

Japanese have no choice than to save for their retirement because their pension is very low. If inflation reach 3 % or more and interest rate remain at 0 % people will see their savings eaten by inflation and face a very bleak  future.

-3 ( +1 / -4 )

Posted in: Bank of Japan keeps monetary easing policy despite U.S., Europe rate hikes See in context

Raising interest rate is only something US willing to do to it's own people. It makes people lives there even harder. Borrowing interest increased, loans becomes harder to repay, use of credit cards becomes more expensive and you can forget about your mortgage. Raising interest rate is something you do to increase the expenses of service so much to make people become less willing to spend money and go into saving mode and therefore lowering the demands of goods. This is suppose to then help cooling down inflation.

Japanese have no choice than to save for their retirement because their pension is very low. If inflation reach 3 % or more and interest rate remain at 0 % people will see their savings eaten by inflation and face a very bleak  future.

-3 ( +1 / -4 )

Posted in: Yen slides to 24-year low against dollar See in context

The JPY is at a 24 years low against the USD in nominal term but in real term (adjusted by the differential of inflation) it is at a 50 years low. We will all finish our life in Japan!

-4 ( +1 / -5 )

Posted in: U.S. keeps Japan on currency watch list; warns against intervention See in context

I wish I had bought gold

Well if you look at the price of gold in USD it has been pretty flattish this year. In JPY it seems that the price appreciated a lot but this is du to the increase of the USD not the gold itself.

Generaly gold doet not perform very well when interest rates increase because god do not produce any income. As interest go up assets procucind interest like bonds become comparatively more attractive.

2 ( +2 / -0 )

Posted in: Yen sinks to 20-year low against dollar See in context

I also said months ago to buy Rubbles. Now over double.

Where can you buy some? Did you buy any?

1 ( +3 / -2 )

Posted in: Yen sinks to 20-year low against dollar See in context

I don’t understand why recession in US will further push yen to 150.

Would you explain?

You do not understand because it is not correct . If anything a US recession should push the USD lower and the JPY higher.

6 ( +8 / -2 )

Posted in: Yen sinks to 20-year low against dollar See in context

However, the imminent collapse of Japanese YEN, as well as Japan's default, is on the way.

Much weaker JPY and higher imported inflation likely but default will never happen because the debt is all denominated in JPY and nearly entirely held by domestic investors. BOJ can always print JPY to finance it.

-1 ( +3 / -4 )

Posted in: Monetary tightening not suitable at all: BOJ chief Kuroda See in context

Kuroda said yen weakness is "positive" as long as it is not rapid.

Depreciation from 115 to 132 over the last 3 months is not considered rapid by Kuroda san!

Is he waiting for the JPY to turn into the Turkish Lira to say it is rapid…

6 ( +12 / -6 )

Posted in: Monetary tightening not suitable at all: BOJ chief Kuroda See in context

Einstein quote:

« Insanity is doing the same thing over and over again and expecting different results »

9 ( +14 / -5 )

Posted in: Prices of over 10,000 food items in Japan to be hiked: survey See in context

Kuroda san 2 days ago.

“Rapid yen weakening not due to the central bank policy”

and the most important thing for a central bank is supposed to be credibility…

6 ( +8 / -2 )

Posted in: Prices of over 10,000 food items in Japan to be hiked: survey See in context

Plus I expect inflation to be around 8-10% at the end year in Japan. 

So 10% of inflation tax plus most of those security guards going to the higher tax rate (from 5 to 10%) means 15% in addition taxes on the poorest people.

Seems unlikely. 10% is possible in US with nominal wage increase of 5%. I do not see Japanese wages growing at more than 2 % by the end of this year (and it would be more than twice the current 1%). Current inflation is likely to put a big break on demand and inflation fortunately is unlikely to get over 5% by the end of this year.

-1 ( +0 / -1 )

Posted in: Prices of over 10,000 food items in Japan to be hiked: survey See in context

JST

The farmers are paid pitifully for their produce but by the time the consumables get to the consumer then price hikes of hundreds of times have occurred already.

Example: a lowly persimmon is bought by JA for 1 yen and the consumer pays 100-150 yen.

13% more is negligible in the scheme of things.

Still, the poor are going to get poorer…

I do not doubt that what you say is true but could you kindly give us your source as it seems extravagant.

0 ( +1 / -1 )

Posted in: Tokyo reports 2,194 new coronavirus cases; nationwide tally 20,828 See in context

Will people stop wearing their mask one day? Today 30 degrees and people still wearing them while walking alone in deserted street. The government has probably to fine them for wearing their mask if they want them to stop doing so!

-1 ( +13 / -14 )

Posted in: FamilyMart launches medicine pick-up pharmacy service See in context

Yes Family Mart is great and this new innovative service wonderful. But to talk about their gourmet eggs sandwiches… The writer should visit a Mark and Spencer’s to know what a gourmet sandwich is (and I am not British!).

1 ( +2 / -1 )

Posted in: Japan's inflation hits 7-year high See in context

Regarding evolution of real estate price, I think it all depends of the location. I was pleasantly surprised recently to discover that the price of my mansion had increased by 62 % compared to the price I bought it in 2003.

1 ( +3 / -2 )

Posted in: Kishida says Japan will consider easing COVID border controls See in context

On Sunday evening, I come with a light fever. I decide to wait and see for a couple of days. During this period I have all the symptoms of covid and my temperature fluctuates between 37 and 38.

On Wednesday I give a call to the health center to know if I have to do the test and after listening to my symptoms I am told: “follow your own judgment”.

On the same day I hear about a family of four returning from France having to stay locked 6 days in a small hotel room near Narita with a 1 and a 3 years old kids (hell on earth!).

If you are in Japan (with currently 100,000 cases per day) you can behave carelessly with a quasi encouragement of the authorities, but if you arrive from abroad you have to stay locked 6 days!

Where is the logic?

4 ( +9 / -5 )

Posted in: 50% of single-parent households in Japan struggle financially: study See in context

These days it is not true to say that child support is difficult to get in Japan.

The person with child custody can easily obtain a child support order by the familly court (it takes only a few months).

Once this order is in place, if the person who is supposed to pay is only a few days late, the receiver of the child support can in about à week get a decision from the court ordering the company of the debtor to withdraw the child support from his salary. This is incredibly fast compare to other countries.

-1 ( +1 / -2 )

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