Rakuraku comments

Posted in: Bank of Japan ends negative interest rate policy, opting for its first hike in 17 years See in context

JeffLeeToday  04:59 pm JST

Plenty of JT contributors (not me) over the years claimed that the BOJ was trapped, unable to raise its rates or otherwise tighten. Oh, well. The BOJ will also to scale back its asset purchases including the ETFs. Let's see if that crashes the TSE, as so often predicted here (not by me).

We are talking about a 0.1 % increase with real rate increasing from -3.5 % to - 3.4%…

The neutral interest rate which would be neither contractionary nor expansionary is estimated to be 2%.

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Posted in: Japan considering legally binding regulations for AI developers See in context

It will be extremely challenging to implement such regulations, but it’s better than not attempting any action at all.

More and more sophisticated fake news is a real threat to democracy, so producers of these should be punished extremely harshly from the start to set an example.

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Posted in: Japan business lobby chief hopes for gov't efforts to end deflation See in context

Actually we may be at a turning point with the start of a wage-price inflation spiral!

I know it seems crazy as we have been used to the total opposite over the past 30 years, but things never stay the same forever.

For what is it worth here is a very interesting article on the subject

https://open.substack.com/pub/japanoptimist/p/go-for-it-ueda-sensei?r=1rzr6d&utm_campaign=post&utm_medium=web

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Posted in: Inflation dents budgets for cherry blossom viewing in Japan See in context

They are cherry trees absolutely everywhere. Just need to go to one in your neighborhood, and you will just have to spend the price of a can of beer! And it is much better than in a crowded place like Ueno.

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Posted in: Tokyo's controversial Yasukuni Shrine picks ex-admiral as chief priest See in context

RedemptionToday  05:21 pm JST

I went to Yasukuni once as it happened to be on my route. Just a simple and antiseptic temple in Tokyo. Those types of soldier costumed guys seemed to be hanging around, I guess they are unemployed or something.

It is actually a Shinto shrine not a Buddhist temple.

I was surprised that ex military men can become priests but this is just my Christian way of thinking. It seems that more or less everybody can become a Shinto priest after proper training including foreigners!

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Posted in: Kishida questioned over scantily clad dancers at LDP party See in context

There is this additional part which is not not in the article which makes it even more hilarious:

«  Throughout this fiscal year, we have been aiming to hold meetings where the theme of diversity is taken seriously, not just in words but also in actions, to ensure that attention is paid to those who are living different lifestyles or working hard in various professions,” said Kawabata in an official statement to the press. “We wanted to create a forum where we could raise questions about whether we are truly attentive to such individuals »

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Posted in: Major Japanese companies offer large pay hikes, fueling hope of beating deflation See in context

HopeSpringsEternalToday  08:23 pm JST

"fuels hopes of beating deflation", what world does this writer live in?! We're not in China, everybody's grocery bills have nearly doubled since Covid.

Granted, land prices are falling on any inflation adjusted measure, but daily necessities keep going UP!

Inflation is largely due to JPY depreciation. If it stops (this remains to be confirmed) inflation will probably stop. Wages increase are too limited (mainly large corporate) and consumption too weak to have sustained inflation. Actually after a 30% increase of prices of food in 2022 and 2023 prices seem to have stabilized over the past 3 months.

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Posted in: Niseko in Hokkaido to introduce lodging tax of up to ¥2,000 a night See in context

OssanAmericaToday  09:49 am JST

For the wealthy foreign ski nuts this Y2000 is nothing. As long as the Yen stays weak Niseko prices are not going to deter tourists.

Especially considering that this maximum 2000 JPY tax applies to people staying in a room with a nightly room charge of over 100,000 JPY, for these people, 2000 JPY is peanuts.

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Posted in: ‘Volunteer’ gets suspended sentence for stealing fruit from quake-hit home See in context

5 )

Daniel NeagariToday  06:17 pm JST

Second, yes the "inequality" of how the law aplies to the powerful and to the none powerful is shocking... though not as shocking since you can see a kind of similar tune in EVERY COUNTRY in the world.

Yes you are right in all countries without exception the powerful tend to benefit compare to the non powerful.

But Japan push it to the extreme. For example ex president of France Sarkozy has just been sentenced to a 3 years jail term (with 2 years suspended) over graft. And he is just one amongst several other politician's condemned.

I do not think this could happen in Japan.

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Posted in: ‘Volunteer’ gets suspended sentence for stealing fruit from quake-hit home See in context

SDCAToday  05:29 pm JST

Yet, politicians steal money from the people to buy up their books and get no punishment at all. 18 months for something this petty? Really?

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Indeed. This seems totally disproportionate. Japanese justice system seems to have very little independence and the powerful can sleep soundly whatever they do. Shocking.

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Posted in: Osaka Prefecture eyes collecting fixed fee for inbound tourists from 2025 See in context

I wrote in my initial text about Le louvre

RakurakuToday  08:37 am JST

@Antiquesaving

Charging for non citizens differently would be discrimination and violate the laws!

Many countries are doing just that. France is now looking at it for Le Louvre so nothing unique.

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I used the word « looking at it » in my text above. I did not write that it had been decided.

And again foreign tourists are no more forced to go Osaka when they visit Japan than foreigners are forced to go to Le Louvre when they visit France. Same in both cases. Nobody is forced to do anything thanks god.

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Posted in: Osaka Prefecture eyes collecting fixed fee for inbound tourists from 2025 See in context

AntiquesavingToday  10:52 am JST

Rakuraku

Today 10:39 am JST

Another person confusing a tourist site and and accomodations site!

Questions:

If you visit France do you have to visit the Louvre?

If you visit France do you have to find accomodations?

One is a choice you can avoid the other isn't unless you plan on sleeping on the streets or staying with friends or family!

Foreign tourists are not forced to go to Osaka either. I do not see the difference. Actually I think they are better places but again just my personal opinion. The only exception are people traveling on business who do not have choice indeed.

Have a nice day!

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Posted in: Osaka Prefecture eyes collecting fixed fee for inbound tourists from 2025 See in context

sakurasaki

Rakuraku

Many countries are doing just that. France is now looking at it for Le Louvre so nothing unique.

That means France becoming, third world countries.

https://www.abc.net.au/everyday/is-it-reasonable-to-pay-tourist-prices-when-travelling-overseas/11395356

Anyway that place is not longer nice anymore, only in glamorous movie.

https://www.sbs.com.au/news/article/paris-syndrome-culture-shock-sickness-sends-japanese-tourists-packing/t8a332he2

*-1**( +0 / -1 )*

Thanks for you article. Actually it is a confirmation that Le Louvre is already doing it. I thought it was just under consideration.

But I do not see anything in the article saying that France is a third word country because of this pricing differential strategy. They just give examples of developing and developed countries doing it.

Actually many other developed countries are doing it as well.

Several comments saying that Japan (and France in you case) are developing countries are meaningless in my opinion.

Regarding the Paris syndrome it has been described for 50 years. Nothing new. And yes Paris is dirty, polluted, noisy. Public transport are bad with repetitive strikes.Parisian are often not welcoming (people are much better is the countryside) but France is still a beautiful country. For me it is the most beautiful in the world along Spain and Italy. But to each his personal preferences.

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Posted in: Osaka Prefecture eyes collecting fixed fee for inbound tourists from 2025 See in context

@Antiquesaving

Charging for non citizens differently would be discrimination and violate the laws!

Many countries are doing just that. France is now looking at it for Le Louvre so nothing unique.

7 ( +12 / -5 )

Posted in: Japan inflation falls to BOJ target of 2% See in context

ThonTaddeoToday  08:27 am JST

Inflation-adjusted real wages have now fallen in Japan for 22 consecutive months. Was that the target?

Now you see what the BOJ's plan (and really the plan of most of the world's central banks) has been all along, including the relentless propaganda about how inflation is somehow good for the average person. Inflation is good for the top 5-10% who get access to freshly-printed money before prices rise, and who can borrow now knowing that they'll be able to pay their loans back in devalued money later.

Exactly. Massive injection of liquidity makes sense when there is a serious crisis to avoid falling into a depression, as was seen in the 1930s. However, when maintained indefinitely, as Japan has been doing, it tends to enrich the very wealthy at the expense of the average citizen.

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Posted in: Gov't to extend extra ¥100 bil for quake relief in central Japan See in context

AlongfortherideToday  09:03 am JST

I am all for the govt giving money for this but adding to this the trillions of yen he is giving away for military expansion and donations to other countries wars where is all the money coming from? Watch this space, the already ludicrous taxes in Japan will increase. Sadly that will be when I lay off 15 staff and move my operation offshore as will a lot of other companies

Money printing and inflation: Inflation is a type of tax, but the most vicious one, as it is perfectly undemocratic, not being voted on by parliament.

0 ( +3 / -3 )

Posted in: Tokyo stock market reaches uncharted territory, but where to next? See in context

TheDalaiLamasBifocalsToday  11:02 am JST

The only way is down...or up.

ah ah. Exactly . All these economists, strategists, analysts trying to forecast the future are useless. Actually when you speak privately with them they are the first ones to recognize it but these jobs pay very well!

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Posted in: Some LDP lawmakers to attend Diet ethics panel on fundraising scandal See in context

Nikkai can hardly walk and hear. Why on earth is he still in a position of power to start with.

Anyway if he is still able to lead an LDP faction he should be able to appear before this panel!

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Posted in: University of Tokyo to launch new 5-year program with 50% foreign students See in context

Actually Many universities already offer these types of programs (September term, most of teaching in English). To name a few : Keio, Waseda, Sophia, ICU.

5 ( +5 / -0 )

Posted in: University of Tokyo to launch new 5-year program with 50% foreign students See in context

sakurasukiToday  04:51 pm JST

> Fall calendar? How those students supposed to do job hunting, if one decide to find job in Japan? Most of Japanese companies still only follow traditional Spring calendar.

Most of them work for foreign companies which recruit round the year.

And it seems that some Japanese companies have also started to do it.

6 ( +6 / -0 )

Posted in: University of Tokyo to launch new 5-year program with 50% foreign students See in context

sakurasukiToday  04:51 pm JST

The interdisciplinary college of design program, a combination of a four-year Bachelor's degree and one-year Master's, aims to nurture talent to lead efforts to resolve global issues such as climate change, the source said.

To resolve global issues, there so many liberal arts college that said the same thing.

combined Bachelor's and Master's degree program in fall 2027, with half of the roughly 100-student capacity to comprise foreign students

Fall calendar? How those students supposed to do job hunting, if one decide to find job in Japan? Most of Japanese companies still only follow traditional Spring calendar.

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Posted in: Japan, now world's No. 4 economy, on steep road to reverse low growth See in context

SpitfireToday  12:47 pm JST

Not much meaning as mainly due to recent weak JPY.

And why is the yen weak?

Because of the economy. 

Largely because of policy mistake of the BOJ to keep zero rates forever.

They believed it would be good for the economy. In fact it was probably the contrary (zombi companies…etc).

3 ( +3 / -0 )

Posted in: Japan, now world's No. 4 economy, on steep road to reverse low growth See in context

Not much meaning as mainly due to recent weak JPY.

With a USD JPY at 141 (now 151) Japan economy would be larger than the German one again! This type of move can easily happen within a single day!

Only if the ranking is confirmed over a longer term period can conclusion be made.

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Posted in: SDF to soften hairstyle rules as recruit shortage worsens See in context

In Canada military men are now allowed to wear a skirt!

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Posted in: Japan to boost child allowances to tackle falling birthrate See in context

HopeSpringsEternalToday  05:52 pm JST

Immigration this year b/w 2k & 3k/day, as JN domestic population falling about 3k/day, so population mix changing rapidly. Immigrants far younger on avg. than Japan's median age of 50, thus FAR more children etc.

Maybe above another reason Kishida unpopular?

Indeed. This sudden rise of immigration is spectacular and obviously most Japanese are not too happy about it.

Having said that most them are too young to have kids. May be different in the future if they stay. But will they be allowed?

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Posted in: Japan to boost child allowances to tackle falling birthrate See in context

I fully agree that the work culture is very toxic but Japanese people were working even more in the sixties yet they had on average 3 to kids.

I think it is more of a global phenomenon due a change of society values.Even France with its 35 hours work week and long vacations has seen its fertility rate fall like a stone recently (only 1.6 in 1923).

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Posted in: Japan to boost child allowances to tackle falling birthrate See in context

As some said economic reasons probably not the main cause not to have babies. Otherwise how to explain the following fertility rates: 1.4 in Swiss, 1.4 in Luxembourg and 1 in Singapore (1.3 in Japan). If anything it is inversely correlated with having money.

Low birth rate is not limited to Japan but is a global phenomenon . But Japan was a pioneer, 30 years before all countries.

@HopeSpringEternal

No more a fan of Combini than you. Fully agree that 99% « food » sold there is overpriced super unhealthy crap!

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Posted in: Japan to boost child allowances to tackle falling birthrate See in context

HopeSpringsEternalToday  09:57 am JST

Stark reality in Japan's births dropping like rock, even official numbers, (5.8%) & 726K for 2023's inflated. Why?

1) approx. 50K to foreigners in Japan, most will leave

I have a bit higher numbers . According to Immigration Services Agency number number of foreign resident increased by 148 K in 2023. This does not include number of illegal (which overstayed their visa) which is probably pretty high.

Beyond numbers when it comes to immigration what is striking is what can be observed. The situation has totally changed over the past few years. I live in Tokyo and I basically see only foreigners in Combini. In chain restaurants like Yoshinoya it is maybe 70% and rising super fast. In cheap hotel and ryokan 30% to 50%. Foreigners used to work in the manufacturing and construction industry, they are now everywhere in services.

I think that anything faster than that would lead to rejection by the Japanese.

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Posted in: Japan slips into recession, becoming 4th-largest economy, behind U.S., China and Germany See in context

The crazy things is that it is going to be used by the BOJ as a reason to do nothing saying we can’t raise rates because the economy is too weak.

It will mean more JPY depreciation, more inflation, falling real income, falling consumption which represent 70% of the economy, recession. Can’t they understand that what they are doing is part of the problem not the solution.

The Japanese economy face structural issues that can not be addressed by the central bank.

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Posted in: 87% of Japan firms say paternity leave averages less than 3 months See in context

I know a guy who works for one of the three mega Japanese banks in Tokyo and took a seven-month paternity leave. His manager, in his fifties, was quite shocked about it, but the guy had full support from HR, which in Japan, contrary to the West, holds significant power. The bank wants to set an example to demonstrate that they are changing, especially to attract new graduates from top universities, which all companies are competing for these days. It probably didn’t hurt that the guy was highly capable, and the company didn’t want to lose him.

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