Thursday May 24, 2012

JAPAN NEWS AND DISCUSSION

Finance minister wants BOJ to act on strong yen

Business Oct. 26, 2011 - 05:00PM JST ( 19 )

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19 Comments

-5

JapanGalOct. 26, 2011 - 12:40PM JST

The only additional monetary easing can be done is to pay people to borrow money.
0

BluebrisOct. 26, 2011 - 12:46PM JST

Ask him to wait until after xmas when I go to the UK
1

WeaselOct. 26, 2011 - 12:49PM JST

Less action and more talk please.
0

ironchefOct. 26, 2011 - 01:44PM JST

Personally it is great for me whenever i go overseas with the strong yen, and I don't work for an exporting company.

As the other previous finance ministers goes, you can't keep putting band aids on this problem and intervening and manipulating the market. The fundamental problem of the lousy Japanese economy and corporate philosophy needs to be fixed first. Overthrowing Olympus is a good start.
0

naruhodo1Oct. 26, 2011 - 02:27PM JST

Little do they know, the more fuss they make about it the more of the opposite effect happens. Sure intervention will work for a week, in which i will sell my US dollars held in my UFJ account that i bought at 77 then sell when it hits 81 or 82 make a few hundred (not rich enough yet to make thousands but definitely in the high hundreds) then buy US again in a few months when it goes back to 77 or 76 or if im lucky 73. I bet those rich people are deliberately causing this fuss to play out the scenereo above.
0

kurisupisuOct. 26, 2011 - 02:33PM JST

Start making some better jobs in Japan and watch things get better.

Part of Japan's problem is the desire to hang onto factory jobs which pay an average of 1000 yen an hour. The downside is that there are workers in China doing the same jobs for 100 yen an hour!

Japanese companies have lost competitiveness against a more lowly paid workforce.

Japan is fighting a losing battle against big brother.

Upgrade education by pumping money into the stated sector:stop turning out drones but people that can think and create!
-1

naruhodo1Oct. 26, 2011 - 03:07PM JST

Kuri, its a great idea in regards to education. Unfortunately, we need a few more years before all those frikn stubborn baby boomers retire and or die and get out of the board. 10-15 years japan. Hang in there!!
0

TatankaOct. 26, 2011 - 03:19PM JST

Welcome the the Asian Switzerland. Besides the asaid forementioned country, Japan is the only other currency that has perceived value. With the American and European economies in the crapper and the Chinese renminbi not worth the paper its printed on, everyone is flocking to the Swiss franc and Japanese yen. A year from now, expect the yen to be in the 65 to 68 range...
0

genki5Oct. 26, 2011 - 03:44PM JST

My pay in US$ is becoming more like Monopoly Game money here in Japan everyday!! Aaaaaggghhhhh!
0

namabiru4meOct. 26, 2011 - 03:58PM JST

The decisive action stated last week by the BOJ is really working out, isn't it!!!
0

gogogoOct. 26, 2011 - 04:37PM JST

more talk... he is just shifting blame
0

j4p4nFTWOct. 26, 2011 - 05:11PM JST

A currency exchange rate is a very important thing for any country. Currently Japan is troubled by the strong yen, which is a situation unjustified by Japan's economic fundamentals. We see speculators moving their money, hoping that the yen will continue to strengthen. One major problem is that the currency of China is not allowed to be traded freely.

Japan's Ministry of Finance knows that they are essentially powerless against the amount of money being traded. But why they continue to try the strategy of speaking out against the strong yen is interesting. I suspect to non Japanese it is a very difficult thing to understand.
0

southsakaiOct. 26, 2011 - 05:16PM JST

When will this end? All my earnings are in USD :((( oh man talk about being in Japan at the wrong time. Anyways I will be a millionaire soon so not that much very worried.
0

kurisupisuOct. 26, 2011 - 05:25PM JST

Japan is powerless to stop the appreciation......
0

cactusJackOct. 26, 2011 - 05:39PM JST

I don't know how a government could completely reverse the value of their currency without spending an exorbitant amount of money.
0

yawaraOct. 26, 2011 - 09:20PM JST

charge customers 2% for keeping money in the bank , that will work
0

ExportExpertOct. 26, 2011 - 11:34PM JST

cactusJack

I don't know how a government could completely reverse the value of their currency without spending an exorbitant amount of money.

Pretty easily actually Jack all they need to do is print large amounts, then watch the arse fall out of it much like the U.S. currency
-1

SerranoOct. 27, 2011 - 07:09AM JST

Who would actually exchange a dollar for only 75 yen?
0

SerranoOct. 27, 2011 - 07:11AM JST

Yen holder: Here's 75 yen, give me a dollar.

Dollar holder: Ha ha ha ha ha ha ha ha ha

This is the way it should be, but for some strange reason it's not.