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© (c) Copyright Thomson Reuters 2014.Fitch expects to downgrade Japan after next fiscal year's budget
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jerseyboy
True. But the other side of the coin is that Japanese folks don't spend, and very rarely use credit, so getting the domestic economy ramped-up is difficult.
sfjp330
jerseyboyDec. 13, 2014 - 07:12AM JST True. But the other side of the coin is that Japanese folks don't spend, and very rarely use credit, so getting the domestic economy ramped-up is difficult.
Compared to decade ago, Japan has 40 percent of the people working part time. It's not that they don't spend, they just don't have disposable income. Even if you have full time position, the increase in wages are not happening for most people. In a few more years, half the working people in Japan will be part time. Future does not look bright.
some14some
No need to wait and watch, be the first one and downgrade Japan now, you'll never go wrong.
nath
I don't see any comparison in that sentence.
kurisupisu
All gloom and doom? Not for long. There is still the immigration card to be played! At present, the eople here in Japan are grudgingly taking their tax hike medicine all the while the rich boast about making millions of yen on their stock deals! Don't like it but 'there's no alternative'..... Even now the school books in the Primary and Junior High Schools are becoming replete with stories and skits of Chinese and Mongolian fables.More and more the 'trainees' in 7-11 and staff in restaurants are serving the customer in Japan. The greedy politicians will instigate immigration into Japan as it means more money for them I am being granted PR on my next visa application here without any initiation on my part - I wonder why? Expect the news to be broken to the general Japanese populace when Abe gets his next four years....
nath
sfjp330 Dec. 13, 2014 - 07:53AM JST
And added to the problem is the fact that nearly none of those part-timers are contributing into the national pension scheme which not only leaves them with NO pension at retirement age but also is allowing the system to be depleted in increased fashion as the baby-boomers are now retiring. They are creating a huge welfare class of retirees which will have to be addressed but NOBODY talks about this!
The best thing to do is amend the laws and require ALL workers and employers to contribute into the system no-matter their income level and this should extend to the National Health Care System as well. But don't expect this topic ever to be raised by any of the mainstream political parties.
Azzprin
Could be worse.
In the UK we pay 20 perecent VAT (Value Added Tax) which is our version of your sales tax.
mr_jgb
Yen 1,000,000,000,000,000,000 of JGBs outstanding, with new annual new issue of Yen 80,000,000,000,000 and BOJ is buying all of them. Japan may become a poor, impoverished country like Argentina, though not Zimbabwe. "Buy paper, buy wheel-barrows"...remember Japanese banana currency notes during the War?
DVDexpert
Japan's debt is over a quadrillion yen and increasing = downgrade.
CoconutE3
Credit downgrade or not, fiscal prudence is important to any country. It's a fair warning to Japan to get fiscal house in order. Good Luck.