politics

GDP data make-or-break for snap election

16 Comments
By ELAINE KURTENBACH

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16 Comments
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Raise the consumption tax and people spend less. They spend less and the economy dips.

Surely, severe cutbacks are what is needed.

Too much money is spent on things that don't produce income. Government overspending, "Sympathy Budget" (protection money) to the U.S. Military. Useless public works projects, such as digging the roads up and then filling them in again, and many large scale projects.

Abe has consistently failed to deal with this, he either needs to go and let someone take over who has some basic business sense or take a crash course in economics.

I suggest the former.

9 ( +11 / -2 )

Protection money to us military ? So they stop that and spend on their own defence, digging up roads and filling them in again is for a reason, usually to repair or lay something, you think they do that because they have too many spare shovels?

Their is wasteful spending in govt of course but what you mention is not wasteful.

The single biggest expense is social security, and that is only going to increase

-6 ( +1 / -7 )

StormR, Sympathy budget is additional part Japan is paying as sympathy (Omoiyari), which is out of Japan-US treaty.

-4 ( +1 / -5 )

Voters are suspicious. How about decide changing sales tax rate to 5 % for at least 10 years? Then Japan will never give out Sympathy (Omoiyari) funds to far Away countries?

1 ( +4 / -3 )

toshiko, "Sympathy budget" is not for far away countries, it is the name of a budget Japan pays to US military as sympathy in addition to the main payment.

-2 ( +3 / -5 )

Bertie - I think you need to find some middle ground.

-1 ( +0 / -1 )

Omoiiyari fund was paid to Ukline. I am writing about fund, not budget.

0 ( +0 / -0 )

Snap elections are totally non democratic and should not be allowed. Citizens should be given at least 3 months to hear the politicians who should be required to present their agenda and non retractable promise of what they will stand for if elected.

4 ( +4 / -0 )

@StormR Japan waste way to much money on rural projects that are only there to give them jobs, Japan does need any more hwys the money would be better spent on the ones that are getting old and need replacing, tunnels/bridges etc. public servants need to be cut, ive lost count how many times ive been into governement buildings and see workers with nothing to do. Everything needs to be done in pairs or more in Japan, its like people are lost if they havent got somebodys hand to hold when they do something

4 ( +4 / -0 )

Abe has said many times that he would wait until the GDP figures were published before making a decision about the consumption tax, but it seems he has already decided to take the easy way out and postpone the increase until he has left office. This shows him up for the dishonest, opportunistic charlatan that he is.

Abenomics has failed and the man it is named after is also a failure. He shirked every tough decision and all we got were the usual LDP spending and waste. Yet the people will vote this clown back in again. Amazing.

1 ( +2 / -1 )

Scrote, yeah, except it's not amazing as there is no opposition and a heavily rigged voting system. Abe is a dreadful politician, an awful statesman and a terrible leader. He was a hopeless PM in 2007 and is even worse now, but none of this matters because rural elderly constituents will re-elect him however awful he is.

There was any Abenomics, there was only typical LDP "stimulus" (waste) and QQE to weaken the yen. Now he will call a snap election, which he can't lose, and will use the result as a mandate for more of the same.

2 ( +3 / -1 )

Where was the decision made?

0 ( +0 / -0 )

Abe thinks he has to hold a snap election because his puppet in Okinawa, the turncoat Nakaima is about to be THRASHED. Right now there are 8,000 Onaga supporters in a huge demonstration in front of the Kencho in Naha.

Abe has lost in Okinawa and he has lost the battle for Henoko. He has lost the support of the U.S.A. too.

If he allows the election to be held at its proper time, he will suffer certain defeat. The next tax hike cannot do anything BUT further depress the economy and in December his "Secrecy Act" is to be enforced.

Abe is clutching at straws.

0 ( +1 / -1 )

Another one will bite the dust. After departing Japan after so many years, I can tell you want thing, it is not as bad as it looks. You can always survive somehow. Main thing is to build positive relationships. Here in the States, they tax you to death. Just learned that they have a property tax on the car. So, it is not a flat tax like the tonnage tax, it is a percentage of the value of the car, and it is annual. So, for a car that costs about 25K, expect to pay about $1,500/year for the first year. As the car depreciates, the tax goes down. I have not seen any grocery stores where there is hangar, (half price of the cost). And a decent meal will cost over $20.00, or 2,000 yen. But, part of my mission is to increase my retirement annuity, and maybe someday I shall be back like MacArthur. For the meantime, continue the shoo ga an, and enjoy the good things in Japan, of which there are plenty.

1 ( +1 / -0 )

Raise taxes eventually but for now buy time. Better stoke consumer confidence now then shove down inevitable down their throats. If consumers feel financially somewhat secure, tax pain will be easier to bear. Good Luck and don't go back to disfunctional Japanese government.

0 ( +0 / -0 )

tinawatanabeNOV. 12, 2014 - 12:30AM JST

The economy is much better now.

Oh really?

The nation’s gross domestic product in July-September decreased annualized 1.6 percent, according to the Cabinet Office.

The Cabinet Office said Monday in its preliminary report the GDP declined 0.4 percent from the previous quarter in price-adjusted real terms for the second straight quarterly decline. http://the-japan-news.com/news/article/0001724963

Two years of that morally bankrupt, intellectually void seshu giin imbecile, doing the same things the LDP always do, and that's the result.

-1 ( +0 / -1 )

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