New DPJ leader Kaieda starts by criticizing Abe's BOJ policy

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  • -1

    semperfi

    Kaieda's criticism of Abe's BOJ position shows exactly WHY the DPJ doesn't have a clue @ runnin gthe country. . . . .

  • 1

    Yubaru

    Kaieda's criticism of Abe's BOJ position shows exactly WHY the DPJ doesn't have a clue @ runnin gthe country. . . . .

    I do believe you have it wrong big time. The BOJ has to stay independent from the Government particularly when the governments here change so quickly. They may need new people in the policy making decision process, but the national government should not have control over the BOJ.

  • -1

    globalwatcher

    Kaieda's criticism of Abe's BOJ position shows exactly WHY the DPJ doesn't have a clue @ runnin gthe country. . . . .

    That's all NON savers, no money in the bank would say. LOL

  • 0

    semperfi

    globalwatcher: That's all NON savers, no money in the bank would say . . . .my dear chap - - The size of MY equitY ,savings & real-estate value in two countries would boggle your little brain - - ---------------The Position I take on the BOJ has nothing to do with anythin gas self-serving as the satus of my estate - ( which is very ample, BTW) - - - For those who do not understand the implications on trade issues - - IT HAS TO DO WITH Japanese PRODUCTS HAVING A COMPETIVE EDGE ON THE INTERNATIONAL MARKET . . . If we are goin gto save jobs in Japan - including all you ESL workers - - companies have to SELL products . . . . . . . . Countries like SOUTH KOREA and CHINA keep they currencies artifically low . . . and that hurts Japanese busnesses. . . . . . . .

  • 1

    Seirei Tobimatsu

    Public works urgently needed to upgrade safety. Out with the old, in with the new. Do it before accidents take toll.

  • 0

    SS Abe

    People forget that Abe has proven himself as a grade A historical revisionist -- for him, like most in his party, they can make any fact disappear or mutate to match their ultra right-wing narrative.

    For many of us though, the election of Abe induces a sharp sense of nausea -- and sadly, we say farewell to Japan, and good luck, for so many years you were a great place.

  • -2

    globalwatcher

    semperfiDec. 26, 2012 - 08:44AM JST

    IT HAS TO DO WITH Japanese PRODUCTS HAVING A COMPETIVE EDGE ON THE INTERNATIONAL MARKET . . . If we are goin gto save jobs in Japan - including all you ESL workers - - companies have to SELL products . . . . . . . . Countries like SOUTH KOREA and CHINA keep they currencies artifically low . . . and that hurts Japanese busnesses. . . . . . . .

    You ain't gonna fly. You will be grounded. Your thinking is a very short lived wish. It only works until the TPP comes in. What Japan needs is a serious economic overhaul. I am in the Demand Side Economic ideology believing the growth has to start from the middle income families of Japan. The Supply Side Economic ideology, the benefits spilling down from the top to the middle, failed by the LDP. You need to be honest to yourself. Look at a size of shoe size small house for a family of 5. Look at a price of staples in Japan compared to other countries.It is shame how people of the middle income families of Japan have to adjust to make ends meet every day. They are all due to failures of the LDP policies because they were only focusing for the top income business sector. You are not getting enough share for your sweat, tears and hard work. The distribution of wealth is not fairly executed.

    Japan needs a long termf economic overhaul for good. This is a formula in Capitalism as listed below:

    NEW

    Consumer Spending and Investment Spending equating the Economic Growth.

    OLD

    Exporting and Investment Spending equating non Economic Growth.

    Manipulating currency is just a quick fix recipe to jump start economy, but eventually it will bite you back. Currently, DEBT/GDP ration of Japan is 240%. You are exporting products nobody need and want. Your formula only works until the TPP kicks in. Japan's economy does not have a solid ground to be in the TPP. You need to produce products for both domestic and global consumers want and need. Keep it mind, the basic concept of Economics is a Supply/Demand in Capitalism, not by currency manipulation. Enough said.

  • -1

    Dog

    globalwatcherDec. 26, 2012 - 08:35AM JST

    That's all NON savers, no money in the bank would say. LOL

    And ex-Jarheads on a 3 year tour, before they head back, state side.

  • 0

    Dog

    Good post Globalwatcher. Although I think it will be a bit above some poster's head.

    Ultimately the Japanese economic crises has a lot to do with the failings of the general Asian political model, with possibly the exception of South Korea, of top down directives and bottom up compliance. The Asian model doesn't have a problem resolving mechanism.

    When the ruling elite and the ruled share common life experiences and desires, a consensus of direction can be achieved. When the ruling elite, through generations, become entrenched, cut off from the of day to day existence of society and the economic realities of a new age, the consensus can no longer be achieved and everything is trapped in a state of inactivity, and the only solution on offer is the one that worked originally.

    This is where Japan is now and has been for the last 20 years, Singapore will be in 10 years and probably where China will be in 30 years.

    This is why, it doesn't matter who is elected in Japan and this is why, at present, the 21st century will not be the Asian century,

  • -1

    globalwatcher

    Seirei TobimatsuDec. 26, 2012 - 09:56AM JST

    Public works urgently needed to upgrade safety. Out with the old, in with the new. Do it before accidents take toll.

    Agreed. I cannot speak for all areas in Japan, however I notice how ill prepared the "Shutokoo" ,Tokyo metropolitan Hwy, is each year when I visit Japan . It needs to be repaired and upgraded for a better safety and next possible earthquakes. Many high rise buildings are still sitting on 10 inches above the sea level. The web of cable lines are all tangled up in the sky. University Hospital accomodations are not fully converted to the HighTech. They all have to be fixed. I cannot believe Japan is a 3rd biggest economy in the world. Hope LDP is smart enough to know this. Japan does not need any more bridges to nowhere, no more cultural centers being left empty. This is exactly where Consumper spending needs to go for the middle income PEOPLE of Japan.

  • 1

    globalwatcher

    DogDec. 26, 2012 - 11:44AM JST

    The Asian model doesn't have a problem resolving mechanism.

    When the ruling elite and the ruled share common life experiences and desires, a consensus of direction can be achieved. When the ruling elite, through generations, become entrenched, cut off from the of day to day existence of society and the economic realities of a new age, the consensus can no longer be achieved and everything is trapped in a state of inactivity, and the only solution on offer is the one that worked originally

    Very well said, Dog. As former President Bill Clinton once said, "Let's do everything to avoid a situation like Japan. If not being fixed now, we will never get out from the mud. I do not want to be like a PM of Japan."

    I want all Japanese to succeed, but to be honest, I do not believe Japan is ready for the TPP until the foundamental is fixed. The economic model has to become more efficient and competitive that is not there yet in Japan.

  • 0

    Yubaru

    NEW Consumer Spending and Investment Spending equating the Economic Growth.

    How do you plan on getting the Japanese to spend money when an economy is down? While the population holds literally trillions of yen in savings they sure the hell are not going to spend any of it if the economy stays this way.

    And if it gets worse and inflation rises (per Abe's goal) consumer costs for everyday goods and services will go up and the consumer spending will decrease.

  • 0

    globalwatcher

    YubaruDec. 26, 2012 - 01:03PM JST

    NEW Consumer Spending and Investment Spending equating the Economic Growth.

    How do you plan on getting the Japanese to spend money when an economy is down? While the population holds literally trillions of yen in savings they sure the hell are not going to spend any of it if the economy stays this way.

    Yubaru, this is a quick view of macroeconomics in Capitalism. You may want to look at many levels of tax policies, (corporate tax, payroll tax, sales tax, inheritance tax capital investment tax), labor laws, commercial laws, zoning,....the list goes on. And that's where micro economics kicks in.

  • 1

    globalwatcher

    This is exactly where Consumper spending needs to go for the middle income PEOPLE of Japan.

    My bad.My error. It should read "This is exactly where Government Spending needs to go for the middle income PEOPLE of Japan".

  • 4

    kchoze

    Globalwatcher, I'm also what you would call a demand wider, and I do agree that you need strong demand growth from the middle class for sustainable economic growth. However, I think you make a major mistake by not considering the strength of the Yen and Japanese economic competitiveness. If you get the Japanese middle class to spend a lot, but Japan itself is uncompetitive, then that means that they will be buying foreign products instead of japanese products, this would create a huge trade deficit. When there is such a trade deficit, the results is that you are basically consuming by calling more and more into debt. That is not good and it is unsustainable, even if this may seem to go well while it lasts.

    Economies can atrophy, if you let the Yen be too strong for a decade, leading to the collapse of much of the manufacturing sector because of global competition, then the japanese manufacturing sector will atrophy. The infrastructure that allows it to prosper will fall into disuse, the expertise will vanish, etc... You need an industrial cluster to compete well globally, if the cluster disappears, the result will be disastrous.

  • -4

    smithinjapan

    Won't be long before the usual call for resignation.

  • 1

    bajhista65

    This is how Politics goes anywhere in the world. When DPJ was ruling, LDP criticized and vis-a-vis. Thats the problem with politics. Instead of uniting and helping each other for the benifit of their own country and countrymen, the defeated party and oppossition start digging and making the seated ruling party look bad in everyways.

  • -1

    JoeBigs

    "New DPJ leader Kaieda starts by criticizing Abe's BOJ policy"

    Gee what a shocker Prime Minister Abe's political rival critizing him after the LDP drubbed Mr Kaieda's inept PRC kowtowing party.

    Mr Kaieda and his party are all but dead and in my book that is the best thing that could have happened.

    Oh wait, correction, the best thing that happened was Ms Tanaka was booted from office. The second best was the rest of the DPJ getting the boot.

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