Support for Abe rises to 66.7%

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  • 0

    marcelito

    Guess the masses haven't yet fully felt the effects of " Abenomics" on their hip pockets. Once LDP,s prized goal of inflation translates into higher prices of everything and the only beneficiaries are the big companies it might change their minds. Take a look at the price of gas at your local station.

  • 0

    gaijinfo

    Those that forget history are doomed to repeat it. And with a whole generation of Japanese completely and purposely mislead regarding their own history, they're getting set up to do EXACTLY the same thing.

    Japan launched a massive money printing campaign in the 20's and 30's, which led to tons of military spending, and when the government tried to reign in the hyperinflation, the military (backed by raving nationalism) took over, and that was that.

    Only back then their neighbors were weak and ripe for the plucking. Japan tries any of that foolishness today, and they're gonna get squashed like a bug.

  • 0

    Mirai Hayashi

    I'm curious to see what the demographic breakdown is. I can almost bet that at least 80% of that 66.7% is over the age of 60.

  • 0

    Hide Suzuki

    @gaijinfo

    If you actually think today's Japanese people try to attack other countries then you live in a fantasy dream land. Have fun in your imaginary world.

    Can't believe some people equate 4.7% increase of prime minister's approval-rate to WWII lol,

  • 1

    nikkeiboy

    I'm pretty sure that most PM in the past have had similary support ratings after 1 month on the job. People support them which is why they were elected in the first place. It is usually after 3 months where this number starts to go down.

  • -1

    Wakarimasen

    They don't call him "Honest ABe" for nothing.

  • 3

    LuckyLangers

    In Japan, the national debt is seen topping ¥1 quadrillion by the end of March 2013. A policy of money printing pursued for a decade has failed abysmally and now politicians look set to pursue currency debasement in an even more aggressive manner – with attendant consequences.

    The hyper-correlation of Japanese stocks and the JPY have led many to believe that Abe's miracle promise will be just the ticket to bring the nation's two-decade slump to an end - a 2% inflation target is all you need.

    However, in a brief CNBC interview, Kyle Bass explains that not only are 99.9% of people wrong about the crisis (explaining the critical aspect of the abrupt turn of twenty years of the 'procylicality of thought' - that deflation is the norm), but Abe's actions have actually brought forward the date of the "detonation of Japan's Debt Time Bomb.

    It is the Japanese institutions that own JGBs and they own them at meager rates of interest simply because of the ingrained belief in deflation; when the government begins to target 2% inflation, the swing in forward expectations (he notes to monitor inflation swap breakevens) will be the trigger for Japan's implosion.

    Bass warns that "Japanese debt is around 24x central government tax revenue and when you sail into the zone of insolvency, nothing you can do will help," though he realizes that calling the end of the 70-year debt super-cyle to a specific date is naive, he does expect the 'bomb' to explode within 18 month to two years.

    All of the components for this [bomb] to go off 'all of a sudden' are in place. The clock has started on the qualitative shift in participants' minds that the situation is untenable as the realization that Japan spends 25% of revenue on interest now - and with higher rates (via this supposed inflation) the entire situation becomes farcical as every 1% rise in their cost of capital (or rates) costs them another 25% of revenue!.

    On JPY devaluation - The signs are already there that elites are exiting the JPY - with recent M&A transactions - he warns. 20% of exports go to China; this could be halved given the tensions, and a JPY devaluation is not going to restore the competitiveness of that secular decline.

    On Japanese stocks - The people buying Japanese stocks, are picking up dimes in front of a bulldozer.

  • 1

    warnerbro

    "63.3% backing the government’s handling of the Algeria hostage crisis, in which 10 Japanese nationals were killed."

    The government's WHAT of the Algeria hostage crisis? I would hardly call send a plane to pick up the dead "handling." It failed to do what the Japanese government usually does, pay huge ransoms, because the Algerian government had other ideas.

    See the article on “relaxation services.” That's what Abe is providing and his services will prove just as productive.

  • 1

    kchoze

    Abe is giving the impression that he is doing something. I think a lot of people don't know the details of what he is doing, but the feeling was that Japan was doing poorly and that the previous government was just doing some internal bickering and rearranging the chairs on the deck of the Titanic with minor policy changes. Abe is doing something, and something major.

    Will it succeed, will it fail? At that point, people will make up their minds on whether he did good or bad. But for now, he is doing something and they credit him for trying.

  • -2

    Thomas Anderson

    I'm curious to see what the demographic breakdown is. I can almost bet that at least 80% of that 66.7% is over the age of 60.

    Probably mostly corporations, who are benefiting the most from the weaker yen.

    63.3% backing the government’s handling of the Algeria hostage crisis, in which 10 Japanese nationals were killed.

    Ok? Great Success. Not. If the same thing were done by the DPJ then their approval rating would have plummeted.

  • 1

    malfupete

    debt of 24x tax revenue, 25% of current tax revenue being paid on interest! amazing..

    but they can just print themselves out of debt while selling cars and tvs to the chinese right?

  • 0

    Monica Buuruke Matuszak

    In 2009, they did a poll on young generation, only 51 percent in their 20's planned to vote. Seems like nothing changed. They sincerely believed that their votes won't make a difference... They are either confused or have little confidence. Do your homework and stand for yourself. Because their voices are not heard, it has been the same since 1955. And with the birth rate hitting so low, it's no wonder they're outnumbered by the conservatives. Take action now, kids.

  • 0

    Scrote

    66.7% of people support Abe's government, but only 37.2% will for the LDP in the next election. These polls don't make much sense to me. Before the election only about 20% said they liked the idea of an Abe government, now lots more people suddenly think he is great. It seems that around 40% of the people they ask in these polls haven't got a clue, which makes the results meaningless.

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