JeffLee's past comments

  • 3

    JeffLee

    This is to benefit Japan's corporations. Japan has very strict rules on procurement for its overseas assistance, namely that the work must by done by Japanese contractors.

    As I say so often: corporate welfare has never been greater.

    Posted in: Japan ups ante in race to boost influence in Asia with cash

  • 0

    JeffLee

    "Bush to his credit with Gen. Petraeus launched the surge which turned everything around and was hailed a success."

    But utterly unsustained. Which makes it a failure. A "surge" is a pattern that rises quickly, and then just as quickly peters out. That's NOT how insurgencies are won.

    Posted in: IS militants slaughter collaborators after taking Iraqi city of Ramadi

  • 0

    JeffLee

    "Once Japan starts running current account deficits, Japan becomes like Greece and is dependent on finance from the international markets for funding and the international markets determine bond yields."

    I'll be holding you to that astonishing prediction.

    Posted in: Finance Ministry draft reveals deep rift on fiscal reform

  • 2

    JeffLee

    "You said Abenomics will work and others said it wouldn't.. they seem to be right...excuses aside."

    "Right", indeed, Great call you guys on your predicted bond crisis/sovereign debt default. Such astounding insight.

    Well, the policy that didn't "work" was actually the tax hike, and not the 3 arrows of Abenomics. In fact I have been anti tax hike all along, and warned beforehand that the tax hike would reverse the gains, and yep I was right. While the others (the ones who "got it right) rabbited on about all the supposed risks from the fiscal debt. Which naturally.... haven't materialized. But, oh, they're right, of course. Too funny.

    Posted in: Japan's economy grows 2.4% in first quarter

  • -1

    JeffLee

    "I'm not saying Globalwatcher and Dog have been proven right, but it sure is looking that way"

    Ah, you must mean Japan's sovereign debt default, the loss of confidence in its financial markets, skyrocketing interest rates, etc. Yeah, those guys were right on target. LOL.

    "Posters like Jeff Lee and Nigelboy were defending the future prospects of Abenomics."

    Yep, it was working...until the consumption tax hike, which was NOT Abenomics, dragged it down. That decision was made with the previous administration. None of the 3 arrows calls for higher taxes.

    Posted in: Japan's economy grows 2.4% in first quarter

  • -1

    JeffLee

    "GDP figures are out tomorrow at 8:50 and I am certain they'll be bad."

    You are badly wrong, once again. 2.4% annualized growth massively beats expectations.

    sjp330 "Hedge fund failures have stemmed mainly from errors that were not of their own making."

    Except the huge number who gave their portion of their funds to Madoff. MAN, the biggest alternative investment firm, did this. And they got bank loans? What about the principle they collected from the investors? Clearly, they headed into risk levels they couldnt handle. Its their fault.

    The point made by the free marketeer poster was that if bankers or fund managers make mistakes they are punished. Nothing could be further from the truth. Not a single wall street firm would be alive today if not for the govt bailout. and none were arrested.

    Posted in: BOJ chief economist says Japan likely to shift to expansionary phase

  • 0

    JeffLee

    "If I were a private banker or trader, and was using such math to convince consumers to invest in my services or funds, I could be punished for misleading them."

    "Punished"?!? Are you joking? You'd be bailed out by Washington, as what actually happened. A vast range of hedge funds and other products in the 2000s missed their advertised target returns by a long, long shot.

    Those "punished" were the individual investors. I know, because I bought a couple of such products! The IFAs and fund managers raked in their multi-layered fees and commissions nevertheless.

    Posted in: BOJ chief economist says Japan likely to shift to expansionary phase

  • 1

    JeffLee

    This is one of the main reasons why developed countries cant grow like they used to. Workers with no job security tend to spend a lot less, dragging down the economy overall.

    The money instead is behind hoarded by wealthy corporations, hence the authorities are forced to roll out loose monetary policies in desperate hope they can get the money circulate. It's a cycle of doom, folks.

    Posted in: ILO says only one-fourth of the world's workers have solid jobs

  • 1

    JeffLee

    No roof, eh? Let's hope it rains heavily on opening ceremony day. Or a typhoon.

    Posted in: With time running out, Japan to scale back stadium for 2020 Tokyo Olympics

  • -1

    JeffLee

    "slowly recovering from a surprise recession last year"

    "Surprise"? Only to those who don't understand how stimulus is supposed to work. I predicted the tax hike would hit growth hard. So did many others, like Krugman.

    Posted in: BOJ chief economist says Japan likely to shift to expansionary phase

  • 1

    JeffLee

    "For example, their parents might have been locked up in Reagan's 'war on drugs' "

    Or more likely, bereaved family members of the 240 US Marines who were blown up in Beirut after Reagan sent them there on a suicide mission.

    Posted in: U.S. Navy's Japan-based aircraft carrier heads home

  • 2

    JeffLee

    "Jeff, you know full well that the TPP is not about "broadening" the supplier base,"

    I'm no fan of the TPP, but you gotta admit, when you walk into a small town Canadian supermarket in the depths of winter and see a stacks and stacks of affordable tropical fruit from Florida and Mexico, you don't get the impression the country is suffering in terms of a "stable food supply" or "the right to live" due to NAFTA.

    Posted in: The TPP could violate the Japanese right to get a stable food supply, or the right to live, guaranteed by Article 25 of the nation's Constitution.

  • -1

    JeffLee

    @M3M3M3

    "Adopting the Euro was not a prerequisite to doing business in Europe."

    Whereas being an EU member is a prerequisite for doing business in Europe? Yeah right. Tell that the Japanese and Koreans.

    You dont seem to realize the massive brouhaha by "the experts" at the time over the Euro. Its adoption wasn't just about a single currency but a converged monetary system and policy that would set the stage of 21st century financial transactions.

    This was supposed to create huge efficiencies and symbiotics. And English banks still using old-fashioned pounds and pence were predicted to lead to the decline of London as a financial center.

    I recall a car executive at Mitsubishi in Belgium in the 90s relating his woes to me. When I look at my notes now, I realize that everything he said on the topic was wrong. And this was the conventional wisdom at the time, which is also the conventional wisdom now.

    Posted in: Uncertainty over UK role in EU could choke Asian investment

  • -2

    JeffLee

    They said similar things when the UK refused to join the Eurozone. And...they were wrong.

    Posted in: Uncertainty over UK role in EU could choke Asian investment

  • 0

    JeffLee

    Is it just me, or do others find in-ear headphones a painful - and likely dangerous -- ordeal to wear. Whenever I insert them, take them out, or turn or move my head, they create blasting sonic distortion from the friction caused by the sticky silicone rubbing against the highly sensitive tissue right outside my eardrum. The boom goes right thru my head.

    And the earpieces never fit. They're standard sizes and they really need to be custom made, like hearing aid kits.

    Posted in: In-ear headphones and headset designed for high-res audio

  • 2

    JeffLee

    Surely broadening and opening up your supplier base only enhances a "stable supply" of food?

    The "right to live"? Is he talking about TPP death panels? LOL.

    Posted in: The TPP could violate the Japanese right to get a stable food supply, or the right to live, guaranteed by Article 25 of the nation's Constitution.

  • 0

    JeffLee

    "Are these countries you mentioned have low birth rate?"

    Higher than Korea, Japan, China, etc. It should also be noted that Malaysia's birth rate is below the replacement level.

    Posted in: More than 800 migrants land in Indonesia, Thailand in growing crisis

  • 1

    JeffLee

    "Hope UN will ask some countries thar have shortage on workers or declining birth to rescue these refugees"

    Only if the countries are in Western Europe, North America (excluding Mexico), Australia or New Zealand. All other countries for all intents and purposes are exempted from this happy little arrangement.

    Saudi Arabia, for example, is wealthy and empty, and has hardly any local workforce. Yet it resolutely refuses refugees, summarily deports the Somalians who do arrive, nor does the UN or anyone else put any pressure on it to accept any.

    Posted in: More than 800 migrants land in Indonesia, Thailand in growing crisis

  • -2

    JeffLee

    "The poor young folks who will be working their whole adult lives simply to pay off the debt their parents and grand parents accumulated,"

    A complete myth. Maybe for Greece or African countries, which borrowed in currencies they don't print. Can't happen in Japan, (barring a coup by ignorant "sequester" politicians).

    Posted in: Cerberus cuts back Japan operations amid lack of targets

  • 1

    JeffLee

    "If America is "Number One" why is our infrastructure so poor. USA! USA!"

    America has the best freight rail system in the world.

    Posted in: Amtrak train was traveling at twice speed limit before it derailed

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