JeffLee's past comments

  • 0

    JeffLee

    @fxgai You might be surprised to learn that the govt doesn't WANT investors buying so many of its bonds. It wants them to take on more risk and shift into Japanese equities, as a way of generating more productive economic activity.

    One year ago, in fact, the world's largest pension fund, Japan's JPIF, re-weighted its purchases away from JGBs. According to the ripe imagination of that foreign securities guy, that should have been a massive "shock" and "deterioration in the "market functions." So.... where was the crisis then?

    "I don't know that the talk lately is due to jealousy at all,"

    Europe is also recovering, but at a slower rate than Japan and US. They just announced they would loosen their monetary policy further.

    Posted in: Inflation may have beat BOJ forecast: Kuroda

  • 0

    JeffLee

    Japanese robots are great at bowing. They're not so good at locating missing airliners or clearing debris from radiation-spewing nuclear plants.

    Posted in: Robot diplomacy

  • 1

    JeffLee

    What happened to the all the doomsday predictions by the austerity crowd that less Japanese bond purchases by this fund and others would sent the cost of Japan's debt servicing skyrocketing, triggering a sovereign debt default?

    Yet another prediction proved wrong, eh.

    Posted in: Japan overhauls public pension fund

  • 0

    JeffLee

    "This suggests there is a limited probability that he would go nuts and finance the government's excessive spending in it's entirety"

    A tiny, tiny probability. The monetary stimulus is still churning away, and the BOJ is fully committed to it. Ain't no tapering here!

    The Europeans, jealously watching the success in this policy by the Japanese and Americans, have just recently announced that they too will be ramping up their monetary stimulus.

    Posted in: Inflation may have beat BOJ forecast: Kuroda

  • 8

    JeffLee

    "Lax security comes from Japan not being violent enough."

    US Ambassador Reiscahuer was stabbed in Tokyo by a Japanese guy in an assassination attempt, and later died of complications relating to the attack. Japan can indeed be "violent."

    Posted in: Lost codes spark airport scramble on eve of Obama's arrival

  • 1

    JeffLee

    I would ask why his critics - who predicted his policies would lead to certain economic collapse, sovereign debt crisis, a failed healthcare program, stock market collapse, debased dollar -- have been so consistently wrong, and thus maybe the president can now afford to take some smug satisfaction. Yowzee!!

    Posted in: If you could meet U.S. President Barack Obama during his visit to Japan this week and ask him just one question, what would it be? Sensible questions only please.

  • 1

    JeffLee

    "So, great, in your opinion, your travel is more worthy, necessary, and fulfilling than someone else's."

    Wrong again. People, anyone, in an affluent, developed country like Japan should not be forced to limit their major travel period to 3-4 days(!) due to a set of archaic laws and/or employment practices.

    Especially when the gov't in question is bragging to the world about its commitment to reform.

    Posted in: Train companies, airlines expect mixed Golden Week

  • 0

    JeffLee

    "Do your flights use different fuel or something?"

    Yeah, the "or something" is that when I book a medium- long-haul flight for travel, I make sure it's for a decent length of time. What's the point of paying 150,000 yen for a trip for 3 or 4 days? That's like 50.000-60,000 yen per day just for getting there and away. And don't tell me it's because Japanese "want to" or "choose to" have things this way.

    No, it's the system, man, a system that the authorities have literally written into law (see above) and is additionally codified in employment conditions and contracts.

    It's funny how people in Japan prattle on about "reform." And yet this egregious misallocation of resources, rooted in a postwar mindset, is actually defended by people here. I mean...come on.

    Posted in: Train companies, airlines expect mixed Golden Week

  • 0

    JeffLee

    "I find it incomprehensible that this family have been in the White House for so long without being ousted."

    I know why: a recovering economy, booming stock market, shrinking deficits and a growing number of Americans getting health insurance. Presidents tend not to get "ousted" then those things happen.

    If you find that all "incomprehensible," then maybe it's time to get a new worldview, one that makes sense.

    Posted in: Michelle Obama's absence likely to be felt in Japan

  • 0

    JeffLee

    @G.MAL.O.Q:

    I feel your pain. There's a whole worldview based around this ignorance of how the monetary system works.

    I believe it started with pundits calling QE "money printing" because the phrase could fit into headline space. It's a figurative expression, and a misleading one at that, but a significant number of people now take the expression literally.

    Ask them why after 14 years of QE Japan ends up with deflation, as opposed to the "hyper inflation" they predicted, and they go off in all sorts of bizarre directions. Yet they will never admit they were wrong and they continue to grasp onto a worldview that has given them nothing but predictions that never materialize.

    Posted in: Japan's trade deficit quadruples on-year in March to Y1.45 tril

  • -5

    JeffLee

    "State-ordered?! They're called National Holidays for cripessake."

    They are state ordered. The holidays under "Golden Week" are designated under the "National Holiday Laws"....for cripessake. The previous administration had planned to amend the legislation, to give individuals more freedom in choosing their holidays and avoiding the intense congestion and other problems. Call me weird, but I'd prefer to choose my own holidays rather than having the state choose them for me.

    "It's not about you."

    It sure isn't! Everyone in Japan -- businesses, academia, you name it -- is forced to put up with this nonsense.

    Posted in: Train companies, airlines expect mixed Golden Week

  • -6

    JeffLee

    "My company flew 5 execs from the US over here last week."

    I'm talking about a state-ordered vacation period affecting nearly the entire nation. You're talking 5 people on a business trip. Nice try. LOL.

    "Japan is made up of a very regionally and culturally diverse population"

    Outside of Okinawa, Japan is not "culturally diverse."

    Posted in: Train companies, airlines expect mixed Golden Week

  • 2

    JeffLee

    It depends on the priorities. Japan tends to stress its exports while it expects more and more of its nukes to come online. So it generally wants a weak yen.

    Posted in: Japan's trade deficit quadruples on-year in March to Y1.45 tril

  • -5

    JeffLee

    "Guess what, the people choose to do what they want,"

    "Choose"? Haha, good one! Individual Japanese workers have a "choice" in the matter?! Sorry, but that's not what Japan's national holiday system is all about. It's all about removing individual choice when it comes to vacation periods.

    "Do you dislike Japan so much you have to criticize their holiday taking habits?"

    Yes, to the second point. My clients are mostly Japanese, so their ridiculous "holiday-taking habits" do have a direct impact on my workflow, income, etc., not to mention all the exorbitant air fares, massive congestion, etc. I'm expected to endure during the affected periods.

    This all amounts to a very poor allocation of resources. If you're gonna book a long flight at an expensive airfare, then make the most of it. It's just common sense.

    Posted in: Train companies, airlines expect mixed Golden Week

  • -10

    JeffLee

    "reservations for short overseas trips are up"

    Such a sad waste of resources, to burn 100,000 liters or so of jet fuel per round-trip flight so that Japanese tourists can get away for a mere 3 or 4 days.

    Posted in: Train companies, airlines expect mixed Golden Week

  • -1

    JeffLee

    "Right now businesses are hoarding money because they see the risk of getting a return is too high."

    Gimme a break. If they can't get a decent ROI, then they're complete idiots. My investment portfolio has doubled in value since 2009, and I'm no investment specialist.

    Their cash hoarding is due to the highest corporate profits and widest profit margins in history, and also the fact that gov'ts are buying their treasuries and other instruments at unprecedented rate, leaving them flush with cash. The central banks have also furnished them with record-low interest rates, so their cost of capital has never been cheaper.

    So boo-hoo, cry me a river.. for the senior execs and their top stakeholders, who are getting richer and richer and richer and richer.

    Posted in: Cash-rich global firms face calls to crack open war chests

  • 2

    JeffLee

    Good story. This is the real reason our economies aren't growing faster. Govts have been bailing out and giving easy credit to the corporate sector, which has never been richer or greedier.

    It's pathetic that our govts and central banks and bending over backward for these billionaires. Time to hike the corporate tax.

    Posted in: Cash-rich global firms face calls to crack open war chests

  • 5

    JeffLee

    Con: oversupplying the labor market with people willing to work for lower wages, thereby depressing wages overall. That's one factor why real wages have stagnated, if not declined, in Western countries. Also, especially high rates of unemployment during downturns.

    Posted in: The Japanese government remains cautious about addressing the population decline and labor shortage by accepting immigrants. What do you think are the pros and cons of Japan accepting more immigrants?

  • 11

    JeffLee

    This is crazy for a 2 1/2 day stop by one leader. I mean, let's be real.

    Posted in: 16,000 police mobilized to protect Obama

  • -6

    JeffLee

    "Great! Go, go Japan! :D"

    It seems you read the headline and not the story. It says Japanese investment in the world's 2nd biggest economy, which is growing at 7.5%, took a steep decline of 18%. That's not good news at all.

    Posted in: Japan's investment in Southeast Asia surges

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