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TravelingSalesAug. 24, 2014 - 06:24PM JST
The point is that they have to break deflationary expectations. That is not the same as breaking deflation. So long as people and firms expect deflation, whether or not there is in fact deflation, they will hoard cash, not spend or hire, not ask for or expect wage hikes and reinforce the downward spiral.
Posted in: BOJ may ease policy for some time to beat deflation: Kuroda
TravelingSalesAug. 19, 2014 - 01:05PM JST
The Chinese Ministry of Foreign Affairs expressed regret & disappointment at Mr. Palmer's remarks, pointing out that he had deeply wounded the feelings of the Chinese people who (as made clear by the Ministry of Public Tranquility) are very emotionally attached to the ancient Chinese customs of having tanks driven over their kids and of enjoying involuntary late-term abortions.
Posted in: Australian tycoon calls Chinese government 'mongrels' in TV tirade
TravelingSalesAug. 16, 2014 - 03:35PM JST
CORRECTION: Once the BoJ prints to pay government obligations like pensions, medical costs, public sector wages and local subsidies, inflation will really kick in.
Posted in: Japan not out of deflation yet: economy minister
TravelingSalesAug. 16, 2014 - 02:56PM JST
The Japanese government owes more money than it can ever pay back. Its debts are roughly the same size as the US government's, but the US has an economy three times as big as Japan and a growing population.
The Japanese government has four ways to get out of this - tax more, spend less, default, or cause inflation to debase the currency.
They are trying to tax a bit more, but there are fewer and fewer people earning good salaries to be taxed and increases in consumption tax have to be eased in gradually to avoid stalling the economy.
The Japanese government doesn't spend that much compared to other rich countries, and what it does spend is increasingly linked to the needs of the elderly population. Not much room for cutting left.
Default by the government would cause total economic collapse, worse than anything seen in other defaulting countries because most Japanese government debt is held by Japanese retirees or people saving to retire. Defaulting on them would cause a total collapse of economic activity.
Inflation (otherwise known as a slow motion disguised default) is thus the only way out. Right now the BoJ is just printing money to buy bonds from banks or insurers, which doesn't work well since most of them just deposit the money back to the BoJ. Once the BoJ prints to pay government obligations like pensions, medical costs, public sector wages and local subsidies. The challenge then will be to control it and prevent a Zimbabwe scenario. At that point, it will be great to own stocks, real estate, commodities and foreign currency assets (especially if funded with borrowed money) and terrible to have cash, deposits or bonds.
Generally speaking, when the government is a borrower, you should be too.
TravelingSalesJul. 29, 2014 - 05:45AM JST
It was 70 years ago. Get over it already!
Posted in: Japan needs to keep apologizing, making gestures of contrition and seek a fuller understanding of its shared past with Asia. The apologies tend to be vague and lack specific references to atrocities and excesses, therefore not addressing the needs of the victims.
TravelingSalesJul. 08, 2014 - 09:46AM JST
Tokyo real estate prices are now back, in real terms, to 1972 levels. You have to be pretty brain dead to call that a bubble. Maybe this guy used to work for the Ministry of Finance?
Posted in: There are companies that have offered unbelievable prices to ask us to sell our land.
TravelingSalesJul. 05, 2014 - 08:14PM JST
Ultimately you're worth what your employer is willing to pay you. In Japan Ghosn's salary is not as much as it sounds. The government will take more than half - he'll be lucky to take home 400 million.
Posted in: Nissan CEO Carlos Ghosn earned 995 million yen in fiscal 2013, making him the highest paid executive in Japan. What do you think of compensation levels for CEOs? Is anyone worth that much to a company?
TravelingSalesJul. 03, 2014 - 09:34AM JST
What party is he from?
Posted in: Lawmaker bawls at press conference over his use of public funds
TravelingSalesJun. 30, 2014 - 03:53PM JST
Why are the people here so dirty? Even China, Korea and Philippines are cleaner now in restaurants, offices and bars. Japan seems stuck in the '50s.
Posted in: Even if a smoking room is set up, smoke can leak when people open and close the door. I think the central government has to work on achieving a complete smoking ban.
TravelingSalesJun. 26, 2014 - 10:50AM JST
It was 70 years ago. It doesn't matter any more.
Posted in: Singapore PM asks Japan to turn page on history
TravelingSalesJun. 25, 2014 - 09:33AM JST
Why would highly skilled workers come to a country with a 55% tax rate when you can go to Singapore (20%), Korea (18%), Hong Kong (16%) or Dubai (0%)?
Posted in: Abe unveils grand plan to boost economic growth
TravelingSalesJun. 04, 2014 - 10:58AM JST
Feed him, cure him, clothe him, court-martial him.
Posted in: Obama defends deal with Taliban to free U.S. soldier
TravelingSalesMay. 28, 2014 - 10:09AM JST
Japanese families should have the same rights to hire domestic helpers from overseas that Singaporean and Hong Kong families have.
Posted in: To allow women to work to their full capacity, we will have to bring in people from Southeast Asia to help with childcare and housework.
TravelingSalesMay. 23, 2014 - 10:20AM JST
unshaven neck? Is this a Japan thing?
Posted in: Five things about male friendship that confuse Japanese women
TravelingSalesMay. 20, 2014 - 09:44AM JST
Why would anyone voluntarily sign up for a 55% tax rate?
Posted in: Tokyo governor unveils plan to lure foreign business talent
TravelingSalesMay. 13, 2014 - 01:27AM JST
Why would skilled workers volunteer for 55% marginal tax rates?
Posted in: Consultant urges 'one-of-a-kind' immigration policy for Japan
TravelingSalesMay. 08, 2014 - 04:03PM JST
Yes, and we should apologize for our lack of foresight. Fortunately we included an amendment mechanism.
Posted in: Abe adviser says revision of pacifist constitution vital
TravelingSalesMay. 08, 2014 - 03:18PM JST
We should tell Japan they've got 5 years to improve their military and take on mutual defense obligations, or we're abrogating the treaty & going home. I am tired of free-loaders.
TravelingSalesMay. 08, 2014 - 01:11PM JST
Tokyo is crazy cheap when compared to Singapore, HK, NY or London. Although prices are slowly starting to move.
In March, according to Japan Property Central, in central Tokyo’s six wards (Chiyoda, Chuo, Minato, Shinjuku, Bunkyo and Shibuya), the average apartment asking price was 57,220,000 Yen, up 0.7% from February and up 11.1% from last year. - See more at: http://japanpropertycentral.com/2014/04/secondhand-apartment-prices-in-march-tokyo-kantei/#more-22736
And most foreign brokerage houses expect 15-20% average annual gains for the next several years.
Posted in: Buying property in Japan can be daunting yet profitable
TravelingSalesMay. 08, 2014 - 12:51PM JST
Where's Japan's contribution?
Posted in: World powers join search for abducted Nigerian schoolgirls
Aug. 28, 2014 - 04:06AM JST
Orlando is developing a "Jim Carrey with hair" look?
Posted in: Full bloom
Aug. 28, 2014 - 03:51AM JST
zombies! I am a uni prof. I have plenty of cell phone zombies. My fellow teachers…
Posted in: Survey shows longer periods of smartphone use can lead to lower school exam scores
Aug. 28, 2014 - 03:41AM JST
What a joke! Do you know why these "loop hole" drugs are not a problem in…
Posted in: Health ministry requests Y1.1 bil budget to deal with 'dangerous drugs'
Aug. 28, 2014 - 03:37AM JST
Posted in: Lupin III comes full circle as live-action cast turns into anime characters for bread line
Aug. 28, 2014 - 03:26AM JST
There are plenty of strong focused and influential black leaders. Sharpton is NOT one of them.…
Posted in: Thousands bid farewell to slain Missouri teenager