nigelboy's past comments

  • -1

    nigelboy

    Even then, it wasn't justified...

    Based on hindsight, anyone can look like a genius.

    Never said they were. I merely said that the effects of the economic crisis are still being felt. Governments the world over took on huge debts to bailout reckless bankers, and financial companies. Japan didn't have to help out its banks but it took a hit.

    In other words, pretty much the entire world has to be in good order for Japan to increase tax, another hurdle on top of the unrealistic 5% growth.

    You think 5% is unrealistic, I get it. It's all well and good to disagree with opinions. However, making claiming people think and say things they do not is spurious, to say the least. Stick with what;s I've written down. You're not putting anything over on anyone.

    It is.

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -1

    nigelboy

    Hmm...where are the words developed nation in that sentence? In your imagination.

    Fact. Japan is a 'developed' nation. Hence, by setting a numeric target of 5% is completely unrealistic.

    My point is that there's a time and place for tax increases, and that time isn't now. Growth stats that begin with a minus sign don't support argument that Japan needs higher taxes. That simply isn't true.

    It did not. The decision to increase to 8% in April of 2014 was done in October of 2013 based on the economic numbers prior to that.

    The financial crisis didn't just disappear. G7 nations are still getting crushed with debt that may well take billions of years to pay down. Income inequality is becoming worse, and economic growth globally is down.

    Those are not defined as "financial crisis."

    Perhaps I'm over-estimating its impact, but, the situation with China doesn't help trade relations. Trade could be hindered, which doesn't help the economy. However, I point out that the worsening relations with China are a factor to be considered, not a direct cause or Japan's recessed economy.

    In an evolving economy, trade volume with China doesn't simply dissappear but is offset by other nations (namely SE Asia).

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -2

    nigelboy

    PM Abe didn't create the tax hike policy, but he implemented it. That makes it his.

    No it does not.

    All tax increases impact the economy negatively. That means they have to be timed properly, not passed during times when the economy is in an anemic state. Wages are stagnant, consumers aren't exactly optimistic

    There is no such thing as "timing them properly" when it almost always results in negative.

    Besides being smug, you're clearly confusing my post with another's, as I have never stated, or implied that Japan was a developing country. Get over yourself, please.

    You're the one that came up with a 5% increase target to a developed nation.

    No, I'm not...I'm saying that the economy hasn't fully recovered from those events, and so, the tax increase was

    You mentioned financial crisis. The only one I can think of is the aftermath of Lehman shock when the DPJ did nothing. 3/11 was during the DPJ. Tensions in China? What does this have to do with economic recovery?

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -3

    nigelboy

    I understood perfectly, I just don't see how that mitigates the decision to go through with the tax hike in the first place. That simply confirms what I wrote before: Abe's policies are economically unsound.

    It's not his policy.

    I don't buy into your argument that Abe had no choice. If he truly understood the tax increase would impact the economy negatively, then going ahead with it raises questions as to PM Abe's competence, and common sense.

    Because all tax increases impact negatively. Doesn't mean you ignore it. How do you think the other nations were able to implement their increases?

    The financial crisis, the earthquake of 2011, the uncertainty caused by the tensions with China (not mentions those around the world), and a struggling economy....How can tax increases be justified in such circumstances? Why ignore all common sense, and proceed with a policy that will not deliver the economic results needed to deal with the debt?

    It seems like you are confused with the later years of Noda cabinet.

    It's sound when the economy is growing at a robust, sustainable pace. Best to wait when the economy is growing at 5%.

    Japan is not a 'developing' nation. They are part of a G7. Please. Get real.

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -2

    nigelboy

    Only 39% of those polled by the Asahi Shimbun

    My god. Asahi giving the lowest number to LDP cabinets again. What a surprise!!

    Posted in: Abe's support rate at lowest ever

  • -2

    nigelboy

    Embrace, accept, etc, at the end of the day it all means one thing: PM Abe supports the increase in the consumption tax. He accepted it because he hasn't got any idea on how economies work. He has no bold or original ideas.

    What part of "He accepted despite that it would result in negative numbers" did you not understand?

    PM Abe is the head of state, with a majority in both the Diet and the Upper House. If he wants change, it's within his power to make it happen. Going throuh with the tax hike was unnecessary, and unsound.

    So when is it 'sound'? Can you at least be specific (which means economic numbers)?

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -3

    nigelboy

    Wow, I can hear the teeth-gnashing all the way over here from China and North Korea where the people wish they could vote in an election.

    Lol.

    It's another way of stating that they like the way it is but for the anti Abe crowd, they construe it completely differently.

    Posted in: Abe dissolves lower house, seeking mandate for 'Abenomics'

  • -3

    nigelboy

    PM Abe hasn't spoke against the tax hike. No one disputes the origin of the tax hike, but, there's no arguing that Abe supports it, and has made it part of his overall plan for the economy.

    The word you used was "embrace" for that's the reason why I countered. He accepted it because the economic clause indicated in the amendment called for it.

    Laws in democracies can be repealled, or modified by future governments. Granted, that's often easier said than done, but, there's no excuse for PM Abe's choices. Allowing the tax hike to go through, unchallenged, unchanged, was irresponsible, and economically unsound.

    He's not excusing it. He accepted despite that it would result in negative numbers. To what extent neither Abe nor the rest of the experts knew.

    Abenomics and the tax hike are two separate things. I do not argue that point, and never have. However, that the tax hike wasn't his idea, doesn't mitigate his decision to support it, and push it through. As the head of state, he bears the responsibility for whatever actions he takes, or fails to take. The tax increase is definitely one of them.

    But he is taking responsibility for it. Put it another way. Not knowing the significant decrease that it resulted, when can one determine such increase can be made? In addition, even with this negative impact, majority of his expert panel still insisted the raise as scheduled in October of next year.

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -1

    nigelboy

    Call it what you will, but the approach of holding one's savings in yen over the past 2 years has netted a loss in value of some 30%. It's not as bad in my (diversified) case.

    No. When the subject is about macroeconomics, it's useless to discuss ultra micro.

    With the devaluation of yen, there are corporations in Japan that are netting record profits as a result of ROI overseas or high margin in exports.

    30% in devaluation doesn't mean people in Japan are subject to 30% increase in costs. If that's the case, the CPI would be reflecting those numbers.

    Posted in: BOJ keeps economic outlook despite recession

  • -1

    nigelboy

    I give credit where credit is due and I criticize, in my mind, when it's warranted. I want Japan to succeed therefore I want Abe to do all he can to lead this country forward and into prosperity. He made the right choice, in my laymen's mind with regards to not raising the consumption tax, and I commend him for doing so and think it was wise to hold a press conference to explain himself. I do wish though that he had not rung out a list of his so-called achievements and then tell us that this election will let the voters judge him and his policies. Abe did not need to convince the vast majority of Japanese that a tax-delay was necessary as most people had wanted him to do just that. What most people were waiting for was Abe to lay out an alternative plan for how to turn the economy around in terms meaningful to them and which would have a positive impact on their lives. He missed an opportunity to connect with the people and unite us but instead called an election meant only to divide.

    I beg to differ in that Abe has basically given the public to decide who should be running this country. This is a defacto mid term election. Abe has called this an "Abenomics dissolution" but that doesn't mean that the public nor the opposition has to play along those lines. If the opposition wants to debate the failures of Abenomics, they can do so. Not only that, the opposition has a carte blanche to address other of Abe's policies which includes the Secrecy bill and the Cabinet decision to extend the limited collective self defense. Also, let's not forget that DPJ Chief Secratary Edano wished for a dissolution back in October 25. He got his wish.

    No, I would have liked Abe and his team to have drafted a bill, in co-operation with the opposition, to address those issues ONLY but that was not Abe's intention nor was it written to deal with the situations you described. Abe went light years beyond your list by giving unlimited powers to the ministries and agencies to determine themselves, without restraint, what should or shouldn't be classified as state secrets. The intention of this legislation was to empower the government and ministries and to shield them from unwanted inquiries into the internal affairs of each

    No. The law itself details to four specific categories which are self defense, foreign diplomacy, counter intelligence, and acts of terrorism. If it fits those categories and sub categories, the responsible entity/agencies/ministries have the sole discresion to designate them as so which is no different than what the opposition was proposing. What the DPJ counter offer, although sound in one area, leaves more question afterwards. (i.e. specififying terrorism to "foreign" only, establishment of a monitoring committee but nothing in regards to who is monitoring them)

    Let's be clear. DPJ had ample opportunity to get their own Secrecy law passed during their reign when this particular subject came to surface after the Senkaku trawler incident and the video that was released to the public. They sat on it, PERIOD.

    So to get back to the discussion, it appears that you are not against the idea in general but now shifted the goal posts by discussion the methods that could of been done by achieving them. That's great. But in a perfect world, we would all like to see the majority and the opposition get together and formulate a law where there are compromises but even in democracies all over the world, such rare mutual cooperation happens once in a blue moon where, for instance, there exists a stalemate in both legislative houses but they all agree such legislation has to be passed. But in a real world, when a majority party control both houses, their goal is to get the bill passed.

    Posted in: Voters to Abe: Why call an election now?

  • -13

    nigelboy

    "alternative plan" to what? States Secret legislation?

    So, would you rather have National security emergency plans, codes, protocols, to be of common knowledge readily available to anyone? Let's make it simpler. Do you think it's necessary for any State to have information that are 'classified' which are not designated for the general public?

    My power hasn't been shut off and as far as I can tell there are plenty of people calling for Japan to push renewable energy which the big power companies resist. Besides, the majority of Japanese don't want nuclear but Abe doesn't care. Alternative to collective self-defense, ah, the past 60 years seemed to do the trick. Alternative to changing Article 9, how about having had an open and honest discourse with the public instead of ramming it down their throats seems like the alternative the opposition and the majority of Japanese had been asking for as well as deserved on such an important pillar of Japanese society.

    I'm quite positive that if people who are actually pushing for renewable and are willing to pay for the added FIT as well as the associated additional costs as a result of the unstable energy source incurred by the energy companies, they are more than willing to go that route. Didn't pan out, did it?

    Right of limited collective self defense, a basic right guaranteed by the U.N. Charter. What was decided are cabinet decision. In order to be effective, it has to be interpreted by law (amendment). This is where the public can voice their opposition by not reelecting him thereby such bill will never set foot in the Diet.

    So an alternative to an election? Let me think! Ah, how about acting like a leader which is what the citizens expect and stop wasting our time with the games, lead with humility instead of arrogance which the citizenry are tired of, which is evident by the just over 63% who don't understand why Abe is calling the election as well only 25.3% of voters planning to cast ballots for the LDP.

    Ok. His "leadership" is in question. Vote him out. Or is it that people who are questioning the timing of the election don't feel the necessity as most posters here with their "gloom and doom" rants?

    But individuals like yourself and the media will then say after the election, which EVERYONE knows will be a landslide victory for the LDP due to no viable replacement for the LDP, that the results clearly reflect the overwhelming support given to Abe's policies and past achievements and that he was given a strong mandate to push forward with whatever he dreams up next.

    No viable replacement=no alternative ideas just like you.

    Your rant sounds exactly like those who are demonstration "No xxxx". "No xxxxx"

    Posted in: Voters to Abe: Why call an election now?

  • -13

    nigelboy

    Simple: don't have an election. Or did you mean alternatives for Abe's pet projects? Simple: don't implement them, as the majority wants. Or did you mean the economy? Simple: cut wasteful government spending. Just because you don't like the answers, nigelboy, does not mean they have not been offered. But you choose not to read or listen, same as Abe. You support wasting money on something no one wants while claiming that somehow proves they want it if you like. The ret of us will continue to exercise common sense and point out how unnecessary the election is.

    Those aren't alternatives I was hoping for but it's typical. Go against everything what Abe does. Fine. Let's start with economy. You stated "cut wasteful government" spending. Great. List them and explain why they are 'wasteful' and by cutting them, how does it improve the economy?

    Posted in: Voters to Abe: Why call an election now?

  • -12

    nigelboy

    I really don't understand why so many people are against the election, if I remember correctly, 80% of the people here are avidly against the things Abe has been pushing (secret act, restarting nuclear power plants, collective self defence and attempted changes to article 9). Then Abe gives voters the opportunity to shoot him down and now everyone is pissed about that.

    So true. You notice that many here have not even posted a single alternative plan, pretty much like the opposition parties.

    Posted in: Voters to Abe: Why call an election now?

  • -2

    nigelboy

    A referendum on the issue would've been a more practical option than a snap election. Whatever the results, the economic situation will be the same if Abe returns, or another takes his place.

    A referendum only applies to 'revising the Constitution'. Furthermore, by instituting the referendum, you are basically opening up to more costs as well as eliminating the legislature all together.

    Well that's a great accompanying photo of the Japanese prime minister, arms crossed sitting in an opulent-looking chair while wearing an expensive suit. Abe looks like a defeated man who is not in great health. I believe he has vowed to resign if the LDP does not win a clear majority (238) of the 475-seat lower house (currently 480; will be reduced by 5 after next election). LDP currently holds 294 seats, so it would need to lose 57 to no longer have a majority.

    The photo is during the Upper house committee where the bill was concerning the revitalization of the urban areas which the opposition parties had previously decided to attend but did not do so after the announcement of dissolution by Abe. Hence, it was the opposition that decided to create a 'vacuum'.

    Japan is officially in a recession and it is entirely the fault of Abe and his flawed economic policies. Common sense would dictate that the LDP really ought to fail to win a majority of seats in the 14 December election. Of course, the seats are grossly mal-apportioned in favor of rural areas. But there is no reason conservative rural residents should interpret two consecutive quarters of totally needless economic contraction in a manner any different from their urban counterparts. Those numbers are a symptom of a totally failed economic policy program. Who knows, maybe Japan's voters will shock everybody and force Shinzo Abe to resign.

    The two consecutive quarter decrease occurred as a result of increase in consumption tax. This is a no brainer when you actually look into the GDP numbers where the two decreases are private residential investment (-6.7%) and corporate investment. (-0.2%)-i.e. big ticket items.

    Also, the top 5 voting districts (Hokkaido 1st, Tokyo 1st, Tokyo 3rd, Tokyo 5th, Hyogo 6th) were all won by LDP candidates so please, spare your uneducated Western origin cliche.

    Most unlikely scenario but one that would really send a strong message to Japan's nepotistic, sclerotic, hidebound, and basically clueless politicians: Abe losing his own district in Yamaguchi Prefecture. Honestly, the guy really deserves to lose. He's been in the Diet for 21 years, served two separate tenures as prime minister. He's had his chances and blown them. He is a man completely out of any good ideas for his fellow citizens and non-citizen residents of Japan.

    ala Hatoyama lead regime change? No thank you. I think the general public learned a harsh lesson not to vote for 'pie in the sky' manifesto. If anybody 'deserves' to lose are thosekey lawmakers who went along with this. Got one to retire. Hope to get a couple more ousted in this next coming election.

    Posted in: Gov't defends election over 'waste of money' criticism

  • -3

    nigelboy

    True, but, PM Abe embraced it, and made it a big part of his economic plan. He was under no obligation to implement the tax. He could've repealled the law, but, rather bizarrely, thinks higher costs are an incentive for people to spend more.

    No he did not. The tri-party agreement was concluded when Tanigaki was the head of the LDP. With the upward economic number during last year, Abe had very little choice but to accept the initial raise as per what the law indicated (as per article 19)

    Wages aren't up by much, and certainly, the increase isn't enough to offset the higher costs the new tax imposes everybody. Not to mention the affects of a devalued yen will have on the economy.

    That's my point. Some people who posted here can't separate between the affects of Abenomics and the affects of the rise in consumption tax.

    Consumer spending is up from what it had been in the summer, but it's nowhere near where it was January-March of this year. That should've been a very clear sign to the government that an increase in consumption taxes isn't wise in this anemic economy.

    You are essentially comparing the months leading up to the implementation of the increase in tax rate which most economists as a one time anomaly.

    OK, there's been some improvement, but, it's way to early to celebrate the recent rise in consumer spending. It could very well be seasonal. Kids going back to school, spending for the upcoming winter holidays, etc.

    The link I gave above is 'seasonally adjusted' and is comparing the same quarter from last year.

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

  • -4

    nigelboy

    By dissolving parliament for an election Abe can clear the slate and once again reshuffle his cabinet, said Michael Cucek, a Tokyo-based analyst and fellow at Temple University Japan.

    Wow. What a brilliant analysis (sarcasm).

    Asked by other 'analysts' not from the West, they give out many factors one of which is to keep the Ministry of Finance and those within LDP who want to raise taxes to keep their mouths shut for the time being. Or to emphasize the fact that the opposition party have been simply going against Abe's policy without offering viable alternative solutions.

    Posted in: Diet to be dissolved Friday afternoon

  • -14

    nigelboy

    The government “should launch economic policies… rather than spending 60 billion yen on the election,” Keiichiro Asao, head of the minor opposition Your Party, said ahead of the announcement.

    i.e. "Our party just broke up because of you. Wahhhh!!"

    Posted in: Gov't defends election over 'waste of money' criticism

  • -2

    nigelboy

    In the Central Washington town of Moses Lake, BMW just doubled the size of its carbon fiber factory. This same city has lobbied Boeing more than once to be considered an alternate site for 787 and 777 parts manufacturing. The only explanations for Toray getting the contract is that they will manufacture in China or they bribed Boeing because the transport costs - less than 3 hours via freeway versus 12 hours flying or a week's ocean freight - are easily in the local producers favor.

    It states on the SGL Moses Lake site that they are increasing the capacity for automotive needs.

    Toray also has a plant in Tacoma, WA.

    According to Nikkei, Toray is the clear market leader with Teijin at second. Third and fourth are Mitsubishi Rayon and SGL, respectively.

    Posted in: Toray to supply carbon fiber to Boeing in $8.6 bil deal

  • -1

    nigelboy

    New York State Department of Financial Services said.

    I often wondered where such 'fines' went.

    http://www.buffalonews.com/city-region/albany-politics/french-bank-pays-22-billion-to-new-york-state-20140701

    If you're lucky, the state can hit a jackpot.

    http://www.dfs.ny.gov/reportpub/annual/dfs_annualrpt_2013.pdf

    From $942,016,152 (Total Department Receipts for 2012) to $1,291,798,190 (Total Department Receipts for 2013)

    Posted in: Mitsubishi UFJ fined $315 mil in U.S. over Iran sanctions violations

  • -3

    nigelboy

    You needn't bother posting links to this .pdf or that if you can't just answer a simple question

    Have you ever considered that the question in of itself is 'vague'?

    Posted in: Abe adviser calls for stimulus after 'shocking' GDP

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