sangetsu03's past comments

  • 0

    sangetsu03

    Clock is ticking folks. Needing to keep the BOJ program going through possibly 2020, when it was intended to only be in place for a couple of years when it started in 2013, is not good economic planning. It is desperation

    Bravo!

    Posted in: Japan debt plan needs BOJ to keep rates low for years

  • 0

    sangetsu03

    Better keep them out of Iraq, otherwise most of them will be captured and used against Iraqis. It is mostly American vehicles and armor that ISIS is using now, we don't need to give them any more.

    Posted in: U.S. to deliver 2,000 anti-tank weapons to Iraq

  • 1

    sangetsu03

    This is Japan, so Son will remain the boss until he dies. "Stepping down" means he will have more time to play golf, but he will always have the final say in any decision the board or Arora want to make. In Japan the old men run the show, even if they are no longer sitting in the boardroom.

    Posted in: Arora to replace Son as SoftBank CEO

  • 5

    sangetsu03

    And where's my vote?

    Sorry, they will take your money, but they won't give you a vote. I am a business owner and employer, I contribute much to the economy, but I have no voice here, except by leaving and now they want to take away that option as well, This will be something people will consider in the future when they look for a country to set up a business in. Japan has just moved down a few more notches in desirability, going from "poor" to "bad".

    But on the upside, even the voters in Japan have no real voice. The same group is always in power,

    Posted in: Don’t forget to tip the doorman - Japan’s new exit tax

  • 8

    sangetsu03

    In government-speak, "stimulate" means borrow-and-spend. And politicians need to spend in order to buy votes and get elected or reelected. The vast debts Japan and other countries have is the result of this practice. "Vote for me, and I will give you blah, blah, and blah". Never mentioned is the cost of "blah, blah, and blah", or their eventual burden on current and future taxpayers. If a politician can "fool most of the people most of the time", he can stay in office indefinitely, and spend as much of the taxpayer's money as he wants.

    A decreasing population means decreasing consumption, and economic contraction. Unfortunately, the nature of the population decrease means that the productive population decreases, and the unproductive population increases. This unproductive population will rely heavily on government and government spending. Planning a "post-growth" economy is not as simple as it sounds, given the number of people who will consume government services vs the number of people who will be burdened with having to pay for these services. Given the current levels of debt, population decrease, and increased consumption of government benefits, this simply cannot be afforded, particularly in a world full of other countries who are competing for business.

    Growth can return, but only if the current environment is radically changed. Allocation of resources must be shifted away from the business/government bureaucracy, and to the regular people. This doesn't mean tax the rich to feed the poor, it means allowing the lower classes to own more of the economy.

    Non-competive business practices, supported by a government full of former businessmen, and businesses which are full of former government bureaucrats have driven up the costs of all goods and services to normal people, and made it difficult for the lower classes to participate more fully in the economy. Entrepreneurship is almost non-existent in Japan, and any successful business which does manage to get started is generally absorbed by the larger conglomerates (if you can't beat them, buy them), who then make it as non-competitive as their other businesses. Abe's new "entrepreneurship" fund has been used mainly to bail out existing companies, or to fund projects by existing companies. Such is the nature of things in Japan, and why there is no growth.

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

  • 4

    sangetsu03

    There were fatal crashes involving several Boeing and Airbus airliners over the past couple of years, are the Okinawans afraid to let any of these planes fly over their island?

    Posted in: Japanese worry over Osprey safety after fatal Hawaii crash

  • 4

    sangetsu03

    Japan’s economy is expected to have grown 0.4% in January-March, unchanged from the prior quarter, according to a Reuters poll of economists. The Cabinet Office will release the data on Wednesday.

    And this is of course about 1/4 the growth that Abenomics was supposed to deliver. Worse yet, growth numbers almost never meet predictions, and are almost universally revised lower once the full figures are received.

    Japan can continue to exceed its potential growth rate, which is from zero to 0.5%, as household spending and consumer sentiment improve,

    In an economy which is losing hundreds of thousands of consumers each year to population decline, zero to 0.5% growth is unrealistic, let along exceeding these numbers, particularly when taxes are being raised.

    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. But when our politicians and central bankers do the same thing, not only are they not punished, they are reelected or reappointed.

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

  • 1

    sangetsu03

    1) It's a race to the bottom. By trying to get everything as cheap as possible, almost everyone ends up with less money. Those selling don't take in as much, and therefore can't afford to employ as many, or spend as much. This ripples outward to all parts of the economy.

    Wrong, wrong, wrong, a thousand times wrong. There are plenty of places where food is expensive, such as every developing country in the world. You will find as a rule that as the percentage of money needed to buy food increases, income and quality of life increases. The poorest countries in the world have relatively the most expensive food. As the cost of food and other goods goes down, income and quality of life goes up.

    2) Transporting food severely hurts our environment. The fossil fuels used to transport food are hurting us all. Not to mention the preservatives they need to use to ensure the food doesn't go bad in transit. Ideally, we should all be eating almost entirely food produced within 100km of where we live.

    Sorry, but you live on planet Earth, not "Wonderland". If you had to eat anything which grew within 100km of where you live, that means no more fresh fruit or vegetables in winter, and even during growing seasons, not everything you eat can be grown nearby.

    As for fossil fuels hurting us, how much shorter are our lives than they were half a century ago? How about one or more centuries ago?

    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

    sangetsu03

    Funny, a banker I talked to last night said that though "profits" were quite good last year, the bank's margin was negative. With the likes of Panasonic, Sharp, Sony, and a hundreds of others deeply indebted to the mega-banks, and a large percentage of bank assets consisting of JGB's in addition to these debts (which are considered "assets"), don't assume things are as rosy as the article points out. Japanese banks are trying to shed themselves of their bond holdings, though they can't do much about the debts to the large companies, the banks are now the majority owners of these. Any profit they can squeeze out now will be reinvested outside Japan, there is nothing here that they want.

    Posted in: Japan's top banks boost shareholder returns after upbeat earnings

  • -2

    sangetsu03

    Tourism is already doing quite well. The moment the government starts getting involved they are likely to screw it all up, like they have with everything else they have tried to "help".

    What this probably means is that they will eventually regulate tourism in such a way that Japan's conglomerates get most of the pie. Mitsubishi and Mitsui will be the main hotel and transportation operators, and their subsidiaries will work on taking over the rest. Business as usual, Japanese style.

    Posted in: Abe eyes new action plan to boost tourism to Japan

  • -2

    sangetsu03

    In a country with 200 million guns, and many times more forest than the entire country of Japan possesses, why the hell would someone want to travel all the way to Japan to kill himself in a "sea of trees"? The very idea is boo-worthy, and that it somehow such a movie got made is... Well, I guess that Hollywood has run out of ideas for movies, and has made countless sequels for any movie which earns them a dime. The formula is to use a couple of well-known faces, so they can make money from fan appeal instead of by telling a good story.

    Posted in: Film starring Matthew McConaughey, Ken Watanabe booed at Cannes

  • 2

    sangetsu03

    I agree that unpaid work is ludicrous, if there is a law requring overtime pay for overtime work, then that law must be enforced. If it is not, who is at fault? Businesses? Or the government which refuses to enforce the law?

    Next, most Japanese companies are not very profitable, in fact, few Japanese companies earn any real profit. With consumption declining for more than two decades, it is becoming harder and harder for Japanese companies to make ends meet.

    Many companies are in debt, and are struggling. In other countries, these companies would simply go bankrupt, and either shut down, or have their debts wiped away, and be reorganized by the court, and theIr owners can start over. But in Japan, bankruptcy laws are severe, and are consideted nearly a criminal offence. If a company goes bankrupt, it's the owners/partners/directors face loaing their right to vote, get credit, or their ability to get a full-time job. In order to prevent bankruptcy, labor costs are cut as much as possible.

    The government understands this, and knows that if these companies were forced to pay full value to their workers, they would likely have to shut down. This would inevitably cause a collapse, and require fundamental changes to the way Japan does business. And one thing Japan and the Japanese hate is change, and this is why the government does bot enforce overtime laws.

    Posted in: Gov't to release names of 'black companies'

  • 1

    sangetsu03

    “Japanese companies are not really prepared to compete,”

    Truer words were never spoken. Japanese companies abhor competition. They go to great lengths to keep foreign competitors out of their domestic markets, and, once they close the doors, they collude together to fix prices and "earn" profits from a captive market. If they cannot even compete against each other, they certainly are at a disadvantage when they have to fight for market share outside Japan.

    Japan's defence industry is likely to do no better than their electronics or other industries, unless they internationalise it like the automakers, which means a great deal of foreign employees and executives will need to be involved in the process. I don't see this happening.

    Posted in: Japan's defense export hopes dimmed by latecomer status

  • -1

    sangetsu03

    but needing to test products on Japanese people because of the supposed physiological differences is just protectionism -- pure and simple.

    Exactly.

    Posted in: Exoskeleton that helps paralyzed walk faces barrier in Japan

  • -1

    sangetsu03

    Huffpo isn't changing anything. If a widely-read domestic paper like Asahi couldn't do it, neither can Huffpo. And there are already plenty of Japanese alternatives, most of which have far greater readership, and still no real influence.

    Posted in: How Huffington Post is changing Japan’s media landscape

  • 0

    sangetsu03

    Why not write a bill that demands Temp companies to provide the full benefits of standard workers? Leaders these days are just children following the orders of their Corporate parents. Well, you get what you vote for.

    Pay a visit to Docomo, or Mizho, or IBM Japan, or any of dozens of other companies in Japan. You will find that many departments have two managers, because if one manager can't or won't do the work, he can't be fired or demoted, so another manager has to be hired to do the work. This results in both managers earning less, because there is only a certain amount of money available for payroll, and this problem exists at all levels within the company. One of the reasons Japanese workers work so many hours, and that their pay has become stagnant is because of unproductive workers who cannot be fired.

    What we end up with are bloated, unproductive companies with huge staffs and little output. Companies can't perform or compete, so the Japanese economy at large cannot perform or compete, and you end up with declining wages and deflation.

    Posted in: Diet begins discussing new regulations for temp worker dispatch

  • -1

    sangetsu03

    Okinawa is already considered a poor, backwater island by mainland Japanese, it is the Mississippi of Japan. If the US forces leave, the island will be quieter, but no less dangerous, the crime rate among US service members is one-fifth what it is among the locals. The numerous bars, shops, restaurants and other businesses which cater to US service members will close, and the main streets in Okinawa cities will look like the main streets in most (all?) other rural Japanese cities, dark, boarded-up buildings with old people living on the second floor.

    But pride is more important than poverty.

    Okinawa is already a well known tourist paradise in Japan and Asia in general. Is there any evidence that the presence of the military bases is preventing people from visiting?

    There is not, the other resort areas around Japan have been in steady decline, in places like Atami you will find about 1/3 of shops out of business. If you go to Miyako-jima, and other places, you will find the same thing.

    If part of the over $4 billion that Japan pays directly and indirectly to support the US military in Japan were directed towards development and economic stimulation, it would more than cover the loss of 'money from the military'.

    Sorry, but if the US forces were not there, Japan would have to pay that $4 billion to enlarge it's own military to fill in the gap. As it is, not all of the current costs are shouldered by Japan, America pays much of it's own way. The cost to Japan to maintain it's own defence in the absence of America troops would likely be much more than $4 billion.

    The US service members in Okinawa earn more than the locals do, and much of what they earn is spent in Okinawa. You need only look at the economic conditions of other towns which formerly hosted military bases. None that I know of have ever seen an improvement in the local economy after the bases were closed. Most lobbied aggressively to keep the bases open, but to no avail. Okinawa does not know what it is doing, but let them close the bases, and they will understand quickly enough.

    Posted in: What do you think would happen to the Okinawan economy if all U.S. military personnel left?

  • 1

    sangetsu03

    You can help but understand why there are fewer and fewer young people, they have no voice, no authority, and no representation.

    Posted in: Japan to set up sports agency ahead of 2020 Olympics

  • 3

    sangetsu03

    And since the bus driver may not have tried to brake or avoid the dump truck, Japanese justice might make him and the bus company partly financially responsible for damages from the accident, like the recent "wrong way" driver ruling. 47 people can now sue both the dump truck driver and the bus driver.

    Posted in: 47 injured after tour bus, dump truck collide in Yamanashi

  • 0

    sangetsu03

    The fantasies on display in “Furious” actually harken back to 1950s America, a time when the Great Depression was fading into the past and life was getting better for the masses. Wages were rising; union jobs and long-term careers gave regular Joes a chance to provide. If the domestic routine of suburban family life or the rhythms of the factory or the office grew too dull, the new consumer culture answered with fast, muscular cars and Hugh Hefner’s Playboy magazine for libidinous release.

    Not mentioned in this lovely picture is that after the war America was the only industrialised country which had not seen it's manufacturing sector destroyed. Japan's and Germany's factories were utterly destroyed, Britain's were heavily damaged. America had thousands of new factories across the country, vast amounts of new infrastructure and material resources, and hundreds of thousands of young men returning from war with money in their pockets. And during the 1950's, the Cold War was in full swing. America's economy grew in the 1950's because America was rich in industry, land, resources, young people, and had absolutely no foreign competition for it's market.

    If you want to talk about the results of strong unions and long-term careers, you should look at Britain from the 1950's onwards. Unions were much stronger there than in America, and 80% of Britain's industry was nationalised. But no one would say that this period was a British golden age.

    in America, and across the globe, people have been increasingly sorted into economic winners and losers.

    I hate to break the news to you, but today, like yesterday, like last year, going back to the beginning of time, there have always been economic winners and losers. Even the the hey-dey of the 1950's there were still American children who went to school in bare feet, because their families could not afford shoes. The poorer classes that exist in America nowadays live in air conditioned homes with colour television, the poor of the 1950's lived in tarpaper shacks without electricity, or cockroach infested apartments in the inner cities.

    Impersonal forces like deregulation and globalization have brought stagnant and falling wages, jobs with less security and fewer benefits, and agonizing hardship to huge numbers of folks.

    Please give me even one example of the "deregulation" you point out. As a business person, I know quite a bit about regulations. I guess you aren't aware that the US tax code currently has more than 10,000 pages, and contains more than 70,000 regulations (and more are added every day), and that the greatest increase in the number of regulations has occurred since 2008? And the US tax code is only the tip of the iceberg, once you add non-tax federal regulations, and myriad state, county, and city regulations, well, you get the point.

    "Globalisation" began almost 6 centuries ago, when Spain began sending ships to the new world, and other countries followed. Globalisation has quickened as transportation and communication has improved, but globalisation is far from being a new phenomena.

    Wages may be falling in America, but they are rising in developing countries. Fully one-fifth of the world's population has risen out of poverty over the past 15 years.

    and agonizing hardship to huge numbers of folks

    You obviously have no idea what hardship is. Half the world lives on $2 per day or less. How is that for a large number of "folks"? I suppose it would be better for the billion or so people in developing countries to be put back into poverty, so the 300 million in America can get an increase in pay?

    Today’s economic policies have made a dusty relic of that world. Guys like Dom have been wiped out by the financial crisis, in many cases taking a permanent hit. They struggle to make their families proud. Home no longer seems like a place of authority. Women may not even want to marry you if you can’t get or keep a job. If you have a family, the dysfunction is growing

    What policies do you mean? In American inner cities, the drop out rate is very high, among Latinos it is more than 50%. Generally speaking, dropouts cannot get good jobs, or earn high salaries, and economic policies have nothing to do with this problem. Home no longer seems like a place of authority because many young people in the lower social strata come from single parent households. Welfare is mainly given to unmarried women with children, if they are married, they can't easily receive welfare payments, and the more children they have out of wedlock, the more money they can get. Hardly a formula for encouraging marriage and two-parent households.

    I lost my job in the financial crisis, so did many others. But I thought hard about how to get back on my feet, I worked hard, and now I am doing better than I was before. I am nobody special, if I can earn a decent living, so can anyone else.

    Posted in: 'Fast and Furious' may signal America's speeding decline

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