sangetsu03's past comments

  • 0

    sangetsu03

    Except that almost all hydrogen is produced by burning fossil fuels, meaning that until they find a more efficient way to produce hydrogen, these fuel cell cars are no more green than gasoline powered cars.

    And it is not just because these automakers are trying to improve the environment by creating a hydrogen fuel cell system. They are also trying to shut out Tesla and other independent electric car producers from the Japanese domestic market. All of Japan is already tied to an electrical grid, and that an electric car infrastructure could be made with minimal cost and effort. But then again, the government (us taxpayers) are subsidising the new hydrogen fuel infrastructure, no doubt a few politicians will be sitting on the boards of Toyota, Nissan, and Honda when they get tired of bending over the taxpayers.

    Posted in: Toyota, Nissan, Honda back hydrogen stations for fuel cells

  • 1

    sangetsu03

    “Markets determine exchange rates. For that reason, it’s important for Japanese companies, and the economy, to become resilient to exchange-rate volatility,” he said.

    Exchange-rage volatility only occurs when there are worries about the political competence and fundamental economic strength of the country which issues the currency. The market is an extension of the will of the people, and people express their will (or faith) by buying or selling a particular product, stock, or currency. And it through the market that the people can at leat exercise some control over greedy politicians and bureaucrats who would happily print as much money as necessary to buy votes to get them elected or reelected.

    Posted in: BOJ newcomer calls for corporate-style pragmatism in policy

  • 0

    sangetsu03

    All we need now are virtual drivers, virtual cars, virtual roads, and virtual places to drive to.

    Posted in: Toyota's virtual crash dummy software can model occupant posture before collisions

  • 1

    sangetsu03

    The story above this one says "Sharp is in selective default", the story below says "Sony shares slide 8.2%".

    Should my mood be improving?

    Posted in: Japanese business mood improves despite gloomy data

  • -2

    sangetsu03

    Any article which uses the word "may" to qualify information is not worth reading, because "may" means exactly the same thing as "may not". Whenever someone uses the word "may", it means that they really have no idea what is they are talking about. A white horse "may" win the Kentucky Derby next year, the volcano in Hakone "may" erupt tomorrow.

    It sounds like the powers-that-be are hoping to introduce a tax on sugary drinks, and the above article is part of their campaign.

    Posted in: Sugary drinks may cause 184,000 global deaths a year: study

  • 0

    sangetsu03

    I hope corporate sponsors can cover most of these costs. The businesses that really benefit financially from the Olympics might want to consider chipping in.

    The top tier sponsors now pay $200 million each to the IOC. Second tier sponsors must pay $40 million each. Sounds like they are chipping in quite a bit.

    Posted in: IOC wants Tokyo to finalize plans for new stadium by end of July

  • 1

    sangetsu03

    I don’t worry about Japanese Government’s debt but I’m more worry about US Government’s debt.

    America is a large country with vast material, agricultural, technological, energy, and human resources. Ample land allows ample room for growth, continued population growth insures that there will be economic growth and increased demand for for future growth.

    In Japan the population is in decline, debt vs GDP ratio is double that of America, Japan has no material, agricultural or energy resources. The leading cause of death of young Japanese men is suicide.

    Rolling over of debt is not "debt servicing". Rolling over of debt is counted by the MOF as " debt servicing". They are intentionally putting out false information. Period.

    Rolling over debt means they are simply borrowing money to pay current bills, and then having to pay that money again later on. Kind of like paying your credit card bill by charging the balance to another credit card. This in no way reduces the debt, in fact, since the debt is not paid, and the balance is rolled over, it continues to grow.

    Japan doesn't have the cash? The how do you explain this? Japan just passed China as the biggest US creditor for the first time since 2008.

    Did you read the article you posted? Though Japan has moved ahead of China as the largest holder of American debt, Japan's holdings of American debt decreased by more than 1%. The only reason Japan moved ahead is because China's holdings decreased even more. It says volumes about the confidence the world has in America to pay it's debts that Japan and China hold so much of America's debt.

    What would happen if Japan tried to sell Japanese government bonds (debt) on the international market? At the current rates the bonds pay, no one would by them.

    Posted in: For Japan, lesson from Greek crisis is to keep on spending

  • 11

    sangetsu03

    The article ls laughable.

    Of course policy makers and economists in their employ are going to say that Japan is not as bad off as Greece. "Policy makers" mean "politicians", and politicians will tell the people what they want to hear, or what they want them to hear, and as we all know from centuries of experience, this is seldom the truth. In reality these policy makers and their paid economists must be shaking in their boots.

    Japanese companies are for from competitive, with the exception of the big automakers, who are largely divested from the Japanese economy. Domestic Japanese companies for the most part are unprofitable, many are sitting on debts. Toyota Japan, Nissan Japan, Subaru Japan, et al all posted losses in domestic Japanese sales last year, this year, the year before last year, and several years before that. Sony, Sharp, Panasonic, Hitachi, and so on, are all in debt up to their ears.

    Next, the Japanese are saving less. The largest buyer of Japanese bonds is no longer the Japanese people, or the Japanese institutional investors, but the the Bank of Japan itself. In one way, this is worse than the Greek situation.

    Next, Japan's population is falling by hundreds of thousands per year, decreasing the pool of consumers, which in turn reduces the tax revenue they produce. The remaining population is older and sicker, less productive, and heavily consumes public services. The younger population is become much less numerous, and as younger workers provide most of the tax revenue to pay for the government's spending, we can see that Japan will have to be spending much more in the future while revenue resources dwindle.

    Interest rates must remain low, and don't look at the government raising rates any time soon, even if they achieve the inflation they are looking for. Even a small increase in rates will make debt servicing costs increase by a large amount, and debt servicing costs already consume 26% of all tax revenue collected.

    Like Greece, Japan is a resource-poor country. In the past Japan's economy grew because Japan's labor cost was lower than America or Europe, and there were no other large competitors for low-cost manufacturing. This is no longer the case. Throughout Asia there are now countries which can produce quality goods for lower prices than Japan.

    Japan needs to look much closer at the Greek collapse, and must begin becoming more fiscally responsible.

    Posted in: For Japan, lesson from Greek crisis is to keep on spending

  • 0

    sangetsu03

    Nope, Japan has a self defence force. Having a military would violate article 9 of the consitution, and we can't have that can we? Having a US presence at all also breaches the constitution.

    Since it was the US which wrote Japan's constitution, they included provisions for keeping US forces in Japan. These provisions have also been part of subsequent treaties with Japan. Sorry Sherlock, it is completely constitutional for US forces to be here.

    Posted in: Abe's ratings slip amid doubts over his security policy

  • 0

    sangetsu03

    I have to open a new corporate account this week. The bank has faxed the documents to me, which I must fill out and stamp with my hanko. But first I have to go to the city office to get an inkan shoumeisho for myself (3 copies), and another for by business (three more copies), which of course I cannot get at the same office. It will take about 90 minutes of my time to get these documents, then I must have them sent back to the bank.

    Where this America, I could have done everything without leaving my office. I could have filled out the application forms on line, and emailed scans of whatever documents were necessary. The account would be opened within an hour. Here in Japan, even with all the correctly filled out application, stamps, registration forms, etc. it will be at least a week before they can open the account.

    I often wonder how anything gets done in this country, things which take minutes in America or Europe can take days, or even weeks in Japan. But all the paperwork must make it's way to the desks of the various bank bureaucrats who must apply their own stamps to each and every page, and then sent back to the manager, who will apply his own stamp.

    This is 2015, not 1915.

    Posted in: Fax machines holding on, especially in Japan

  • 3

    sangetsu03

    as creditors pillage the country and steal pensions to pay French and German bankers.

    These French and German bankers have been paying Greek pensions for some years now. It is not the bankers who are stealing the pensions, but the Greece's pension system which has been stealing money from French and German taxpayers. And when we are talking about pensioners here, we are talking about the pensions of government workers.

    It is Greece's responsibility to pay it's pensioners, and if they can't afford to pay then either they were paying them too much in the first place, or have squandered pension funds on unrelated projects. In either case, the pensioners need to take it up with their own government, not the EU, which has been paying them for the past two years.

    Greece has long had one of the most generous pension systems in Europe, without the underlying economic strength to support it. Now it is collapsing, as one would naturally expect.

    Posted in: Tsipras defiant as banks shut, markets rocked

  • 0

    sangetsu03

    But that's what happens with a safe haven currency like the yen.

    "Safe" is a relative term, a sinking ship is safer than a burning house, but I wouldn't put my money in either. People buy seaside homes perched on cliffs, knowing that eventually the cliff must collapse, but they believe the cliff will stand for at least as long as they own their house, so they buy it. No one sees the yen as fundamentally stable, it is a house perched on a cliff. But it won't fall today or tomorrow, so people put their money there. But they won't keep it there for very long.

    Posted in: Nikkei drops to more than 1-week low as Greek crisis batters global markets

  • 0

    sangetsu03

    Government at work. Government projects always end up going way over budget, and are never done on time. This is because the government does not have to answer for the cost overruns or delays, and cost overruns and delays increase opportunities for graft. The cost as of today is 252 billion yen, it will be much higher before the stadium is finished.

    If this weren't a taxpayer-funded stadium, but a commercial skyscraper built by a private company for use by private companies, it would be completed on the contracted time at the contracted cost.

    The incredibly high cost of government construction problems is the main reason why infrastructure in places like America is crumbling. When a highway project cost up to ten times the original estimate, and take three to five times longer to complete, they simply cannot be afforded. On the other hand, if all the fluff, kickback, and other graft-related costs were subtracted, these projects could easily be finished more cheaply and more quickly.

    Posted in: Olympic stadium to cost Y252 bil, sports minister says

  • 0

    sangetsu03

    No, the BOJ doesn't have to do anything. The market can and should take care of itself, or at least it could at one time. But now that government debt and servicing costs are larger than their respective GDP's, fluctuations in the economy can hamper the government's ability to borrow and spend (squander). So now, in order to keep government debts manageable, the central banks are using their influence to more or less regulate free markets. Of course, the results are predictable, the markets no longer depend on or care about the performance of companies and business, they have become dependent on the central banks' continuing to flood the market with money, and to keep interest rates low. The eventual result of this action will be worse than if the central banks did nothing at all, and let the market regulate itself, as a free market should.

    The only result of Japan loaning money to Greece would be delaying the inevitable by a few weeks or months, and make the fall that much harder. Greece of course will never repay any money they receive from Japan, just as they will never repay the billions they have fleeced Europe for.

    If turmoil in Greece causes turmoil in Japan's markets, Japan has only itself to blame by encouraging the building of a paper economy which is now powered mainly by QE than by private-sector economic activity.

    Posted in: BOJ not considering emergency fund injection over Greece yet

  • 1

    sangetsu03

    I don't think Abe's defence policy is the main issue here, but the fact that he is pushing the issue so hard when Japan has bigger fish to fry. People wonder why Abe is trying to change the constitution and increase military spending when the economy is stagnant, cost of living continues to rise, and wages aren't keeping up.

    They are also beginning to feel some disappointment. When "Abenomics" was implemented, many hoped that the economy and lives of ordinary Japanese would improve. This has not been the case. And people want to see Abe keep his promises to fix the economy before he begins rewriting the constitution, and spending more money which the taxpayers don't have to build up Japan's military.

    Posted in: Abe's ratings slip amid doubts over his security policy

  • -4

    sangetsu03

    My point is: Japan owns its debt, except for some percentage of around 9%. If it's Japan, its institutions --Insurance companies, Post Office etc-- and the Japanese people who buy the debt... and who are 'happy' with, for example ten year returns of about 0.5%, they can keep issuing bonds until the cows come home to roost. So in a way it is 'harmless'...

    If Japan did not own most of the debt, things would not be as bad as they are now. Because the market for JGB's has been more or less closed, the government has been able to keep rates artificially low, and this has allowed them to borrow much more than they could have otherwise. And the fact that Japan's debt is held mostly in Japan points to corruption in the system. Big government and big business are closely intertwined in Japan, and this purchasing of bonds by Japan's larger financial institutions comes in exchange for the government doing what these banks and businesses want them to do. but that is how business is done in Japan, it is all back-door deals where one hand washes the other, there is no free market.

    Good points. You are hereby invited to join the "Correct Understanding of Economics Club."

    Funny how relative a term like "correct" can be.

    Posted in: Japan factory production down 2.2% in May

  • 0

    sangetsu03

    people are much more wise to the ways of the world.

    I wish this were true, but it is not. Wisdom and common sense are among the rarest commodities that exist in the world.

    Posted in: Prime Minister Shinzo Abe cannot pretend he was not involved as some of his aides attended the study meeting.

  • -2

    sangetsu03

    First, the Greek crisis has nothing to do with socialism. There is not now nor ever has been socialism in Greece, unless you consider the ancient communalism that existed prior to the city state. The whole mess has been caused by capitalism.

    Utter nonsense. Greece's problems have everything to do with socialism, and Greece is the poster child of what happens you run out of other people's money to spend. Much of Greek industry is nationalized, more than half of Greeks are/were employed by the government. The curremt Syzira government is in fact a socialist government, Mr Tsipras has been a socialist since he joined the "Communist Youth of Greece" as a student. Of all the countries in Europe, none has less capitalism than Greece.

    Returning to the Drachma is one basic precondition for solving Greeks problems If that does not happen, it does not matter what else the politicos do... things can only get worse.

    Returning to the Drachma will not solve Greece's problems, Greece defaulted on it's debts prior to joining the EU. Greece has long believed that the public sector should be the foundation of the nation's economy. So long as they continue to believe this, their economy will continue to fail.

    Posted in: Greece imposes capital controls, banks to remain shut

  • 0

    sangetsu03

    It might go completely against the spirit of capitalism but isn't it time for the EU to think about simply writing off Greece's debts?

    Absolutely not, because of the EU writes off Greece's debts, countries like Spain and Portugal are likely to reconsider repaying their debts. Other countries in Europe will spend less responsibly because they may believe that any debts they incur will not be called into account.

    That is the problem with "debt relief". People and countries behave responsibly when there are consequences for behaving irresponsibly. If we remove those consequences, then why bother to act responsibly?

    If you are a European, part of the money loaned to Greece was payed for with your taxes, you yourself are one of Greece's creditors. If Greece does not repay what it owes you, then you will have to pay even more when those funds are not repaid, because the money loaned to Greece could not be spent on programs in your own country, and the shortfall must be made up for.

    It is the weakness of Greece for lacking fiscal disciplines for more votes.

    Unfortunately, this happens in every democracy, it is a fundamental weakness of the democratic system. All of the massive debts incurred by developed countries are the result of politicians buying votes, and this is why all developed counties have fiscal discipline problems.

    Posted in: Greece imposes capital controls, banks to remain shut

  • -1

    sangetsu03

    It is often not military force which determines victory, but political will. America has much of one, but almost none of the other.

    Posted in: China far from ready to meet U.S. on a global battlefront

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