sangetsu03's past comments

  • 1

    sangetsu03

    A Russian press secretary make about 100 grand a year sangetsu03-san? My how things have changed in Russia.

    His official salary is $110,000 per year. After he was called out on the watch, his wife, an Olympic champion ice dancer, claimed to have bought the watch for him as a wedding gift, but then photos of him wearing the watch before they were married were dug up. Since then, no other excuse (lie) has been aired.

    Posted in: IOC bows to Putin and Russian dopers

  • 0

    sangetsu03

    It's a loan not a government investment so the money is going to be paid back by JR Tokai. The banks had already provided loans based on due diligence for the first phase.

    I will tell you about "due diligence" in Japan. In Japan, due diligence has little to do with the economic viability of the project. In Japan due diligence means that a banker's son, nephew, or nieces, will be guaranteed a posh job at JR in exchange for the loan. If there is difficulty repaying the loan, it will be rolled over, the terms changed, or whatever else is necessary to prevent default. The bank may lose any profit in the deal, but the jobs given to the banker's family members or friends will be safe.

    As for the government "loan", this is a tricky thing. The rules which are normally applied to private investors do not apply when the government is involved. If you hire a contractor to build your house, and that house ends up costing 3 times what you agreed to pay, and takes 5 times as long to build, you can sue the contractor for not keeping his part of the contract, or you can fire him. If the government is financing a project, and it takes 5 times as long to build, and costs 3 times as much, the government will almost certainly pay. And, like the banker, the politician or bureaucrat who approved the loan is guaranteed at least an executive position in the company, if not made a member of the board. The reason infrastructure around the world is collapsing is that the cost of corruption in the process has made in nearly unaffordable

    Posted in: Critics question economic impact of Abe's maglev decision

  • 1

    sangetsu03

    The issue has become controversial in many countries, with multinational firms from Google to Starbucks facing accusations of not contributing appropriately to the economies where they make their money, and multi-billion-dollar merger proposals being partly driven by tax considerations.

    I suppose the sales of retail property, the cost of utilities, and paying wages to workers is not enough? The alternative is that the cost of opening these stores and offices is too high, and they are simply not opened, meaning that instead of gaining something in taxes, employment, and economic activity, they get nothing at all. And if merger propositions are being driven by tax considerations, that means taxes are too high, not too low.

    We are becoming serfs to the state, and increasingly, the only way to succeed on a large scale is to become a crony of the state. The economic problems we have in the world are not the result of taxes being too low, they are the result of governments spending too much. The more they spend, the less we have to spend, and the less we have to spend, the less we buy, and the less business which make things and provide jobs have to provide those things or jobs.

    Posted in: G20 ministers urge tighter tax rules for multinationals

  • 1

    sangetsu03

    wtfjapan, thanks for the explaination. And what about 2% bank interst rate ?

    The bank rates are based much upon the rates set by the central banks, and as we all know, central banks are essentially charging zero percent interest. This is purportedly done to make it easier to borrow money, and to increase borrowing and economic activity, but mainly it is to reduce government debt servicing costs. Since rates are zero or negative, and don't necessarily reflect the risk of the country issuing the debt, there are fewer buyers, and the governments which issue the debts are often the largest buyers thereof, Japan being the greatest example.

    Banks will not pay 2% interest rates because they are not trying to attract depositors, they already have plenty of money on deposit, about 1350 trillion yen at the moment. They cannot loan it out at a higher interest rate because there is no demand at the current lower rates. There is no demand even at lower rates because there are very few investments in Japan capable of creating a positive return. Positive returns in Japan are unlikely for many reasons. First, Japan's demographics mean that fundamental growth via increasing population is not possible. Next, increasing exports is almost almost impossible because competition around Asia is very strong, and the cost of manufacturing in Japan makes the country uncompetitive.

    It looks like you don't live in Japan because if you did you understand that since Abe came to power the price of almost anything you can think of has increased considerably while salaries have remained stagnant or fallen.

    This is not true. You have to consider the effect of the consumption tax increase, which effectively raised the cost of living by 3%. This means that the people effectively lost 3% of their incomes, which they compensated for by reducing their consumption. Many of the retailers in the area where I live raised their prices by 3% when the tax was passed, but have since lowered their prices to the pre-tax level to try to compensate for falling sales. This means that their profits have fallen by more than the 3% added to the cost of their goods.

    And you have to account for Japan's energy consumption. As one of the largest consumers of electricity in the world, and with almost no nuclear power now, Japan is consuming vast amounts of oil, gas, and coal, and a decrease in the price of these has the most deflationary effect on the economy.

    The tax reduction Abe gave companies didn't not translate to wage increase. Companies are taking more from consumers leaving them with less to spend and to counter the price increase, consumers are tightening their purse string and spending little. Most economist or policy makers are out of touch with reality.

    The rate was only reduced a few months ago by less than one percent. This can hardly translate into higher wages, especially since 70% of Japanese companies are "loss producing", and earn not profit to tax. And now that we are into 2016, and there have been no structural reforms to offset the loss in business revenue from the consumption tax increase, companies are already starting to report more losses. If this continues, more companies will end up paying no tax at all, because they are losing more in costs than they are earning in sales.

    The only one who is doing the taking is the government, and they are taking from both companies and consumers alike. Think for a moment how much of your income is absorbed in tax. Income tax, residency tax, consumption tax, phone, electricity, and gas tax, the road tolls, vehicle inspection fees, road tax, and fuel tax (even if you don't own a car, these apply to the trucks which deliver the goods you consume, and add to their cost), the port and airport taxes, then add the tariffs which apply to two-thirds of the food you eat, and to many of the goods you by. Most of the money you earn is absorbed in tax, not by the profit of companies. And profitable companies pay more in tax than they do on payroll.

    Posted in: Kuroda says BOJ will ease policy again if necessary to hit 2% inflation goal

  • 0

    sangetsu03

    Seems that Dahlberg has some personal problems with Putin or athletes...

    There is nothing personal about it. The Olympics is one of the most corrupt and corrupting events held in the world. Host countries use the games as an excuse to loot billions from taxpayers, and deliver the money to the cronies who build the venus as well as the IOC members who approve the host country. Then, in order to divert the public's attention that so much of their money has been stolen, the state engineers a way to give their country an advantage in winning medals. What was the cost in Russia? More than a billion dollars per medal. Where do those billions go? Last year Putin's press secretary was seen sporting a $650,000 wrist watch, an amount equivalent to 6 years of his salary as a state employee.

    Posted in: IOC bows to Putin and Russian dopers

  • 1

    sangetsu03

    The terrorism has taken the route of religion and through religion , killing is justified, sex attack is glorified and heaven is assured by terrorists. Those who cant live in harmony with the present world, cannot provide heaven to anyone.

    Terrorism has also taken the routes of political ideology, and these ideologies have killed tens of millions. The problems is unsolvable, because the human mind is easily manipulated, and no amount of education or advancement of society change this.

    "You cannot say that, no one would ever believe it." said an advisor to a French king. The king replied "but they will believe us, because it is their nature to do so."

    People need something or someone to believe in, and this need is so strong that they will do the most absurd things to express their beliefs.

    Posted in: Terror attacks a growing economic threat: G20 ministers

  • 2

    sangetsu03

    if It's about spending the public's money, Abe is your man

    If it's about spending the public's money, any politician is your man (or woman). The DPJ went on a vast shopping spree during it's short stint in power, and even now, the only thing they promise to do different than the LDP is to spend even more money.

    how about spending on social welfare? improve the lives of the elderly and the young unemployed? The elderly get the lion's share of public spending in Japan. When you pay 7 times as much for rice, 4 times as much for meat and dairy products, and extra costs for other food goods, the elderly are the main beneficiaries of the subsidies created by these tariffs. This is how the LDP has managed to bribe the elderly to keep the LDP in power for so long.

    As for the young unemployed, they have no votes and no voice. If they were smart, they would jump ship and move to Canada or America, where they would have a real economic future.

    I disagree entirely with using public funding to build the new train lines, because if they were as profitable as JR seems to think, they should have no trouble recouping the costs with ticket sales, and private lenders would be falling over themselves to provide the money. That this is not the case, and the taxpayers are the last resort, it can only mean that they expect to lose money on the projects. And since it is a money-losing project, where the taxpayers will receive one yen in value for every three yen they have to pay for the project, you can entirely expect the government to back the project enthusiastically.

    Posted in: Critics question economic impact of Abe's maglev decision

  • -4

    sangetsu03

    Record low voter turnout is my guess due to many thinking a curse on both your homes

    Don't count on low turnout this November. Many Trump supporters will show up at the polls, and a fair number of Bernie supporters are going to fall in on Trump's side. Unless Trump puts his foot in his mouth so deeply that he disappears (a la Joe Biden), or Hillary suddenly becomes likable a much greater number of voters, we are going to have a president with orange hair.

    if bernie actually accepted the obviously corrupt and rigged outcome of the primary process for the sake of "calm and unity" what would that make him except just another grubby politician willing to accept the people being screwed over for the sake of expediency?

    It would, because he is just another grubby politician who has been in political office his entire professional life. He plays the game as it is dictated by the powers-that-be, whose interest he has served his entire life. That anyone thought that a career politician who has never worn a working-man's shoes would somehow put a working man's interest ahead of his party's is laughable. The DNC holds the strings to every member of it's party, Bernie included. Had Bernie been a true outsider, in other words, someone like Trump, he would have done much better. The left needs it's own outsider to run, someone who isn't a party slave.

    Bernie cant let this go. Theres a limit. its one thing to support the nominee for the sake of party unity, its another to do so after having been defeated unfairly because of rigging and dirty tricks in that nominees favor.

    He has already let it go, because of the reasons I just mentioned. And for the last year, the RNC has been doing it's all-out best to rig or play dirty tricks to keep Trump from being it's nominee. They threw their money and influence behind Bush III, and when Bush imploded, Cruz got the money and influence. But republicans are so fed up with their party that forced the party to take an outsider as it's candidate. Bernie is not an outsider, he has been a player in the democrat party since 1968, he is too much part of the system to be seen as being truly capable of defying or changing it.

    Posted in: Democrats in disarray on eve of convention to nominate Clinton

  • 3

    sangetsu03

    On Friday night I tried to order dinner for delivery from McDonalds, as I do once a week or so. I usually have to wait only 20 to 30 minutes for my food to arrive, but on Friday the wait was two-and-a-half hours. I ended up getting pizza instead. In the short term, the economic benefit to McDonald's may be even bigger than the article states.

    Posted in: Why the Pokemon-McDonald's deal in Japan could be big

  • 1

    sangetsu03

    The back alleys small roads in my neighborhood now have more people wandering about looking for Pokemon, and the small restaurants are seeing more foot traffic. The nearby McDonald's was so busy that there was a two-and-a-half hour wait for food deliveries.

    Pokemon Go is indeed revolutionary, silly as it sounds, more so even than Facebook.

    Posted in: If more people go out to look for Pokemon, it will increase consumer spending because these people will pay for transportation and meals. If local bodies organize regional Pokemon tours, it will help vitalize local economies. Its economic effects are far larger than other games, whose benefits are limited to those generated by relevant goods.

  • 2

    sangetsu03

    Why should Abe be concerned, isn't this what Abe wanted? An independent Japan armed with nuclear weapons? Trump is Abe's dream come true.

    Because even though Japan pays a hefty amount to America to protect Japan, it is not even close to the actual cost. Even as the world's third-largest economy, Japan does not have the means to fully pay for it's own self defense against the likes of China and North Korea. And with Japan already buried in debt, and spending 40% more each year than it collects in revenue, losing America's defense forces is a strategic economic threat to the national economy. And the problem can only get worse as the population continues to fall, and revenue falls with it.

    Posted in: Trump's 'America First' causes concern about U.S. commitment to defense of Japan

  • 1

    sangetsu03

    What a scam, markets moving up and down on talk!

    In the absence of economic growth, the forces controlling the markets now are central bank policies and news headlines. The stock market in America was pushed up by the news that the Fed would not raise rates, due to concerns over the Brexit.

    Posted in: Asian stocks slide; yen holds gains

  • 1

    sangetsu03

    arguing that violent crime and illegal immigration have plunged under his leadership to their lowest rates in decades.

    Really? The number of illegal entries into America in the first 7 months of July this year is greater than in all of 2015, which equates to a near 100% increase in one year. If that is a "decrease", I would hate to see how many would have to come to be classified as an "increase." The number of unaccompanied children crossing into America is at an all-time high.

    As for violence, Obama has made speeches calling for greater gun control laws and other measures to fight the surge in mass shootings and gun crime. In truth, the rate of violent crime (including gun related crimes) has been decreasing, but this began back in 1992. Clinton and Bush saw larger decreases in crime than Obama has.

    If America were anywhere near as well-off as Obama claims, Trump's campaign would have ended last year, and Trump certainly would never have been nominated. If America were as well off as Obama claims, Bernie Sanders would never have run such a close race against Hillary.

    Posted in: Obama rejects Trump's depiction of U.S. in crisis

  • 0

    sangetsu03

    even when the town has few if any immigrants and is itself a major recipient of aid from Brussels,

    In 2015, the UK paid 13 billion pounds to the EU, and received 4.5 billion pounds in spending from the EU.

    Those working in Britain and the US see their wages stagnant, or declining, and, despite official numbers pointing rosy unemployment figures, record numbers of people are not working. These people are less xenophobes or bigots than they are worried about their own economic well-being. When there is not enough work or money to pay the current population, adding more immigrants into the economy is not going to improve the situation. Even worse is that immigrants with no jobs, little education, and few skills add little of value to the economy, and tend to consume more in public services than they contribute in taxes.

    Your average Brit seems to be able to understand rudimentary math and economic principles much better than the average politician.

    Posted in: The populists are revolting

  • 0

    sangetsu03

    That's asset inflation. I was talking about price inflation. Next.

    Do stocks not have a price? Is this price not affected by the money supply? It rather obviously is.

    Stocks, or capital stock, the goods which are produced, bought, and sold, are all assets, and all assets are as subject to inflation as anything else. Were the demographics in Japan positive, the inflation in the stock market would immediately trickle down into into capital stock, consumer prices, wages, etc. But with Japan's demographics making positive returns on the sale of goods, or increased demand for products, such isn't the case.

    There is not a lack of liquidity in Japan, which is the only real reason to start printing money. There is ample money, but no place to spend it and earn a return.

    Companies began buying stocks because they believed Abe would deregulate the economy, which would create an environment of positive returns. But Abe hasn't done what his is promised, so the companies have fat stock portfolios with a high value on paper. But without any place to invest this money in Japan, and no future prospects, these stock prices aren't worth the paper they are printed on. Unless the government continues to continue to pump up the markets with cheap money, and companies continue to roll the money around in the market, the entire mess will collapse.

    Next.

    Posted in: BOJ could wipe out bets on July easing

  • 3

    sangetsu03

    That's why we dont have huge inflation. And that's why all the scare-mongering over QE turned out to be wrong.

    You have no idea, do you? We do have inflation, just take a look at the stock market. A doubling in share prices during a period of net GDP growth of only 1% is a rather obvious sign. That currency does not all remain in the accounts of the BOJ, it is loaned out to the commercial banks, which in turn loan it to companies, who in turn buy stocks, inflating the prices.

    And then there is the fact that the population continues to decline by hundreds of thousands each year, which drives down consumption, demand, and inflation. In addition to this, there is also the fact that in uncertain economic times, Japanese people spend less. The formula doesn't work in Japan as it would work in other countries which have growing populations, and therefore growing demand.

    When the stock bubble eventually bursts, which it must do as it is over-leveraged, and growth remains stagnant, you will see the effects of QE. The BOJ has no more medicine to use, and the patient is no less sick than when the treatment began. This is all much like the housing bubble and recent economic collapse. But instead of housing prices being pushed absurdly high due to low rates and the trading of mortgage-backed securities, low central bank rates and QE is pushing stock prices to absurdly high levels. The only difference is that the real estate in America was a more tangible asset than the paper value of the companies buying their own stocks, being bought with the paper being pushed out by the central bank.

    Posted in: BOJ could wipe out bets on July easing

  • 0

    sangetsu03

    Globalization, free trade, free-market policies and tax cuts for the rich have given the developed world two things: stagnation, if not contraction, plus chronic inequality .

    This is so funny. Does the world have more financial inequality when globalization has pulled more than 2 billion people in developing countries out of poverty?

    As for tax cuts for the rich, how much do the rich pay compared to you? The top 10% of income earners pay 70% of all tax collected. The top 1% pay almost 40% of all taxes collected. In the England, the top 3000 income earners pay more tax than the bottom 9 million. You obviously have no idea what the word "fair" means. My tax bill is certainly higher than your income, if you are an English teacher, your salary is a fraction of my tax bill. The rich create the jobs which pay our salaries, and as you increase the tax burden on the rich, it does two things, makes it harder to become rich, and removes the motivation for doing so. And when fewer people aspire to wealth, those people don't bother to create the businesses and result jobs which create wealth, and you end up with stagnation, inequality, and a declining middle class. As usual, you have things completely backwards.

    You are of the type who believes that the rich become rich at the expense of the poor, which is opposite to the truth. By eliminating the rich, you will not reduce the number of the poor, the numbers of the poor will increase. You seem to think that government is the answer to everyone's problems, and that the government will protect you from the evil gluttony and greed of the rich. But you conveniently overlook that those politicians who you prefer to corporate executives are far more gluttonous and greedy, because they are not limited to spending their own money, but are free to spend almost limitlessly the public's money.

    The type of system you advocated has been tried over and over again, and failed over and over again. No doubt you cheered when Hugo Chavez become presidents of Venezuela on his promises to take from the rich and give to the poor, when in the end, he took from both and gave to himself, making his family the richest in the country.

    You need to concentrate on teaching English, and not making comments on things you can't comprehend.

    Posted in: Restoring the economy’s ability to deliver prosperity

  • 6

    sangetsu03

    Blacklist them from flying, then they will have to do their international travel by sea. They'll have more time to drink, not to mention more room to fight.

    Posted in: Sydney-Thailand flight diverted after drunken passengers throw punches

  • 1

    sangetsu03

    Tweets are for twits and twats, and the twerps that run twitter can go twist their twinkies.

    Posted in: Twitter announces crackdown after online abuse of 'Ghostbusters' actor

  • 3

    sangetsu03

    Are they going to raid all that cash that's sitting in the average Joe/Joanne's bank account?

    What they will do is borrow 20 trillion yen that they don't have by having the BOJ issue 20 trillion yen in bonds which the bank will buy from itself. This won't drain the money in the average Joe/Joanne's bank account, but any inflation caused by diluting the currency pool by 20 trillion yen will decrease the value of the money Joe/Joanne have in their accounts, as well as devaluing their salaries a like amount.

    The government's overriding goal is to maintain a 2% "price stability goal", otherwise known as inflation. The government desperately needs some amount of inflation to inflate away part of it's debt, and to allow them to continue spending at their current vast scale. Inflation is a stealth tax, which allows the government to take the value of your savings and salary without having to actually take the money itself. Inflation benefits no one except large debtors, like the government of Japan, and Japan Inc.

    The money gained (or lost to us taxpayers) will be used to fund projects, which Japan Inc and other Japanese companies will get exclusive contracts for. Basically, they are borrowing against the prosperity of future generations to maintain their current prosperity. It is outright thievery disguised as economic policy.

    Posted in: Japanese gov't eyes over Y20 tril stimulus to support economy

Work
in
Japan

Search the Largest English Job Board in Japan.

Find a Job Now!

View all

Japan Investment
Properties

Listings Updated Daily

Search