sangetsu03's past comments

  • 2

    sangetsu03

    I am quite surprised, hadn't expected Kuroda to go feral like this, but then he does know how to impress the markets

    The markets are not impressed, they think Abe and Kuroda are fools, and that their monetary policy is idiotic. But the markets know they can take advantage of policy changes to earn a little short-term profit. There is still time to jump off the boat before it goes over the falls.

    Posted in: Japan consumer inflation slows; spending down in September

  • 7

    sangetsu03

    It won't work. Creating assets which are then purchased using money borrowed from the taxpayers at interest, which must be repaid is not how you "spur growth". It is like drilling holes into the bottom of a sinking ship to let out the water.

    Growth occurs when there is demand, demand occurs when people buy things. People buy things when they can afford to buy them. They can afford to buy them when the prices aren't jacked up by taxes, tariffs, and price-fixing. When they can't afford to buy things, then they don't, and when they don't, the stores and factories don't make the things, and when the factories don't make things, they have to cut jobs, reduce hours, or leave the country.

    Posted in: BOJ expands asset purchases to Y80 tril to spur recovery

  • -1

    sangetsu03

    We were supposed to see an 2% increase in growth and inflation this year, and the improvement was supposed to begin in the third quarter. It looks like it didn't occur, and now negative growth for the year are inevitable.

    Posted in: Japan consumer inflation slows; spending down in September

  • 0

    sangetsu03

    The first step to stopping an epidemic is to isolate the people who are affected, otherwise known as "sealing them off." This is the most effective way to limit the spread of the disease, and this has been understood since the middle ages. Obama should know better than to say anything other than what is written by his speechwriters, and shown on his teleprompter.

    Posted in: Obama says U.S. can't seal itself off in Ebola fight

  • 5

    sangetsu03

    Wonderful, so instead of fighting for jihad in the middle east, and adding their bones to the ancient pile buried under the sand, they can fight jihad in Australia. This will allow the government to impose new rules, controls, and regulations to restrict the freedoms of the people they are supposed to serve.

    Posted in: Australia passes laws preventing young people from going to fight in overseas conflicts

  • -1

    sangetsu03

    "Official data"? You mean the same official data which adds stimulus projects funded by deficit spending to GDP growth instead of subtracting it? This is the same thing as buying a new car with a credit card and then adding the value of my car as an asset, and ignoring the interest-bearing debt used to buy it. The government doesn't apply the same accounting rules to itself which they enforce in the private sector.

    The "increase" in production is likely the result of the expansion in defense spending, the SDF will be getting a lot more new toys to play with.

    “Overall, we still expect GDP to increase by around 0.5% quarter-on-quarter in Q3,”

    Or less than 1/4 of what was previously predicted for Q3, and of course it isn't mentioned that even if this growth occurs, it is still in the negative for the year.

    Posted in: Japan's industrial production up 2.7% in Sept

  • 0

    sangetsu03

    who cares what they think.

    If people were capable of independent thought, we would be all the better off. But people prefer to be told what to think. Unlike horses, you can lead people to water (or cyanide) and make them drink.

    Posted in: Opposition DPJ takes aim at Abe over scandals, Abenomics

  • 1

    sangetsu03

    If the end of the fiscal year shows negative growth (which is likely), and Japan slides back into recession, Abe will pack his bags for the second and final time, and probably sooner than later, so when the crap hits the fan, he won't be splashed. It doesn't matter who replaces him, there is no man alive who can clean up the mess politicians have made over the last 70 years. The powers-that-be will find a strawman for the people to crucify, amd accept the blame for what others have done.

    Posted in: How much longer do you think Shinzo Abe will be prime minister of Japan and who do you think would do a good job as his successor?

  • 1

    sangetsu03

    Can we not have an opposition hat actually discusses policy.

    There is no "opposition", the two parties are just different sides of the same coin. Heads or tails, you lose.

    Posted in: Opposition DPJ takes aim at Abe over scandals, Abenomics

  • 2

    sangetsu03

    If it wasn't for the political parties watching each other, there would be more corruption. Tedious and uninspiring for the public, but it helps to keep politicians in line, sort of.

    This is not really true. In a two-party system there aren't really two parties, there is a single group of politicians who play against each other for the benefit of themselves. But of course this doesn't benefit us. It's much like the "good-cop, bad-cop" routine police use to get suspects to cooperate.

    You often hear of politicians changing parties, and they do this is easily as changing clothes if they feel that their party affiliation might risk their election or reelection campaigns. The two-party system divides people into two sides by making promises, and telling each side what they want to hear. Dividing the people into two groups makes them easier to control, and by fomenting issues to increase disagreements, the people are so busy fighting against each other that the politicians can loot and squander at will. Politicians can change sides easily enough, but how about the poor fools who follow them? Once you become a liberal or a conservative, you generally stay one way or the other. You're all being had by the LDP, DPJ, Republican, Democrat, Tories, or Whigs. You deserve whatever you get.

    Posted in: Opposition DPJ takes aim at Abe over scandals, Abenomics

  • 3

    sangetsu03

    The new cabinet will have the power to award contracts for various services, the new minister will no doubt have a comfortable retirement, just like the others. Gotta love politics.

    Posted in: Japan to create cabinet post for Tokyo Olympics

  • -3

    sangetsu03

    Japan needs people who can get the job done.

    And this party is the DPJ? How many scandles erupted during the DPJ's brief hold on power? How many DPJ prime ministers "served" in the short period?

    Japan needs a government that represents the majority of the people, not just the superrich.

    I hate to break the news to you, but there is no such governement in the workd. Governments either support the rich, or themselves. Whether it is Japan, America, Russia, Brazil, Venezuela, Zimbabwe, or ancient Rome. The only system which supports the people is a system where there is no government.

    If you want to be represented, you had better work hard and make yourself rich. But once you are rich, you will find that the government doesn't really represent you either. You will be taxed, regulated, maligned, and abused, unless you are willing to pay for for someone's election campaign, provide jobs to friends and relatives of politicians, or agree to work on government projects in exchange for the above.

    Posted in: Opposition DPJ takes aim at Abe over scandals, Abenomics

  • -2

    sangetsu03

    If you are talking about Russia, then you are talking about Putin. If you invest your money, or build a plant in Russia, and Putin decides he wants either, they're his. Russia is not a state in the normal sense of the word, it is a dictatorship. Take a look at some of the videos posted on Youtube during the last election, ballot boxes already half-full before the polls open, and ballot marking pens which use erasable ink. If Japan wants to do business with Russia, good luck to them.

    Posted in: What’s difficult for Japan is that the alliance with the U.S. is the centerpiece of its security policy. How can Japan maintain this alongside relations with Russia? This is an extremely important problem for Prime Minister Abe now.

  • 1

    sangetsu03

    “The impact on households will be modest, but the impact on our capacity to earn a stronger, more prosperous economy will be significant,” Cormann said.

    Spoken like a true politician who learned economics by organizing his comic books and betting on horse races. Are people still so stupid that they think it is possible to tax their way to prosperity? I mean really?

    By increasing the tax now, the government expects to raise an additional $19 billion over a decade.

    Which means the people will be $19 billion poorer, and the government has $19 billion more to squander with their cronies. That is $19 billion which the people won't have to buy food, clothes, or to pay for housing, bravo!

    Posted in: Australia raising gasoline tax in political gamble

  • 2

    sangetsu03

    Wonderful, a class action suit. There will be hundreds of plaintiffs, and one or two law firms. The law firms will take about half of any settlement, the hundreds of plaintiffs will have to divide the other half among themselves, and then get taxed on whatever they get, if there is enough to tax. My last take in a class action suit amounted to less than one dollar. The check was sent by certified mail, return receipt requested. The postage was $5. I wonder why they bothered.

    If these plaintiffs are smart, they will fire their attorneys, send an invoice directly to Takata, and ask what they think is fair. They are likely to get much more using this apporach.

    Posted in: U.S. consumers sue Takata over airbags; seek class action

  • 2

    sangetsu03

    Ah, it must be nice to receive millions of dollars without any proven income or profits for that matter.

    I remember people saying the same thing about Amazon. It traded up to $107 per share in 1999, after five years without one cent in earned profit.

    I am sure there is plan for Ello to monetise itself without selling ads or personal info. Back when Facebook went public, it turned out that a lot of it's revenue came not from ads, but from it's games division, Zynga. I dislike Facebook on principle, I hope Ello is what they purport it to be.

    Posted in: 'Anti-Facebook' social network gets fresh funding

  • 0

    sangetsu03

    How is it a law when you can choose not to obey it?

    You mean like the laws prohibiting price fixing, equal opportunity in the workplace, a minimum 10 days vacation each year (which can never be taken concurrently, and often not taken at all), and organised crime "tolerated"? Few countries are as selective about the enforcement of "laws" than Japan is, almost no law which opposes cultural tradition is enforced.

    Gambling is already a huge social ill in Japan, and is the cause of a huge amount of suffering among the people. It has led to countless suicides, bankruptcies, broken families, and homelessness. Yet the government is so desperate for revenue that it will happily sacrifice countless more people to such fates.

    Posted in: Casino bill delayed again; resort opening could miss Olympics

  • -2

    sangetsu03

    I say all the countries involved should drop this TPP stuff altogether! It will only benefit corporations and big business and it's bad news for everybody else!

    Do you live in Japan? Do you like having to pay five times as much for rice as you would in another country? Do you like having to pay up to 40% more for a foreign car? Do you like having to pay 25% more in Japan for a Sony TV than you would in America? Do you like that Japanese companies can engage in price-fixing practices without impunity?

    And what you do mean "benefit corporations and big business, and it's bad news for everyone else"? If you are one of the many millions who work at a corporation or big business, wouldn't this be good news for you? For those who work and corporations who have seen their cost of doing business increase, while their sales fall, have you worried about your job security? Do you think your job would be more secure if your company could get a bigger market for it's goods?

    Posted in: Momentum building on TPP deal despite U.S.-Japan impasse

  • -3

    sangetsu03

    That's because my job requires it. I get paid to write about business and economics in Japan. What's your profession?

    Are you kidding?

    Do you know what a ponzi scheme is? It goes like this. You put in a certain amount of money, and after a short time, you are repaid your investment, plus a percentage. Your investment and the extra percentage is paid when two or three other people put in some money. Their money goes to you. A few more people join and put in their money, and this goes to pay the two or three people whose funds went to you. The scheme works so long as ever greater numbers of people put money into the scheme. In the 70's, the ponzi scheme was called a "pyramid club". as the base of the pyramid widens, those at the top of the pyramid get more money. But eventually, the number of participants declines, and those late players who are on the bottom of the pyramid and were the last to put in their money end up losing it all.

    Japan's entire social welfare system (and those of other developed nations) is a ponzi scheme. Back in the 70's and 80's when the economy was growing, the system was workable. But now with the population declining rapidly, there are fewer and fewer people putting in their money. In order to keep the system going, the government is borrowing heavily, and putting the money into the system. But this compounds the problem. It is bad enough when shrinking tax base is no longer sufficient to pay the current bills, but then the government begins borrowing and spending. This money which the government is borrowing must be repaid. How can it be repaid when their already isn't enough revenue to fund entitlement spending, and the population is decreasing by 100,000 or more each year?

    It's always "yet," isn't it. Well, keep moving your goal posts back further and further and further. Whatever you do, don't give up your flawed and outdated ideology, which has yet to get any of its predictions right.

    "Yet" has already occurred. The decline of the population is the definitive sign. This decline is occurring rapidly, and each year the future population decline is revised downward. This is not a small problem, this is a catastrophe.

    The BOJ (which I can see out my window right now), and the government are struggling heroically (or diabolically) to keep things going. Without the prospect of growth, there is little more that they can do. Abe and his friends are borrowing, scraping, printing, and promising to keep the national ponzi scheme going, but all things must come to an end eventually.

    Posted in: Quiet critic of Kuroda's 'monetary shamanism' turns up the volume

  • -2

    sangetsu03

    I do give Abe credit for having a plan, and things did seem perky early last year, but after two years I can only give Abe a C+ for actual execution. The expectations were there in the early days but he's not lived up to them. In the news today yet another of his newly minted ministers appears to be involved in a funding issue. Of course I hope he can get it together but I won't take personal actions based on hope alone.

    I give Abe no credit, because he lied. There is no "third arrow", and it appears there was never any intention to deregulate or reform the econmy. Had there been meaningful reform, the easing and stimulus policies would have been less necessary, or nit necessary at all. But continued economic problems give Abe and his party an excuse to loot the Japanese economy through awarding "stimulus projects" with money which the government is printing and borrowing from itself.

    Yawn. The same old warnings about high inflation, "unmanagable" debt, bond sell-offs, rocketing interest rates, etc. Only one problem, folks: none of these scenarios have ever materialized.

    Yet.

    The situation is a lot like the sinking of the Titanic. It went down slowly, and the band played on. Because the people were not aware of the urgency of the sitiation, many did not escape, many of the lifeboats were empty. Abe, Amari, and Aso are telling the band to play on, but don't imagine for a moment that they will go down with the ship.

    Posted in: Quiet critic of Kuroda's 'monetary shamanism' turns up the volume

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