Rakuraku comments

Looking at a map of the trajectory of this typhoon, it seems that it should not be too bad in Tokyo.

Aso has a son. I am sure he will a proud and happy father if his son lose his life to defend Taiwan!

MeiyouwentiToday  07:46 am JST

As the issuer of its own currency, the government can’t run out of money and yet it refused to pay just 300 million yen of the museum’s utility bills. This is national disgrace. The cult of balanced budget has wrecked havoc on Japan’s economy for three decades.

Come on Japan is the most indebted country in the developed world with a debt to deficits ratio of 263%.

it probably not had a single balanced budget over the past 30 years.

and there is a limit to finance the budget by printing your own currency. This is the depreciation of your currency as currently evidenced with the melting JPY.

@SDCA

Well according to this expert who studies and conducts research in consumer psychology and has a PhD in economics, everyone has apparently come to accept price increases:

https://japantoday.com/category/quote-of-the-day/We-feel-that-customers-have-taken-a-break-from-their-saving-oriented-lifestyles-and-have-come-to-accept-price-increases

This is about depato where maybe only the top 10 % (probably less) shop regularly These people benefited from the stock bull market so do not care too much about prices. The 90% shopping at their local supermarket may have a different opinion!

JayToday  05:55 pm JST

So is 12% of the population

More than 1 in 10 people are gay now? Ridiculously inflated figures. Keep dreaming.

Of course difficult to know exactly as they are not yet video camera in bedroom thanks God!

But it seems that it is around 8% (even you can see all types of figures if you Google it). So probably a bit less that one out of 10 but not that far.

So what?

From Japan's political perspective, a possible policy change later in the year would carry too much risk for equity markets, as a general election is likely to take place in the fall, analysts said.

I thought central bank were supposed to be independent from the government. After all this is their very raison d’être,

But after all this is the country where Abe said that the Bank of Japan was a subsidiary of the government!

If we look at the core core inflation ,which is the important one, it is now at 4.2 % in Japan versus 5.5 % in the Eurozone and 4.8% in US (in addition  Japan rate  is rising while US and Eurozone falling). What is the BOJ waiting to take action? Do they want to do nothing now and then have to raise rates very aggressively like in the US and Eurozone because they started taking action  too late? Why can’t they learn anything from other central banks. Ridiculous.

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englisc aspyrgendToday  06:45 am JST

Not knowing Japans meteorological environment, is Japan usually humid as well as being hot or is it a dry heat? Humidity can greatly increase the impact of temperature. 25 to 30 C in Britain can be hard to bear and catches out visitors used to far higher dry temperatures, because it is always humid throughout the year. If Japan is 40 degrees and humid that will be tough!

Living in an air conditioned environment can prevent the bodies natural ability to acclimatise and adapt to environments.

Humid type. Add 5 degrees if you compare to dry heat. For ex today 37 degrees in Tokyo which feels like 42 in dry heat.

Absolutely impossible to live without air conditionned in most of Japan.

RakurakuToday 03:04 pm JST

one_consciousnessToday  01:27 pm JST

Govts like to use them to evaluate their education system, but they get less attention as the years pass.

It's not what you know (or what you have retained up to test day); it's how creative and innovative you are; it's whether you can think outside the box, be an independent thinker, not be afraid to speak up and express your opinion, network easily and be outgoing.

Unfortuanyl, none of these are strong traits among Japanese graduates.

very true in a Western environment but probably less so in Japan.

What do you mean? That in Japan, academic is economically valuable? How so?

What I mean is that in many Japanese compagnies this is not the ones who are the most independent thinkers you are promoted the quickest . In Japan harmony with the group is the most important thing. If you think too independently you are at risk be excluded from the group. I saw that first that first hand in a Japanese company for which I worked for a few years.

Of course this may vary according to the economic sector. The one I was working for was a very conservative one.

one_consciousnessToday  01:27 pm JST

*

Govts like to use them to evaluate their education system, but they get less attention as the years pass.

It's not what you know (or what you have retained up to test day); it's how creative and innovative you are; it's whether you can think outside the box, be an independent thinker, not be afraid to speak up and express your opinion, network easily and be outgoing.

Unfortuanyl, none of these are strong traits among Japanese graduates.

very true in a Western environment but probably less so in Japan.

Marr BourdeinToday  10:07 am JST

In Japan all workers pay about 20% if their salaries to a retirement fund system. Unfortunately when it's time to receive its compensation, the amount received is not enough to live on. According to what my parents in law receive is about 80,000 yen per person. My father in law still works but can't earn more than 100,000 yen or else he has to pay taxes and his compensation will be reduced. Having a part time job is now a necessity if you want to live on retirement/nenkin. If the person who wants to receive benefits, depending amount accrued and retirement age will depend on the amount and length of benefits. Be adviced though, benefits are not always paid until death. Sometimes family picks up the tab, that's where things get tough and expensive. The social system here is quite basic and dull because their is no money for everyone retiring. Most of the funds WE put in to this monetary system will never be benefited

You are right public pension are incredibly low in Japan and many elderly have a miserable life. I am from a European country where pension la are much higher but taxes and social contribution much higher as well (20% of VAT versus 10% in Japan etc).

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Peter14Today  01:54 pm JST

Japan is certainly not alone in facing the ravages of inflation.

yes but the difference is the BOJ tells everyday that it WANTS higher inflation and does nothing to moderate it even though it has been well above it 2 % target for 13 months.

BordeauxToday  10:14 am JST

I predict that TV station at the request of the Japanese government will start playing TV shows that compares now to previous decades like 70's, 80's and 90's to try and make people feel better about their situation (The illogical "Whataboutism" argument!). They will show expensive prices of everyday goods from decades when Japan was more closed off from the global economy.

Japanese consumer: The economy is terrible, and the government is terrible (ex. my Number, economy)

NHK: At least you did not live during the great depression.

Japanese consumer: So, da ne!

Hilarious but so true!

Japan inflation is now at 3.2 %(core cpi) and will soon be higher than US one 4% ( core cpi).

But the BOJ tells us that the inflation is transitory. This is exactly what the fed and the ecb used to say before inflation became very high and they had to hike rates massively to try to control it. These BOJ guys que unable to adapt to a reality that is totally different. Soon they will have to act in panic under the market pressure. Ridiculous.

@Jeff Lee

The country has stayed the course because its inflation is much milder than its peers.

it has been much milder but soon may not be the case anymore. Core cpi is now 4 ％in the US and falling , Japan 3.1 % and rising. In a few month if the BOJ continue to print like crazy and the JPY to weaken we may well have an inflation above US and there will be not excuse for the BOJ for playing with fire.

Thé BOJ pushing the accelerator of the jpy depreciation and inflation. And at the same time the government pressing the break and subsidizing energy price. The duo think they can perfectly control inflation , FX and interest rate at the same time. This is not possible.

Without the BOJ, the government would not have been able to borrow like a drunken sailor. Hard to be confident about the future when living in a country with such a massive public debt. Maybe (of course i can not be sure)companies would be more inclined to increase wages if there was more visibility about the future.

Good point for the GPIF even though 25 % of the portfolio is in a JGB at -3.5 interest rate thanks yo the BOJ.

For me theBOJ has created an environment which made possible it for the government to kick the can down the road for to long.

Sorry I meant they are NOT invested of course

JeffLeeToday  06:50 am JST

Japan is NOT part of this dialogue! LOL. We should all be celebrating here, where the socio-economic policies are a lot more sensible than in other developed countries.

Try to explain that to the hordes of working slaves on a JPY 1100 minimum wage…

They are invested in the stock market or hold foreign currencies.

The reality is the one described by kurisupu.

La vie douceToday  08:31 am JST

"The yen is 130 to 1 USD right now, I don't remember it ever reaching 143 this year"

You better check today's rate then , its 143.5 to USD as I write this.

seems your phone is broken. Getting a new one will cost you a fortune with the JPY at this level!

Jonathan PrinToday  07:01 am JST

Yen level should had never been so high compare to the dollar and euro. Economic zones comparison shiws the yen needs to drop even way more, as when some 40 years ago.

Why a dropping population of 123 millions persons would be an economic zone as important as 350 for the USA or the Eurozone ?

All was enable by zero rate for too long time. Now the wind will be blowing in opposite way for long long time.

Doyou really believe that a sound and strong economy can be built on a melting currency? If you want a sound economy look at Switzerland. They have the strongest currency in the world and yet their exporting companies are doing great. Why because they have to adapt to be able to remain competitive despite a strong currency .

These comparisons are conducted by converting all other currencies into USD. Given the current value of JPY, it's not surprising that the number of Japanese super-wealthy individuals is declining. However, in JPY, these super-wealthy individuals who invest a significant portion of their money in foreign-denominated assets are growing increasingly wealthier.

nonu6976Today 06:09 pm JST Japan is a perfect example of overtaxing it’s populations.

Totally agree - is the main reason I plan on leaving next year actually.

In Singapore and Hong Kong definitely. I guess in the US as well but European countries tax more than Japan in particular for VAT with a 20% rate instead of 10% in Japan.

JeffLeeToday  06:20 pm JST

Seems the Boj was correct that the high inflation that started after the Ukraine invasion was temporary. Now it's 3.2 percent. Crude prices are also coming down, so expect the effects of that to eventually filter through to the general economy.

We're not too far off 2 percent. So best to keep policy loose, although the cheaper yen is a drag for us yen-earning residents.

Not to sure that what BOJ does is a great success:

“Japan's average monthly wage dropped 3.0% in inflation-adjusted real terms in April from a year earlier, marking the 13th straight month of decline, labor ministry data shows”.

if companies do not increase wages anyway let’s go back to the 0% inflation!

MarkToday  08:25 am JST

Keep Talking Boys and Girls, a conflict is NOT an option. We the people refuse to accept any war or conflicts, we are SICK and TIRED of some war mongers destroying our ways of life. so keep on talking.

Yes, nice to see that Blinken spent 6 hours talking with his counterpart and the meeting lasted one hour longer than expected.

xin xinToday  06:42 pm JST

One pair of confused identities. Among how many? Not that many. Could have happened anywhere. So why is this even newsworthy?

I agree always this tendency to make a mountain out of a molehill. This tendency is what makes life so stressful here. They are many reasons to hate this card but that a couple of cards were not given to the right person should not make top news,

GillislowTierToday  10:26 am JST

I always wonder why the Japanese royal family dresses like it’s 1900. Like… the rest of the royal families in the world dress in modern fashion for the most part. Genuine curiosity, is it a mandatory thing, just like the style? Would be curious to know the actual reason.

Well, Japan is probably the most conservative country in the world. Nothing ever changes here. Conservatism has some positive sides, but I think they push it a bit too far here.

> YubaruToday  07:12 am JST

Wow, I am surprised at the number, considering the economic situation, particularly the huge increase in cost of living expenses, that anyone would want to come here.

It is all about FX. With the USD JPY at 141, JPY is at its lowest since 1998. If you adjust it for the difference in inflation rates (which is more relevant), the JPY is at its lowest level since the 1970s. Japan is on sale!

TemyongToday  09:24 pm JST

Japan understands the economy very well and is not following the destructive path of the US Federal Reserve tightening money by raising interest rates that has put America at the cusps of total economic collapse. This was done intentional because the new world order agenda will not be possible if you have a strong America. Go Japan!

Over the past 30 years real wages have grown by 90% in US , 70% in Eurozone and have declined by 8% in Japan but Japan understands economy very well…

The JPY will soon have no more value than toilet paper. This guy has not learned anything from the Fed and ECB that were too late to hike and then had to hike very aggressively to catch up and have great difficulties getting back inflation to reasonable levels. It is very obvious that now inflation is not only due to energy prices but is becoming widespread. Big policy mistake from Ueda that seems to be as bad as KurodaI !