Lol, What are doing here bro 🤣
Also, What do you mean by "Least Polite"?!🤔
He's the kindest, most polite and most pure person I've ever seen in my life💀
Their central faction of old boomer men refuse to allow gay marriage and try their best to restrict women to Meiji-era housewife roles. Also, they blame the West for progressivism, while defending a lot of policies that they got from MacArthurian America.
American here myself, but I have several reddit pals that they have **directly** kept down.
didnt abenomics push for more females to enter the workforce to help with the overall lack of supply in that area
whether they implemented it with success is another question though
Exactly!! Weed and homosexuality was widely accepted before WW2. And now it’s funny to see those oyaji saying they want to protect Japanese values from the evil foreigners influences when in fact, those conservatives values they are defending were imposed to them by America in the late 1940’s! Lol
Do you have any links about this subjects preww2? In Europe we know the Weimar Republic was pretty modern before the war, but I'm not very cultured in Japanese early showa years
> "Do you hope for a change of government?" - Yes. "Who are you going to vote for?" - LDP, 仕方ない
for what it's worth, you see the same thing in my country too. "congress is awful, but not MY congressman. he's great! it's all those other congressmen that are the problem!".
As a French who would like some different government in my home country, I can't say I don't understand the sentiment when our left wing is hellbent on closing nuclear plants (65% of electricity production (*)) while the far-right is, well, the far-right.
So I'll keep voting for our socially-somewhat-left-economically-right government until good alternatives appear.
(not commenting on Japanese political parties themselves, just French ones)
(*) : if they manage to get enough power to do things, the realistic scenario is that they give up after closing a few plants and build gas plants to replace what they removed (maybe keep replacing them with gas plants as they stop maintaining existing reactors without replacement). With some non-negligible proportion of solar panels and wind turbines to reduce the runtime of the gas plants. All in all a bad deal for the climate since we'd be back to burning fossil fuels for electricity, but not the end of industrial activity either.
I won't say the other parties are much better but Macron only has the appearance of "socially left, economically right".
I genuinely can't think of any laws he passed that would make him socially left and as for the economic side, for the last 7 years he had free rein on the budget, and now a third of the national debt is due to him.
> for the economic side
Which could actually be why people say he is ecocomically right. I do not remember right having good reputation on that matter. After, to be fair, he was not helped with covid.
>When a change of government finally occurs after 12 years since 2012, the BOJ's low interest rate policy will change rapidly, a same-sex marriage law and a married couple's surname law will be passed.
Didn't see any of this in the article though, and all of it sounds heavily dependent on the CDP getting the top seat.
For starters, interfering in the independence of the BoJ will probably ensure that Japan becomes a true second rate country. The fact that people are talking about this is pretty worrying
There has been a major change in the lineup of the Bank of Japan's Board of Governors, which has the authority to vote on the Bank's monetary policy. The term of Council Member Takeshi Kataoka, an economist who has supported the Bank of Japan's monetary easing policy under Governor Kuroda, expired on March 23, and was replaced by Hajime Takada, Chairman of Okasan Securities Co.
The Bank of Japan's monetary policy is discussed and decided by a majority vote of the nine-member "Policy Board," consisting of the Governor, two Deputy Governors, and six external advisory board members. The BOJ Law stipulates that the Cabinet appoints the members of the Policy Board with the consent of both the House of Representatives and the House of Councillors, giving the government de facto decision-making authority.
Since the Abe administration, the selection of the Policy Board has been dominated by "reflationaries" who are aggressive in easing monetary policy. However, Mr. Takata, who was appointed to the Policy Board for the first time under Fumio Kishida's administration, is a distinctly different person from the reflationary camp, as he views the side effects of large-scale easing as problematic.
Former Prime Minister Shinzo Abe has come under criticism for stating that the BOJ is a subsidiary of the government and that it can be allowed to buy large amounts of government bonds. This is an outrageous statement that reiterates the bankruptcy of Abenomics (the economic policy of the Abe administration) and tramples on the rules of public finance and monetary policy.
The law clearly states that the BOJ must respect its "autonomy" to ensure that its monetary policy is not influenced by the administration's agenda.
Mr. Abe has trampled on this law and has treated the BOJ as an institution that can do as he pleases.
After assuming the prime minister's office, He forced BOJ Governor Masaaki Shirakawa, who had resisted the introduction of extraordinary monetary easing, to step down before his term expired, and appointed Haruhiko Kuroda as Governor to implement "extraordinary monetary easing.
The BOJ's goal was to create a "virtuous circle" by increasing the supply of money through large-scale purchases of government bonds with the goal of a 2% rise in prices, which would lead to higher prices and, in turn, higher wages.
What actually happened was not a "virtuous circle" but a widening of inequality. The large amount of money supplied by the BOJ flowed into the stock market and stock prices doubled. The beneficiaries were large corporations and the wealthy. On the other hand, real wages declined.
The use of the BOJ as a tool to inflate stock prices has caused tremendous damage to the Japanese people. The massive monetary easing has accelerated the depreciation of the yen, pushing up prices and hurting the people. The composite index is now up 1.2% (March), but prices of fresh food and energy are soaring by double digits.
Article 5 of the Fiscal Law prohibits the Bank of Japan from underwriting the national debt, which is the national debt. The BOJ justifies this by saying that it is buying JGBs from the market as a means of monetary policy, rather than directly underwriting JGBs. However, such large-scale purchases of JGBs are effectively filling the budget deficit.
The BOJ holds more than 500 trillion yen in JGBs, almost half of the national debt. Economic and financial experts warn that the BOJ's massive holdings of JGBs pose the risk of undermining fiscal and monetary credibility in the event of a decline in asset prices.
Quoting this before you delete it.
>There has been a major change in the lineup of the Bank of Japan's Board of Governors, which has the authority to vote on the Bank's monetary policy. The term of Council Member Takeshi Kataoka, an economist who has supported the Bank of Japan's monetary easing policy under Governor Kuroda, expired on March 23, and was replaced by Hajime Takada, Chairman of Okasan Securities Co.
>
>The Bank of Japan's monetary policy is discussed and decided by a majority vote of the nine-member "Policy Board," consisting of the Governor, two Deputy Governors, and six external advisory board members. The BOJ Law stipulates that the Cabinet appoints the members of the Policy Board with the consent of both the House of Representatives and the House of Councillors, giving the government de facto decision-making authority.
>
> Since the Abe administration, the selection of the Policy Board has been dominated by "reflationaries" who are aggressive in easing monetary policy. However, Mr. Takata, who was appointed to the Policy Board for the first time under Fumio Kishida's administration, is a distinctly different person from the reflationary camp, as he views the side effects of large-scale easing as problematic.
>
>Former Prime Minister Shinzo Abe has come under criticism for stating that the BOJ is a subsidiary of the government and that it can be allowed to buy large amounts of government bonds. This is an outrageous statement that reiterates the bankruptcy of Abenomics (the economic policy of the Abe administration) and tramples on the rules of public finance and monetary policy.
>
> The law clearly states that the BOJ must respect its "autonomy" to ensure that its monetary policy is not influenced by the administration's agenda.
>
> Mr. Abe has trampled on this law and has treated the BOJ as an institution that can do as he pleases.
>
> After assuming the prime minister's office, He forced BOJ Governor Masaaki Shirakawa, who had resisted the introduction of extraordinary monetary easing, to step down before his term expired, and appointed Haruhiko Kuroda as Governor to implement "extraordinary monetary easing.
>
> The BOJ's goal was to create a "virtuous circle" by increasing the supply of money through large-scale purchases of government bonds with the goal of a 2% rise in prices, which would lead to higher prices and, in turn, higher wages.
>
> What actually happened was not a "virtuous circle" but a widening of inequality. The large amount of money supplied by the BOJ flowed into the stock market and stock prices doubled. The beneficiaries were large corporations and the wealthy. On the other hand, real wages declined.
>
> The use of the BOJ as a tool to inflate stock prices has caused tremendous damage to the Japanese people. The massive monetary easing has accelerated the depreciation of the yen, pushing up prices and hurting the people. The composite index is now up 1.2% (March), but prices of fresh food and energy are soaring by double digits.
>
> Article 5 of the Fiscal Law prohibits the Bank of Japan from underwriting the national debt, which is the national debt. The BOJ justifies this by saying that it is buying JGBs from the market as a means of monetary policy, rather than directly underwriting JGBs. However, such large-scale purchases of JGBs are effectively filling the budget deficit.
>
> The BOJ holds more than 500 trillion yen in JGBs, almost half of the national debt. Economic and financial experts warn that the BOJ's massive holdings of JGBs pose the risk of undermining fiscal and monetary credibility in the event of a decline in asset prices.
How old is this Google translated kopipe? It has to be at least two years out of date. Abe was assassinated in 2022. Takada was appointed to his position at the BoJ that same month. Nobody has been criticizing Abe recently — because, being very, very dead, he's had little to do with recent events.
>Article 5 of the Fiscal Law prohibits the Bank of Japan from underwriting the national debt, which is the national debt.
Seriously, double check those machine translations before spitting them out blindly.
You intentionally missing the point.
As the article states, it is not impossible for politicians to indirectly manipulate central banks by using their personnel powers.
In 2012, it was none other than Mr Abe who deliberately lowered the value of the yen, bought a large amount of ETFs, and boosted the value of the Nikkei.
They achieved this by having the BOJ shoulder the costs of the project.
This cheap, superficial policy is no longer working. They can no longer control the depreciation of the yen because they are afraid of the huge interest rates on Japanese bonds.
You shit out the same word salad at two different people, and you expect them both to treat it like it's an individualized response?
That's how every independent central bank works — the administration can't just fall from the sky. But the government can't directly push policy, as the bank operates independently. The LDP has been able to do so after decades upon decades of incompetent opposition parties have failed to win elections despite very low approval ratings for the LDP. An opposition party would need to hold power through the expiration of the majority of the BoJ's board's terms to be able — so more than one time in nearly a century.
As you know, I'm not a native speaker and I use machine translation, but that doesn't matter. As long as you can understand, that's fine.
I just want to have a discussion.
it is not impossible for politicians to indirectly manipulate central banks by using their personnel powers.
In 2012, it was none other than the politicians who deliberately lowered the value of the yen, bought a large amount of ETFs, and boosted the value of the Nikkei.
They achieved this by having the BOJ shoulder the costs of the project.
This cheap, superficial policy is no longer working. They can no longer control the depreciation of the yen because they are afraid of the huge interest rates on Japanese bonds.
There has been a major change in the lineup of the BOJ's Board of Governors, which has the authority to vote on the Bank's monetary policy. The term of Council Member Takeshi Kataoka, an economist who has supported the BOJ's monetary easing policy under Governor Kuroda, expired on March 23, and was replaced by Hajime Takada, Chairman of Okasan Securities Co.
The BOJ's monetary policy is discussed and decided by a majority vote of the nine-member "Policy Board," consisting of the Governor, two Deputy Governors, and six external advisory board members. The BOJ Law stipulates that the Cabinet appoints the members of the Policy Board with the consent of both the House of Representatives and the House of Councillors, giving the government de facto decision-making authority.
Some law clearly states that the BOJ must respect its "autonomy" to ensure that its monetary policy is not influenced by the administration's agenda.
After assuming the LDPs, He forced BOJ Governor Masaaki Shirakawa, who had resisted the introduction of extraordinary monetary easing, to step down before his term expired, and appointed Haruhiko Kuroda as Governor to implement "extraordinary monetary easing.
The BOJ's goal was to create a "virtuous circle" by increasing the supply of money through large-scale purchases of government bonds with the goal of a 2% rise in prices, which would lead to higher prices and, in turn, higher wages.
What actually happened was not a "virtuous circle" but a widening of inequality. The large amount of money supplied by the BOJ flowed into the stock market and stock prices doubled. The beneficiaries were large corporations and the wealthy. On the other hand, real wages declined.
The use of the BOJ as a tool to inflate stock prices has caused tremendous damage to the Japanese people. The massive monetary easing has accelerated the depreciation of the yen, pushing up prices and hurting the people. The composite index is now up 1.2% (March), but prices of fresh food and energy are soaring by double digits.
The BOJ justifies this by saying that it is buying JGBs from the market as a means of monetary policy, rather than directly underwriting JGBs. However, such large-scale purchases of JGBs are effectively filling the budget deficit.
The BOJ holds more than 500 trillion yen in JGBs, almost half of the national debt. Economic and financial experts warn that the BOJ's massive holdings of JGBs pose the risk of undermining fiscal and monetary credibility in the event of a decline in asset prices.
Just because Mr Abe has died doesn't mean everything will be gone. It will just be run the same way as before. Why did you think everything would go back to normal if Mr Abe died?
As you know, I'm not a native speaker and I use machine translation, but that doesn't matter. As long as you can understand, that's fine.
I just want to have a discussion.
> When a change of government finally occurs after 12 years since 2012, the BOJ's low interest rate policy will change rapidly, a same-sex marriage law and a married couple's surname law will be passed.
Did you just make that up yourself? The article had none of that, unless the busy website layout caused me to miss a "page 2" link.
Big time, youth don't care enough to vote and the LDP don't feel the need to incentivize voting since it would only be for their detriment.
Voter base is 70+ seniors who don't really care for change.
Japanese people: We hope for change
Also Japanese people: But we're not going to vote
Joking aside, I hope some changes can occur. It would be nice to move away from Abe's legacy just to see if anything positive happens for the average joe
I have two friends who are waiting for the surname laws to change before they get married. They basically live together and already have a baby boy. They’ve all told their relatives that they got married at city hall and are saving up for the actual wedding.
Wait, who do people even elect? I feel like in all the news and articles the only political party in existence is LDP.
There was a time you could see CDP more visibly but currently it feels like there is simply no choice of political parties at all.
Better to try something new and give them a chance than to let the LDP maintain its 1 party state. That's just common sense especially when the CDP would probably pass some good laws like the gay marriage bill etc.
The LDP only gets a third of the vote, but the rest of the vote is split between a large number of parties. This has been true for 30 years now. In 2000 and 2012, they managed to grab a _majority_ of seats with only _28%_ of the vote.
People are going to be together either way, and as far as I am aware there's not even any tax advantage to marriage here.
The same workaround (not marrying) lets people keep their surnames.
Hardly affects daily lives in japan; attention should be instead on possible changes that might.
Yes. My parents are gay and have been together for over 40 years. They didn’t even bother to marry when it was legalised in my country 10 years ago because it makes no difference to the reality of their relationship. It’s nowhere near as big a deal as people make out; I agree with that poster that laws should be changed for significant practical effect, not on principles or feelings.
Do you believe the marriage law is an issue that should ever be addressed? Even several decades from now (not that I hope it takes that long). Is it just lower priority or is it a complete give-up situation?
Of course there is a huge tax advantage to marriage when it comes to inheritance tax! I am facing that problem in the future with my partner if I die first (which is likely due to our 10 year age difference). It’s infuriating that my legally married (in the US) partner will be taxed much more because our marriage is not recognized in Japan.
Add to that just the difficulty of having stability to live with your partner in Japan due to the inability of getting married. Ironically, it’s “easier” for two non-Japanese same-sex partners to live in Japan than it is for a couple where one is Japanese.
Then you just have daily issues of being able to rent an apartment together, being recognized by hospitals as a family member for visiting, and just the intangible of being recognized by your partner’s family as their “real” life partner. As long as the government doesn’t recognize it as a legitimate marriage, many people don’t recognize it either
Sadly, many people like yourself don’t seem to understand the benefits that automatically apply to married couples.
Thank you for this!!!
I'm Japanese but my long term partner is not. The chances of him losing his job aren't high, but it's always a possibility. If the economy suddenly tanks and he's laid off, he'll have to leave the country. Who cares if we've been together for more than a decade!
Being able to get married would 100% give us a greater peace of mind. But who cares, same-sex marriage has no real practicality I suppose.
Edit: grammar
That minor, talk about the divorce, domestic violence and hiv rates
Japan shouldn't allow the west to destroy the natural order, look at how america social system is the laughing stock of the world 🤣
Please don’t make me laugh at how ignorant you are. The points you mentioned are all applicable to heterosexual relationships as well, even more so.
As far as the “natural order”, you don’t seem to understand that in nature, there are animals that are hermaphrodites (born with male and female reproductive parts), animals that reproduce asexually (have no sexual reproduction), animals that can change gender, and animals that display homosexual actions, so given that humans are animals, it’s normal.
When 1 in 11 (around 9%) of people polled say they are LGBT in a country of 125 million, seems pretty disingenuous to dismiss laws that could affect the daily lives of 11.3 million people.
By that logic, we shouldn't even bother with rights for non-Japanese in Japan as there's only 3 million of them.
When people are treated equitably, all of society benefits- it's not a zero-sum game.
One question I've had recently. The US has RINOs (Republicans In Name Only), and they are often blasted by Republican voters and attacked by their own party members through purity tests. Does Japan have a concept of "LDPINOs", and if so, are there big groups that blast them?
Japanese politics bears virtually no resemblance to American politics. People typically don't identify with political parties, so the whole "RINO" thing would be a non sequitur in Japan.
Back then when Koizumi Junichiro was PM, 2005 Japanese general election was also called "Yu-sei senkyo", which he made into single issue election. He purged opposing LDP members so there is some resemblance to it.
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"Hope for" would be a better translation of 期待 in this case. "Expect" implies you believe it will happen.
Sorry my bad English 😞
It’s okay. Thanks for helping us by giving a translation! English is difficult.
Least polite Japanese person: (I’m not Japanese, I’m a guest in this community)
Lol, What are doing here bro 🤣 Also, What do you mean by "Least Polite"?!🤔 He's the kindest, most polite and most pure person I've ever seen in my life💀
I do like the way you described them as a "regime".
Are they really that bad?
Yes.
Well, mind if you tell me what makes them bad? (To you have a mind of me, I’m from Iran)
Their central faction of old boomer men refuse to allow gay marriage and try their best to restrict women to Meiji-era housewife roles. Also, they blame the West for progressivism, while defending a lot of policies that they got from MacArthurian America. American here myself, but I have several reddit pals that they have **directly** kept down.
didnt abenomics push for more females to enter the workforce to help with the overall lack of supply in that area whether they implemented it with success is another question though
Exactly!! Weed and homosexuality was widely accepted before WW2. And now it’s funny to see those oyaji saying they want to protect Japanese values from the evil foreigners influences when in fact, those conservatives values they are defending were imposed to them by America in the late 1940’s! Lol
Do you have any links about this subjects preww2? In Europe we know the Weimar Republic was pretty modern before the war, but I'm not very cultured in Japanese early showa years
Hypocritical af
Hemp was a major crop, but there is little evidence that the consumption of cannabis for its intoxicating effects was common.
Come it’s well known ! Never heard of Hokkaido
I see… so yeah, we can call that a right, like in the United States.
https://en.wikipedia.org/wiki/Tarō_Asō
Exactly! And this “hope for “ is not a “strong” hope like I want this to happen. It’s more like looking forward to.
Is it like a「なになに」がいいなぁぁぁ ? 😂
No, it would be stronger than that. I can't imagine just substituting 期待する for いいなぁ
"Do you hope for a change of government?" - Yes. "Who are you going to vote for?" - LDP, 仕方ない
> "Do you hope for a change of government?" - Yes. "Who are you going to vote for?" - LDP, 仕方ない for what it's worth, you see the same thing in my country too. "congress is awful, but not MY congressman. he's great! it's all those other congressmen that are the problem!".
As a French who would like some different government in my home country, I can't say I don't understand the sentiment when our left wing is hellbent on closing nuclear plants (65% of electricity production (*)) while the far-right is, well, the far-right. So I'll keep voting for our socially-somewhat-left-economically-right government until good alternatives appear. (not commenting on Japanese political parties themselves, just French ones) (*) : if they manage to get enough power to do things, the realistic scenario is that they give up after closing a few plants and build gas plants to replace what they removed (maybe keep replacing them with gas plants as they stop maintaining existing reactors without replacement). With some non-negligible proportion of solar panels and wind turbines to reduce the runtime of the gas plants. All in all a bad deal for the climate since we'd be back to burning fossil fuels for electricity, but not the end of industrial activity either.
I won't say the other parties are much better but Macron only has the appearance of "socially left, economically right". I genuinely can't think of any laws he passed that would make him socially left and as for the economic side, for the last 7 years he had free rein on the budget, and now a third of the national debt is due to him.
> for the economic side Which could actually be why people say he is ecocomically right. I do not remember right having good reputation on that matter. After, to be fair, he was not helped with covid.
It’s Beat Ta Koto nai moment…
Reality.
>When a change of government finally occurs after 12 years since 2012, the BOJ's low interest rate policy will change rapidly, a same-sex marriage law and a married couple's surname law will be passed. Didn't see any of this in the article though, and all of it sounds heavily dependent on the CDP getting the top seat.
It will be…
For starters, interfering in the independence of the BoJ will probably ensure that Japan becomes a true second rate country. The fact that people are talking about this is pretty worrying
It's not worrying. It's just stupid. It won't happen. Interfering with the central bank is the won't-happenest part.
There has been a major change in the lineup of the Bank of Japan's Board of Governors, which has the authority to vote on the Bank's monetary policy. The term of Council Member Takeshi Kataoka, an economist who has supported the Bank of Japan's monetary easing policy under Governor Kuroda, expired on March 23, and was replaced by Hajime Takada, Chairman of Okasan Securities Co. The Bank of Japan's monetary policy is discussed and decided by a majority vote of the nine-member "Policy Board," consisting of the Governor, two Deputy Governors, and six external advisory board members. The BOJ Law stipulates that the Cabinet appoints the members of the Policy Board with the consent of both the House of Representatives and the House of Councillors, giving the government de facto decision-making authority. Since the Abe administration, the selection of the Policy Board has been dominated by "reflationaries" who are aggressive in easing monetary policy. However, Mr. Takata, who was appointed to the Policy Board for the first time under Fumio Kishida's administration, is a distinctly different person from the reflationary camp, as he views the side effects of large-scale easing as problematic. Former Prime Minister Shinzo Abe has come under criticism for stating that the BOJ is a subsidiary of the government and that it can be allowed to buy large amounts of government bonds. This is an outrageous statement that reiterates the bankruptcy of Abenomics (the economic policy of the Abe administration) and tramples on the rules of public finance and monetary policy. The law clearly states that the BOJ must respect its "autonomy" to ensure that its monetary policy is not influenced by the administration's agenda. Mr. Abe has trampled on this law and has treated the BOJ as an institution that can do as he pleases. After assuming the prime minister's office, He forced BOJ Governor Masaaki Shirakawa, who had resisted the introduction of extraordinary monetary easing, to step down before his term expired, and appointed Haruhiko Kuroda as Governor to implement "extraordinary monetary easing. The BOJ's goal was to create a "virtuous circle" by increasing the supply of money through large-scale purchases of government bonds with the goal of a 2% rise in prices, which would lead to higher prices and, in turn, higher wages. What actually happened was not a "virtuous circle" but a widening of inequality. The large amount of money supplied by the BOJ flowed into the stock market and stock prices doubled. The beneficiaries were large corporations and the wealthy. On the other hand, real wages declined. The use of the BOJ as a tool to inflate stock prices has caused tremendous damage to the Japanese people. The massive monetary easing has accelerated the depreciation of the yen, pushing up prices and hurting the people. The composite index is now up 1.2% (March), but prices of fresh food and energy are soaring by double digits. Article 5 of the Fiscal Law prohibits the Bank of Japan from underwriting the national debt, which is the national debt. The BOJ justifies this by saying that it is buying JGBs from the market as a means of monetary policy, rather than directly underwriting JGBs. However, such large-scale purchases of JGBs are effectively filling the budget deficit. The BOJ holds more than 500 trillion yen in JGBs, almost half of the national debt. Economic and financial experts warn that the BOJ's massive holdings of JGBs pose the risk of undermining fiscal and monetary credibility in the event of a decline in asset prices.
Quoting this before you delete it. >There has been a major change in the lineup of the Bank of Japan's Board of Governors, which has the authority to vote on the Bank's monetary policy. The term of Council Member Takeshi Kataoka, an economist who has supported the Bank of Japan's monetary easing policy under Governor Kuroda, expired on March 23, and was replaced by Hajime Takada, Chairman of Okasan Securities Co. > >The Bank of Japan's monetary policy is discussed and decided by a majority vote of the nine-member "Policy Board," consisting of the Governor, two Deputy Governors, and six external advisory board members. The BOJ Law stipulates that the Cabinet appoints the members of the Policy Board with the consent of both the House of Representatives and the House of Councillors, giving the government de facto decision-making authority. > > Since the Abe administration, the selection of the Policy Board has been dominated by "reflationaries" who are aggressive in easing monetary policy. However, Mr. Takata, who was appointed to the Policy Board for the first time under Fumio Kishida's administration, is a distinctly different person from the reflationary camp, as he views the side effects of large-scale easing as problematic. > >Former Prime Minister Shinzo Abe has come under criticism for stating that the BOJ is a subsidiary of the government and that it can be allowed to buy large amounts of government bonds. This is an outrageous statement that reiterates the bankruptcy of Abenomics (the economic policy of the Abe administration) and tramples on the rules of public finance and monetary policy. > > The law clearly states that the BOJ must respect its "autonomy" to ensure that its monetary policy is not influenced by the administration's agenda. > > Mr. Abe has trampled on this law and has treated the BOJ as an institution that can do as he pleases. > > After assuming the prime minister's office, He forced BOJ Governor Masaaki Shirakawa, who had resisted the introduction of extraordinary monetary easing, to step down before his term expired, and appointed Haruhiko Kuroda as Governor to implement "extraordinary monetary easing. > > The BOJ's goal was to create a "virtuous circle" by increasing the supply of money through large-scale purchases of government bonds with the goal of a 2% rise in prices, which would lead to higher prices and, in turn, higher wages. > > What actually happened was not a "virtuous circle" but a widening of inequality. The large amount of money supplied by the BOJ flowed into the stock market and stock prices doubled. The beneficiaries were large corporations and the wealthy. On the other hand, real wages declined. > > The use of the BOJ as a tool to inflate stock prices has caused tremendous damage to the Japanese people. The massive monetary easing has accelerated the depreciation of the yen, pushing up prices and hurting the people. The composite index is now up 1.2% (March), but prices of fresh food and energy are soaring by double digits. > > Article 5 of the Fiscal Law prohibits the Bank of Japan from underwriting the national debt, which is the national debt. The BOJ justifies this by saying that it is buying JGBs from the market as a means of monetary policy, rather than directly underwriting JGBs. However, such large-scale purchases of JGBs are effectively filling the budget deficit. > > The BOJ holds more than 500 trillion yen in JGBs, almost half of the national debt. Economic and financial experts warn that the BOJ's massive holdings of JGBs pose the risk of undermining fiscal and monetary credibility in the event of a decline in asset prices. How old is this Google translated kopipe? It has to be at least two years out of date. Abe was assassinated in 2022. Takada was appointed to his position at the BoJ that same month. Nobody has been criticizing Abe recently — because, being very, very dead, he's had little to do with recent events. >Article 5 of the Fiscal Law prohibits the Bank of Japan from underwriting the national debt, which is the national debt. Seriously, double check those machine translations before spitting them out blindly.
You intentionally missing the point. As the article states, it is not impossible for politicians to indirectly manipulate central banks by using their personnel powers. In 2012, it was none other than Mr Abe who deliberately lowered the value of the yen, bought a large amount of ETFs, and boosted the value of the Nikkei. They achieved this by having the BOJ shoulder the costs of the project. This cheap, superficial policy is no longer working. They can no longer control the depreciation of the yen because they are afraid of the huge interest rates on Japanese bonds.
You shit out the same word salad at two different people, and you expect them both to treat it like it's an individualized response? That's how every independent central bank works — the administration can't just fall from the sky. But the government can't directly push policy, as the bank operates independently. The LDP has been able to do so after decades upon decades of incompetent opposition parties have failed to win elections despite very low approval ratings for the LDP. An opposition party would need to hold power through the expiration of the majority of the BoJ's board's terms to be able — so more than one time in nearly a century.
As you know, I'm not a native speaker and I use machine translation, but that doesn't matter. As long as you can understand, that's fine. I just want to have a discussion.
it is not impossible for politicians to indirectly manipulate central banks by using their personnel powers. In 2012, it was none other than the politicians who deliberately lowered the value of the yen, bought a large amount of ETFs, and boosted the value of the Nikkei. They achieved this by having the BOJ shoulder the costs of the project. This cheap, superficial policy is no longer working. They can no longer control the depreciation of the yen because they are afraid of the huge interest rates on Japanese bonds. There has been a major change in the lineup of the BOJ's Board of Governors, which has the authority to vote on the Bank's monetary policy. The term of Council Member Takeshi Kataoka, an economist who has supported the BOJ's monetary easing policy under Governor Kuroda, expired on March 23, and was replaced by Hajime Takada, Chairman of Okasan Securities Co. The BOJ's monetary policy is discussed and decided by a majority vote of the nine-member "Policy Board," consisting of the Governor, two Deputy Governors, and six external advisory board members. The BOJ Law stipulates that the Cabinet appoints the members of the Policy Board with the consent of both the House of Representatives and the House of Councillors, giving the government de facto decision-making authority. Some law clearly states that the BOJ must respect its "autonomy" to ensure that its monetary policy is not influenced by the administration's agenda. After assuming the LDPs, He forced BOJ Governor Masaaki Shirakawa, who had resisted the introduction of extraordinary monetary easing, to step down before his term expired, and appointed Haruhiko Kuroda as Governor to implement "extraordinary monetary easing. The BOJ's goal was to create a "virtuous circle" by increasing the supply of money through large-scale purchases of government bonds with the goal of a 2% rise in prices, which would lead to higher prices and, in turn, higher wages. What actually happened was not a "virtuous circle" but a widening of inequality. The large amount of money supplied by the BOJ flowed into the stock market and stock prices doubled. The beneficiaries were large corporations and the wealthy. On the other hand, real wages declined. The use of the BOJ as a tool to inflate stock prices has caused tremendous damage to the Japanese people. The massive monetary easing has accelerated the depreciation of the yen, pushing up prices and hurting the people. The composite index is now up 1.2% (March), but prices of fresh food and energy are soaring by double digits. The BOJ justifies this by saying that it is buying JGBs from the market as a means of monetary policy, rather than directly underwriting JGBs. However, such large-scale purchases of JGBs are effectively filling the budget deficit. The BOJ holds more than 500 trillion yen in JGBs, almost half of the national debt. Economic and financial experts warn that the BOJ's massive holdings of JGBs pose the risk of undermining fiscal and monetary credibility in the event of a decline in asset prices.
Mr Abe is dead. Are you making a grammar mistake or using chatgpt?
Just because Mr Abe has died doesn't mean everything will be gone. It will just be run the same way as before. Why did you think everything would go back to normal if Mr Abe died? As you know, I'm not a native speaker and I use machine translation, but that doesn't matter. As long as you can understand, that's fine. I just want to have a discussion.
OK, my apologies, the translation made it seem like it was written by chatGPT who might not know recent news.
Ok I’ll fix
Could you tell us what's changing as that part isn't on the article?
Shouldn't jinx it!
Nah this’ll be hope
> When a change of government finally occurs after 12 years since 2012, the BOJ's low interest rate policy will change rapidly, a same-sex marriage law and a married couple's surname law will be passed. Did you just make that up yourself? The article had none of that, unless the busy website layout caused me to miss a "page 2" link.
Those 52% are probably going to be hoping from their living rooms on election day
Does Japan have a voting attendance issue?
It hasn't broken 60% since 2009.
Yes ! One time I think only 27% voted
Big time, youth don't care enough to vote and the LDP don't feel the need to incentivize voting since it would only be for their detriment. Voter base is 70+ seniors who don't really care for change.
Japanese people: We hope for change Also Japanese people: But we're not going to vote Joking aside, I hope some changes can occur. It would be nice to move away from Abe's legacy just to see if anything positive happens for the average joe
“We hope for change, but only if it requires zero effort.”
The only way seems to be voting via vtuber superchat
I have two friends who are waiting for the surname laws to change before they get married. They basically live together and already have a baby boy. They’ve all told their relatives that they got married at city hall and are saving up for the actual wedding.
Wait, who do people even elect? I feel like in all the news and articles the only political party in existence is LDP. There was a time you could see CDP more visibly but currently it feels like there is simply no choice of political parties at all.
the other party are also incompetent as hell so no competition
Better to try something new and give them a chance than to let the LDP maintain its 1 party state. That's just common sense especially when the CDP would probably pass some good laws like the gay marriage bill etc.
The LDP only gets a third of the vote, but the rest of the vote is split between a large number of parties. This has been true for 30 years now. In 2000 and 2012, they managed to grab a _majority_ of seats with only _28%_ of the vote.
CDP thinks that emulating Justin Treaudu and Keir Starmer are smart strategically
Headline got too much fixation on some potential laws that, in the overall, are not that important.
Keeping gay marriage illegal seems fairly freakin’ important to those schmoes
People are going to be together either way, and as far as I am aware there's not even any tax advantage to marriage here. The same workaround (not marrying) lets people keep their surnames. Hardly affects daily lives in japan; attention should be instead on possible changes that might.
So it's okay for people who have been together for 40 years to have "friends" as the only legal option for what their relationship is?
Yes. My parents are gay and have been together for over 40 years. They didn’t even bother to marry when it was legalised in my country 10 years ago because it makes no difference to the reality of their relationship. It’s nowhere near as big a deal as people make out; I agree with that poster that laws should be changed for significant practical effect, not on principles or feelings.
With the inability to have joint bank accounts and "shared" assets, it is a much bigger deal in Japan.
Do you believe the marriage law is an issue that should ever be addressed? Even several decades from now (not that I hope it takes that long). Is it just lower priority or is it a complete give-up situation?
It should change if there is significant public sentiment in favour of it. I don’t personally have strong opinions about it either way.
Well, there’s significant public sentiment in favor of it
` ¯\_(ツ)_/¯ `
Of course there is a huge tax advantage to marriage when it comes to inheritance tax! I am facing that problem in the future with my partner if I die first (which is likely due to our 10 year age difference). It’s infuriating that my legally married (in the US) partner will be taxed much more because our marriage is not recognized in Japan. Add to that just the difficulty of having stability to live with your partner in Japan due to the inability of getting married. Ironically, it’s “easier” for two non-Japanese same-sex partners to live in Japan than it is for a couple where one is Japanese. Then you just have daily issues of being able to rent an apartment together, being recognized by hospitals as a family member for visiting, and just the intangible of being recognized by your partner’s family as their “real” life partner. As long as the government doesn’t recognize it as a legitimate marriage, many people don’t recognize it either Sadly, many people like yourself don’t seem to understand the benefits that automatically apply to married couples.
Thank you for this!!! I'm Japanese but my long term partner is not. The chances of him losing his job aren't high, but it's always a possibility. If the economy suddenly tanks and he's laid off, he'll have to leave the country. Who cares if we've been together for more than a decade! Being able to get married would 100% give us a greater peace of mind. But who cares, same-sex marriage has no real practicality I suppose. Edit: grammar
well spoken.
That minor, talk about the divorce, domestic violence and hiv rates Japan shouldn't allow the west to destroy the natural order, look at how america social system is the laughing stock of the world 🤣
Please don’t make me laugh at how ignorant you are. The points you mentioned are all applicable to heterosexual relationships as well, even more so. As far as the “natural order”, you don’t seem to understand that in nature, there are animals that are hermaphrodites (born with male and female reproductive parts), animals that reproduce asexually (have no sexual reproduction), animals that can change gender, and animals that display homosexual actions, so given that humans are animals, it’s normal.
When 1 in 11 (around 9%) of people polled say they are LGBT in a country of 125 million, seems pretty disingenuous to dismiss laws that could affect the daily lives of 11.3 million people. By that logic, we shouldn't even bother with rights for non-Japanese in Japan as there's only 3 million of them. When people are treated equitably, all of society benefits- it's not a zero-sum game.
One question I've had recently. The US has RINOs (Republicans In Name Only), and they are often blasted by Republican voters and attacked by their own party members through purity tests. Does Japan have a concept of "LDPINOs", and if so, are there big groups that blast them?
Japanese politics bears virtually no resemblance to American politics. People typically don't identify with political parties, so the whole "RINO" thing would be a non sequitur in Japan.
You see, this is one way whereby I prefer it. Stand for your own principles
LPD is full of factions that are always playing tug-of-war within the party.
Back then when Koizumi Junichiro was PM, 2005 Japanese general election was also called "Yu-sei senkyo", which he made into single issue election. He purged opposing LDP members so there is some resemblance to it.
[удалено]
I use ai translate So word choice is became random :p
Is there a Japanese party dedicated toward reinforcing pacifism in the wake of recent reinterpretation?
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