fxgai comments

Posted in: Facebook to restore Australia news pages after deal on media law See in context

warrants regulation due to monopoly status

Not sure that is true... Facebook doesn’t seem to have a monopoly because many people have been quitting it. I personally rarely ever use it.

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Posted in: Facebook to restore Australia news pages after deal on media law See in context

platforms should pay anyone for links

Lol, links is how the entire Internet works.

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Posted in: Tiger Woods seriously injured in California car crash See in context

this guy needs to practice his driving more, it must be said

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Posted in: Tiger Woods seriously injured in California car crash See in context

This guy... tragic hero... but if he gets to play again he has to take care of himself and be humble.

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Posted in: Travel agency JTB to cut capital to become eligible for tax advantage See in context

Yet another example of government policy having knock-on unintended consequences to economic behavior.

Week after week there are such stories, pretty much any news story you read on JT that mentions government, is a story of government being the origin of the problem.

We’d be better off if we kept government out of our lives and have it quit its attempts to micro manage economic activity.

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Posted in: Already a star, on court and off, Osaka eyes more See in context

Wow it’s amazing to me that such a positive story could bring out such negative reactions from JT readers.

Naomi Osaka is well lived everywhere, but you wouldn’t know it from the dozen or so gloomsters that lurk around here

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Posted in: Already a star, on court and off, Osaka eyes more See in context

Is it really necessary to have a story about this woman every day? I'm sick of hearing about her.

She won the Australian Open yesterday night.

Is it so hard for you to not read the story if you don’t want to? And if it makes you sick? No one is holding a gun to your head over this, I imagine...

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Posted in: Japanese companies shun blanket wage hikes amid coronavirus pain See in context

You're also assuming that once other people ('us') got more power, they would themselves be immune to corruption 

You’ve missed the point completely.

The system I prefer decentralizes power, and leaves people in charge of their own lives.

It is the concentration of power in central governments that leads to corruption.

If people of Holland and Switzerland are happy with their situation that’s great. But people in many countries are whining and moaning about their governments and rightly so. So these government systems are obviously fallible, since they only work if the right people are in power, which is often not the case.

We need to put shackles on government rather than let government out shackles on us.

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Posted in: Leader of political party that refuses to pay NHK ordered to pay NHK See in context

Ain’t it funny how a private business cannot force you to pay for services, but a government backed outfit like NHK can?

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Posted in: Pandemic puts pressure on gov't to open up rice stockpile to charities See in context

It's like arriving at a mass casualty accident and asking the injured how they feel and asking them to fill out the paperwork. With all the taxes we pay and being squandered by the politicians it's absolutely infuriating.

Politicians and “public servants”. Tell me about it.

Can you imagine a private sector business where paying fees was mandatory but to receive any service in return you have to fill out some paperwork and provide copies of documents of this and that, and when you got anything out of it it was worth less to you than the fees you paid and the rigmarole of the paperwork?

Of course you’d take your business elsewhere.

Why do we persist with this notion that centralized bureaucracies might help us and spend our money for us better than we might be able to spend it for ourselves?

I’d rather keep more of my money, and spare my time instead of filling out paperwork, in exchange for being more responsible and in control over my own affairs.

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Posted in: Pandemic puts pressure on gov't to open up rice stockpile to charities See in context

if the import tax on rice was not so exorbitant, people would not have to pay such exorbitant prices for rice.

Exactly. Yet another case of government policy-inflicted damage.

A case where self-protectionism is proving counter-productive.

It’s never true self-protectionism. It is protectionism for vested interests, paid for by the rest of us including the poor.

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Posted in: Pandemic puts pressure on gov't to open up rice stockpile to charities See in context

Isn't a government ment to improve life?

if one wants life improved, waiting for the government to improve it will be a futile exercise.

Government is the cause of many problems, and rarely the solution to any.

Second Harvest Japan’s homepage is here for those inclined: 2hj.org/

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Posted in: Japanese companies shun blanket wage hikes amid coronavirus pain See in context

Rather, that people can influence politics and that it would matter to us is precisely why I believe we need to have less government in our lives and retain more freedom for ourselves.

Crony capitalism wouldn’t be much good if government were restrained to a more suitable scope and it was us who had more power.

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Posted in: Japanese companies shun blanket wage hikes amid coronavirus pain See in context

capitalism at its best.

This is not capitalism.

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Posted in: Japanese companies shun blanket wage hikes amid coronavirus pain See in context

Except for the exaggeration using absolutes, the opposite has been the case for the last forty years, with rising profits and stagnant wages almost across the board. Hard to exercise your capitalist freedom when this phenomenon is so prevalent.

Anyone who produces things of value that other people will benefit from does fine in a capitalist system.

And the last forty years have produced massive benefits and advances for billions, to the extent that we have capitalist systems at all.

As you have pointed out there is not much capitalist about governments bailing out those who manage to have government do their bidding. There is nothing free market about Peter demanding the government rob Paul and have the money paid to Peter or even Sam. Free markets don’t have government coercing us to do such things or face prison.

To the extent wages are stagnant and there is a problem (dubious claim itself), it is not due to people mutually agreeing to cooperate with one another in a free market.

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Posted in: Japanese companies shun blanket wage hikes amid coronavirus pain See in context

unrestricted capitalism ends up harmful society.

“Unrestricted”, in what sense?

Free markets require some things, such as property rights to work.

So few would argue for “unrestricted”.

What is extreme about people in a free market voluntarily cooperating with each other without coercion to achieve mutual benefits?

There is nothing extreme about this, except the decentralization of power from those who would use the power to coerce others to do things that they otherwise would not.

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Posted in: Japanese companies shun blanket wage hikes amid coronavirus pain See in context

Why not have workers have an actual proportional share in line with earnings

Shareholders could choose to run a company that way, if they wanted to.

@Wolfpack has this down:

capitalism allows you to start a private company, earn loads of cash, and pay your employees the same amount you make. It’s called freedom. Capitalism doesn’t require you to change the system. The system is up to you.

The system is up to each of us to have our independent influences on.

And there are people who do exactly this sort of stuff. There is this guy Dan Price who pays his staff $70,000 salaries because of whatever he believes. His actions are part of the free market system, and to the extent that he may be inclined to pay people handsomely, all workers benefit from the shift in the demand and supply curves for labour.

It is a problem for no one that some economic actors would choose to pay high wages.

The key is that there is no coercion in these exchanges. Both sides of the exchange can choose to enter it voluntarily if they estimate that they will benefit from it.

But what Japan has, with these across the board wage negotiations is a more centralized scheme that doesn’t produce good outcomes.

Just look at all the moaning in the comments section here.

Raising wages by 2% for 7 years as noted in the article:

Major firms offered pay hikes of 2% or more each spring for seven straight years through last year as the government pressured businesses to boost pay

The result?

Whinging at moaning at JT.

I’ve got an idea.

How about the shareholders get nothing when times are good, and suffer huge losses when times are bad, and employees get all the profits, when there are any? And we have that all be declared law by government?

Who is with me? Let’s hammer the shareholders!!

Time to double down. “Merit-based”, what is that? But if it means that both employer and employee agree to continue the labour arraignment they have, that’s not on. Let’s have more union and government involvement to screw the employers over.

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Posted in: Japan, U.S. agree on cost of hosting American forces in FY2021 See in context

Who cares who pays the money, it’s 2021 and we now know that we can just print the money to pay for anything right?

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Posted in: From Twitter star to vaccine czar: Taro Kono's moment in the spotlight See in context

Like many other LDP politicians, Kono believes in raising taxes to balance the budget. He’s not the man to turn the Japanese economy around.

Funny, if that comment and conclusion were made in the US context it’d be quite unpopular here on JT.

Balancing Japan’s budget could be done by slashing and shrinking the role of government in Japan (which I personally would support) but I can’t see any politically viable (in Japan) approach that doesn’t involve further tax hikes, in addition to some spending cuts.

But my base case is that eventually action is forced upon the government by market forces, rather than it and the voters getting their act together and dealing with the issues preemptively.

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Posted in: From Twitter star to vaccine czar: Taro Kono's moment in the spotlight See in context

Some in the LDP feel he is too young, given the average age since 2000 for premiers to take office is roughly 62

Yeah at 58 years he is obviously too green still for some moronic people.

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Posted in: Bitcoin soars to new high above $52,000; sustainability concerns rise See in context

Interesting point in the article about such dead bitcoins, I am apparently not the only one...

The reason I haven’t sold yet is because there are hoops to be jumped first...

I much prefer gold based assets to this ridiculous bubble digital nonsense.

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Posted in: LDP wants more women at meetings, but only if they don't talk: Nikai See in context

Great. After reading just the headline and hoping it is true, I conclude that this is the end of Nikai.

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Posted in: Cost of a single Bitcoin exceeds $50,000 for first time See in context

there is consensus that Bitcoin has value as a hedge against inflation

Not sure who that consensus refers to.

I own some crypto, but purely in order to participate in a bubble market. I wouldn’t blink an eye if fxgaicoin comes out tomorrow and is so much better than Bitcoin that everyone stampedes out of it rapidly.

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Posted in: Nikkei ends at fresh 30-year high as heavyweights gain, yen weakens See in context

What I do not understand is the contradiction between seeming to approve of public bailouts of financial institutions and corporations with zero-interest loans ,QE and direct stimulus

As for myself, I am not in favour of these schemes. Bailouts least of all, as that’s tax payer money.

We adults should be taking care of ourselves, and that includes being prepared for the rainy days and disaster years like 2020 was for certain unfortunate people.

Zero interest loans doesn’t sound so bad these days as rates have been lower but certainly I don’t want my money being funneled through government to be spent in such ways that may not be consistent with my desires either.

I want less dependence on government, and individuals more in control of their own money. And I absolutely would have such a system eliminate such bailouts and such that you rail against.

The problem is getting the power greedy do-gooders to stay out of it.

I was dismayed for instance last year when Komeito successfully wagged the dog (again) when they had the LDP deal out trillions of yen to everyone in Japan.

Ee have to keep power out of this concentrated place in Tokyo or wherever our capital is. The more centralized power is the more insane things they can do.

The flip side is absolutely that people need to take much more responsibility for various aspects of their lives, but I think human adults are quite capable of doing so. Alas, mine is a minority view and most seem to want to have centralized government provide a lot of different services for us, rather than leaving us to figure it out by ourselves like we do for other things.

There are some things that is best done by government, but it’s far fewer than the current status quo.

This is the opposite of free market actors taking reward and responsibility for the risks

That’s right, and I’d have it all stopped!

The people doing that stuff are not my free market capitalists, as you are pointing out.

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Posted in: Nikkei ends at fresh 30-year high as heavyweights gain, yen weakens See in context

This is not capitalism.... at least it is not the free market, free enterprise capitalism that I so dearly crave, and that has pulled billions of people up out of poverty in relatively recent history, and enabled more human progress than any other system ever tried.

The "Shock doctrine" that I do see going on, is all the stuff the new US administration is trying to push into their new "stimulus" package of another 1.9 trillion dollars (on top of the better part of a trillion that hasn't been spent yet, I hear). For example, suddenly the pandemic situation means it's time to double the US minimum wage?

Well yeah, it's shock doctrine time! The pandemic can be used to justify anything now.

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Posted in: Nikkei ends at fresh 30-year high as heavyweights gain, yen weakens See in context

Some analysts, however, warned the Nikkei has risen at such a quick pace that the index's level has become too high and is out of line with the Japanese economy, still affected by the coronavirus pandemic.

This could be said of overseas markets too I think, so it’s not just a Japan market phenomenon here.

All sorts of stuff is going up these days, “thanks” to the actions of the beloved central planners, it seems.

There is certain to be a big nasty bump in future, and these short term thinkers noted in the article will get hosed when they are too slow to bail out... better to invest for the long term, or not at all.

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Posted in: New Zealand-Australia row erupts over 'terrorist' dual national See in context

This is an interesting edge case for the systems to deal with.

She was born in New Zealand after all, so that counts for something, although I appreciate the point that more of her life was spent in Australia.

To be honest I think these passport thingys that government deals out to people are quite an anachronism.

Some folks just cant handle a woman in power.

This may be true for some people, but typically I think people are criticizing her policies, rather than her for her gender, and it’s bad taste to presume that people fall into that sad latter minority, rather than the former. Let’s assume best intentions please!

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Posted in: Nikkei ends above 30,000 mark for 1st time in over 30 years See in context

Buying shares in Japan has been cheap and easy for many years now

Let’s note that the same is true for buying foreign assets as well.

Indeed foreign stock markets are at all-time highs.

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Posted in: Nikkei ends above 30,000 mark for 1st time in over 30 years See in context

It’s about as out of date as the late 80’s asset bubble isn’t it, Peter. These days people have smartphones and it’s hard to see much utility of these big power guzzling electronic displays... looks cool kinda, I guess?

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Posted in: Nikkei ends above 30,000 mark for 1st time in over 30 years See in context

a climb analysts have attributed to massive monetary easing by central banks and hefty fiscal spending by governments around the world.

This is sure to be a Free Lunch right?

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