fxgai comments

Posted in: 1.4 bil but no more? China's population growth closer to zero See in context

"If the population gets too old, it will be impossible to solve the problem through immigration," said Lu.

I can’t personally imagine wanting to immigrate to CCP China either to be honest, though no doubt some might want to. Japan is a better option.

3 ( +3 / -0 )

Posted in: Japan gov't debt rises by record ¥101 tril in FY2020 See in context

Demographics are going to make getting a handle on government spending and increasing tax revenue very hard.

Ah but - is the money spent by government in Japan today spent as efficiently as it is in say your home country?

Japan has lots of room to reform spending to improve efficiency.

1 ( +2 / -1 )

Posted in: Cryptocurrency ethereum hits new record high again; dogecoin slumps See in context

Dogecoin, which began as a social media joke in 2013, is up more than 700% in the last month. 

No bubbles to see here.

0 ( +0 / -0 )

Posted in: Japan gov't debt rises by record ¥101 tril in FY2020 See in context

So what !? 9.70 million / capita roughly $88,000 is acceptable if it keeps the country afloat.

This debt is a weight on the country.

Even if we each had 10 million yen each to hand over to the government now, because they spend the money like gambling addicts at a casino, there’ll be another fresh 10 million each to be paid back in no time.

Correction, it’s not the debt that is the weight - it is the constant overspending through various unsustainable programs that is the weight. Japan needs to reform its spending programs immediately, to reduce the outlays and ensure greater value for money.

0 ( +1 / -1 )

Posted in: 4 Central Europe countries seek Japan's support for infrastructure plan See in context

Fine, but not sure what sort of ask this is for “support”.

Fron the useless Japanese government? Just work with Japanese businesses directly.

4 ( +6 / -2 )

Posted in: Zverev ousts Nadal in Madrid See in context

Wow. Nice!

-1 ( +0 / -1 )

Posted in: Biden says he plans to back WTO IP waiver for COVID-19 vaccines See in context

come under intensifying pressure to share U.S. vaccine supply and technology to fight the virus around the globe.

The U.S. has been sharing its technology through normal channels, the problem with vaccine supply has nothing to do with IP.

Total cave by Biden here, poor move... why bother to develop a vaccine under Biden if he’s just gonna declare it be shared for free?

The profit incentive is why we have vaccines developed at all.

1 ( +2 / -1 )

Posted in: Pfizer/BioNTech jab confirmed to protect 95% in largest study yet See in context

Thank goodness (profit incentives) for humanity having these vaccines at all.

The prior US President had terrible messaging on coronavirus, but at least his administration did a fantastic job in expediting conditions for vaccines to become available as quickly as they did.

Now there are problems getting vaccines into people, in some countries, but it’s not for lack of vaccine availability, but rather other supply and logistical issues.

1 ( +1 / -0 )

Posted in: More young Japanese look to Marx as pandemic, climate crisis magnify economic inequalities See in context

Singapore keeps costs down by making people pay a lot up front to actually access health care services,

It’s a savings based approach, rather than a pay-as-you-go taxation based one.

thus actively discouraging them from seeking medical care in the first place.

No it just says that each person has to save up funds in a personal account instead of paying taxes.

Because people are then spending their own money they make better spending decisions.

The government still remains as a backstop for those unable to save for themselves.

That sounds like a great way to keep costs down but I'm not sold on a system that deliberately makes access to health care difficult and expensive

It’s not difficult, and it’s not expensive - it’s cheaper than paying higher amounts in tax for the same outcomes.

The difference is that people pay for what they think they require, rather than taking as much as they can get because it is “free”. They have an incentive to do so.

Its like a classic tragedy of the commons in systems like that in Japan. There is no incentive to refrain from overconsumption when it is “free”.

being the best model for a country full of old people on small fixed incomes to copy.

Reforming the existing systems to an individual savings based approach from the current taxation based approach will not be done overnight, and should of course be done in a way that ensures people are adequately provided for.

In any case, a system that is unsustainable over time is definitely not the best model.

1 ( +1 / -0 )

Posted in: More young Japanese look to Marx as pandemic, climate crisis magnify economic inequalities See in context

You could say that about almost any country though (granted, Singapore, Turkey and a few other outliers excluded).

That’s right!

Japan has debt approaching 300% of GDP, so it needs to look to reform its spending programs or its most vulnerable people are the ones who are going to suffer.

Singapore’s model offers real world experience with a system that manages to keep costs low.

-2 ( +2 / -4 )

Posted in: Ishikawa town builds giant squid with COVID relief funds See in context

Why, so we can watch free enterprise waste money hand over fist on stupid stuff instead of local governments?

In free enterprise, people spend their own money as they see fit, and whether you think someone else is spending their own money in a bad way is irrelevant - it isn’t your money so why would you care. Let others love their lives as they please, and expect the same in return.

Cuz if you think free enterprise in small town Japan is incapable of building stupid eyesores then you've obviously never been to any small town in Japan.

I am not sure you understand what free enterprise means.

-2 ( +0 / -2 )

Posted in: More young Japanese look to Marx as pandemic, climate crisis magnify economic inequalities See in context

A) The OECD average (basically the average of developed countries) is over 12%, so Japan's health care costs are actually lower, not higher, than average among comparable countries.

I wonder where you get your info from. Out of the horses mouth:

https://www.oecd.org/els/health-systems/health-data.htm

“In 2019, before the onset of the coronavirus pandemic, average health spending as a share of GDP across the OECD was around 8.8%. This figure has remained largely stable since 2009 as growth in health spending remained in line with overall economic growth since the last economic crisis.”

B) The UK spends 10%, not 8%,

you ought fact check that one too if minutia matter to you, but comparing the UK and Japan is comparing the same thing pretty much.

Indeed Singapore shows what can be done with 4% of GDP, making Japan (and the UK and the US) all high.

That Singapore is a financial hub is no matter given that the comparison is as a share of GDP not absolute terms.

C) At any rate, both the UK and Singapore have socialized health care systems like Japan's.

Singapore’s system has some very distinguishing features that evidently help to keep a lid on costs without hurting health outcomes relative to other places.

You’d think such standout performance warrants asking the question of what those differences are.

D) The United States is the only major

Who cares about the US. It doesn’t absolve Japan’s system of the fact that it is too costly.

There are a lot of reasons why Japan's government is in debt, but the way it runs its health care system is not among them.

Looking at annual expenditures says otherwise. It’s a huge contributor.

-4 ( +1 / -5 )

Posted in: Action star Steven Seagal gives samurai sword to Venezuela's Maduro See in context

That hair hat he is wearing looks stupid but Under Seige is one of my favourite action movies.

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Posted in: Working from home 'doesn't work for those who want to hustle' - JPMorgan CEO See in context

Seems like old fashioned thinking to me but let’s see their results I guess

3 ( +3 / -0 )

Posted in: Nadal cruises past Spanish teenage sensation See in context

Ah well Kei..

-2 ( +0 / -2 )

Posted in: Ishikawa town builds giant squid with COVID relief funds See in context

Again, central government is the cause of the problem and not the solution.

Who would feel inclined to pay higher taxes when faced with this?

We need a smaller government, free enterprise and people who earn the money deciding how to use the money. Lest further will be wasted in such ways.

-3 ( +1 / -4 )

Posted in: More young Japanese look to Marx as pandemic, climate crisis magnify economic inequalities See in context

what we have today in the world is not even capitalism

This. In a free enterprise variety of capitalism it would be possible to read the news at RikiWeb without most articles in some way relating to government interference in the economy. As it happens government is the source of many problems, rather than the solution to them.

-2 ( +5 / -7 )

Posted in: More young Japanese look to Marx as pandemic, climate crisis magnify economic inequalities See in context

Japan does not have the same stigma concerning labeling things like low cost medical care "socialism".

Japan has high cost medical care, it ought be pointed out. That the cost is hidden doesn’t mean that it is low cost.

Japan spends around 10-11% of GDP on health care, whereas Singapore spends around 4%, and 8% in the UK.

Thanks in no small part to this “low cost” system Japan approaches 300% debt to GDP in coming years, unless the music stops playing first, or much needed reforms are enacted.

-8 ( +1 / -9 )

Posted in: Halep knocked out of Madrid Open; Thiem cruises through See in context

Oh, a nice win for Kei over Khachanov, always good to see him picking off such wins.

-1 ( +0 / -1 )

Posted in: Over half say Japan needs to amend Constitution for virus response See in context

give more power to the cabinet and limit private rights

The government has consistently shown that it fails to live up to people’s expectations; yet people believe that limiting their own rights will HELP?

Rather it’ll just create a situation similar to overseas where people flaunt the rules more.

3 ( +3 / -0 )

Posted in: Gov't advisers warn Japan's birth rate falling at more rapid pace this year See in context

I am really disgusted with how little financial support there are for college students here as well.

Everyone wants somebody else to pay for stuff for their benefit, so what’s new?

Japan is well over its head in debts already, and here is a complaint that kids who go get good higher education for a better paying job need others to pay for it!?

So the kids that quit school and go into construction work at 18 years start to pay income tax, and support these kids who go to university to party up for 4 years and then get a better, easier job than a construction worker too?

This sort of policy makes things worse for the lower educated people, they are the ones who are more likely to be in need of financial support than those smart and fortunate enough to be able to go to university.

But this is precisely the sort of backwards policy that sounds good but actually makes things worse not better. Is it any wonder there is all this inequality in the world? The rich have the poor pay for them in the name of their virtuous decisions such as wanting to get a higher education, when it is they themselves who will be the primary beneficiary!

-1 ( +0 / -1 )

Posted in: Gov't advisers warn Japan's birth rate falling at more rapid pace this year See in context

rainyday, you mentioned Japan has free markets.

This is absolutely not the case, and you raised a perfect case in point - it is not free markets that created the two-tier labour market arrangements in Japan - it is government that created this law. It is government that could reform the labour market law or just simply abolish it and make labour agreements entirely up to would be employers and employees.

Japan is a place where the government thinks it must create a “scheme” or system in order for anything to be legal.

This is in no way a system of free enterprise.

I cannot think of a single industry in Japan which does not have some kind of anti-free enterprise government regulation acting as a barrier to entry.

The only time we do see free enterprise is when the disrupters come in and move before the government has had a chance to start to regulate them.

There is too much centralization of power in Tokyo. That is what attracts the likes of the recent political bribes/influence scandal to occur - it occurs because it is in someone’s interest to seek to have the government make changes that will benefit them, and the more power is centralized, the more it is worth to seek to influence that power.

A decentralization of power in Japan would do wonders, I believe. Not likely to happen why people keep blaming others instead of getting to the root of the problem.

Just read RikiWeb and see how much of the news each day involves government. It’s everywhere.

-1 ( +0 / -1 )

Posted in: New Zealanders face mental health, economic challenges in pandemic recovery See in context

NZ has been getting kudos and relatively speaking has done very well - to date.

But NZ like Japan is nowhere with vaccinations. As other countries open up thanks to their vaccination efforts, unless NZ can catch up they won’t be able to open their borders to tourists and the like, keeping them isolated.

And they have a strict elimination policy in place - so how many of the population would need to be vaccinated before the borders can even be opened?

I am guessing they will have a new Prime Minister by the time the game is fully played out.

-3 ( +0 / -3 )

Posted in: Japan's business leaders suggest ways for gov't to speed up vaccination rate See in context

Ironically, it's because nearly all the medical institutions are "businesses" (private sector) that the govt is struggling to move ahead in a coordinated, cooperative fashion.

Wtf.

The government totally runs this thing, you can’t seriously blame the private sector for the inept handling by central government.

Indeed such an important issue should not be left to central planning which virtually always fails miserably.

"The government and local administrations must not be constrained by outdated thinking and must make effective use of private sector expertise," they said in a statement.

I’d take my chances with the private sector - which either delivers or loses customers - than government and local administrations, whom get paid with my taxes no matter the quality of service they provide me.

0 ( +0 / -0 )

Posted in: Gov't advisers warn Japan's birth rate falling at more rapid pace this year See in context

meager support from the government for parents hardly encourages us to have more.

Did Japan or anywhere become populous in the first place because of government support for families to have children? Are we looking in the right area for solutions?

1 ( +4 / -3 )

Posted in: Gov't advisers warn Japan's birth rate falling at more rapid pace this year See in context

High housing costs are a major disincentive to having children.

Home ownership in Japan is high though, compared to overseas. So I don’t think that is it.

3 ( +5 / -2 )

Posted in: Gov't advisers warn Japan's birth rate falling at more rapid pace this year See in context

People don't have children because they feel bad raising children in the crazy, insane, robotic, unsafe society.

I have children because my partner and I are financially secure and we learnt that kids make our lives richer.

Japan won’t get more financially secure people while it’s central government keeps spending money willy nilly. Smaller government with more free enterprise opportunity to maximize individual freedom and financial security would probably help solve this population issue in time I think.

3 ( +5 / -2 )

Posted in: Young widow arrested for killing Japanese 'Don Juan' in 2018 See in context

Nozaki came from a poor family and became a rich man on his own

A good self-made man.

2 ( +2 / -0 )

Posted in: China, Japan trade acrimonious barbs over Fukushima tweet See in context

The only thing left is raw greed and materialism. 

Well that’s just human nature. CCP has not turned China into simple free humans, it’s an authoritarian regime that suppresses humanity, not allows it to be free.

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Posted in: China, Japan trade acrimonious barbs over Fukushima tweet See in context

China unleashed coronavirus upon the world so meh - no doubt some Japanese right winger is capable of making an offensive retort tweet out of that. I look forward to seeing some creativity!

Japan’s response to call for the removal of a tweet is wrong however, although I agree that China can go to hell with their propaganda. But we are capable of seeing Chinese propaganda for what it is.

5 ( +13 / -8 )

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