The curse of primary balance has been lost for 30 years, and now is the time for fiscal spending.
2021-12-30
Category:Japan
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The lost 30 years were born from the curse of fiscal surplus
The curse of a primary balance surplus has become an excellent material for opposition parties to appeal to the government for fiscal austerity. Yoichi Takahashi has said that he does not mind fiscal stimulus, or printing money, up to the inflation target of 2%.
Both Prime Minister Abe and Policy Research Council Chairman Takaichi have set an inflation target of 2%. In the first place, the topic of primary balance became popular after the bubble burst.
Why not use fiscal stimulus to address the national crisis?
As many large companies go bankrupt, the government repeatedly imposes fiscal stimulus, resulting in deficits and financial bankruptcy. The bursting of the bubble was a national economic crisis.
So when is the government going to do something about the national crisis without spending money? In 1989, 32 of the 50 companies in the world by market capitalization were Japanese companies, but by 2019, there was only one Japanese company, and that number had disappeared. Ta.
Japan used to be the same as today's China
During the bubble period, Japan was to America what China is today. It is true that growth was not based on illegal business like in China, but there is no doubt that it was a threat to the American economy.
The United States should have predicted Japan's bubble would burst. Or maybe it's a country that can play a role in triggering this.
Why did Japan go for austerity?
If Japan had been able to implement bold fiscal stimulus after the bubble burst, it would have been possible to quickly overcome the aftereffects and return to a growth trajectory. Japan is among 11 countries subject to currency manipulation monitoring announced by the U.S. Treasury Department on December 3 of this year.
MEMO Trade friction is at the root of the current U.S.-China relationship. In addition, the defense of East Asia was also involved, and Japan at the time was also experiencing trade friction between Japan and the United States.
30 years of innovation, only to be robbed
Even after the bursting of the bubble economy, Japanese companies have continued to innovate in a variety of ways. i-mode was the world's first mobile phone to connect to the Internet, the all-in-one concept of integrating a camera, calculator, memo pad, etc. in a bag into a mobile phone, and mixi was the original social network.
These ideas became the exclusive domain of American GAFA. Even though Japan was in the bud of creating a new industrial structure, it ran out of water and nutrients.
Only Councilor Sanae Takaichi was able to clearly answer these questions
So why or who put a stop to it?
Internal pressure, external pressure, various things can be imagined. Japan's balance sheet shows that its finances are sound, and fiscal stimulus will not cause a national fiscal collapse. This is exactly what was at issue in the last presidential election. There are two points: fiscal spending and national defense.
Councilor Takaichi was the only one who clearly answered that question, and I had no idea what the other candidates were saying.
POINT Japanese economy continues to fly low. We need a rocket engine to get back on the growth track.
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[related article]
Japan was attacked by a coalition of Chinese and Korean forces.Japanese troops were sent to defeat China.
Genkou refers to the invasion of Japan by the Chinese Yuan and the Goryeo army.There are also theories that Khabirai Khan intended to invade Japan, and that King Goryeo incited Khabirai to attack Japan.The two expeditions ended in failure when a Chinese ship sank due to a storm called kamikaze.
After that, Japan entered the Warring States Period and entered a turbulent period.Oda Nobunaga, a genius, was not only good at fighting but also sensitive to the international situation.Literature at that time revealed that urgent Japan's unification was carried out because it predicted that there would definitely be another invasion from the continent.He then told Toyotomi Hideyoshi about it.The enemy will surely come from the continent.
The purpose of Hideyoshi's dispatch to Korea was Ming, China.South Korea is said to have been attacked by Japan, but North Korea is not the purpose.As a result, the Ming army's counterattack on the Liaodong Peninsula led to a stalemate in the war situation, skepticism about the merits of Japan's rule of vast land with different cultural customs, and the death of Toyotomi Hideyoshi.
If Japan had captured Ming at this time, the Japanese era would have been born in the era of different ethnic countries such as Sui, Tang, Yuan and Qing.Relations with Japan, the Korean Peninsula, and China have become clear in this era.It will come to light again in the next Sino-Japanese War.The Korean Peninsula exists between Japan and China and has not been an autonomous country in history.
Historically, Korea has been part of China.Although it exists as a liberal country, its dependence on China remains the same.
Whether the debate on the ability to attack enemy bases is a matter of propriety, possession is an issue, or start is an issue - possession is an issue.
What is the point of the ability to attack enemy bases
1956 Ichiro Hatoyama
1999 Yoshinari Norota
2003 Shigeru Ishiba
1969 Cabinet decision
The debate over the ability to attack enemy bases has led to confusion in public opinion regarding whether it is permissible to attack enemy bases, whether it is permissible to possess such weapons, and what stage refers to the initiation of an enemy attack. appear. Looking at the government's views so far, it has consistently been stated that the ability to attack enemy bases falls within the scope of defense, and the government has also made clear its views on launching such attacks. The question is whether or not to actually own it.
Issues regarding the ability to attack enemy bases
[Possibility] Is it okay to attack enemy bases (enemy territory)?
[Initiation] What is the initiation of an attack by an enemy country (activation conditions)?
[Holding] When and what to hold
Regarding the ability to attack enemy bases, Prime Minister Ichiro Hatoyama already answered in 1956 that in the event of a missile attack, ``It is inconceivable that the purpose of the Constitution is to sit back and wait for self-destruction.'' Since then, the Japanese government has continued to interpret it as constitutionally permissible.
1956 Ichiro Hatoyama
The purpose of the Constitution is that if an imminent illegal violation is committed against our country, and if a guided missile or other attack is carried out on our land as a means of such violation, we should sit back and wait for our own destruction. I don't think I can think of it that way. In such cases, take the minimum necessary measures to prevent such attacks, for example, as long as it is recognized that there is no other way to defend against attacks by guided missiles, etc. I believe that hitting bases with guided missiles is legally within the scope of self-defense and should be possible.
In 1999, Defense Agency Director General Norota responded that the Self-Defense Forces would use the necessary force if there was a threat of an armed attack.
1999 Yoshinari Norota
In situations that do not result in an armed attack against our country, police agencies are primarily responsible for dealing with the situation, but in cases where the general police force cannot respond, the Self-Defense Forces respond by dispatching public order, and are not responsible for suppressing the situation. It's possible. Then, if a certain situation corresponds to an armed attack against our country or the possibility of such attack, a defense operation is ordered, and the Self-Defense Forces will use the necessary force to defend our country. That's why .
In 2003, regarding the launch of an attack on Japan, Director-General of the Defense Agency Ishiba announced that he would turn Tokyo into a sea of fire, and stated that if Japan began injecting fuel, this would be considered the start.
2003 Shigeru Ishiba
Now, I have a question from the committee members: There has been a statement that Tokyo will be reduced to a sea of fire, that it will be reduced to ashes, and for that purpose, in order to accomplish that, in order to make it come true. If they started injecting fuel or did something like that, then their intentions would be clear. This is a case where someone says, "I'm going to shoot this thing and reduce Tokyo to ashes," and then they just start pumping fuel, or they start making preparations, and they start taking action. Well, if you do that, wouldn't that be called a start?. That's true, because the intention is clear and that's what it is. Therefore, what I am saying is no different from what the Minister of Foreign Affairs is saying.
On February 16, 2022, Defense Minister Nobuo Kishi spoke at a subcommittee of the House of Representatives Budget Committee regarding the "capability to attack enemy bases" that the government is considering possessing. , stated that they would not rule out the option of bombing military bases, and acknowledged that it falls within the scope of self-defense.
As stated above, the government has already stated that the ability to attack enemy bases is within the scope of the right of self-defense. Regarding the next issue, ``retention'', there was a Cabinet decision in 1969.
1969 Cabinet decision
Possessing so-called offensive weapons, whose performance is exclusively used for catastrophic destruction of the enemy country's homeland, immediately goes beyond the minimum necessary range for self-defense. Therefore, it is not allowed under any circumstances. For example, the possession of intercontinental ballistic missiles (ICBMs), long-range strategic bombers, and attack aircraft carriers is not allowed.
This is the current argument for ``possession'' of the ability to attack enemy bases. In other words, the debate is whether it is a minimal weapon for self-defense or whether it exceeds it.
Since the current government opinion has interpreted it as falling within the scope of the right of self-defense, it does not fall under "offensive weapons used only for catastrophic destruction" and can be interpreted as something that can be possessed. . Until now, the government's position has consistently been that possessing the ability to attack enemy bases is within the scope of the right of self-defense, but it has not actually possessed it and has kept it ambiguous. All that's happening now is an effort to actually own it. Possession of the ability to attack enemy bases has already been deemed constitutional, and the launch of an attack by the enemy has been defined, so it would be unreasonable to now say that we are opposed to actually having the ability to attack enemy bases. The premise of the argument seems to be different.
The cabinet decision defines weapons as those used only for the catastrophic destruction of the enemy's homeland, so it is clear that this does not apply to weapons used within the scope of the right of self-defense.
A summary of impressions of the numerous candidates competing in the 2024 Japanese LDP presidential election
As the LDP presidential election draws near, candidates are coming forward one after another. Ishiba Shigeru, Kobayashi Takayuki, Hayashi Yoshimasa, Takaichi Sanae, Kono Taro, Koizumi Shinjiro, Aoyama Shigeharu, Mogi Toshimitsu, and Kamikawa Yoko (in no particular order) are some of them. Among them, Ishiba, Kono, and Koizumi are the ones who are frequently mentioned in the media, so perhaps they are the ones who are getting the media votes. Ishiba has little conservative thinking, such as accepting a female emperor or promoting separate surnames for married couples, and has a strong liberal tendency, so much so that some have mocked him and asked him if he should transfer to the Constitutional Democratic Party.
The issue of imperial succession has already been narrowed down to two proposals by a panel of experts: "a proposal for female members of the imperial family to remain in the imperial family after marriage" and "a proposal for adopting a male member of the former imperial family as a son in the male line." A report has been sent to the Diet. Since Prince Hisahito was born, there has been no consideration of a female or female-line emperor, and they are moving towards the idea of ??adopting a male in the male line. In response to this, the Speakers of the House of Representatives and the House of Councillors, as well as the leaders of each party, have gathered to hold discussions since May 17th, but even LDP members have ridiculed Ishiba's comments as being table-top-turning.
As for the separate surnames for married couples, one of the issues that was initially pointed out was that it would be difficult to change back to the maiden name in administrative agencies, financial institutions, and other procedures upon divorce, but the law has been revised to allow the use of maiden names without making any major changes to the family registry system, so I wonder if the discussion is a bit outdated, or if the comments are just for the media.
As for Takayuki Kobayashi, he is a conservative who supported Sanae Takaichi last time, but his way of thinking is almost the same as the late Abe and Takaichi, and as a result, I get the impression that he has less impact. In that case, Takaichi will likely be chosen, but as a young candidate, she may be a good candidate to reduce Koizumi's party member votes.
As for Kono Taro, he scrapped the Aegis Ashore deployment plan when he was defense minister, and in the last presidential election, he expressed opposition to the possession of enemy base attack capabilities, and as a result, he presented himself as a pro-China politician without even thinking about it, and I remember him suffering from severe burns all over his body, but he seems to be running, and it seems like his expiration date has already passed, and voters are getting tired of him.
I can't think of any notable achievements for Koizumi Shinjiro, and perhaps his popularity is due to his father's use of words that are conscious of the message he uses, but in any case, he seems unable to break away from his base of anti-nuclear power and clean energy. He is recommended by Suga, but I can't help but wonder if there are energy interests in Kanagawa Prefecture.
Mr. Motegi seems to have a clear mind, which is a good point, but he has mentioned local voting rights for foreigners several times, and I get the impression that he has a strong left-leaning tendency. Looking at Europe, many countries do not allow non-EU nationals to vote in local elections, and there are also cases where only certain non-EU nationals are allowed. Only Northern Europe grants voting rights to non-EU nationals. If we think about it this way, what kind of foreigners are in Japan? As for the proposal to grant voting rights to Chinese and Koreans from anti-Japanese countries, I have serious doubts about the logic that Europe is the model for.
As for Mr. Aoyama Shigeharu, I agree with his historical awareness, etc., and I would like to support him as a patriot, but the fact that he is a member of the House of Councillors is a problem. There is no precedent for a member of the House of Councillors to become prime minister and party president, and there is an inevitable contradiction in whether a member of the House of Councillors has the right to dissolve the Diet. There is no dissolution of the House of Councillors, and dissolving the House of Representatives means resignation, which means that all members are dismissed and lose their seats, but the Prime Minister remains a member of the Diet. He says he will "ask the people for their trust," but he will not be asked to run for the House of Representatives, so I hope he will switch sides and run for the House of Representatives.
I can't think of anything about Yoshimasa Hayashi or Yoko Kamikawa. I've heard that Hayashi is a pro-China member of parliament, and I have the impression that Kamikawa is a foreign minister who won't budge no matter what China does or says to him. It could be said that Kishida's side is putting up a female candidate as a rival to cut Takaichi's votes.
Takaichi has inherited the policies of the late Abe, and has further developed them. She will not talk about old-fashioned things like denuclearization, but will instead propose pioneering policies such as investment in fusion reactors and industrialization. It is also necessary to increase the inflation target to 2%. Currently, the yen is weaker due to the interest rate differential, but this is not due to the bill increase, it is simply the value of the yen falling. As a result, the inflation rate will be achieved and export competitiveness will increase, but unless the total amount of bills increases, it will be difficult for the face value of wages to increase. The Federal Reserve has already announced at the beginning of the year that it will lower interest rates at the end of the year, and if Trump becomes president, it is unclear whether the current situation will continue. If the interest rate differential decreases and the yen tends to appreciate, I would like to see the original inflation rate of 2% achieved by the bill increase. Regarding security, Takaichi clearly advocates investment in the military industry, and has a vision of imagining and nurturing new industries. She has the most concrete and strategic ideas.
Does Japan procure labor from anti - Japanese countries? - Are you not considering the issues of immigration policy?
It is said that Europe and the United States are reconsidering their immigration policies due to failures, but the United States views immigration from South America as a problem with guns and drugs, not immigration from Canada or Europe. When considered as a white group, they tend to have a lower birthrate, and it is predicted that white people will become a minority in the United States by 2060.
If Europe is facing social unrest due to immigration from Muslim countries, it is certain that this will happen if it accepts immigrants from countries that can be described as hostile religions. In Europe, the periphery means Islamic countries or Africa due to location. However, travel and work within the EU are basically free, so EU countries accept foreigners. The reality is that the West is trying to prevent immigration from dangerous countries.
What is fatal for Japan is that historically it has not been blessed with neighboring countries. If Japan had the issue of which country to procure labor from based on this kind of thinking, then it would be a crazy idea to bring labor from a country that routinely provides anti-Japanese education to its citizens. There are members of parliament.
In Asia, at least in terms of cultural background and religion, there are countries that believe in Buddhism, countries that have an affinity with the Japanese imperial family as a kingdom, have a good level of education, are pro-Japanese countries, and have a strong acceptance of Japan. It would be desirable if there could be collaboration that would allow Japan to be involved with educational institutions in partner countries.
In any case, Japan's efforts to combat the declining birthrate will be over once the second baby boom generation fails to have children. Even if the competitiveness of Japanese companies increases due to the weak yen, they will not be able to bring their production bases back to Japan, and on the other hand, if they continue to flow to other countries, their GDP and tax revenues will simply become income for other countries.
Is the party ticket issue the result of a sound whistleblower? In Japan, a spy paradise, you can do whatever you want.
The public prosecutor's office is said to be looking into the party ticket issue, but the main concern is the source of the leak. The original story is an article in the Japan Communist Party's Red Flag Newspaper dated November 6, 2022, but it feels strange that a specific group is being hit in a domino pattern like this. We have seen a pattern in the past in which scandals are discovered one after another within the administration, resulting in a decline in approval ratings. I always wonder who is leaking this.
Japan is said to be a spy paradise, but how many spies are there in Nagatacho? I have no idea how many people are from which country or from which country. Since GHQ was involved in the central government of Japan under trusteeship, some people say that by extension it has a thorough understanding of the system, and that the CIA and others continue to infiltrate and collect information. This is not to say that whenever problems occur in Japan, it is the work of spies, but rather that they could easily do it if they wanted to.
If another country is in charge of a scandal involving a Japanese politician, and it becomes inconvenient, should we leak it?
In China, I sometimes hear people say that Xi Jinping is a smart leader because he advocates eradicating corruption, but this is ridiculous. It can be said that the anti-corruption movement is what created Xi Jinping's dictatorship. Xi Jinping has monopolized real power by eliminating political opponents one after another on the grounds of corruption. In addition, no one can say anything because they have the public security thoroughly investigate corruption by all Communist Party members, have evidence gathered, and arrest any strange behavior. Corruption-free cases in China are rare, so it's like almost everyone is threatened.
From the perspective of these countries, it seems easy to infiltrate Japanese politicians' personal secretaries, public secretaries, accountants, etc. with intelligence agents. Is Japan already so suppressed in various areas that it cannot even enact an anti-espionage law? At the very least, there is no doubt that corruption is a no-no, but if espionage from other countries is allowed to do whatever it wants, it would be as if Japanese members of Congress were also held hostage.
It is necessary to solve the problem of political funding fraud, but if information management is sloppy, there will be no problem.