Author Topic: Effects of Abe Stepping Down as Japanese PM  (Read 927 times)

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Offline Irvinecommuter

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Effects of Abe Stepping Down as Japanese PM
« on: August 28, 2020, 08:04:58 AM »
Abe has been Japanese PM for 8 years, Japanese economy has stayed basically flat and its debt issues largely unsolved.  The population is still aging rapidly.  The can kicking has to stop at some point.

There is apparently no consensus for his successor.

LDP will probably pick someone like Abe...which may not be good for the Japanese economic future.

Offline nosuchreality

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Re: Effects of Abe Stepping Down as Japanese PM
« Reply #1 on: August 28, 2020, 08:16:21 AM »
The math is simple: pay as go system reitrees need to get by on what what can be taxed on an average individual man and woman or your non-intern positions need  to pay enough to support 3-6 people.  Spouse, spouse, kid, kid, grand parent, grand parent.

Or the system can be front loaded where you pay in and create an asset pile.

Offline Irvinecommuter

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Re: Effects of Abe Stepping Down as Japanese PM
« Reply #2 on: August 28, 2020, 08:29:12 AM »
The math is simple: pay as go system reitrees need to get by on what what can be taxed on an average individual man and woman or your non-intern positions need  to pay enough to support 3-6 people.  Spouse, spouse, kid, kid, grand parent, grand parent.

Or the system can be front loaded where you pay in and create an asset pile.

Problem is that corporations took advantage of the system and got rid of their pensions and retirement programs. 

For example, Social Security was never meant to be the sole source of retirement benefits...it was suppose to be a safety net...not Atlas.  Corporations figured this out in the late 1970s and then dumped all of their pensions.  Then, Wall Street encouraged government and individuals to put their money into the market, which made everyone tied to DJ/Wall Street.

Japan had a good system up until the 1990s when all the corporations dumped their pensions cuz they were dying.  The country then went into debt to save those companies (zaibatsus were too big too fail) and it has never recovered. 

Add to that Japanese xenophobia and misogyny...you have a rapidly aging population and a workforce that is not motivated. 
« Last Edit: August 28, 2020, 08:36:47 AM by Irvinecommuter »

Offline eyephone

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Re: Effects of Abe Stepping Down as Japanese PM
« Reply #3 on: August 28, 2020, 08:30:36 AM »
I hear some people say that it is long over due.

Offline nosuchreality

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Re: Effects of Abe Stepping Down as Japanese PM
« Reply #4 on: August 28, 2020, 09:17:56 AM »
Yes, a pension is just your job today paying for the grandparent you may be in 20-30 years.

That money can be given to you to manage, entrusted to the company to manage (where's Michael?), Or entrusted to the Government through a public trust.

Choose whichever option you want,the job still needs to pay you to support living today, along with your share of the family and enough to pay your parents (your future self).

Providing 60% of you current salary inflation adjusted 30 years from now takes a substantial investment over the intervening 30 years.  Most people simply do not grasp how much value is in a 2%, 2.5% or 3% retirement plan.

Offline momopi

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Re: Effects of Abe Stepping Down as Japanese PM
« Reply #5 on: August 28, 2020, 09:50:18 AM »
If Aso Taro gets elected, whoever tasked with damage control for his speeches will probably quit or commit suicide.

Offline nosuchreality

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Re: Effects of Abe Stepping Down as Japanese PM
« Reply #6 on: August 28, 2020, 09:54:16 AM »
So that's where Conway is going.

 

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