0001Tiger of the Capital Region ★Jul. 12, 2024 (Fri) 20:20:06.06ID:b7pu/KVn9
According to the Bank of Japan’s June “Lifestyle Opinion Survey” released on the 12th, the percentage of people who answered that prices have “risen considerably” or “risen slightly” compared to a year ago totaled 95.0%, up from 94.4% in the previous survey in March.
Amid the rapid depreciation of the yen and the continued rise in prices of daily necessities, this is the eighth consecutive time that the percentage has exceeded 90%.
Full text at source Last updated: 7/12 (Fri) 18:52
>>1 Prices are high in Japan now because the US and Europe have been providing too many subsidies for the COVID-19 pandemic, leading to abnormal inflation that is now spreading to Japan. Since the cause is factors outside of Japan, Japan alone cannot stop the inflation. Prices in Japan, a major importing country, are dragged down by import prices, and prices will eventually converge to a single point (although prices will settle at the same level as in Europe and the US), but the only way to get there is to approach it from above or below. Japan has been in deflation, and price increases have been suppressed compared to Europe and the US, but the total rate of price increase has not reached that of Europe and the US. And the yen is now weak because the US has raised interest rates to eliminate its own inflation, and the dollar is being bought in response to the high interest rates. If inflation in the US subsides, the US will also start to lower interest rates, and the weak yen will be resolved. If deflationary Japan raises interest rates, it will only be hit with a double whammy of a recession caused by slowing consumption and rising prices.
Summary According to a survey released by the Bank of Japan, most people (95%) feel that prices have risen since a year ago. In particular, the value of the yen has fallen, so the prices of things we need in life are rising rapidly. The rate of price increase has risen from 14.2% in the previous survey to 15.7%, and 87.5% of people expect prices to rise further one year from now. In addition, when asked about their current financial comfort, it was found that an increasing number of people feel that they are no longer able to afford it.
Under this hellish LDP-Komeito government, incomes are falling and the only things that are rising are taxes and prices. I’m sure you’re nostalgic for the days of the Democratic Party government, when taxes and prices were low, people had a comfortable life, and could enjoy traveling abroad.
>>23 >A weak yen is a mistake >We need to strengthen the fiscal situation and raise interest rates to make the yen stronger ↑This guy is a spy. If you hate the weak yen so much, expanding the fiscal situation will make the yen stronger. Raising interest rates, tightening the economy, or raising taxes will only kill the economy.
It’s amazing how food prices have gotten more expensive, the quantity has decreased, and the taste has gotten worse. It’s amazing how the happiness level of Japanese people is steadily declining.
>>26 Thanks to the LDP, we’re in an unprecedented economic boom! Their fellow Keidanren companies are raising wages, and small and medium-sized businesses and self-employed people who can’t even raise wages are not considered Japanese citizens, so they should just eat weeds.
95% are middle class or lower class, 5% are wealthy, but it’s expensive. When I go shopping at the supermarket, things that used to cost less than 1,000 yen are now easily over 2,000 or 3,000 yen, so I can see that almost everything has gone up in price.
The base price of gasoline is stuck at 170 yen, so of course the prices of everything have to go up. And even that price includes subsidies, so we’re in trouble.
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