Japan agrees record 92.4 trillion yen draft budget.

[kuainiri]

[Screwed-down Hairdo]

Sounds like my budget for draft, too....Especially tonight....I got dumped after the Kentucky Fried Chicken and Mass. Didn't even get to go to the LH....

[kuainiri]

I got m Turkey at Costco, and wine... lots of wine

[Iraira]

Made Mexican food (chicken was used so it's still technically a Japanese Xmas eve), went into a 10-hour food coma around 10pm.

[wuchan]

I grew up in the city. We got a bucket of chicken and a ton of chimay.

[Coligny]

Went's'a Bikkury Donkey... Yay...




:~(

(...)

[Ketou]

Looks like the race to beat the Euro and the US dollar to the bottom is being put into high gear.
Love how in this article they use "grapple with" for deflation. As if it is actually a bad thing for the savings of the common people to increase in value....

[FG Lurker]

Looks like the race to beat the Euro and the US dollar to the bottom is being put into high gear.
Love how in this article they use "grapple with" for deflation. As if it is actually a bad thing for the savings of the common people to increase in value....

The "common people" get fucked either way so it is a case of looking for the lesser of the evils.

Most Japanese families strive to buy a house (or apt) which means a mortgage for the vast majority. Deflation fucks them over badly by making their debt more expensive. It also means that their mortgage ends up under water so they can't sell their house. This means no mobility and financial disaster if mobility is absolutely required.

Further, Japan has deflation but it also has zero interest rates on savings accounts. The "common people's" buying power gets increased by deflation but they aren't getting any interest on their savings.

Mild inflation with reasonable interest rates is probably the best scenario for the "common people". It encourages saving, increases the buying power of those savings, but doesn't fuck people over by increasing the cost of their debt.

The best thing to do though is to make sure you're not one of the "common people."

[Taka-Okami]

The "common people" get fucked either way so it is a case of looking for the lesser of the evils.

The poor have always been fucked over by the rich, always have, always will. I can't remember where I read this (maybe here) but I think it applies:

Gold is the money of the rich
Barter is the money of Peasants
Debt is the money of slaves

I'm working on my gold stash