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Japan plans 'nationalisation' of factories to save industry
The Telegraph ^ | 1-1-13 | Ambrose Evans–Pritchard

Posted on 01/02/2013 6:04:09 AM PST by dynachrome

Japan's government is to take the unprecedented step of buying factories and machinery directly with taxpayer funds, the latest in a series of radical steps to lift the country out of its deep slump.

Premier Shenzo Abe is to spend up to one trillion yen (£7.1bn) buying plant in the electronics, equipment, and carbon fibre industries to force the pace of investment, according to Nikkei news.

The disclosure came just a day after Mr Abe vowed to revive Japan's nuclear industry with a fresh generation of reactors, insisting that they would be "completely different" from the Fukishima Daiichi technology.

(Excerpt) Read more at telegraph.co.uk ...


TOPICS: Business/Economy; Foreign Affairs; Japan; News/Current Events
KEYWORDS: business; japan; nationalisation
Obozo is taking notes
1 posted on 01/02/2013 6:04:16 AM PST by dynachrome
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To: dynachrome

I’m sure this will end well. /s


2 posted on 01/02/2013 6:07:37 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: bruinbirdman

ping


3 posted on 01/02/2013 6:07:47 AM PST by dynachrome (Vertrou in God en die Mauser)
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To: dynachrome

At least the Japs have an electronics industry to save...


4 posted on 01/02/2013 6:09:08 AM PST by central_va ( I won't be reconstructed and I do not give a damn.)
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To: dynachrome
The disclosure came just a day after Mr Abe vowed to revive Japan's nuclear industry with a fresh generation of reactors, insisting that they would be "completely different" from the Fukishima Daiichi technology.

Ya, sure thing.

5 posted on 01/02/2013 6:10:13 AM PST by Wolfie
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To: dynachrome
The solution to the ills wrought by Socialism is always more Socialism.

This will not end well.

6 posted on 01/02/2013 6:12:35 AM PST by Bon mots (Abu Ghraib: 47 Times on the front page of the NY Times | Benghazi: 2 Times)
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To: dynachrome

They do remember that government control of everything never ends well, just that either they believe they can do it better, or bury that piece of historical fact.


7 posted on 01/02/2013 6:12:52 AM PST by wastedyears (My life mostly completely turned around in a few weeks. Now to leave NY...)
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To: dynachrome

All around the world, people are looking at ruined economies and massive amounts of government debt and coming to the conclusion: “Capitalism doesn’t work. We need more central planning.”

Of course, the reality is that it’s all a power-grab. They’ve ruined everything on purpose so that they can justify enslaving the peasants.We are going back to a pre-modern way of shaping society: the future will be composed of nobles and serfs.


8 posted on 01/02/2013 6:13:41 AM PST by ClearCase_guy (Nothing will change until after the war.)
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To: dynachrome

Great News! Now we don’t have to worry about “Industrial Fortress Japan” any more.


9 posted on 01/02/2013 6:15:01 AM PST by norwaypinesavage (Galileo: In science, the authority of a thousand is not worth the humble reasoning of one individual)
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To: Wolfie

Wish them better luck than they’re having at Vogtle.


10 posted on 01/02/2013 6:16:26 AM PST by Eric in the Ozarks (In the game of life, there are no betting limits)
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To: Bon mots

It worked soooo wellll in USSR.
So in Cuba, Venezuela, N Korea, just go there on learning trip.
Sheeeesh!!!!


11 posted on 01/02/2013 6:17:10 AM PST by Leo Carpathian (FReeeeepissed)
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To: dynachrome

“Premier Shenzo Abe is to spend up to one trillion yen...to force the pace of investment, according to Nikkei news.

Output shrank 0.9pc in the third quarter and industrial production has fallen 3.3pc over the past two months, made worse by a boycott of Japanese goods in China over the Diaoyu/Senkaku islands row. Exports to China fell 38pc in November.”

Now that the Japanese Central Gubment owns these plants...China will HAVE to buy Japanese products.

I guess Japan just showed China!


12 posted on 01/02/2013 6:25:38 AM PST by moovova
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To: Eric in the Ozarks

What’s going on at Vogtle that has you concerned?


13 posted on 01/02/2013 6:28:23 AM PST by kidd
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To: dynachrome
Buy the backbone of Japanese industry out from under the Japanese people, with their own money, and have government bureaucrats run it.
Lousy idea. Nothing good will come of this.

14 posted on 01/02/2013 6:31:03 AM PST by BitWielder1 (Corporate Profits are better than Government Waste)
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To: dynachrome

I guess its too late for the gov to back off and let free enterprise do its thing


15 posted on 01/02/2013 6:38:02 AM PST by WorkerbeeCitizen (reasonable gun control is hitting what you aim for)
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To: kidd
WSJ reported the new nuke being built by Southern Company (utility) with new modular construction is likely to be two to four years behind schedule.

The report says the construction team, run by Shaw Group at Lake Charles, LA., and Westinghouse have been found to have shoddy welding issues and multiple revisions in design, resulting in a series of lawsuits amongst the construction partners and the utility company owners, now running in the $900 million range.

16 posted on 01/02/2013 6:41:05 AM PST by Eric in the Ozarks (In the game of life, there are no betting limits)
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To: dynachrome

Those factories will be needed real soon. Just converted to produce goodies that kill other humans.

Its mans remedy or Gods. So get ready for ww3 because some of it will be fought here in the USA just like Oboma “said” when he played Abe Lincoln the murdering tyrant


17 posted on 01/02/2013 6:47:40 AM PST by winodog (Thank you Jesus for the calm in my life)
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To: dynachrome
The Japanese have no ethnic strife, no racial strife. They are 100% Japanese over there. A such they have a lot better chance of pulling this off in a fair and rational way with minimal kickbacks and corruption. If this keeps more industry and jobs at home then this is a great idea if it can be done relatively cheaply

Obviously the Nips believe in protecting home industry and don't buy into the myth of free trade that only stupid Americans and Europeans pledge allegiance to like it came from God

A good part of our current economic mess is due to not actively trying to keep industry in America. By throttling the EPA and giving incentives for industries to not go offshore to China etc  -----  If we still had these jobs there would be a lot fewer Obama voters and fewer moochers. People vote socialist when the capitalist economy lets them down. So all you free trade Freepers --- now you get Obama-Care and get to pay higher taxes to support these people because they flock to Obama style socialism and they vote for it

18 posted on 01/02/2013 6:49:18 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: Bon mots; driftdiver; wastedyears

Why do people go for this? I understand politicians doing this, it increases their power, but why would voters go along with this? If this worked, then government should run everything and the Soviet Union would still be here and would be the wealthiest country on earth. Unbelievable.


19 posted on 01/02/2013 6:51:21 AM PST by Pining_4_TX (All those who were appointed to eternal life believed. Acts 13:48)
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To: dennisw

It isn’t Free Trade that’s driving manufacturing jobs overseas.

Massive corporate taxation, limitless legal vulnerability, crushing environmental regulation and pro-Union arbitrary Government: these are why industry chooses to locate away from the USA.

The protectionism that you favor would be the final nail in the coffin. The last vestiges of American industry would be turned into feather-bedded welfare cases, and freeborn Americans would be forced to buy their stuff from the Government store.

Protectionism would also increase Government power. The Democrats would collect all of that lovely tariff money and spend it on union pension bailouts or some damn thing.

America has tied its own hands behind its back with a ludicrous knot of EPA regulations, crushing taxation and arbitrary Government (just ask Gibson’s guitars).

America needs to untie those knots - not wrap itself up in more of them in a fit of misplaced faux-patriotic anger.

At least the upcoming increase in domestic natural gas production in the US will greatly improve American competitiveness.


20 posted on 01/02/2013 7:11:02 AM PST by agere_contra ("An unjust law ceases to be a law: it becomes an act of violence". Thomas Aquinas)
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To: dynachrome

“Man, it’s a good thing we nationalized all those years ago, really helped us out of a jam” said nobody ever.


21 posted on 01/02/2013 7:38:51 AM PST by LifeComesFirst (http://rw-rebirth.blogspot.com/)
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To: Pining_4_TX

Did I miss out on the recent news from Japan, or was the government there just not replaced with a more right-centered version of what they had?

Perhaps this entire thread is wrong.

Perhaps Japan is simply looking out for Japan.

Like we should. Look out for America, rather than exporting all our jobs.


22 posted on 01/02/2013 7:43:13 AM PST by Cringing Negativism Network
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To: dennisw

Of course, Japan probably fears more than anything, the ChiComs coming in and swooping up the companies.


23 posted on 01/02/2013 7:49:03 AM PST by dfwgator
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To: Pining_4_TX

Because many people don’t care what happens 5 or 10 yrs from now. They only care what they get now.


24 posted on 01/02/2013 7:58:40 AM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: agere_contra

We have also largely Outsourced our energy production.

The wealth fracking is generating shows how important it is to bring industry home.

The country is short 10-15 million jobs. For people who can’t find work, who do you think they voted for?

Horrible policies have helped push companies overseas, but don’t underestimate greed either.


25 posted on 01/02/2013 7:59:36 AM PST by desertfreedom765
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To: agere_contra

It is always amusing that the biggest believers in free trade are in the AngloSphere nations. You can read up on American history. We were a protectionist nation (meaning TARIFFS!) until 1913. Early on we protected our infant industries against the lower prices of British goods. We kept your goods out!

An Obama regime can never be trusted on tariffs and protectionism. Maybe a future presidency could be. Japan is a mono-ethnic nation so has a better chance at protectionism. Meaning they have the intelligence to try and keep jobs at home. They look a lot smarter than UK and America.


26 posted on 01/02/2013 8:03:08 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: dynachrome
The Japanese currency has plunged in value in comparison to all currencies - even the tepid US Dollar. That is no doubt how the financial world sees this move.

Fascism never prospers. Never.

You would think we in this country would have learned, but we haven't. We are drinking increasing amounts of the same old snake oil. If we continue to gulp it, we will end in being fatally bitten with the same old viper's poison.

That ideological and social poison we are pumping into our veins - like heroin - is simply too alluring and addictive for politicians and the ObamaPhone voters to resist.

This will not end well.

27 posted on 01/02/2013 8:04:53 AM PST by Gritty (This election represents the last exit ramp before the death spiral - Mark Steyn)
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To: dfwgator
Of course, Japan probably fears more than anything, the ChiComs coming in and swooping up the companies.

Dittos for Taiwan and Australia which had the brains to keep the Chinese from buying up a major natural resources extraction company

28 posted on 01/02/2013 8:06:28 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: dynachrome

“Japan plans ‘nationalisation’ of factories to save industry”

fiscal cliff deal....U.S. Federal pensions and retirements (i.e. fiscal cliff deal) to save DUN “Dow Un-Industrial”


29 posted on 01/02/2013 8:28:30 AM PST by Varsity Flight (Extortion-Care is the Government Work-Camp: Arbeitsziehungslager)
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To: dennisw

The Northern states ‘protected’ the rest of the United States by forcing everyone in America to buy their goods.

The Southern states were not allowed to buy where they wished, but were instead forced to buy Northern exports and enrich Government and Government lobbyists.

This led to a civil war - a war which the forces of Big Government won.

If you want to rejoice in the victory of Big Government over the people of America then you chose an odd site to do it on.


30 posted on 01/02/2013 8:34:24 AM PST by agere_contra ("An unjust law ceases to be a law: it becomes an act of violence". Thomas Aquinas)
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To: Bon mots

Which is unfortunate, as Japan is really the only counter to China in the East.


31 posted on 01/02/2013 8:36:50 AM PST by 9YearLurker
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To: agere_contra

What increase in fossil fuel production? Who authorized it? Democrats want us all living in mud huts.


32 posted on 01/02/2013 8:52:56 AM PST by wastedyears (My life mostly completely turned around in a few weeks. Now to leave NY...)
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To: dennisw
Japan is a mono-ethnic nation so has a better chance at protectionism. Meaning they have the intelligence to try and keep jobs at home.

Japan has carried out aggressive protectionism for decades, seeing the economy not as an end in itself, but as an instrument or statement of national power. 'Business is War', and so forth.

Japanese government intervention has certainly 'kept jobs at home': but in so doing they have crushed their own economy and spent/re-hypothecated the money of their own people subjects.

2013 will be the year that the decades-long 'success story' of Japanese protectionism is finally revealed for what it is: a monumental act of socialist hubris that will wipe out the life-savings of everyone in Japan.

33 posted on 01/02/2013 8:52:56 AM PST by agere_contra ("An unjust law ceases to be a law: it becomes an act of violence". Thomas Aquinas)
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To: agere_contra

Keep dreaming. Japan is a great place to live, very low crime, public schools are still good and prosperous despite the propaganda you have heard. Some this propaganda is from the Japanese trying to poor mouth their economic situation so that others are not so envious. Japan would not be this way without protectionism. The Koreans and Chinese are doing great with protectionism.

Like I said. Japan, Taiwan and Korea are hi-IQ nations. They don’t believe in silly Anglo-American BS like free trade with the NAFTA and GATT rubbish we are saddled with today.


34 posted on 01/02/2013 9:58:00 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: dynachrome

These are the ideas that lead to war.


35 posted on 01/02/2013 10:01:40 AM PST by bmwcyle (We have gone over the cliff and we are about to hit the bottom)
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To: agere_contra

I have great sympathy for “the South” but it is common sense that the way you build a young nation (America) is buying and making it yourself and if you need some tariffs to help this along then fine by me.

Nations should always try to be self reliant and resourceful. Trade among nations is OK but lets not go crazy over-empathizing it. It is not the panacea that many promote it as. You mine it, grow it, manufacture it at home and the USA is a large enough nation with enough natural resources to do it if we wanted to.

European nations are small so they need trade within their Euro-Zone


36 posted on 01/02/2013 10:11:39 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: dennisw
Forcing people to buy expensive domestic goods rather than allowing them to buy where they wish is financial repression. It's no more than government choosing the winners and losers.

America managed to prosper despite its period of protectionism because it had the resources of an entire, previously undeveloped subcontinent at its command. Only the most draconian, insane acts of government could have stifled its growth - and your government was not then the monster it has since become.

Fast forward a century or two, and America again has very impressive resources. But now your government is powerful enough to take every penny the wealth-producers make. Over the next two years you may all become familiar with the term 'financial repression'.

---------------

Japan is an economic basket case. We're not discussing their low crime rate or their nice neighborhoods: Japan has a quadrillion-dollar debt and an aging population that is retiring and now needs to spend the money that they've saved for decades.

But there's no money there. The Japanese government have spent it all multiple times over.

* Their debt is ~ 25 times tax revenue. 25 times!

* They spend a quarter of their tax revenue on interest even at near-zero rates. If interest went to a mere 2% they would have to spend **80% of revenues** on interest.

* Japan is not self funding. Japan's current account surplus is only 1% compared with a 10.5% deficit. Their current account will be negative by the 3rd quarter of this year.

The Japanese government will either have to borrow money or print it. They won't be able to borrow it - so they'll have no choice except Argentinean-style devaluation or hyperinflation.

For a great many years Japan has been a bug in search of a windshield. This is the year of the windshield.

37 posted on 01/02/2013 11:09:00 AM PST by agere_contra ("An unjust law ceases to be a law: it becomes an act of violence". Thomas Aquinas)
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To: agere_contra; dennisw; All

Plus Japan does not promote entrepreneurship like this country does..


38 posted on 01/03/2013 5:21:23 AM PST by KevinDavis (And you, be ye fruitful, and multiply; bring forth abundantly in the earth, and multiply therein.)
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To: agere_contra

UK is doing a lot worse than Japan. Do you seriously deny this? Free trade is an Anglo myth and delusion. The Nips, Koreans and Chinese are smarter than you in UK and never took it up. You fly into Narita or Shanghai airport and you can see the display of wealth. Fly into JFK airport...very shabby and worn and Heathrow is prolly the same

Libertarian free trade ideas only exist in ridiculous hot-house nations like America, UK and some in Europe. Go to Asia and they will laugh at you.

But by all means do carry on!


39 posted on 01/03/2013 12:35:17 PM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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