Japan to boost stimulus to $1.1 trillion as virus threatens deeper recession

first_imgTopics : Japan is boosting its new economic stimulus package to expand cash payouts to its citizen as the coronavirus fallout threatens to push the world’s third-largest economy deeper into recession.Prime Minister Shinzo Abe unveiled the new stimulus less than two weeks after his cabinet approved an earlier plan to spend 108.2 trillion yen ($1 trillion), which had detailed payouts of 300,000 yen to households with sharp drops in incomes hit by the outbreak.Abe has caved into pressure from within his own ruling bloc to boost the help with a payment of 100,000 yen for every citizen instead of 300,000 yen for limited households, analysts say, even as the new amount triples the cost to 12 trillion yen from what the government had originally planned. Expansion of the scheme may support private consumption that accounts for more than half of the economy, some analysts said, while others believe most of the payout would end up in savings rather than spending to shore up the economy.”Recipients of the payouts include the rich and the people whose incomes are not suffering, so savings will also rise,” said Ryutaro Kono, chef economist at BNP Paribas Securities. “Even considering more people will suffer an economic pain this time than during the 2009 financial crisis, the proportion of the payouts that will be spent is estimated at about 40%. As such, it would push up GDP only by 0.3 percentage points.”The upsized package will total 117.1 trillion yen ($1.086 trillion), with fiscal measures making up less than half of it, a draft reviewed by Reuters showed. Some 25.7 trillion yen will be funded by an extra budget for the fiscal year from April 1, compared with an initial extra budget worth 16.8 trillion yen.Monetary, fiscal policy mixcenter_img While the government boosts fiscal stimulus, the Bank of Japan has also joined other central banks to roll out stimulus to stave off the risk of global recession.The BOJ eased monetary policy last month by pledging to boost risky asset purchases and create a new loan scheme to pump more money into firms hit by slumping sales. The central bank will discuss further steps to ease corporate funding strains at this month’s rate review as the impact hits profits.The government now plans to issue extra bonds worth 25.6914 trillion yen to fund the supplementary budget, the draft showed.Of the extra bond issuance, some 23.3624 trillion yen will be deficit-covering bonds and the reminder will be used to finance infrastructure spending, bringing the amount of market issuance to the upper range of 152 trillion-153 trillion yen.The extra borrowing will add to the industrial world’s heaviest public debt burden, which is more than twice the size of Japan’s $5 trillion economy.It is rare for the government to compile an extra budget at the start of a new fiscal year, and it is even rarer to revise a budget draft that has been approved by the cabinet after coordinating closely with the ruling coalition.Last week, the prime minister, who has been criticized by some over his handling of the pandemic, apologized for confusion over a plan to start distributing coronavirus relief payments next month.Abe’s cabinet is expected to endorse the stimulus spending plan as early as Monday.More than 200 people have died from the virus in Japan, which has reported over 11,000 infections, of which more than a quarter are in Tokyo.last_img read more

Johnson, Schroeder win green to checkered features at Arlington

first_imgThe IMCA Modified feature saw three different leaders with Chad Porter and Clint Hatlestad run­ning up front before Brandon Beckendorf made his move on the white flag lap, edging past Hat­lestad to take the lead and the win. Jason Schroeder was the Saturday Karl Kustoms Northern SportMod winner at Arlington Race­way. (Photo by Sarah Moriarty) Bill Johnson reeled in leader Jeremy Schultz en route to the Sprint checkers while Jason Schroeder raced from the third row at the start in winning his first Northern SportMod main of 2020.  Brett McConnell took the lead on the second circuit and stay in front to the finish of the Mach-1 Sport Compact main event.center_img ARLINGTON, Minn. (Aug. 22) – Both the IMCA RaceSaver Sprint Car feature and the Karl Kus­toms Northern SportMod feature ran green to checkered Saturday at Arlington Raceway. Jeff Larson had the IMCA Sunoco Stock Car no one could catch while Cory Probst made his move to the front of the IMCA Sunoco Hobby Stock field the last time around the track.last_img read more

Sunday blog: Talking terrorism, financial hardships, Royals, stupid protesters and A&A football

first_img Close Forgot password? Please put in your email: Send me my password! Close message Login This blog post All blog posts Subscribe to this blog post’s comments through… RSS Feed Subscribe via email Subscribe Subscribe to this blog’s comments through… RSS Feed Subscribe via email Subscribe Follow the discussion Comments (6) Logging you in… Close Login to IntenseDebate Or create an account Username or Email: Password: Forgot login? Cancel Login Close WordPress.com Username or Email: Password: Lost your password? Cancel Login Dashboard | Edit profile | Logout Logged in as Admin Options Disable comments for this page Save Settings Sort by: Date Rating Last Activity Loading comments… You are about to flag this comment as being inappropriate. Please explain why you are flagging this comment in the text box below and submit your report. The blog admin will be notified. Thank you for your input. +11 Vote up Vote down RLS · 247 weeks ago You say in your article that it is not relevant to know about a candidate’s bankruptcy. I disagree and for the very reason you mentioned regarding how the person reacts to the bankruptcy. The reason for the bankruptcy might have been out of their control due to economic times or health issues. But also, we the electorate need to also know how what they did afterward. I will use your example of Abraham Lincoln. He and a friend bought a store. The friend had the money for his half but Lincoln signed a note with the previous owner for his half of the investment. After going broke Lincoln sold his assets but was still short for his payoff but he continued to make payments to the previous owner even though he was not required to do so. However, his partner died and left debt from the store and Lincoln assumed that debt and also paid off his partner’s debt even though he did not have to do so. That shows good moral character and represents a person that does the “right” thing even if not required to do so. That is the reason it is relevant to the electorate if a person has had financial issues in the past. You also mention that the government can not release this information, you are correct but a simple google search will reveal a lot. You mention it is your job to ask for the records. Then why didn’t you? The electorate should have full disclosure of a candidate’s background, good and bad. Does it mean that they can not be a good money steward for the government? No, but that is for the electorate to decide not the media and in this case the media decided by not requesting the information. Report Reply 2 replies · active 247 weeks ago +1 Vote up Vote down Pat · 247 weeks ago I like what you have to say! Very well put. I think all of our city councilmen should have to put their rocks on the table or get out. Report Reply +1 Vote up Vote down Meryl · 247 weeks ago Very well said. Report Reply +3 Vote up Vote down Larry · 247 weeks ago As far as the Paris attacks, the terrorist again hit a soft target where they knew there would be no or little response to there attack on the citizens of Paris and until it was to late. We have the same problem in this country where all the attacks that have occurred at school and malls have been on again SOFT targets where they can commit the assault with little or no response back at them. It is always to late. When the terrorist do attack in this country again they will again hit a SOFT target. Do we see a pattern here. Yet out president doesn’t even have a clue to what is going on. You can not and will never be able to negotiate with terrorist because they only want to destroy and kill all of us. The president and those that support him will be the first to asked for help when it happens, and they will be asking law enforcement and armed citizens to safe them. These are the people the president and his follower want to disarm and destroy. Time to Wake up America. Report Reply 2 replies · active 247 weeks ago -3 Vote up Vote down Ted “Theodore” Logan · 247 weeks ago ” These are the people the president and his follower want to disarm and destroy.” Are you just trying to make a hawk/dove point or do you seriously believe this? Report Reply +3 Vote up Vote down Larry · 247 weeks ago I disagree, the president doesn’t want to disarm or destroy, he can’t even call them what they are: Muslim terrorist. I will say that the majority of Muslims are not terrorist and it is the extremist that make them look bad. But I don’t see our president doing much of anything to destroy them, but I do see him releasing terrorist back to there countries where they go back to trying to destroy us. Bringing all the refugees to this country is a big mistake. They have already noted that terrorist are mixed in with the refugees that are coming here and he is just ignoring the warnings and doing it anyway. With his actions he is helping them to try and destroy us from within. Report Reply Post a new comment Enter text right here! Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new comments Commentary by Tracy McCue, Sumner Newscow — Five Cueball thoughts for November 13, 2015…1. Paris attacksThe recent attacks in Paris, France, leads me to three conclusions…1) It’s miraculous that we haven’t had a major terrorist attack on our U.S. soil since 2001.2) When we humans finally decide to destroy ourselves once and for all, it will come with little or no warning.3) Somewhere, someplace some fringe terroristic lunatics are planning a Paris type attack on this country as we speak and there really isn’t anything we can do about it. As the well orchestrated Paris attacks demonstrated, all it takes is money, intelligence, loyalty and resolve.As for me, I’m not going to think about it and hope someone a lot smarter than me can figure out how to keep us safe. I’m too busy raising my kids, riding my bike and gathering news for Sumner County, Kansas to worry about things I can’t do anything about.———2. Financial recordsLast week, when many were having a collective cow about what was or wasn’t said at a Wellington City Council meeting, I thought the more interesting issue was the contention that the financial records of people running for city council should be released to the general public. Some believe if you have difficulty with your finances, there is no way you are qualified to run the city’s business.I couldn’t disagree more. First of all, the government can’t just release personal financial records of its private citizens. That would be my job as a news reporter to go ask for them.Excluded from Wellington City Council because of personal financial hardship.Second of all, it isn’t relevant anyway.Having financial troubles to the point of declaring bankruptcy may result from many things – whether it be a healthcare calamity, a bad risk on a business, or simply bad luck you never know. Oftentimes successful entrepreneurship is as much about luck as it is about skill or smarts.I also disagree with the notion that those who have had personal financial troubles would not be good stewards of our city funds. You know who went bankrupt before he became President? Abraham Lincoln. Thomas Jefferson did too. Walt Disney was bankrupt before he built his empire. Henry Ford, Milton Herschey… etc. It’s not the bankruptcy, that should be scrutinized but how that person reacts after his/her downfall that’s more important.Overcoming hardship says a lot about a person.———3. Kansas City RoyalsIn case you haven’t heard, the Royals won the World Championship a couple weeks ago. I’ll wear a T-shirt around in case you forget.  I kind of feel bad for those around me who can’t jump on the bandwagon and celebrate like the rest of us. That’s a spoonful of happiness at their disposal. There may be just 10 or 20 dyed in the wool Royals fans in Sumner County, who stuck through 30 years of suck-fest baseball. But who cares? The rest of us are celebrating the fact a World Championship has finally come to the area for the first time in 30 years, and it’s our turn to tell everyone we are better than everyone else.I get accused of being a bandwagon fan, but I’m pretty consistent in my bandwagon-ism. I always cheer for the local teams to do well on the big stage — whether it be the Royals, the Wildcats, the Wichita State Shockers, or the Wellington Crusaders. The only exception I have is the Kansas City Chiefs – because they are, um, the Chiefs. But if they ever win a Super Bowl in the next 1,000 years, I will still be happy for those people around me just because they have suffered so long.As for the Royals, let’s just name general manager Dayton Moore — the second smartest guy in America behind KSU football coach Bill Snyder. His team today is the toast of the world — built around athleticism, speed, and a bullpen like no other. Hard to believe this once pathetic franchise has turned into something all of baseball now wants to emulate.I have never been a Major League Baseball aficionado and didn’t get trapped in the nation’s obsession with the game until I started watching the Royals intently last season. Now I can’t get enough of it. What a great time to be alive.———4. Stupid protesters Are these the dumbest protesters in the history of mankind?Isn’t the whole point of a public protest is to create attention to yourself or to a cause you are promoting or protesting?So what in the heck are these moronic University of Missouri college students so upset about a reporter coming over and taking pictures of them? They don’t want the media to promote their cause?Then you have Madam College Professor at the end of the video, who obviously hasn’t left her herbal tree enclave since the last U of M protest in 1969, demanding that the reporter be physically removed by her entourage. Hey, Moonbeam. Taking pictures on public grounds is completely within your constitutional rights something you should have learned in your third grade social studies class.If this is a future of our country, I’m thinking we might as well turn over the keys to some third-world despot leader now.———5. Shout out of the weekThis week it goes to the Argonia-Attica football team that just qualified for the Class 1A 8-man Div. II state championship game for the second consecutive year.The Titans ripped Axtell 52-0 – which was the same team that beat Caldwell the week before 62-14. The Titans have been so dominating this year that they have played just one fourth quarter all season. In eight-man football if you outscore your opponent by 45 points at the end of the first half you can end the game right then.This could be what next Saturday’s 8-man state championship game will look like.Yet despite its weekly drubbing of opponents, the Titans are going into the state championship game as underdogs. Victoria beat A&A 52-8 in last year’s state championship game and is currently on a 24 game winning streak.Next Saturday when these two teams square off for the state title in Newton, it could be the Ali vs. Frazier battle of eight-man football. I can’t wait.Follow us on Twitter.last_img read more

Accounts differ on U.S. attack that killed 25 Iraqis

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! BAGHDAD – U.S. troops backed by aircraft attacked a Shiite town north of Baghdad at dawn on Friday, killing at least 25 Iraqis the military described as criminals who were involved in the transport of weapons. But Iraqis at the scene said the dead were civilians, though some were armed. The military said it had been searching for an insurgent leader believed to be associated with the elite Iranian Quds Force, which U.S. intelligence sources believe is working in Iraq to foment violent activity by some Shiite militias. A military spokesman said the raid was unsuccessful in capturing the insurgent leader. Iraqis at the scene gave an account that diverged sharply from that of the military. They said the Iraqis who were killed were trying to defend their town from al-Qaida in Mesopotamia, the homegrown Sunni militant group that U.S. intelligence believes has foreign leadership. Al-Qaida in Mesopotamia has been active in Diyala province, where the town is located, but so have militias associated with the anti-American Shiite cleric Muqtada al-Sadr. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREChargers go winless in AFC West with season-ending loss in Kansas City“The residents were defending themselves and the town,” said Uday al-Khadran, the mayor of Khalis, the district in which the fighting occurred. “They were not militias for killing people, and they were recognized by the security forces in the district, and this issue is familiar in all the towns of Khalis because of al-Qaida threats, especially to the Shiite,” he said. However, a statement the U.S. military released described a serious onslaught from the Iraqis in the town. As U.S. forces approached the village, the statement said, they came under heavy fire and called in airstrikes. “Responding in self-defense, the ground force returned fire,” the statement said. “Enemy fire intensified, and supporting aircraft were called in an attempt to suppress the threat. The armed group continued to engage and began to aggressively maneuver toward coalition forces, firing assault rifles and rocket-propelled grenades,” the statement continued.last_img read more