As promised, here is the transcription of the blog post from yesterday. How well did you go? Enjoy
You have the Abenomics Word List, Abenomics Word List YouTube explanation, and the article I got the words for the word list from. All in the same order.
Good morning, good morning. A different way of doing my YouTube thing from today.
I realised that I was reading from a sheet - typing out the blog first and then reading it, and it was pretty boring cause I was reading like a newspaper person, and not a very good one.
Now I'm going to just freetalk, and then transcribe it. So today you only get this. Tomorrow
you'll get the transcription. Check it out.
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Let's start. We're talking about Abenomics. Today, I'm still going to be looking at this piece of paper sometimes. Abenomics today - Bank of Japan (BOJ) has come out and said that
household opinion has slumped to the level it was before Shinzo Abe started his whole
Abenomics thing. So no-one's very happy. Yen has gone down, stock prices have gone up. That's good. Companies are making money - but they're not giving pay rises and they're not spending money on
capital investment like new factories, etc, etc. Shinzo Abe - he's printing money. The BOJ's
printing money. I don't know how that works. Who do they give it to? Can they print some
money and give it to me? Probably not.
Next story. Property investment. Property prices. After Shinzo Abe started, property prices
went up cause he printed money and gave it to whoever he gives it to, and then companies had lots of money so they started purchasing new offices outside of Tokyo (we're talking
Osaka, Nagoya, etc.) But that slowed down again, that now people are sticking to Tokyo.
There was something about empty buildings in Osaka and stuff. 23rd year in a row of
declining real estate prices in Japan. That's incredible. In New Zealand - my country - prices only go up every year. Noone can afford to buy a house there now. Prices go up every year, and if you want a mortgage the interest rate is like 6% or something. 無理。
It's impossible. So prices are going down, they're not going up. Prices aren't going up in my
little hometown. Half the houses are empty.
Last one. If you are confused about Abenomics in English - I am - and what the words mean, and how it works, this last article has a very useful picture. It talks about the quantitative
easing, which is buying assets (that's the printing money bit). The second arrow is fiscal
stimulus - that's building expressways pretty much, and infrastructure. The third arrow is
structural reform - that means changing regulations and building economic partnerships with other countries. I think that last one means T.P.P.
Thank you for listening. Go to the Facebook page. Tomorrow the transcription, and all the
articles I talk about here will be up. Have a listen today. How much can you get? See how
well you did tomorrow when the transcription's up. Cool. See you later.