Next to the United States of America, Japan’s economy has taken a massive hit and continues to nosedive almost everyday with no end in sight. The governing Liberal Democratic Party headed Prime Minister Taro Aso have undertaken a novel idea: Give away money to citizens and as they spend it the economy will receive the spark it needs to begin moving upwards again.
Taro Aso – Prime Minister of Japan
Just how much money are we taking about?
More than 2 Trillion Yen is expected to be handed out, that’s over 20 billion US dollars. Each individual applicant will be given Β₯12,000 and those who are 18 or younger or 65 or older will receive an additional Β₯8,000.
Some peopleΒ thinkΒ its a great idea, most think it’s wasteful. I have no opinion really as I don’t understand the intricacies of the plan, I just wish I could have been in Japan right now to get a free wad of cash to spend as even registered foreigners currently legally residing in Japan can line up for their handout.
Just in case you were wondering
12000 yen in just over 10500 Jamaican dollars. I have lost a few minutes of my life dreaming about what I could buy with that money, but alas, none for me -_-
Read more in detail
Planning, caution key to cash handout success
Who gets the cash handouts, and how?
Japan starts controversial Β£87 cash handouts
Foreigners of Japan – Get your FREE MONEY!!!
[eek]
I am looking forward to Australia’s stimulus package. I will be getting $950 π Which is about 59,431 yen at the current exchange rate, and doesn’t sound that impressive. But if it was a year ago when the two were equal it was 95,000. Now that is a bit of awesome!! I hope I can stimulate the economy with that!
12000 yen is like 850kr in Norway.. that’s not alot [zzz] Its like a good friday night out :p
@ Carlie…no fair, Australia gets free money too!
@ Wolf, I’d do well with that free night out night out
I got 300USD for a ‘economic stimulus’ check. Plus, according to the government I make jack nothing I get all of my federal taxes back. So I got a tax return that was 1200USD. I bought some nice shit with all that money π
I’m not sure how this is going to help. From what I gather all I can see this as is free money , but hey I wouldn’t be complaining.. if I was in Japan I would be first in line to receive my cash :-p
I’m still waiting on my money in the US :-p I want to take a vacation!!!
I think I’m getting the Japanese money and the American money. 12,000 yen will buy me about 15 bowls of really good ramen.
I’m here for another 2 months, so don’t think I’ll be in the recieving line. But still, something to check out I guess.
Since the Japanese economy is more heavily dependent on exports, maybe it would make more sense if the Japanese government gave that economic stimulus money directly to Americans instead. Then the Americans could use the money to buy a Sony or Nintendo.
I’m going to use mine to upgrade my desktop computer. It runs too slow and I hardly use it anymore.
I so grudge you all
Honestly I’m thinking to give my 12,000 to charity.. There are many people who just lost their job and have families that needs money more than I do.. IMO they should give more money to who really needs it instead of giving the same sum to everyone…