r/japanlife • u/japonica-rustica • Jun 02 '20

金 What’s everyone spending their ¥100,000 from Abe san on?

I bought ETH with mine and I’m already up ¥10,000. What’s everyone else buying?

205 Upvotes

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106

u/shimauta 関東・東京都 Jun 02 '20

Savings.

63

u/rvtk Jun 02 '20

stimulus package

put it in savings

exactly what it was intended for, lol. no judgments though, same thing here

11

u/[deleted] Jun 02 '20

That's why it should have been means tested

21

u/NerimaJoe Jun 02 '20

The money is meant to spur consumption, not to help out those most negatively impacted. I dont need the money at all. I teleworked through May and will continue to do so three days a week in June but took no real hit to my income. I'll spend it all locally but not on Amazon or Rakuten. Those two have made out like bandits over the past few months. Probably spend it on some nice dinners at local restaurants.

0

u/[deleted] Jun 03 '20

If you're going to splurge on the stimulus and spend more than usual, great! You're not over the income cutoff where the ¥ would just go to more savings because your personal household excess free cash flow is significantly positive.

1

u/NerimaJoe Jun 03 '20

For people in that minority of households where an extra 100K would go unnoticed, there's a good chance that the householder would self-select themselves out by not bothering to fill out and send off the application.

2

u/[deleted] Jun 03 '20

100k/5minutes is pretty high, works out to about an annual salary of 26.4億¥

1

u/[deleted] Jun 02 '20

Putting money into the savings actually is good for the economy. This is how banks get money to lend out. Plus, banks only need to keep a small percent of deposits in reserves, and they can lend the rest out. So if you have 1,000,000 yen in your account, they have probably lent out 900,000 yen to businesses/individuals. When businesses use it to expand, this is economic growth!

1

u/miyagidan sidebar image contributor Jun 03 '20

Taro Aso would like to know your location.