Tokyo News: Nikkei reaches 30 year high of 30,000 while ordinary people in Japan are struggling

Tokyo News: Nikkei reaches 30 year high of 30,000 while ordinary people in Japan are struggling

Sawako Utsumi and Lee Jay Walker

Modern Tokyo Times

The international coronavirus (Covid-19) crisis is nearing 2.5 million deaths. However, for absolute capitalists, it is a great time to make a literal money killing. Hence, in Japan, and in other major economies, the reality of economic anguish is a mere shadow while governments pump money into the system.

Thus, while suicides have increased in Japan and 7,000 people have perished because of the coronavirus, the rich buy more shares. Therefore, while the working poor, temporary workers, struggling pensioners, and others, are facing enormous economic convulsions, the mega-rich think about getting richer on the misery of others.

Since the coronavirus crisis began, it is a huge mental strain for tens of millions who have to commute on busy trains, wonder if their companies can survive, and how they can cope with reduced hours. Similarly, essential bonuses have been reduced or completely cut.

Equally, for women who are often at the bottom of the chain, then many temporary work contracts in the restaurant sector and other areas have witnessed huge job losses – or reduced pay packets based on limited hours of work. Therefore, the percentage of women committing suicide is visible since the coronavirus crisis began.

In another article by Modern Tokyo Times, it was stated, “The Nikkei isn’t painting the real picture of the economy. Instead, wealthy financial institutions and investors are making a killing out of government stimulus packages and other factors outside of the “real economy.”

Hence, the news that the Nikkei reached 30,000 for the first time in 30 years is a reminder of the callowness of absolute capitalism. After all, for most people, they are concerned about surviving the economic and mental convulsions of the coronavirus crisis. Similarly, this figure was reached while people in areas including Fukushima have just witnessed an earthquake.

Thus the mirror of absolute capitalists making an economic killing at such a delicate time in Japan – and in other parts of the world – sums up the immorality of the stock market and how it bears little resemblance to the economic fundamentals on the ground.

Suicide increase, can we buy?


Modern Tokyo News is part of the Modern Tokyo Times group

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