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weigookin74
Joined: 30 Mar 2010
Posts: 265
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 Posted: Sun Jun 23, 2013 1:06 pm Post subject: |
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| qwertyu2 wrote: |
| Solar Strength wrote: |
Why don't they start an immigration program like Canada and bring in young, educated people who can contribute to the country?
Seems simple. |
No, Japan would rather disappear as a nation than embrace large scale immigration. |
Then, they surely will.
Inflation may lower the debt, but will long term negatively affect people's life. If they are going to do this - print money, then they must equal strive for efficiency in government, lower spending and gradually reduce taxes and internal fees and regulations. (At least there could be a turn around long term and a "lower" debt of sorts.) Too much internal protectionism, but Japanese politicians never seem to want to deal with these. Japan doesn't have the cold war in it's back pocket to allow other countries to tolerate things anymore like they would have years ago. For years, it was the only non "white" country to be developed. It ain't so anymore. |
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weigookin74
Joined: 30 Mar 2010
Posts: 265
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| Posted: Sun Jun 23, 2013 1:09 pm Post subject: |
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| Inflames wrote: |
| Solar Strength wrote: |
| There is a glass ceiling for women and gaijin in Japan. |
I wouldn't necessarily say it's a glass ceiling as it's pretty obvious....
| Pitarou wrote: |
| And I understand that the big Japanese companies with cash to spare have stopped investing in Japan. They're buying all the productive foreign assets they can get their hands on, and they're sending their brightest and best overseas to take MBAs so they can manage those assets. |
Japanese companies have stopped investing in Japan for a few reasons. Japan is expensive and it's hard to fire people. Most markets are overseas so the companies are closer to their markets and currency risks are eliminated. |
I've met 40's something Japanese women who had good company jobs. (No, they weren't serving tea to men in suits.) |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Sun Jun 23, 2013 3:54 pm Post subject: |
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A lot of Japan's machinery is old as well. I don't think a lot has been invested in it since the late 90's. A guy I worked out with, worked at the JFE Iron plant. Said the machines exploded, all the time. Much like how the oil plant in Chiba blew. Just too old.
And yeah, I have met women who were highly skilled, yet were basically OLs. One was fluent in English and German, yet served tea for the most part. A huge waste of talent.
With the yen being so expensive, and the domestic market going nowhere. It was smart to buy abroad. Like Kirin bought tons of wineries and beer companies world wide. That is the ticket to survival. Softbank needs to repeat that. Same with other heavy domestic Japanese companies, like Meiji and Morinaga. If they don't, they are dead |
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Pitarou
Joined: 16 Nov 2009
Posts: 1116
Location: Narita, Japan
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| Posted: Mon Jun 24, 2013 1:59 am Post subject: |
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| Solar Strength wrote: |
| Why don't they start an immigration program like Canada and bring in young, educated people who can contribute to the country? |
Because they're racist. That's the simple, ugly truth.
Don't get me wrong. The people of Japan are very kind and hospitable. But when you see noisy groups of demonstrators marching through the Korean districts of Tokyo, week after week, with placards saying "Kill all Koreans" and "Cockroaches do not have human rights", you know there's a problem.
| weigookin74 wrote: |
| Inflation may lower the debt, but will long term negatively affect people's life |
It's worse than that.
Matters are complicated by the sheer quantity of money the banks and pension funds have tied up in government bonds (debt). Bond prices go down when inflation goes up, so banks and pension funds will see a sizable chunk of their assets evaporate, and the public debt crisis will turn into a financial crisis.
The Bank of Japan can prevent this by stepping in to prop up bond prices (and has, in fact, promised to do just this), but that further stokes inflation. And in any case, it starts to look like the BoJ is financing government expenditure by printing money. If that perception takes hold, it's game over.
We're entering uncharted territory, and things may not work out that way, but the risks are enormous. |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Mon Jun 24, 2013 5:38 pm Post subject: |
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| rxk22 wrote: |
| It was smart to buy abroad. Like Kirin bought tons of wineries and beer companies world wide. That is the ticket to survival. Softbank needs to repeat that. Same with other heavy domestic Japanese companies, like Meiji and Morinaga. If they don't, they are dead |
It may be the ticket to survival for individuals as well. I think those who plan to stay in Japan should get as much money out of yen as possible. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Mon Jun 24, 2013 11:14 pm Post subject: |
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| qwertyu2 wrote: |
| rxk22 wrote: |
| It was smart to buy abroad. Like Kirin bought tons of wineries and beer companies world wide. That is the ticket to survival. Softbank needs to repeat that. Same with other heavy domestic Japanese companies, like Meiji and Morinaga. If they don't, they are dead |
It may be the ticket to survival for individuals as well. I think those who plan to stay in Japan should get as much money out of yen as possible. |
Yeah, can not stress that enough. I don't see the yen being stable for the next decade or so.
Also, if you are Japanese and work at a company that doesn't have much foreign exposure, change jobs now! Now! Now! NOW! |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Mon Jun 24, 2013 11:58 pm Post subject: |
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| rxk22 wrote: |
| Yeah, can not stress that enough. I don't see the yen being stable for the next decade or so. |
Hopefully, Japan will remain stable enough that I won't have to leave my job here. However, it would be very foolish to just close my eyes and hope for the best. In addition to starting to look at employment prospects outside Japan, I'm also sending every spare yen overseas to try and build up a positive cash flow in dollars. If things get really bad, an extra $1,000/mo. converted back into a weak yen could make all the difference. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Tue Jun 25, 2013 1:45 am Post subject: |
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| qwertyu2 wrote: |
| rxk22 wrote: |
| Yeah, can not stress that enough. I don't see the yen being stable for the next decade or so. |
Hopefully, Japan will remain stable enough that I won't have to leave my job here. However, it would be very foolish to just close my eyes and hope for the best. In addition to starting to look at employment prospects outside Japan, I'm also sending every spare yen overseas to try and build up a positive cash flow in dollars. If things get really bad, an extra $1,000/mo. converted back into a weak yen could make all the difference. |
not a bad idea. If you can pile up some cash or even some securities in $ good for you.
Ibbet if the hen does collapse, then it will be the 1950s all over again, buying powerwise.
I am not praying for a collapse, but just ignoring it like most Japanese is just asking to have your assets totally wiped out.
Also shame on the thread starter for wishing death upon Japan because the exchange rate doesn't suit him |
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Pitarou
Joined: 16 Nov 2009
Posts: 1116
Location: Narita, Japan
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| Posted: Wed Jun 26, 2013 1:37 am Post subject: |
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| rxk22 wrote: |
| Ibbet if the hen does collapse |
Sent from your iPhone?
I wouldn't bet on anything, if I were you. Just manage your risks. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Wed Jun 26, 2013 2:23 am Post subject: |
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| Pitarou wrote: |
| rxk22 wrote: |
| Ibbet if the hen does collapse |
Sent from your iPhone?
I wouldn't bet on anything, if I were you. Just manage your risks. |
Android, but yeah.
Oh I am not betting money on it. But I would take my yen and turn it into $$ at this point, if I were in that situation.
The dollar has a lot of good history and stability. While the yen does not. Esp with the Japanese debt load, I can see for some serious problems at some point int he near future.
Besides, who believes in 年金or social security anymore? I know, I am planning on not getting much or anything when I retire. Same for those who are in japan. Get a mutual fund going, otherwise you may have nothing for retirement. |
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qwertyu2
Joined: 13 Mar 2012
Posts: 93
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| Posted: Wed Jun 26, 2013 2:29 am Post subject: |
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| rxk22 wrote: |
The dollar has a lot of good history and stability. While the yen does not. Esp with the Japanese debt load, I can see for some serious problems at some point int he near future.
Besides, who believes in 年金or social security anymore? I know, I am planning on not getting much or anything when I retire. Same for those who are in japan. Get a mutual fund going, otherwise you may have nothing for retirement. |
I'm not much of a gold bug, but I wouldn't mind buying some in yen terms if someone knows how this is done. |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Wed Jun 26, 2013 4:04 am Post subject: |
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nothing to do but wait... I wouldn't get freaked until news comes through from the gov regarding any gov funded jobs.. and good luck hearing about that.
until the gov. explicitly states funding cuts cross the board, the best indicator remains.... job boards. where the rubber meets the road for hiring trends.
Captain Obvious badges for those posters recommending retirement accounts outside japan. pin it on your chest, into your skin, there yuh go...
and death to the yen and to you! muah ha ha ha |
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Pitarou
Joined: 16 Nov 2009
Posts: 1116
Location: Narita, Japan
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| Posted: Wed Jun 26, 2013 4:12 am Post subject: |
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| qwertyu2 wrote: |
| I'm not much of a gold bug, but I wouldn't mind buying some in yen terms if someone knows how this is done. |
That's a pretty good move if you have no particular ties to any other country, but be careful: gold has risks of its own. The price of gold is mainly driven by fear (e.g. it spiked after 9/11), and by the surplus cash sloshing around in the less financially sophisticated economies, such as India and China. Also, think about where your gold will be, and what restrictions might be placed on its movement. |
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Pitarou
Joined: 16 Nov 2009
Posts: 1116
Location: Narita, Japan
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| Posted: Wed Jun 26, 2013 4:24 am Post subject: |
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| stumptowny wrote: |
| nothing to do but wait... I wouldn't get freaked until news comes through from the gov regarding any gov funded jobs.. and good luck hearing about that. |
There's nothing wrong with a wait-and-see approach, but don't be caught off guard. The day the Government of Japan admits it has a problem on NHK news is the day it implements "temporary emergency measures". And you can be sure they'll be anything but temporary. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Wed Jun 26, 2013 12:30 pm Post subject: |
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I wonder. How many ALTs/eikaiwa monkies have independent retirement accounts? Esp those over 30? I bet the numbers are pretty low. So this is a chance to tell people to save for their future.
Gold. I am men in it. Its a place u put money that you don't know what to do with. Not regular savings. |
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