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Japanese YEN (and the economic crisis in the U.S.)
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Never Ceased To Be Amazed



Joined: 22 Oct 2004
Posts: 3500
Location: Shhh...don't talk to me...I'm playin' dead...

PostPosted: Sat Dec 20, 2008 4:22 pm    Post subject: Reply with quote

JL wrote:
"Between '68 to '71 when I first lived in Japan..."

Those must have been the days! I used to know people who came over around the same time as you, and I enjoyed their descriptions of Japan. Anybody with a western-looking face opening up "language schools" in a dank, six tatami mat flat with a shared toilet, and getting rich! College degrees and accreditations?? Are you kidding me??? If someone could speak passable street Japanese, the could be in the movies. And the lawns surrounding the Imperial Palace used to be littered with used prophylactics from Friday and Saturday night liaisons between servicemen and the local femme fatales.

The mid-eighties, though the go-go years, still bore some resemblance to the hard-scrabble days of post-war Japan. Many people aged 30 and up in the 80's, still couldn't believe their country had become rich. The 80's was the bridge between the rags-to-riches post-war Japan, and the post-bubble era the country has been in for the last two decades. Now, we have two generations of people who only have memories of Japan from the bubble era on. I can barely recognize the Japan today from the country I first saw in '85. I can't even imagine what it looks like to someone who knew it in 1968.


My Dad was stationed at Itazuke AB where the international terminal at Fukuoka Airport is now. I remember seeing Hakata Wan from the end of the airstrip. It was my father who volunteered to deliver the supplies needed when the Red Army hijacked the JAL flight to P'yongyang and landed at FUK, because it was his unit involved, and they damn-near duped them A-holes into believing that Gim-po was P'yongyang Airport, but lost it at the last minute.

I remember "Benjo" ditches lining both sides of the streets and most of the streets not being paved...my mother-in-law retells how she was forced to devour crawfish...a delicacy where I live, that was harvested out of rice fields that was fertilized by human waste (she still doesn't get why i love the "Mudbugs" so much!) She also remembers seeing the mushroom-shaped cloud as it appreared over the mountain range from Nagasaki. Interestingly, she reports like so many others...there wasn't a sound, but just a flash and the cloud.

And, sadly, I remember the Kiwi w/o even a college degree advising me at NOVA, as an M. Ed. in TESOL candidate, what I was doing wrong in classroom/cubicle because as someone on a "Working Holiday" visa was not required to have any type of credentials...just white teeth and a white face...but I digress...

Japan, in the 60's and early 70's...sad, but strong.

I love the country, but save much better in the Middle East...
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JL



Joined: 26 Oct 2008
Posts: 241
Location: Las Vegas, NV USA

PostPosted: Sat Dec 20, 2008 7:18 pm    Post subject: Reply with quote

Those are great stories! I'd heard about the "night soil" fertilizer, and people squatting in the open sewers --the kids who only know the "washlets" of today probably wouldn't even believe that their own grandparents did that! I did not know that the Yodogo / JAL airliner hijackers were nearly duped into landing at Kimpo Intn'l. And that your father was part of the supply crew in that event is pretty cool personal history, indeed! You probably already know that the Red Army founder Shigenobu Fusako was in all the headlines again, about a decade ago. She finally turned herself in and has been sitting in the pokey, ever since.

Yeah, those were heady times. It must make your eyes spin when you compare those times with the country you see today!

(And for the sake of a semblance of keeping this thread on theme --hey everyone, the yen finishes the week under 90 to the USD! Laughing )
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Never Ceased To Be Amazed



Joined: 22 Oct 2004
Posts: 3500
Location: Shhh...don't talk to me...I'm playin' dead...

PostPosted: Sun Dec 21, 2008 5:20 pm    Post subject: Reply with quote

And my family limps outta Japan tomorrow...I wonder how much of the 500K yen that we took out in 2002 they spent. Knowing my wife...not having the love of Isakaiya (sic!) and sake that I have, probably most...

NCTBA
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JL



Joined: 26 Oct 2008
Posts: 241
Location: Las Vegas, NV USA

PostPosted: Sun Dec 21, 2008 8:32 pm    Post subject: Reply with quote

A happy holidays to you!
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Never Ceased To Be Amazed



Joined: 22 Oct 2004
Posts: 3500
Location: Shhh...don't talk to me...I'm playin' dead...

PostPosted: Mon Dec 22, 2008 11:33 am    Post subject: Reply with quote

JL wrote:
A happy holidays to you!


And to you, my friend...

NCTBA
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steki47



Joined: 20 Apr 2008
Posts: 1029
Location: BFE Inaka

PostPosted: Wed Jan 14, 2009 1:20 pm    Post subject: Reply with quote

Let's ressurect this thread. I will be heading back to the Empire of Cute in 2-3 months. Buying yen with USD will suck, but only that one time. Once I am in country and earning the mighty mighty en, I can joyfully wire said en back to my US savings account. Maybe start a personal retirement account, take a bite out of my @#$ student loans.
Anyone else out there enjoying Endaka?
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Apsara



Joined: 20 Sep 2005
Posts: 2142
Location: Tokyo, Japan

PostPosted: Wed Jan 14, 2009 1:28 pm    Post subject: Reply with quote

We Kiwis are loving the endaka- the NZD had crept up to almost 58 yen by last week but is back down to 50- time to send money home again! Very Happy
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flyer



Joined: 16 May 2003
Posts: 539
Location: Sapporo Japan

PostPosted: Thu Jan 15, 2009 4:57 am    Post subject: Reply with quote

it was down to 47.60 at lunch time today
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elkarlo



Joined: 08 Dec 2008
Posts: 240
Location: Maryland

PostPosted: Fri Jan 16, 2009 4:57 pm    Post subject: Reply with quote

JL wrote:
"Between '68 to '71 when I first lived in Japan..."

Those must have been the days! I used to know people who came over around the same time as you, and I enjoyed their descriptions of Japan. Anybody with a western-looking face opening up "language schools" in a dank, six tatami mat flat with a shared toilet, and getting rich! College degrees and accreditations?? Are you kidding me??? If someone could speak passable street Japanese, the could be in the movies. And the lawns surrounding the Imperial Palace used to be littered with used prophylactics from Friday and Saturday night liaisons between servicemen and the local femme fatales.

The mid-eighties, though the go-go years, still bore some resemblance to the hard-scrabble days of post-war Japan. Many people aged 30 and up in the 80's, still couldn't believe their country had become rich. The 80's was the bridge between the rags-to-riches post-war Japan, and the post-bubble era the country has been in for the last two decades. Now, we have two generations of people who only have memories of Japan from the bubble era on. I can barely recognize the Japan today from the country I first saw in '85. I can't even imagine what it looks like to someone who knew it in 1968.


I'm a history nerd, so I love this stuff. Funny how much Japan has changed, and even regressed a bit. Being there in the 70's must have been something different. Some say that's what China is like now.

Anyone else want to throw in their stories of pre 2000 Japan?
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Apsara



Joined: 20 Sep 2005
Posts: 2142
Location: Tokyo, Japan

PostPosted: Sat Jan 17, 2009 1:48 am    Post subject: Reply with quote

I first arrived in 1995, but things haven't changed enormously since then- the 90s aren't exactly ancient history! I think you have to go back pre-Bubble to find big differences Smile
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JL



Joined: 26 Oct 2008
Posts: 241
Location: Las Vegas, NV USA

PostPosted: Sat Jan 17, 2009 4:29 am    Post subject: Reply with quote

Okay, here's a story for you. My first New Year's in Japan, I almost starved. Okay, bit of an exaggeration, but not that much. I lived in a neighborhood in northern Kawasaki, only 20 some minutes from Shinjuku -so we're hardly talking "the boonies" here. But I had a room by myself, and no one bothered to tell me that EVERYTHING in Japan would close down from New Year's Eve until January 4. And back in 1985-86, I mean EVERYTHING. Convenience stores did exist. But they didn't start to take off in popularity and ubiquitousness until later in the decade. But back then, there were none near where I lived. There was a Japanese grocery store, and then the usual Japanese-style shopping street with all the little vendors (the rice shop, the vegetable and fruit shop, the tiny little electrical appliance shop, etc.). But everything was locked up and shuttered. I knew no one around there, and ran into serious food trouble after a couple of days. I did know of a family restaurant quite a hike from my neighborhood; at least that place remained open. That place, some crackers, and a lot of unexpected dieting held me over until January 4th.
Nowadays, convenience stores are ubiquitous, and so are supermarkets that are open 365 days a year, for that matter. But not back then.

I've got tons of stories. But I know how old guys with stories of "the old days" can sound. Wink
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JL



Joined: 26 Oct 2008
Posts: 241
Location: Las Vegas, NV USA

PostPosted: Sat Jan 17, 2009 4:59 am    Post subject: Reply with quote

"...Things haven't changed enormously since then- the 90s aren't exactly ancient history!"

I'd have to agree. The 90's have more in common with the decade that followed, than the decade that preceded it. The 80's were something else. I hit Japan at just the right time, and wouldn't trade those times and memories for anything. The 90's, however, is the decade when reality caught up to Japan. It was inevitable, and hardly all bad. But the Japan we have and see today started to truly emerge after "the economic miracle" was put to bed.

Now to really hear some tales from some times that no longer exist, we'll have to get NCTBA to share some of his memories with us. The late 60's and 70's had more of the hardscrabble times. But also the post-war recovery energy, mixed with the charm of a society that still had most of its population born before Japan's modernization.
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flyer



Joined: 16 May 2003
Posts: 539
Location: Sapporo Japan

PostPosted: Wed Jan 21, 2009 12:38 am    Post subject: Reply with quote

newsflash

NZ$ down to 46 today!

how low will it go?
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JL



Joined: 26 Oct 2008
Posts: 241
Location: Las Vegas, NV USA

PostPosted: Wed Jan 21, 2009 12:58 am    Post subject: Reply with quote

flyer wrote:
newsflash
NZ$ down to 46 today!
how low will it go?


As long as it's just the kiwi, you guys are in pretty good shape. Trade with NZ flies under the radar. It's the ol' US greenback that Japan's MOF is watching. I say, party on, till someone says otherwise!
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JL



Joined: 26 Oct 2008
Posts: 241
Location: Las Vegas, NV USA

PostPosted: Fri Jan 23, 2009 7:44 am    Post subject: Reply with quote

Welp, today the U.S. media was filled with stories about how the new treasury secretary is out to push for a strong U.S. dollar. The yen did actually gain a touch on the greenback, but if US policy supports a strong dollar -and we KNOW that Japan does- then the yen party might just about be over. The pound, euro, kiwi, Aussie dollar, Canuck, etc., are not inextricably linked the US dollar. But if the hot money starts pulling out of yen, everyone is going to start feeling the pain. If you haven't already, start hedging about half your savings into your home currency. I could be wrong. But it's looking more and more like I'll be right.
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