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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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shinramyun
Joined: 31 Jul 2009
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 Posted: Sat Oct 16, 2010 10:23 pm Post subject: |
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| What goes up must come down. |
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rollo
Joined: 10 May 2006
Location: China
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| Posted: Sat Oct 16, 2010 11:38 pm Post subject: |
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| Unlike South Korea Japan never really reformed their banking system and they are paying for it. Too much money lying idle. |
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visitorq
Joined: 11 Jan 2008
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| Posted: Sun Oct 17, 2010 2:41 am Post subject: |
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The article was a bit exaggerated... Japan is still doing better than most Western economies (with less overall debt, esp. foreign than countries like the UK), hence the strong yen. The economy may not be soaring with a stock market at 40k+ points, but many Japanese companies are still world beaters. Bottom line is at least they still have an industrial base, manufacture real products (not financial instruments and flim-flam), and have massive trade surpluses.
Also despite the fact that the article paints deflation as the mother of all evils, it is generally a good thing. Sure you lose out if you bought a house at triple the value and took out a mortgage to buy a Mercedes (duh)... But it also means prices become cheaper for everyday things. In Japan the prices tend to go down (or at least stay the same, while prices go up everywhere else in the world) but the quality remains high. If you can get a decent exchange on the yen, Japan is one of the best place to go shopping on earth imo. |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Sun Oct 17, 2010 6:39 am Post subject: |
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| visitorq wrote: |
| In Japan the prices tend to go down (or at least stay the same, while prices go up everywhere else in the world) but the quality remains high. If you can get a decent exchange on the yen, Japan is one of the best place to go shopping on earth imo. |
Yeah, I was in Japan in 2007 when it was around 115 yen to the dollar. I was pleasantly surprised at prices there. Certainly doesn't make me afraid of deflation, I can tell you that much. |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Sun Oct 17, 2010 6:59 am Post subject: |
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| although after reading the article, I can see why deflation would be a concern. On the other hand, I really don't think the majority of US consumers will develop the mindset of your average Japanese consumer now. That would be one hell of a cultural shift. |
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The Happy Warrior
Joined: 10 Feb 2010
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| Posted: Sun Oct 17, 2010 10:27 am Post subject: |
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| We only have deflation right now b/c of housing prices. Commodities inflation (see the kimchi thread, also cotton) is becoming a big problem. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Mon Oct 18, 2010 1:53 pm Post subject: |
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| The Happy Warrior wrote: |
| We only have deflation right now b/c of housing prices. Commodities inflation (see the kimchi thread, also cotton) is becoming a big problem. |
Corn up 60% in the last few months too. Shadowstats puts inflation at 8% (the metric used is the pre-Clinton CPI).
I see the government is putting out a new message. Cheap dollar good. Inflation good. At the same time, when there is noticeable inflation it is said to have been caused by a drought and not the Fed.
The Fed wants the impact of inflation (as it understands it) without inflation showing up in the CPI because that upsets the electorate. So the CPI is constantly jiggered to suppress the numerical expression of CPI while at the same time the deliberate policy goal of the government is to create inflation. |
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pkang0202
Joined: 09 Mar 2007
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| Posted: Mon Oct 18, 2010 7:23 pm Post subject: |
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| The only way to help Japan is if each family had 3 children 10 years ago. |
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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| Posted: Tue Oct 19, 2010 1:06 am Post subject: |
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| mises wrote: |
| The Happy Warrior wrote: |
| We only have deflation right now b/c of housing prices. Commodities inflation (see the kimchi thread, also cotton) is becoming a big problem. |
Corn up 60% in the last few months too. Shadowstats puts inflation at 8% (the metric used is the pre-Clinton CPI).
I see the government is putting out a new message. Cheap dollar good. Inflation good. At the same time, when there is noticeable inflation it is said to have been caused by a drought and not the Fed.
The Fed wants the impact of inflation (as it understands it) without inflation showing up in the CPI because that upsets the electorate. So the CPI is constantly jiggered to suppress the numerical expression of CPI while at the same time the deliberate policy goal of the government is to create inflation. |
deflation is scary so lets encourage people to spend by threatening them with inflation. Genius idea Bernanke. |
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Konglishman
Joined: 14 Sep 2007
Location: Nanjing
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| Posted: Wed Oct 20, 2010 8:47 am Post subject: |
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| pkang0202 wrote: |
| The only way to help Japan is if each family had 3 children 10 years ago. |
Here is the solution. Japan should start showing commercials with patriotic music in the background, urging people to go forth and multiply. |
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yawarakaijin
Joined: 08 Aug 2006
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| Posted: Thu Oct 21, 2010 12:00 am Post subject: |
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| Konglishman wrote: |
| pkang0202 wrote: |
| The only way to help Japan is if each family had 3 children 10 years ago. |
Here is the solution. Japan should start showing commercials with patriotic music in the background, urging people to go forth and multiply. |
Not likely with the growning segment of population known as "grass eating men" or "herbivores". No interest in marriage or real relationships, no interest in finding a full time job, no desire to ever own their own houses. I ride the trains almost everyday in Tokyo. The percentage of 30-something, gameboy toting, unshaven and clearly not heading to work men is alarming.
However, as a foreign national, I look forward to the future as the opportunities to meet bored, lonely, beautiful women are only expanding! Perhaps I will do my part to help repopulate the country. Think I could get a medal or something like that for helping out? |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Thu Oct 21, 2010 12:54 am Post subject: |
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| yawarakaijin wrote: |
| No interest in marriage or real relationships, no interest in finding a full time job, no desire to ever own their own houses. |
Basically the last 20 years of Japanese economic flat-lining have zapped all hope from many young Japanese men. It's kind of like what the US is experiencing now, but for 20 years. |
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jvalmer
Joined: 06 Jun 2003
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| Posted: Thu Oct 21, 2010 12:58 am Post subject: |
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| I remember way back in the early 90's how people would comment how expensive Japan was. A can of pop cost $2, a McD's happy meal $5. Twenty years later prices are basically the same in Japan as 20 years ago, but back in Canada we have caught up to Japanese prices. |
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mc_jc
Joined: 13 Aug 2009
Location: C4B- Cp Red Cloud, Area-I
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| Posted: Thu Oct 21, 2010 2:13 am Post subject: |
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| Japan was a bubble that inflated in the 80's, slowly deflated in the 90's and finally popped now. |
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