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- Dinsdale77, on 12/02/2008, -3/+37This really does suck balls.
- WMeredith, on 12/02/2008, -0/+26Your eloquence is astounding...
- BoonTobias, on 12/02/2008, -15/+2racist!
- bc289, on 12/03/2008, -0/+3Why is this on the front page? It's horribly written and there's nothing at all substantive in it. They provide only three reasons, all three of which are not surprising at all and look like they were written by a kid in 9th grade. The second reason isn't even a reason for why their economy will go into a recession. The fall of the stock market isn't a cause of the economy going into a recession, it's an effect of it.
Japanese economy might not survive a US recession? The recession right now is global, and there's no secret about this in any of the media. It's not just Japan, it's basically every country in the world.- kuzotz, on 12/03/2008, -0/+1pretty much. I am in japan right now. I had no troubles finding an internship in Singapore though :D
- WMeredith, on 12/02/2008, -0/+26Your eloquence is astounding...
- lovemorgul, on 12/02/2008, -2/+23One reason is a definite slowing in the US economy which has taken its toll globally.
- damack, on 12/03/2008, -5/+2They are kind of linked but the effect the "global" recession will have on economies worldwide will be drastically different.
Japan and America are really in this tighter than anybody else though a lot of people just do not understand how serious this is it isn't something thats going to go away it's a pre-cursor to a Soviet Union like collapse.
I think Japan will collapse before America collapses and it'll probably be within the next 2 decades but having said that after initial slowing down of the Chinese economy I think in a decade they will reap the results considering their still growing even now like nothing happened.
It's a gloom and doom situation for some but for a lot of others it's not having an ill effect at all.
- damack, on 12/03/2008, -5/+2They are kind of linked but the effect the "global" recession will have on economies worldwide will be drastically different.
- Burento, on 12/02/2008, -0/+60I don't think people realize just how connected all the world markets really are.
- Zfreund, on 12/03/2008, -2/+8No, they definitely don't. I was a huge Ron Paul supporter for much of this election, but the isolationist stuff is just pure lunacy!
- muckemuck, on 12/03/2008, -2/+1Isolationist stuff? Huh? wtf...
- prickett233, on 12/03/2008, -0/+3right, most people are clueless on topics such as economics and world matters, most people are only familar with the lives of characters in TV shows.
- Zfreund, on 12/03/2008, -2/+8No, they definitely don't. I was a huge Ron Paul supporter for much of this election, but the isolationist stuff is just pure lunacy!
- inggbt, on 12/02/2008, -1/+16
- SemiSarcastic, on 12/03/2008, -1/+2EXTREMELY REAL!
- Mewchu11, on 12/03/2008, -0/+7I don't know, this recession might be photoshopped.
- Swivelstick, on 12/03/2008, -0/+1No, the dollar is.
- BrokebackCasket, on 12/02/2008, -1/+17Also why the American economy will suffer.
- SuperCujo, on 12/03/2008, -0/+1The American economy is suffering because the big banks and hedge funds pushed everything over the edge.
- GeeksSpeakFont, on 12/02/2008, -1/+24the post-wwii japanese economy is pretty fascinating!
- metsgolets, on 12/02/2008, -0/+39I thought, for a second, you write "post-wii."
- ddawggin, on 12/03/2008, -10/+1I think that was a typo. I don't know of any connection between a wwii and Japan.
- dha07030, on 12/03/2008, -0/+2That too
- Vonauda, on 12/03/2008, -0/+2I did too, until I saw the reply.....
- Tonkatsu, on 12/03/2008, -0/+2They implemented QA controls via Deming (hit wikipedia http://en.wikipedia.org/wiki/W._Edwards_Deming if you haven't heard of him) previously classified by the USA in WWII. Our industry ignored these standards. This is primarily why we value Toyotas over Fords. This IS pretty fascinating. Also of note, US Industry ignored what post-war Japan readily accepted. The same ideas that helped us deliver Hitler's head also helped Japan establish brand name goods that will dominate ours for quite awhile. (I for one drive a Toyota and prefer a Sony television over a....nevermind I don't think we make TV's here anymore).
- metsgolets, on 12/02/2008, -0/+39I thought, for a second, you write "post-wii."
- buzzd1ggity, on 12/02/2008, -2/+14i am already stocking up on canned goods!
- godspeed843, on 12/03/2008, -0/+5Start planting a garden in the spring.
- goldenballs21, on 12/02/2008, -4/+6Damn the whole world is falling apart.
- USNavyBlue, on 12/02/2008, -11/+11And if you think for one second that this is some accident, poor management of the economy or lack there of - you truly are deceived and disillusioned.
- JoeF8577, on 12/03/2008, -1/+5hmmm, care to elaborate?
- Forgorin, on 12/03/2008, -1/+7Yes, please do elaborate. Do you mean that there are people out there who like to see pain, suffering and misery? Or that the guys from the Flikenbot dimension are at it again?
- SanDiablo78, on 12/03/2008, -3/+3The NWO? The Illuminati? The Amero?
- Derelict267, on 12/03/2008, -2/+3They think the new world order made the economy ***** so the U.S., Mexico, and Canada can form the North American Union and we'll all be using the amero as currency.
Turns out the root of this idea is a theoretical idea by Robert Pastor. It was not a plan, just an idea that he published in a book titled "Toward a North American Community". They think because he belongs to the council on foreign relations (which they suspect is part of the nwo, yet there isn't any proof that they actually have any power in US govt. at all) that this is the "nwo's" plan. Turns out its a bunch of ***** if you look into it for yourself. Robert Pastor isn't a bad guy at all, he served in the Peace Corps ffs.- jumanous, on 12/03/2008, -5/+1Can we say Jesuits boys and girls.
- regeya, on 12/03/2008, -1/+2Yeah. I'm a firm believer in the old saw that one should never attribute to malice what one can easily attribute to incompetence.
And yes, I believe we can attribute our current messes to massive incompetence. - masamunecyrus, on 12/03/2008, -1/+3If you think the Council on Foreign Relations is trying to end the world, you're probably insane. If you think the Council on Foreign Relations has no political power, you're also probably insane.
http://en.wikipedia.org/wiki/Council_on_Foreign_Re ...
Take a look at how many and who is on that council.
- jbmcb, on 12/03/2008, -2/+2If there is an organization that can figure out how the underpinnings of the world economy works, and have enough managerial skill to control all the micro- and macro-economic effects without public knowledge, they probably deserve to control everything. The Federal Reserve doesn't fully understand what's going on, the Illuminati must be chock-full of geniuses.
- stignordas, on 12/02/2008, -13/+2Japan just can't win. Government intervention didn't help the free markets. Free markets aren't working either.
- ronaldst, on 12/02/2008, -3/+34Please make sure you always vote the same thugs in office. They have everything under control.
- godspeed843, on 12/03/2008, -2/+7The new thugs aren't going to do anything different.
- prickett233, on 12/03/2008, -1/+5right, however americans seem to think obama will.... little do they know of his evil plans!
- SuperCujo, on 12/03/2008, -0/+2He will run off to join McCain and Palin with their ill gotten diamond money sooner or later.
- godspeed843, on 12/03/2008, -2/+7The new thugs aren't going to do anything different.
- scoottie, on 12/02/2008, -2/+5maybe they should let more of our products in so that we can make money. Its simple, buy more of our stuff and we get more money to buy your stuff
- rz8472, on 12/03/2008, -1/+5On the plus side, I'd do Rebekah Manning.
- PeanutCheeseBar, on 12/03/2008, -2/+20Next on Digg: Japanese Economy Plummets, Pokemon Still Popular.
- SuperCujo, on 12/03/2008, -1/+2WHat about Hello Kitty!?
- Rioracer916, on 12/03/2008, -0/+2How about the fact that Wiis are still flying off the shelves? I'm sure Nintendo isn't going belly-up over the economy.
- metsgolets, on 12/03/2008, -0/+1Except they're not.
...are they? - kuzotz, on 12/04/2008, -0/+1Japanese men are still going to Soaplands, and Snacks.
- HyphySoul, on 12/03/2008, -10/+2Man...another reason for ppl to hate americans, we f'in up
- madpuppy, on 12/03/2008, -2/+3huh?!?! what the hell are you talking about. The US is the largest consumer of goods on the planet. why the hell would anyone hate Americans because our economy is in a recession? They hate us now because we cannot afford to buy their stuff and it is hurting their economy? Not everything bad thing can be attributed to "Americans"
Looks like you been drinking the "everything is America's fault" kool aid.- david468, on 12/03/2008, -1/+1Because, as the largest consumer, America's recession is destroying other nation's economies. They have good reason to hate Americans for not handling their money more wisely; not only does it hurt America, but it hurts everyone.
- madpuppy, on 12/03/2008, -1/+1Actually, It just makes them STUPID to rely on someone they hate. What kind of logic makes people beholden to someone they have contempt for?
Sounds like screwed up chop logic to twist this into an America hating contest.
I got an Idea, each sovereign Nation should take responsibility for themselves. instead of thinking about how it is someone else's fault for their own shortsightedness.
- madpuppy, on 12/03/2008, -2/+3huh?!?! what the hell are you talking about. The US is the largest consumer of goods on the planet. why the hell would anyone hate Americans because our economy is in a recession? They hate us now because we cannot afford to buy their stuff and it is hurting their economy? Not everything bad thing can be attributed to "Americans"
- puzzleworld, on 12/03/2008, -5/+91Of course Japan's economy might not survive! Kamikaze bank has taken a nose dive. Customers of Sushi bank are getting a raw deal. Sumo bank has gone belly up. Employees at Karate bank have got the chop. Origami bank has folded. And finally Hentai bank is feeling the squeeze.
- Tryptomine, on 12/03/2008, -0/+37Something tells me you've been waiting for a long time for an excuse to pull something like that out.
- RoflCoptah, on 12/03/2008, -0/+17that's what she said
- firebirdx01, on 12/03/2008, -5/+1Sounds like you just shat a turd.
- im2emo4myshrt, on 12/03/2008, -2/+2Dugg just for the balls to make such a lame comment.
- Tryptomine, on 12/03/2008, -0/+37Something tells me you've been waiting for a long time for an excuse to pull something like that out.
- scot333, on 12/03/2008, -4/+12One reason the Japanese Economy will survive: They're Japanese!
- hurrayforschool, on 12/03/2008, -3/+16Japan's had to defend itself from worse.
http://api.ning.com/files/-EPx0RRQCN3VRJGT3Fmn7oMw ... - SemiSarcastic, on 12/03/2008, -1/+8Japan should go with the Lewis Black method of economic stimulation by supporting a "Build A Huge ***** Thing" public works program.
- rolf, on 12/03/2008, -1/+1Yeah, the last few decades they built a huge ***** deficit.
Maybe they oughta increase it even more >.> - LeonJP, on 12/03/2008, -0/+3Funnily enough thats the only thing the government can do (Kansai Airport? Tokyo Waterfront projects? Expressways? Japans own numerous bridges to nowhere? Anyone who has spent time in Japan knows about all the ugly and useless museums that have been erected in bizarre rural locations built with taxpayers money).
- 808ethan, on 12/03/2008, -0/+1Hahah, yeah, in Osaka they spent how many millions to rennovate (read decorate) the outside of a waste water plant. And they repave every street like twice a year. They dont even NEED the streets, everybody walks!
- positron, on 12/03/2008, -0/+2They've been following that advice for quite awhile now. Japan isn't called the Construction State for nothing. Doesn't seem to be helping.
- kuzotz, on 12/03/2008, -0/+1you should come to Japan. They have nothing but highways to nowhere because they did it during their recession in the 90s.
- rolf, on 12/03/2008, -1/+1Yeah, the last few decades they built a huge ***** deficit.
- lordwow, on 12/03/2008, -3/+3Digg - 1 Reason your server might not survive a front page article
- joliejolie, on 12/03/2008, -4/+5The difference between Japan and the US is that Japan is not in debt. It owns more US treasuries than China. More likely that the US will not survive this recession without significant changes, dictated in part by creditors such as Japan and China.
- NomortaL1, on 12/03/2008, -0/+2wasnt there a news article not too long ago that china has surpassed japan in that category?
- regeya, on 12/03/2008, -0/+5Their people save, yes. Their country? Their debt is WAY higher than GDP. Many blame the United States. Whether or not that's true, or if it's just the usual brand of America hatred, is something I'd like to see serious debate on.
And just so we're clear, things NEED to CHANGE here in the U.S. That's not entirely a bad thing.- edebolt, on 12/03/2008, -0/+2yes the Japanese national debt is nearly 7 times larger as a ratio of GDP. The cause of their debt is more related to Japanese culture and not wanting to reform their banking system after the crash in the late 80's. Prior to their banking implosion they were running a public debt surplus.
- LeonJP, on 12/03/2008, -0/+3Are you an idiot? Japan has the worlds THIRD LARGEST gdp/debt ratio in the WORLD. THIRD.
You know who is first? Zimbabwe, then Lebanon. The USA is 27th! It has almost a third less debt vs. gdp compared to Japan!
http://en.wikipedia.org/wiki/List_of_countries_by_ ... - LukasSmith, on 12/03/2008, -1/+2Leon is right
US debt is nothing.
Stop the hate.
- godspeed843, on 12/03/2008, -8/+4Web site died.
But seriously people, consider the source. Who is onlineforextrading.com?
Obviously someone that waited too long to buy a web address.- Burento, on 12/03/2008, -2/+5Ummm try Google stupid. It is all over the news and all that data is backed up. Fckin troll.
- DatVillain83, on 12/03/2008, -1/+3American's are no longer demanding Japanese commodities & the components insides those commodities, that's a problem.
- regeya, on 12/03/2008, -0/+1I just bought a Honda CR-V, and last year bought (ugh) a Toshiba HD-DVD player (which I still have and use as a DVD player.) Sadly, neither is Japanese-made (except the transmission in the CR-V.)
- ExRe, on 12/03/2008, -0/+1I have seen very few things from Japan here in the US. Pretty much all I can think of other than video games, anime, and stuff like that is knives (japanese knives > all) and camera lenses.
- FongoBongo, on 12/03/2008, -0/+11mirror?
- linkserf, on 12/03/2008, -0/+1http://74.125.45.132/search?q=cache%3Ahttp%3A%2F%2 ...
- mrquimper, on 12/03/2008, -8/+7This is retarded. Japan has been in a recession since the Asian market collapse in the 90's. They still have one of the strongest currencies and some of the hottest ladies. Rule #1: Countries that are plentiful in booty will always survive a recession. The only thing that will trip them up is if Ben flips the switch and makes that whole island disappear!
- prickett233, on 12/03/2008, -1/+1its also retarded that your post has been dugg down.
- kuzotz, on 12/03/2008, -1/+1japanese women aren't hot. They're kawaii. Which doesn't actually cut it for me. But its an asian thing. Cute seems to be more permanent than sexy.
- batmanz, on 12/03/2008, -4/+2Yet their main export still seems to be insanity.
- PinnacleX, on 12/03/2008, -6/+1Didn't realize Japans economy was so dependent on the US
- david468, on 12/03/2008, -3/+6Damn it, if the U.S. ***** up Japan I'm going to be extremely pissed off.
- THESUPERDEVIL, on 12/03/2008, -0/+1that sucks no more Deathmatch on tv?
http://www.youtube.com/watch?v=rQCdlRfdA9A - zvoidx, on 12/03/2008, -5/+1"Global" economic crisis.
ok, then...WHO has the money...aliens?- Zackinabox, on 12/03/2008, -0/+1China...(YOUR MONYIES ARE BELONGING TO US)
- ae92, on 12/03/2008, -0/+1Nobody had the money to begin with... it was all credit.
- fullback, on 12/03/2008, -3/+25What a stupid, nonsense headline. The average Japanese family has about $115,000 in yen of cash savings, not including other assets. Americans have nothing. It is the US that is in danger of splitting up or disintegrating after next year. You haven't seen nothin' yet. You'll see.
Japan has been around for about 1,000 years before the US was founded. It will be around after the US tears itself apart. Americans have no common goals or cultural threads that tie people together. Politicians keep Americans fighting each other and diversity keeps you polarized. The entire history and culture of America is bound by over 200 years of wars, nothing else.- okitasan, on 12/03/2008, -3/+5DNRTFA, but I have to agree with this.
- NomortaL1, on 12/03/2008, -3/+4am i supposed to understand DNRTFA?
- regeya, on 12/03/2008, -2/+3It's not a stupid, nonsense headline. Read up on Japan. Japanese people are savers, yes, but Japanese companies have been moving jobs out of Japan to keep selling to the West cheaply (including *gasp* building products in China and the United States) and their government is in debt at a level that's far above their GDP.
If the country collapses, who the hell cares how much yen everybody has saved up? If the government collapses, and demand for Yen dries up, the average Japanese family might as well have $115,000 in Bazooka wrappers saved up. - bulbasuar, on 12/03/2008, -0/+3http://letmegooglethatforyou.com/?q=dnrtfa+
- dizmoz, on 12/03/2008, -1/+1us Americans are kinda fat and goofy looking? does that count as a common goal or cultural thread that ties us together?
- murrdpirate, on 12/03/2008, -1/+2U.S. Americans
- dizmoz, on 12/03/2008, -0/+0haha I meant us Americans, but I see U.S. also works well! damn it!
- one2gamble, on 12/03/2008, -2/+4 so arrogant
- lurkerz, on 12/03/2008, -0/+3To say that Japan will have an easy ride is bs. If the whole world went thorough another great depression lasting 3~4 years. It would do the worst out of the industrialized nations. How long is 115K gonna last when nobody is buying Toyota's and you have little natural resources. Japans huge dependence on imports is it's weakness.
- ren1999, on 12/03/2008, -0/+9I agree. In America, I was living paycheck to paycheck. Here in Japan, I have good savings.
America, wake-up, you are all being robbed. You do all the work yet executives that do none of the work, pay themselves huge salaries. It is time to cap executive salaries and end the corruption and greed.- kuzotz, on 12/03/2008, -0/+1I live in Japan. How can you afford to save? Unless of course you bought ramen.
- LeonJP, on 12/03/2008, -3/+1What a ridiculous article. Japan's economy went to hell and noone else noticed, and ever since the 90's its been struggling to return to a neutral position.
Japan is even more screwed by this because their economy is heavily dependant on high end goods exports - China will get through this - people still need cheap manufactored crap, but are people still going to be buying a new car or just sticking with their old one? You going to get a new TV, or just keep going with that old one a little longer? Sony and the other big Japanese electronics companies are already pushing into the red, this is going to cause some serious pains.
Throw in the fact that the Japanese workforce has been moving towards low-paid, low job security temporary positions - people who will be cut as the first resort - and you can see society is heading for trouble. What you really need to know is that Japan does not have any sort of welfare that extends more than 6-months. You lose your job you get 6 months of handouts, then thats it. Your *****.
What pisses me off to no extent is how many basic facts about Japan are under-reported. Japan has more people living below the poverty line than America. Japan has a comparable number of homeless people. We have shocking news on a daily basis of people who are refused or unable to access medical care and die. My own father-in-law was misdiagnosed numerous times over 18months, eventually they got it right (cancer) and he died anyway, at home, since they couldn't get him a bed in hospital.- morningmatters, on 12/03/2008, -0/+1The Japo-philes are determined to bury your comment, but having lived in Japan and married to a Japanese lady, your comment is right on.
- kuzotz, on 12/03/2008, -0/+2I live in Japan right now. The poverty here is horrible. The coastlines are *****. I wouldn't swim int he water at any of the beaches. Japan tend to be very idiotic with their burrecracy, and they are extremely xenophobic to a point that its tough for foreigners to have successful businesses which actually ***** helps the Japanese economy. To tell you the truth mediocricy seems to be praised as long as you show you love to work hard. Hell the work doesn't have to be efficient. I remember at my aribaito my boss yelled at me for doing work that was suppose to take 10 minutes in 10 minutes. You see the secret is you drag it out to an hour or two to show them that you really enjoy doing the work. Also a lot of people are programed to follow instructions, and independent thought just doesn't exist here. VEry few people do this. ITs either the ones who left japan and then moved back, or the ones who are leading japan right now, but usually the ones who leave never go back. One day a system of theirs will fail, and then Japan might be *****. Anyway Japanese society in itself have some very serious issues.
- kuzotz, on 12/03/2008, -0/+1yea that's actually a problem. Japan saves too much. That's China's problem also. XD
- kuzotz, on 12/04/2008, -0/+1You should really come to Japan man before you say Japan is somehow superior. Japan has a history of not wanting to change their ways no matter how obvious that it is needed for their survival, and now they face a real problem with a population that can't think for itself. (literally)
- okitasan, on 12/03/2008, -3/+5DNRTFA, but I have to agree with this.
- qhan7, on 12/03/2008, -1/+6yea, because servers can not handle the requests, and give back error 500. They definitely have some Internal issues!
- Visual77, on 12/03/2008, -11/+4So when the US economy suffers, other world economies can die?
America... ***** yeah.
USA! USA! USA!
We're so awesome, it's sick.- FongoBongo, on 12/03/2008, -2/+2You're a complete moron. The U.S. is a phony economy which is based purely on consumption. All of your manufacturing has been outsourced for the worst and once people stop spending money (and they are) you will have nothing left. The rest of the world has been supplying the U.S. with consumer goods and the recent downturn is causing many export economies to readjust their production.
This readjustment for many economies such as Japan will he hard felt. But they will recover, however, the U.S. will not.- Visual77, on 12/03/2008, -0/+1Pssst....
It was phony jingoism...
Just so ya know. - schnikies79, on 12/03/2008, -1/+5There is more to an economy. We are the top producers (and exporters) of Agriculture, IT, heavy machinery, industrial chemicals and a few others.
- FongoBongo, on 12/04/2008, -0/+1BS. Manufacturing has been completely exported to other countries. If you want to talk about the top exporter of heavy machinery/precision machinery go to Germany. You guys (americans) are so arrogant. The bigger the ego the harder they fall.
- Visual77, on 12/03/2008, -0/+1Pssst....
- calroot, on 12/03/2008, -0/+1What a freakin morlock!
- FongoBongo, on 12/03/2008, -2/+2You're a complete moron. The U.S. is a phony economy which is based purely on consumption. All of your manufacturing has been outsourced for the worst and once people stop spending money (and they are) you will have nothing left. The rest of the world has been supplying the U.S. with consumer goods and the recent downturn is causing many export economies to readjust their production.
- firebirdx01, on 12/03/2008, -1/+10Oh *****- these guys make our Nintendo DSes.
- kirakun, on 12/03/2008, -2/+1USO DA!
- spoonchucks, on 12/03/2008, -0/+1Honto dayo...
- transfire, on 12/03/2008, -1/+5Has anyone figured out that Keynesian economics blows chunks yet?
- regeya, on 12/03/2008, -0/+1Other systems suck too; it's just a matter of how much. You'll figure it out eventually.
- AirRaven, on 12/03/2008, -0/+2I can see it working fine, so long as it's not adhered to dogmatically.
Mix and match is the order of the day. =P
- NomortaL1, on 12/03/2008, -1/+7最低アメリカ人！笑
- Vodd9, on 12/03/2008, -1/+2I don't know what that means but I dugg you up.
- mysticalone, on 12/03/2008, -1/+3Americans are the worst? Am I reading that right or do I need more practice?
- zomgflamer, on 12/03/2008, -3/+1He is saying
"Americans are my Daddy, suckie suckie ! lol"
- bgolds99, on 12/03/2008, -5/+5Here comes the Digg economists!
- SatoriSeeker, on 12/03/2008, -1/+1As if understanding economics is really that difficult? Do you not even care what makes up the system you live and toil in every day of your life? Seriously... the educational system in this country sets people up to be perfect worker bee slaves.
Digg is full of smart people, give it a rest and go learn some economics yourself.
- SatoriSeeker, on 12/03/2008, -1/+1As if understanding economics is really that difficult? Do you not even care what makes up the system you live and toil in every day of your life? Seriously... the educational system in this country sets people up to be perfect worker bee slaves.
- quaunaut, on 12/03/2008, -0/+6What few people know is that they've also been in a stagnant economy for quite a while, thanks to an abysmal birth rate, thusly making it so that there just aren't enough people to buy much of anything.
God I wish we had their problems... being encouraged to fornicate for the sake of your country.- muckemuck, on 12/03/2008, -0/+3that, and they propped up failed banks.. sound familiar?
- scamper22, on 12/03/2008, -1/+1what is wrong with a stagnant economy?
This is a very serious question.
Yes, we won't have economic growth.
Yes, we won't be able to invest and just magically make money
Yes, those who perform a useful job will still live. People still need food, clothing, internet access, doctors, nurses...
Now, this stagnant economy is going to be bad for those areas that are dependent on growth.
Yes, New York and London are fcked
Yes, governments with huge debts that expected to outgrow their debt are fcked.
Yes, pensions are fcked. Be prepared to gosh...take care of your parents.
- Ceryn1126, on 12/03/2008, -1/+3As someone who lives here I don't see this happening. My girlfriend actually works at a shoukengaisha (she does support work for a company that used to use the E-Trade name called SBI shouken). The market dropped, because of the perception that companies other than banks and insurance would quickly fall apart. However overall It doesn't seem to be effecting currency values etc. In fact the yen is up vs the dollar by about 20 yen compared to 2 months ago. As long as the companies that are hurt are Banking, Real Estate, Insurance, and the Automobile Industry, there probably wont be much in the way of longterm harmful effects to Japan. I mean look at the facts they have National health insurance, a postal service that until recently was government owned and one of the largest banks in the world, Land here is and will always be overvalued because of Japans space issues, and they are in direct competition with companies like GM that took big hits. Its more likely Japan would benefit long term from a downturn.
- edebolt, on 12/03/2008, -0/+2sure the yen is up on risk aversion. All the traders who borrowed Yen at .5% interest are rushing to buy out of the position. As the Yen rises then it depresses exports which are Japan's lifeblood. The BOJ is like a rudderless ship that has no control over its currency anymore. Japan will continue but perhaps with some negative growth. Until they open up and allow non Japanese people to immigrate and become citizens then demographically difficult for them to grow. Don't hold your breath on that any changes to their xenophobic policies.
- LeonJP, on 12/03/2008, -1/+1You do realise a high yen is the worst thing that can happen to Japan right? The BOJ has been trying to keep it low for over a decade, and runaway increases are going to cause a crunch in the next 4 months.
You must be stupid - NHI is in the red. The pension system is in tatters, the postal service has been privatised and is going down the drain.
Land is expensive in Tokyo but merely a fraction of its peak, land in the country is being given away because it is worthless.- kuzotz, on 12/04/2008, -0/+1YOu should look up APU. They built a university on the side of a volcano because it was given to them for free.
- JessterKing, on 12/03/2008, -1/+1I would say this is one of the biggest examples of the snowball effect, we are so freaking screwed, with every inch we crawl closer to the collapse of our societies, the smaller the next major catastrophe has to be, to push us off the edge.
- jbmcb, on 12/03/2008, -0/+1Only if you think it will be so.
- Carlix, on 12/03/2008, -7/+2Will they boost their economy selling whale meat?
- edebolt, on 12/03/2008, -4/+1decoupling theory = fail. Next watch UAE and China real estate markets implode.
- truthseeker69, on 12/03/2008, -2/+62 months ago, $1USD bought 106 Yen. Today (right now at least), $1USD buys 93.40 Yen. The dollar is weakening against the Yen, their is no doubt. I trade forex, and I am banking on the dollar to continue weakening...it's gonna go up or down with or without my help. However, the dollar will soon be at a low not seen since 1994. Once that support level is tested, it will be interesting to see what happens.
- ren1999, on 12/03/2008, -1/+13Speaking as an American, we here in Japan are just fine. Japan has no debt to other countries. Japan's corporations are still loyal to its employees and salaries are still relatively high. Executive salaries are capped. Banks are truly nationalized, not Henry Paulson fake-nationalized. Japanese people speak out and fight back about stolen and scammed money. Japan is increasing trade with Europe and a newer, richer Russia to make-up for losses due to American consumer inability to buy Japanese products. No, it is the U.S. which will not survive this U.S. elite engineered take-the-money-and-run.
Furthermore, as an American, I pay for my Japanese National Health Insurance! I have good insurance for the first time in my life!
If I sound like a bitter ex-patriot, that is because I am. I've worked between executives and the operations staff for 5 different large corporations and I've seen the greed of executives rob everyone blind before they tanked the company and ran. Every corporation is like Enron. They will tank your company to rob you of your pensions.- hwy9nightkid, on 12/03/2008, -0/+3every company practices 'pro-forma' in some way, it's very sad but true.
- LeonJP, on 12/03/2008, -1/+2As someone who live in Japan - I'm worried. The number of hakkengaishain has been rising for years - people who have no legal protection. Salaries in Japan have been stagnant and have risen very little, if at all, for the last 15 years. People are worrying about their jobs more than ever, all of the major car companies announced last week they will be laying off staff. Many other companies have announced a downsizing of part-time and contract staff. I work in finance and the expats are ***** themselves, I know of many people who have been let go, and know of many more who are extremely worried.
Best thing you can do is to dump your savings into a foreign currency and get ready for the crunch. - omgwtflawl, on 12/03/2008, -1/+2"Japan has no debt to other countries. "
Are you high? Japan's debt is moving towards 200% of the GDP.- LeonJP, on 12/03/2008, -1/+0With domestic debt of over 175% of the GDP, and external (foreign) debt is around $1.5 Trillion USD, (almost 30% of Japans GDP) they are already over 200% mate...
- ren1999, on 12/03/2008, -0/+1I respectfully add that Japan is indebted to itself and not to other countries. We don't owe China, nor do we owe the U.S.
- kuzotz, on 12/04/2008, -0/+1debt is debt ren1999. Its so ***** idiotic to be proud of that. Hell I am American, and my gov't has wasted ***** tons of money. I am not proud of that. To be in debt means you are limited to what you do, and unlike America. Japan isn't as self-sufficient as you think.
I mean I know you aren't the average Japanese person who stops me on the street and ask if I am from Kenya then I have to tell them I am American, and then they ask me if they have Mcdonald's in America(I think this guy was the village idiot because most Japanese people have a tendacy to not ask dumb question, and I tend to have great conversations with japanese people, but I kinda got lucky in a sense that I got passed the superficial relationship phase, and as soon as I demonstrated myself open to the culture and language. I was more accepted).
- Iamalawyer, on 12/03/2008, -7/+1Personally I think it's great, USA takes a big dip and all the others have near death experiences. Beg for mercy bitches! USA always #1
- blankoboy, on 12/03/2008, -1/+1And this is exactly one of the reasons the US is a ***** up country that is ruining the party for everyone else.
- Bakedwafer, on 12/03/2008, -1/+3Please explain how your external debt can be around $2 Trillion Dollars, and your Public debt is 178% of GDP at 7.60 Trillion Dollars, but you have no debt to other countries. The US public debt is at least less than our GDP.
- Vodd9, on 12/03/2008, -5/+1I was planning to find a job here this summer. I'm not so sure anymore now. That sucks.
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