Please continue making your content. It gives us a perspective for the normal citizens of Japan that isn't click bait or shock content. You give a realistic perspective of Japan life.
@@QuadDamage-tt7sj I honestly believe it is probably the best time within the next 6-14 months to move to Japan. The Yen is at an all time low and globally there is an entire generation of people whom are absolutely fed up with the status quo, and I believe that extends to Japanese people in some aspects. I believe in the next 10 years we will see massive change in terms of the global economy as well as Japans “desperation” to encourage younger people to have children. Big changes are upon us and it would be wonderful to be a part of it in Japan.
I’m curious to know which countries who are part of G6 are doing well and who isn’t. The U.S. has definitely suffered here due to inflation especially the housing market and cost of food.
this channel is priceless. You got the sentiment of the average japanese citizen in plain english and straight from the source. Just like having a conversation with a friend . Thank you for the content.
Its the same in UK. 2,3 years ago, with 40 pound i buy food for almost 2 week for me and my girlfriend. But now we spending 100 every weekend, buyng almost same stuff...?! I m realy scared to go shopping.....
@@tvcomputer1321 tipping does not bother me and i have no problem with it when i visit the USA, the entitled youth with the cow piercing under the nose are what i have problems with
@@caveteethjoe I too have lived here all of my life. I do believe they were referencing the eclectic people you can find more commonly on the coastal states (California, New York, Florida, etc.)
Not many Japanese visit us in Australia anymore. However on the other hand there are ever growing numbers of young Japanese working holiday makers who can earn AUD$23-30 an hour or more in hospitality, retail work and farming compared to around 1000 yen / AUD$10 back home. Employers love them because they’re so polite and diligent and we have countless Japanese restaurants which is a good place to get started before branching out and doing a bit of sightseeing.
I thank the Japanese people most sincerely for producing some of the best cameras, cars and Motorcycles in all the world. Our companies got completely sloppy and greedy and just took total advantage of their customers till you great people stepped in and turned this totally around. That forced our companies to try to do the same. Thank You
I really appreciatw by the wonderful Japanese influence on the lives of myself and fellow Australians. For example, Japanese food in is very in healthy, beautifully prepared and presented. Also Japanese cars have been a wonderful means of transport. I have personally owned and driven several different Japanese cars. My favourite was a Toyota Camry station wagon. I could go on and I am sure many agree with me.
The Japanese people are great but I don't believe slobbing all over their corporations knobs is the answer. They had bailouts and cheated the system as well, before us in the 90s. It's why people in Japan have to work 12 hours a day. To dig themselves out of the hole their banks and corporations dug them into.
His will become more popular after that his leadership at work might know about him and his content. What he is saying here isn't typical for japanese employees. They might laid him off (they will find any reason why). Once he gets laid off it would be horrible. That is worst case scenario
We're getting poorer in the US, as well, but for different reason. Our prices have recently risen so much, we can't afford to eat out anymore, or go on road trips within our own country. Our grocery bill has nearly doubled in only a few years. Middle class families can no longer afford houses. Our incomes are still rising, but not fast enough.
I'm a poker player in Los Angeles and recently I noticed many Japanese people in the poker room. I talked to some of them. They live in share house and are remote workers in Japan. They stay for 3 months to play poker and then go back. They do say everything is expensive in LA but it is easy to make money and save it. They say they can make one month salary in just a few days.
Hawaii has many Japanese immigrants who own property here. Lately many of them have sold their property and moved back to Japan with the favorable dollar to yen.
As you describe it’s a crazy situation but we shouldn’t forget that tourists are happy for the few days they are in Japan, but as in my case, I return to an Australia where a can of cola may cost $5 and no young person has the chance to ever buy a house…. Who is actually poor?
We're all poor, that's the tragedy. Nobody wins in this global competition, except those who own the corporations and banks, because they are able to move assets around the world and dodge taxation.
Everyone is poor, point blank, except for the select few though. The local and national economy of Australia and Japan are incomparable anyways. By your logic, where do the local people go then?
@@GK-up6xzyou’ve lived in Japan 35 years, and you’re asking “who is actually poor?” Make it make sense please. Japanese middle class citizens are struggling to make ends meet, just as, I imagine, they are in Australia. I am confused on your original take. Did you mean that the bright side is foreigners can have a grand time while citizens are unable to afford things?
I used to live in Japan. Yen devaluation makes me sometimes think if it is the right choice. But I really have to come back. There is not any better place on this planet than Japan.
Im late 40s and stopped going out many years back when my kids were born and I didn’t ever feel lonely back then, as they got older and started to move out and started their own lives it hit me like a sledgehammer and bam, lonely feelings. Now I look back and I’m glad I spent those Friday nights and Saturday nights in with them as work during those times was brutal. I do wish I worked less but I feel we did good raising 2 kids who will do great things and are amongst the first in both sides of the family to go to university. Your videos have really touched me and as now I have more time on my hands have inspired me to start streaming the games we play, as all of us are gamers at heart. I dug out my ps2 and ps1 games yesterday and had a blast so thank you for making me feel less alone since I found your channel.
@@happycakes1946 it's in terms of net worth. From 2019 to 2023 the net worth of millennials gained 49%. Now, after inflation that's probably more like a 20 to 25% real gain, but still. People on average did gain wealth over the past few years, the issue is that it was the result of an unsustainable government deficit.
"Japan’s per capita GDP rose from 16% of the US level in 1960 to 154% in 1995. But by 2022, that figure had fallen to 46%, and it is likely to decline below 35% in the future." [Yi Fuxian in "The Chinese Century is Already Over"]
Here in England, many people have a great deal of admiration and respect for Japan, your people, history, culture and beautiful country. Select, wealthy people here are prepared to pay a ridiculous fortune for “fashionable” Japanese clothes…even “work wear” that garbage truck drivers wear on your streets. That would be “fashion” here! And Japanese hot-forged garden tools is another trendy thing here now. So it’s not all bad news. A lot of highly discerning people love Japanese stuff. The quality. The precision. The love and skill that goes into making them.
Very true, the Japanese have always excelled in manufacturing/hardware but they are way behind in terms of software and emerging tech. I recall in my youth all the Japanese made goods (walkmans, tv/radio, gaming, cars).
I really feel bad for the average Japanese seeing their wealth fade away. Going forward what's the point of even working when the yen becomes 160...165.... 170 to the US dollar. That's how I would feel if I were in that position or figure out a way to leave the country. Growing up in the 80s and seeing how wealthy and unstoppable japan used to be it's unbelievable to me to see japan in the state it's in. Good luck to you.
@@-RoyBatty-89 Japan is resource poor, they are one of the biggest global importers of oil and oil by-products. they import a lot of their food and machinery also. very weak yen affects all Japanese. Long term weak yen affects the entire world.
Yeah, because the US was afraid that Japan would become stronger than the US, so it imposed various unequal treaties on Japan, such as the Plaza Accord, and messed up Japanese industry.
Thanks for sharing your thoughts on midlife in your prior video. I just subscribed a few days ago. It seems I'm not alone in my habit of going out only once every two months and finding enjoyment in something as simple as drinking soda. It's a cheap thrill that I truly appreciate.
Your frank and candid assessment of local concerns and opinions makes for compelling viewing. We appreciate your unvarnished views and observations. Awesome stuff.
Export what? Their industries have stagnated for 2 decades. Name one TV brand outside of Sony that is still selling outside of Japan. It takes decades of weak Yen to strengthen their companies again, but there are no young people left to work, so...
Its easy to get fixed up conversion rates.. Japan is one of the best countries in the world when it comes to living standards, health, food quality and so much more. Your nature is beautiful and diverse. To me thats more important than anything Travelling abroad is overrated. I've been a lot of places. There are very few places Id willingly go back to. Now all the places I want to see are in my own country, Italy or Japan
This is a reality in the US for the average person as well. Issues with the Yen aside, we have cases where the cost of everything has gone up. Value of currency doesn’t matter if everything else goes up with it. I hope all of us can pull out of this sane on the other side. Good luck to you my brother. I’ll keep following you sir.
I'm an American who visited Japan on a week long vacation this month. I found once you got out of the busy train stations and scramble crossings the country is very quaint, quiet, and pleasant. Anyways, whilst I had been doing my brief trek around Japan it unsettled me how so many other Westerners (North American and European alike) were boasting about how cheap everything was in Japan. So many Westerners do not understand that it's no longer 100¥=$1 or 1€ or 1£, and the fact that wages have only marginally increased since the early 90s. I completely understand the disgruntlement of regular working Japanese today, if one's salary was that of $30,000 a year with the current prices of everything at a Japanese Supermarket I would be outraged. I would have probably have a panic attack. Thank you for the video.
I just came back from Japan - I cannot believe that Japan is now cheaper than Thailand for food and public transport. Hotel Accommodation is on par … I have travelled back and forth and worked in Japan on and off for 25 years and this is the cheapest I have seen it. Good post…
Not able to vacation in Europe is not a big deal. There are lots of beautiful places in Asia like China. China is huge with diverse climate and spectacular landscape and it's a shame it's not listed in one of the more popular places for Japanese to visit. I suggest it as it is likely very affordable for Japanese to visit it.
We all are going through similar turbulence, my two cents is to hang on in there and never let negative thoughts overtake you. Live one day at a time, when tomorrow comes then yesterday was just another day.
Like many Japanese people I've met, I noticed from your videos that you explain all your points by sharing concise written notes. It's very easy to understand when the presenter does this, and I'm sure it helps you drive the points across. Thank you.
this is such an enjoyable ASMR, a side of what you are explaining -which is quite concerning-. Hope current situations gets better sooner than expected, many people we do love japan and its people. Best regards
Thanks. I am from France and believe me, our economic situation is far worse. The French national debt is enormous, and most is own by foreign interests... Which is not the case for Japan. Take care
its true man, i went to Japan last month to catch the Cherry Blossoms, things are so cheap. Even the Japan rail pass for Shinkansen going up by 70% in prices is cheap. Japanese service and products are extremely high level and disciplined so i think you will not be poor. But its not so good to work in Japan now or live as a local due to the weakening Yen. 15 years ago Yen was strong, things were expensive for foreigners. But at current Yen rates, I would definitely visit Japan again. I had the Hitsumabushi at 3300 yen while my country will charge more than $30 for this dish. I hope the Japanese government looks after the people by more work-life balance and retirement safeguards.
Japan's economy was built on exports but Japan simply isn't competitive any more. And I don't just mean in terms of prices, I mean in terms of innovation and marketing. Look at Samsung or Xiaomi, they are what used to be Sony or Hitachi. Japan is still present in the auto sector and in cameras but home appliances, musical instruments, watches, it's no longer a player. The weak yen might actually help Japanese exports become more competitive but if the problem is lack of innovation and poor marketing than lower prices alone will not help and Japan will slide down to becoming a tourism dependent third word economy.
I live in Shanghai and I've already travelled to hokkaido last year, the hotel prices are rising, plane tickets aren't cheap either, so travelling to Japan isn't cheaper than a few years ago, it actually feels more expensive now since there are so many travelers. Sure many goods in Japan are cheaper, but there are so many cheaper options in China, the Japanese items are still more expensive than Chinese alternatives. Even though many people from rich countries are buying brand goods from Japan, but as Chinese I still think I will not buy brand stuff just to save money and enjoy the trip.
Your voice is so calm, soothing and relaxing. You should create another CZcams channel for ASMR. Which is people making videos speaking like you getting the relaxing feeling by there voices. You should definitely do it for your Japanese audience and English listeners. I would subscribe right away! Great videos and keep em coming. 😊👍💎
Japan isn't poor because of its weak currency. It's just much more expensive to import and travel. Prices and wages within Japan are consistent unless for imported goods. The Yen was at 358.44 to the dollar at the beginning of 1971 and managed to recover. Japan can make huge profits from exports during this period. The tourism sector will also boom. Time to tide out the storm. It's a temporary phenomenon. Maybe try not to have the doom and gloom mindset. Appreciate your openness and honesty.
All currencies are backed by governmental mafia. They are a myth. They are all globally collapsing into the USA dollar, as they have the most powerful army/navy and the currency is the global currency… however the USA Dollar is collapsing into bitcoin. If you look at the bitcoin chart vs dollar, yes bitcoin gone has gone up a lot… or the dollar has gone down a lot, depends which side you stand on. Bitcoin is your life boat to escape your countries collapsing currency. That’s why governments are trying and failing to control or ban bitcoin… but there is no actual way to stop bitcoin or ‘turn it off’, it’s here, slowly absorbing value. Look at the national debt of Japan, China, USA, UK, EU… it’s horrific. All the central banks do is print more while moving interest rates up and down a bit. Move interest rates up and you can curb inflation but at the same time you make your national debt even harder to service, so then interest rates are cut… just a silly game avoiding the inevitable collapse. All fiat currencies have eventually become worthless through history.
The problem is that Japan has to import oil and raw materials and with a weak Yen anything they have to import like that will be very expensive for them. They are in a tough spot.
In germany we have to the same problem... People cant afford many things anymore and especially older people and children are living worser then 20 years ago. Its a shame.. I hope the politicans in both our countries are able to find a solution soon.
I’m so glad I’ve found your channel. I am absolutely fascinated with the Japanese culture. I deployed to Japan in 2020 and spent 7 months in Okinawa and a base in Gotemba, Japan. Even back then I noticed how “cheap” everything was for us. I am starting to learn Japanese now and practice Iaido at a local dojo near me. I plan to hopefully visit again soon. I am sorry for what is happening within your country and I hope your CZcams channel takes off so you can start earning some money through your channel. Wishing you the best, Stephen Edit: JUST BOOKED MY FLIGHT TO JAPAN! I am very excited and will be visiting Kyoto.
Yes, It looks bad if your traveling abroad but in reality your currency devaluation will really help your economy and to also export products made there. It's not all bleak only if you do a lot of traveling abroad. Part of it is also that the US has really high interest rates which is also part of the problem which makes it more attractive to have US deposits in US Banks. This wont last forever. Interest rates will drop by the end of the year which could help the yen out so that's on the horizon.
On the contrary, with the influx of tourist spending their dollars in Japan, soon your balance of payment will improve and the country and the Yen will recover. Tourism always bring in money, lots of money, but your Govt must deal with the unsavoury tourists. In other words target the big spenders and get rid of the rude trouble makers. As a foreigner, I can tell you that many people wants to visit Japan because the culture and the people are so polite and peaceful. You need to maintain that.
I live in Canada and all the foreingers here are the ones who buy nice houses and nice food, all of us born in Canada can't afford to go to mcdonalds or buy a home. Only the rich foreigners can afford to move to Canada.
Unless you are standing in line at a soup kitchen for hours every day with holes in your clothes and shoes, then no, you are not going through a great depression.
@@thadtuiol1717 Not everyone ended up standing in a soup line in The Great Depression. Some had money, some had farms, some had fishing fleets and various businesses. Some were in the military, and the military takes care of itself. My mother's father was a Colonel in the army, and they lived "on post." She said they never felt the depression years. But, regardless, back then most of the very poorest had homes to live in - some were shacks. Few lived in tents, which has taken over America. The homeless situation wasn't as bad, I don't think. But yes, we have many who stand in line for free meals all over America. We have tens of thousands going to food banks which didn't exist in The Great Depression. Both scenarios meet the definition of a depression. When more and more people are hungry, homeless, without work and without money, it's dire. And many countries are having their own version of The Great Depression.
I just came back from Japan 2 weeks ago, I wouldn't say the average food/meal price in Japan was that cheap. Probably 10~20% cheaper, not more than that. From Australia.
The United States values Money. I am Mexicano American which we are called Chicano .. People who live in Mexico are much happier because family and friends are more important than money. My white friends who go to Philippines , Vietnamese , thiallinad and bring back their wife’s. After two years, they want money. The poor guys get divorced. Americans value Money Must important.. Just being honest.. Frank 😅
That’s a very massive generalization of 350 million people lol. I’d say you’re right to some extent but there’s many people in USA who I have met that value family over money. Anyways best of luck to you on this journey of life.
You mentioned there is no way to fix this but I have to disagree. You need to throw the US under the bus and become an independent country. China, South Korea, North Korea, Russia are not your enemies. The US is imo.
It's the same situation in my country in Europe, brother. The fact I feel lucky to have been able to buy a house seems wrong. Being able to buy a house should be affordable to any working man. It shouldn't depend on the economy allowing it at a specific time.
Japans decline will not stop here. The issue is the younger generation is not wanting to work factory or fields and they are not having babies. Japan will be destroyed economically over the next 30 years. There is nothing they can do. Japanese women want to be independent and are not getting married. Its a disaster.
That's what would normally happen in any economically advanced country. The difference is Japan government wants foreigners to visit it only for vacations, while other "industrialized" countries welcome tons of immigrants.
Most people are experiencing hard times. Saving money is a virtue becausing living beyond one's means will always lead to disaster at sometime in the future.
Keep it up. It is good to see and hear your perspective on what is happening. I live here in Japan and can see how things have been deteriorating. Unfortunately Japan's debt to GDP ratio is the highest in the world and the government seems oblivious to this issue and seems to have no good solutions. Some Japanese exporting companies will do well in this situation of weak Yen but importers will struggle and the prices will start to go up for everything. It is funny but If a person saves money in the USD, they can get 10% on 1 month time deposits (annual rate so 1/12 of that in a month). They can roll it over each month and if the Yen gets weaker, they can exchange back to Yen and get a big benefit. Is that what the rich are doing in Japan these days? I am sure some people are doing that. But as for the bigger picture, will Japan ever become a truly independent country? Will the education system ever change to teach young people to be skeptical and have their own opinions? These are topics you could also cover.
The Hong Kong dollar is one of the few currencies still pegged to the US$. Therefore the Yen will also be at a 34 year low against HK$. So my guess as to why Hong Kong is the fifth most popular destination for Japanese people must have something to do with the short travel time of 4.5 hours, therefore cheaper than going to other destinations.
In Hong Kong there’s no import duty on many things, including designers’ items, unlike Japan. Also food and transport are generally inexpensive in Hong Kong compared to Japan.
Not easy to promote child births. People prefer to follow the long-term outlooks than receiving short-term incentives. By the way, Japan is not a poor country but just in the stage of decline from being so powerful.
It's not just Japanese... It's the world over... The working class are getting poorer ... I was in Japan for the past couple of weeks including golden week. I was there 4 years before. It was noticeable the inflation, especially the alcohol in restaurants. I think it must have doubled in price at least. Here in Australia, you cannot afford a house unless you have rich parents. In Sydney the median house would be at least a million while the average income is way less. You really cannot even save for a deposit. Eating out is also very expensive along with every other living costs.
This is normal Macro Economics Equilibrium of world economy. As more countries get more developed everything starts to equal out. Perfect example is the US in its economic height post WW2 cause every industrilized country was flatten only the US produced. Once others started to produce the US looses that production which was the 70's. Same has happened to Japan, where Japan's economic height was the 80's. Currently we are seeing this with China, their peak was the 2010's.
Our cost of living is high in the UK but the good thing for us is when we travel our currency is stronger in most places. I dread to think what it’s like for people from lower currency countries. It makes everywhere so expensive for you.
Becoming poorer and poorer is a worldwide issue sadly. There is tons of reasons but ultimately I think the middle class is dying and frankly it is really depressing when growing up you were told hard work promised you good money and a nice family but that is definitely not the case now and reality hits like a shinkansen. Good luck sir
My cousin in the marine and one of my co workers keep telling me how cheap stuff is over there compared to the US and my co work told me it was so cheap he went to Japan twice in one year
Yes I am totally agree with you life here in Japan is getting difficult. Salaries are not increasing and the common goods or foods are getting very expensive. Anyway I lived here in Japan for more than 24 years.
Just found your insightful channel and subscribed to it! Could you show any insights on how Japan was like before 2008 GFC? Last year I went to Japan and things were not as wonderful it appeared back in early 2000s
It's simple, the Bank of Japan is Keynesian economics on steroids. They've kept interest rates at near zero or negative for twenty years or more by printing currency, which devalues the yen and increases the national debt. Now the government debt stands at $13.4 Trillion (300% of GDP) which is really the debt of the Japanese people, and works out at $107,000 fro every man, woman and child in Japan. When the yen/dollar exchange rate reached 160 they dumped US treasuries and bought yen to lower the ratio but it's rising again and they can't keep doing that for long, so it's either let the yen crash or increase interest rates and let the housing market crash.
Very interesting. One should remember that during the Japanese golden 80's, the Yen was also valued low, at 200 yen/USD. It might be that the yen need to be this weak, to restart the economy? What would happen to exports if the Yen was at around 100 to the dollar?
Please excuse me if this is going to sound nationalistic, but please understand that it's not my intention. Coming from a person from a third-world country whose country is slowly improving, even I can feel that the whole world is shifting. One good example is that more of my countrymen are now able to afford to travel overseas and they choose fellow Asian countries because our currency is still weak. Is it a good thing or a bad thing? That I cannot say. But one thing I do know is that if one country rises, another country must go down. Japan used to be one of the "factories of the world" after WWII which gave it rapid growth. But once Japan became a "rich" country, it could no longer sustain being one of the factories of the world due to production and labor costs, causing investors to shift to other countries like South Korea and China. And ever since then, Japan has been slowly getting poorer year by year. I believe South Korea and China are going through the same thing (but China seems to be doing it faster compared to all 3 countries). I can still remember the time when South Korean phones were still cheap. Nowadays, it's no different from iPhones. China phones are now at mid-tier prices, but they have premium phones that are no different from Samsung and Apple when it comes to prices. I'm happy that my country is improving, but at the same time, I also know that our improvement is at the cost of another country. And the people who feel these changes the most are the normal and average citizens of the each country. I really wish that all countries in the world could rise up together and have high and happy equal standards of living. But I know that would never be a reality.
A large part of the reason for this is that interest rates are now higher in the US and other countries but in Japan they are still very low, so people want to move to those other currencies to get higher interest rates in their bonds and savings accounts. In the US it is easy to get 5+% interest rates now with government bonds or even just a savings account at a bank. The exchange rate actually was fine before that, even despite the economic stagnation in Japan. I think it will mostly go back if the interest rate gap reduces again. But I think the US is not going to cut rates in the immediate term. Another thing to note is that the Yen has gotten even weaker than it looks because the US has experienced higher inflation than Japan in the last several years by quite a bit, so wages in terms of USD have gone up a lot more than wages in Japan have in yen.
Obviously because they need the liberalism that made them grow in the 70-80s, Japan's government has become too interventionist to not let the old big companies die to provide 'stability' (more like stagnation). And workers stay in the same company for decades
Thank you for sharing, America may face a similar problem... I watch a channel "Uneducated Economist" and he is constantly discussing the Cantillon effect, which is a type of money exchange thought-experiment that explains relative advantage of economies and their cyclical nature of ups and downs across very large time spans. In my opinion, government intervention and advantage taking of free markets caused this problem, and I don't know how to solve it without stopping the fake stimulus and letting it collapse back to increase the relative advantage
30 years of recession can’t improve Japanese situation, your country needs more workers and more jobs for add fuel to the economy, so only one solution is attracting more foreign specialists and direct more money to businesses growing.
Everyone everywhere thinks things are bad, but some are certainly worse off than others. I live in Japan, but also have a home in America, and spend time in both places. From my perspective, things are going much better in Japan than in America. Japan has seen half as much inflation as America, and Japan hasn't seen the huge surges in crime, violence, addiction, homelessness, and other social ills which have hit America. A meal at a Tokyo McDonald's now costs about half as much as the same meal in small town America, and Japan hasn't seen housing prices rise beyond the reach of ordinary people. I have kids who go to school in Japan, I will not, under any circumstances let them attend school in America, where the quality of education is s**t, and where drugs and violence are much worse issues than when I was a kid going to school in America. From the looks of it, your CZcams channel is growing nicely, is getting decent views, and which should be providing you at least a few hundred dollars per month in revenue. CZcams gives Japanese creators the option to be paid in dollars, which you should choose. If you keep at it, your channel can be a good platform for other products or services, so keep it up.
I went to the UK for the first two weeks of March. I could only do that because I could stay with family. I had wanted to buy some UK size clothes while I was there but gave up because it was just too expensive. The only thing I bought was an L size Uniqlo shirt 😂 it’s a good fit but it cost me at least 50% extra than if I had bought the XL equivalent in Japan.
Please continue making your content. It gives us a perspective for the normal citizens of Japan that isn't click bait or shock content. You give a realistic perspective of Japan life.
that goes double for me
true that
What do you think guys, does it make sense to to move to Japan now being a foreigner? Will there be some perspectives for foreigners now?
@@QuadDamage-tt7sj I honestly believe it is probably the best time within the next 6-14 months to move to Japan. The Yen is at an all time low and globally there is an entire generation of people whom are absolutely fed up with the status quo, and I believe that extends to Japanese people in some aspects.
I believe in the next 10 years we will see massive change in terms of the global economy as well as Japans “desperation” to encourage younger people to have children. Big changes are upon us and it would be wonderful to be a part of it in Japan.
I’m curious to know which countries who are part of G6 are doing well and who isn’t. The U.S. has definitely suffered here due to inflation especially the housing market and cost of food.
this channel is priceless. You got the sentiment of the average japanese citizen in plain english and straight from the source. Just like having a conversation with a friend . Thank you for the content.
I used to spend 25$ a week on food now it's about 100$ a week. I am not paid 4 tines as much
How did you spend 25$ a week??? That's about 3.5 dollars a day and that would only give me 1 meal a day. Does your employer provide 2 meals?
In what year span?
For $25 a week, what were you surviving on, pot noodles? I would spend that much on one meal.
I spent 200$ this week because I pay for food my nephews and parents. I'm single thou
Its the same in UK. 2,3 years ago, with 40 pound i buy food for almost 2 week for me and my girlfriend. But now we spending 100 every weekend, buyng almost same stuff...?! I m realy scared to go shopping.....
People in the USA can't afford to eat at restaurants in the USA either 🤣
esp. not with that tipping culture nonsense. turns going out into a guilt-trip. no thanks. take me back to Japan please
@@tvcomputer1321 tipping does not bother me and i have no problem with it when i visit the USA, the entitled youth with the cow piercing under the nose are what i have problems with
Not with 30% tip on top of the exorbitant menu prices.
@@popNdawgWhat part of the US did you visit? I've lived here all my life and have yet to encounter one of these people.
@@caveteethjoe I too have lived here all of my life. I do believe they were referencing the eclectic people you can find more commonly on the coastal states (California, New York, Florida, etc.)
Not many Japanese visit us in Australia anymore. However on the other hand there are ever growing numbers of young Japanese working holiday makers who can earn AUD$23-30 an hour or more in hospitality, retail work and farming compared to around 1000 yen / AUD$10 back home. Employers love them because they’re so polite and diligent and we have countless Japanese restaurants which is a good place to get started before branching out and doing a bit of sightseeing.
I thank the Japanese people most sincerely for producing some of the best cameras, cars and Motorcycles in all the world. Our companies got completely sloppy and greedy and just took total advantage of their customers till you great people stepped in and turned this totally around. That forced our companies to try to do the same.
Thank You
in video games , japanese also became sloppy . with konami stop producing AAA games .and sega also considered on doing it
I really appreciatw by the wonderful Japanese influence on the lives of myself and fellow Australians. For example, Japanese food in is very in healthy, beautifully prepared and presented. Also Japanese cars have been a wonderful means of transport. I have personally owned and driven several different Japanese cars. My favourite was a Toyota Camry station wagon. I could go on and I am sure many agree with me.
The Japanese people are great but I don't believe slobbing all over their corporations knobs is the answer. They had bailouts and cheated the system as well, before us in the 90s. It's why people in Japan have to work 12 hours a day. To dig themselves out of the hole their banks and corporations dug them into.
@@Tascountrygirl It's people like you who betrayed the Aussie manufacturing industry. Traitor.
plaza accord fucked us over
KEEP GOING keep uploading your channel is going viral - keep posting good videos dude. It will pay off your mortgage.
He`s correct...post. Lots
His will become more popular after that his leadership at work might know about him and his content. What he is saying here isn't typical for japanese employees. They might laid him off (they will find any reason why). Once he gets laid off it would be horrible. That is worst case scenario
Foreign tourists may be having a blast, but when Japan imports 60% of its food, all of its fuel ect it’s devastating for the locals.
We're getting poorer in the US, as well, but for different reason. Our prices have recently risen so much, we can't afford to eat out anymore, or go on road trips within our own country. Our grocery bill has nearly doubled in only a few years. Middle class families can no longer afford houses. Our incomes are still rising, but not fast enough.
only minimum wage rise. middle class incomes are just staying the same
I'm a poker player in Los Angeles and recently I noticed many Japanese people in the poker room. I talked to some of them. They live in share house and are remote workers in Japan. They stay for 3 months to play poker and then go back. They do say everything is expensive in LA but it is easy to make money and save it. They say they can make one month salary in just a few days.
Interesting, would be nice to live that lifestyle for a while...
Hawaii has many Japanese immigrants who own property here. Lately many of them have sold their property and moved back to Japan with the favorable dollar to yen.
Good idea short term but not so much long term lol
@@sirmon3175 Japan needs to increase its population, bringing back overseas Japanese citizens will help.
As you describe it’s a crazy situation but we shouldn’t forget that tourists are happy for the few days they are in Japan, but as in my case, I return to an Australia where a can of cola may cost $5 and no young person has the chance to ever buy a house…. Who is actually poor?
We're all poor, that's the tragedy. Nobody wins in this global competition, except those who own the corporations and banks, because they are able to move assets around the world and dodge taxation.
@shrunkensimon well everyone but a very select group are obscenely rich and flaunt it.
Everyone is poor, point blank, except for the select few though. The local and national economy of Australia and Japan are incomparable anyways. By your logic, where do the local people go then?
@@kay-no After living in Japan for 35 years I seem to have found a few places.
@@GK-up6xzyou’ve lived in Japan 35 years, and you’re asking “who is actually poor?” Make it make sense please. Japanese middle class citizens are struggling to make ends meet, just as, I imagine, they are in Australia. I am confused on your original take. Did you mean that the bright side is foreigners can have a grand time while citizens are unable to afford things?
I used to live in Japan. Yen devaluation makes me sometimes think if it is the right choice. But I really have to come back. There is not any better place on this planet than Japan.
What do you like about it?
Just earn money in a different currency like the dollar or euro and you'll be fine...
It’s going to get a lot worse and not just here in Japan. Best to hunker down and curtail your spending.
True, thanks
Just back from Japan.. it is true that things are incredibly cheap there...
Don't let you guard down. It true it's cheap but they are willing to charge non Japanese people even more
@@gaalxystar1873 I don't believe u..Japanese people are not racists as Americans
Im late 40s and stopped going out many years back when my kids were born and I didn’t ever feel lonely back then, as they got older and started to move out and started their own lives it hit me like a sledgehammer and bam, lonely feelings. Now I look back and I’m glad I spent those Friday nights and Saturday nights in with them as work during those times was brutal. I do wish I worked less but I feel we did good raising 2 kids who will do great things and are amongst the first in both sides of the family to go to university. Your videos have really touched me and as now I have more time on my hands have inspired me to start streaming the games we play, as all of us are gamers at heart. I dug out my ps2 and ps1 games yesterday and had a blast so thank you for making me feel less alone since I found your channel.
The US is getting poorer for the most part as well. The rich are getting richer, of course, so the statistics are skewed.
The US is poor because the sushi. This is the main reason and then we have the homeless🍙🍙
@@nicolasgirard2808 is that measured in dollars? The cost of living has been increasing more than wage growth as far as I know.
I had difficult times in the US, but found new friends in Bangkok, if only for a night....Sometimes u need to enjoy life to forget troubles
@@happycakes1946 it's in terms of net worth. From 2019 to 2023 the net worth of millennials gained 49%. Now, after inflation that's probably more like a 20 to 25% real gain, but still. People on average did gain wealth over the past few years, the issue is that it was the result of an unsustainable government deficit.
"Japan’s per capita GDP rose from 16% of the US level in 1960 to 154% in 1995. But by 2022, that figure had fallen to 46%, and it is likely to decline below 35% in the future." [Yi Fuxian in "The Chinese Century is Already Over"]
When I studied in Japan 10 years ago it was the opposite. With my euros everything was painfully expensive in Japan.
Here in England, many people have a great deal of admiration and respect for Japan, your people, history, culture and beautiful country. Select, wealthy people here are prepared to pay a ridiculous fortune for “fashionable” Japanese clothes…even “work wear” that garbage truck drivers wear on your streets. That would be “fashion” here! And Japanese hot-forged garden tools is another trendy thing here now. So it’s not all bad news. A lot of highly discerning people love Japanese stuff. The quality. The precision. The love and skill that goes into making them.
StevenLanghorn: What clothing brand is this you speak of?
@@StevenKeery Kyoto work jackets. Niwaki Kojima jackets etc.etc..
Very true, the Japanese have always excelled in manufacturing/hardware but they are way behind in terms of software and emerging tech. I recall in my youth all the Japanese made goods (walkmans, tv/radio, gaming, cars).
I really feel bad for the average Japanese seeing their wealth fade away. Going forward what's the point of even working when the yen becomes 160...165.... 170 to the US dollar. That's how I would feel if I were in that position or figure out a way to leave the country.
Growing up in the 80s and seeing how wealthy and unstoppable japan used to be it's unbelievable to me to see japan in the state it's in. Good luck to you.
Even more incentive to move overseas. More to those Japanese who take advantage of that.
@@-RoyBatty-89 Japan is resource poor, they are one of the biggest global importers of oil and oil by-products. they import a lot of their food and machinery also. very weak yen affects all Japanese. Long term weak yen affects the entire world.
Life is a cycle: up and down. We learn the humility. Bless God that the poverty exists, to make us think!
BTC is the only answer
Yeah, because the US was afraid that Japan would become stronger than the US, so it imposed various unequal treaties on Japan, such as the Plaza Accord, and messed up Japanese industry.
Thanks for sharing your thoughts on midlife in your prior video. I just subscribed a few days ago. It seems I'm not alone in my habit of going out only once every two months and finding enjoyment in something as simple as drinking soda. It's a cheap thrill that I truly appreciate.
Your frank and candid assessment of local concerns and opinions makes for compelling viewing. We appreciate your unvarnished views and observations. Awesome stuff.
Wow your subscribers amount doubled! Congratulations 👍🏽
Weak Yen means more export! Everyone respects Japanese quality goods.
Afroninjadeluxe. Fuji Camera Company have moved production of their X100Vi cameras to China.
I suspect Chinese wages were the deciding factor.
Export what? Their industries have stagnated for 2 decades. Name one TV brand outside of Sony that is still selling outside of Japan. It takes decades of weak Yen to strengthen their companies again, but there are no young people left to work, so...
I laughed at this 😂 Japanese brand doesn’t mean they are manufactured in Japan😂
Outsourcing is everywhere.
Its easy to get fixed up conversion rates..
Japan is one of the best countries in the world when it comes to living standards, health, food quality and so much more. Your nature is beautiful and diverse. To me thats more important than anything
Travelling abroad is overrated. I've been a lot of places. There are very few places Id willingly go back to. Now all the places I want to see are in my own country, Italy or Japan
This is a reality in the US for the average person as well. Issues with the Yen aside, we have cases where the cost of everything has gone up. Value of currency doesn’t matter if everything else goes up with it. I hope all of us can pull out of this sane on the other side.
Good luck to you my brother. I’ll keep following you sir.
Just discovered your channel a few days ago and immediately subscribed. Thank you for your clear and comprehensive views on Japanese society!
I'm an American who visited Japan on a week long vacation this month. I found once you got out of the busy train stations and scramble crossings the country is very quaint, quiet, and pleasant. Anyways, whilst I had been doing my brief trek around Japan it unsettled me how so many other Westerners (North American and European alike) were boasting about how cheap everything was in Japan. So many Westerners do not understand that it's no longer 100¥=$1 or 1€ or 1£, and the fact that wages have only marginally increased since the early 90s. I completely understand the disgruntlement of regular working Japanese today, if one's salary was that of $30,000 a year with the current prices of everything at a Japanese Supermarket I would be outraged. I would have probably have a panic attack. Thank you for the video.
Your videos are so relaxing to listen to. And despite the sometimes serious content, they are positive.
It’s true with the current exchange rates. But within Japan itself, the living cost situation isn’t as bad as many other places
Sir - I thank you for your channel, your perspective and for regularly sharing unvarnished content. Keep up the great work and I wsh you success.
Wow, thanks
I just came back from
Japan - I cannot believe that Japan is now cheaper than
Thailand for food and public transport. Hotel Accommodation is on par …
I have travelled back and forth and worked in Japan on and off for 25 years and this is the cheapest I have seen it. Good post…
Thailand isn't cheap anymore. Philippines Indonesia are.
Not able to vacation in Europe is not a big deal. There are lots of beautiful places in Asia like China. China is huge with diverse climate and spectacular landscape and it's a shame it's not listed in one of the more popular places for Japanese to visit. I suggest it as it is likely very affordable for Japanese to visit it.
Japanese passports need a visa to go to China, which is why it's probably not higher on the list of places Japanese travel to.
I think Japanese generally dislike China.
Due to politics and history, Japanese do not travel China.
I lived in Tokyo in the 1990's and it was wonderful. I'm scared to go back........
its still amazing but you need to consider the economy/work options.
We all are going through similar turbulence, my two cents is to hang on in there and never let negative thoughts overtake you. Live one day at a time, when tomorrow comes then yesterday was just another day.
Well you are sitting duck anyway.
Taxes are too high all across the world. Taxes didn't use to be high like this. Historically high taxes
aging population and pension system =
Like many Japanese people I've met, I noticed from your videos that you explain all your points by sharing concise written notes. It's very easy to understand when the presenter does this, and I'm sure it helps you drive the points across. Thank you.
Most of the world is unfortunately getting poorer. Australia food costs are getting ridiculously expensive and housing is insane.
The Lucky Country my arse
this is such an enjoyable ASMR, a side of what you are explaining -which is quite concerning-.
Hope current situations gets better sooner than expected, many people we do love japan and its people. Best regards
Thank you for making these videos sir! Keep doing what you're doing! Subscribed!
Thanks. I am from France and believe me, our economic situation is far worse. The French national debt is enormous, and most is own by foreign interests... Which is not the case for Japan.
Take care
I think you dont understand economics. but alas....
My son goes to private university in Japan. Annual tuition fee is approx 8000 dollars. Its so reasonable!
But what is quality like!?
This is true in the US as well
its true man, i went to Japan last month to catch the Cherry Blossoms, things are so cheap. Even the Japan rail pass for Shinkansen going up by 70% in prices is cheap. Japanese service and products are extremely high level and disciplined so i think you will not be poor. But its not so good to work in Japan now or live as a local due to the weakening Yen. 15 years ago Yen was strong, things were expensive for foreigners. But at current Yen rates, I would definitely visit Japan again. I had the Hitsumabushi at 3300 yen while my country will charge more than $30 for this dish. I hope the Japanese government looks after the people by more work-life balance and retirement safeguards.
Japan's economy was built on exports but Japan simply isn't competitive any more. And I don't just mean in terms of prices, I mean in terms of innovation and marketing. Look at Samsung or Xiaomi, they are what used to be Sony or Hitachi. Japan is still present in the auto sector and in cameras but home appliances, musical instruments, watches, it's no longer a player. The weak yen might actually help Japanese exports become more competitive but if the problem is lack of innovation and poor marketing than lower prices alone will not help and Japan will slide down to becoming a tourism dependent third word economy.
I live in Shanghai and I've already travelled to hokkaido last year, the hotel prices are rising, plane tickets aren't cheap either, so travelling to Japan isn't cheaper than a few years ago, it actually feels more expensive now since there are so many travelers. Sure many goods in Japan are cheaper, but there are so many cheaper options in China, the Japanese items are still more expensive than Chinese alternatives. Even though many people from rich countries are buying brand goods from Japan, but as Chinese I still think I will not buy brand stuff just to save money and enjoy the trip.
The Problem in Japan is the Hierarchy System. Working 15 Hrs a day does not make more Innovative. People work like Robots.
Thank you, friend
Thanks for your comment
Your voice is so calm, soothing and relaxing. You should create another CZcams channel for ASMR. Which is people making videos speaking like you getting the relaxing feeling by there voices. You should definitely do it for your Japanese audience and English listeners. I would subscribe right away! Great videos and keep em coming. 😊👍💎
Thanks
@@askjapan9669 Your welcome. Go for it 😎
Japan isn't poor because of its weak currency. It's just much more expensive to import and travel. Prices and wages within Japan are consistent unless for imported goods. The Yen was at 358.44 to the dollar at the beginning of 1971 and managed to recover. Japan can make huge profits from exports during this period. The tourism sector will also boom. Time to tide out the storm. It's a temporary phenomenon. Maybe try not to have the doom and gloom mindset. Appreciate your openness and honesty.
All currencies are backed by governmental mafia. They are a myth. They are all globally collapsing into the USA dollar, as they have the most powerful army/navy and the currency is the global currency… however the USA Dollar is collapsing into bitcoin. If you look at the bitcoin chart vs dollar, yes bitcoin gone has gone up a lot… or the dollar has gone down a lot, depends which side you stand on. Bitcoin is your life boat to escape your countries collapsing currency. That’s why governments are trying and failing to control or ban bitcoin… but there is no actual way to stop bitcoin or ‘turn it off’, it’s here, slowly absorbing value.
Look at the national debt of Japan, China, USA, UK, EU… it’s horrific. All the central banks do is print more while moving interest rates up and down a bit. Move interest rates up and you can curb inflation but at the same time you make your national debt even harder to service, so then interest rates are cut… just a silly game avoiding the inevitable collapse. All fiat currencies have eventually become worthless through history.
The problem is that Japan has to import oil and raw materials and with a weak Yen anything they have to import like that will be very expensive for them. They are in a tough spot.
In germany we have to the same problem... People cant afford many things anymore and especially older people and children are living worser then 20 years ago.
Its a shame.. I hope the politicans in both our countries are able to find a solution soon.
I really appreciate these serious discussions from your perspective. Please keep it up. Very interesting to hear
Thanks
Thank you. Enjoyed the video.
I’m so glad I’ve found your channel. I am absolutely fascinated with the Japanese culture. I deployed to Japan in 2020 and spent 7 months in Okinawa and a base in Gotemba, Japan. Even back then I noticed how “cheap” everything was for us. I am starting to learn Japanese now and practice Iaido at a local dojo near me. I plan to hopefully visit again soon. I am sorry for what is happening within your country and I hope your CZcams channel takes off so you can start earning some money through your channel.
Wishing you the best,
Stephen
Edit: JUST BOOKED MY FLIGHT TO JAPAN! I am very excited and will be visiting Kyoto.
Your country is a major part of the problem.
Thank you so much for making this video, I learned a lot from you❤
This channel is much better than that abroadinjapan garbage.
Thanks for your comment
Yes, It looks bad if your traveling abroad but in reality your currency devaluation will really help your economy and to also export products made there. It's not all bleak only if you do a lot of traveling abroad. Part of it is also that the US has really high interest rates which is also part of the problem which makes it more attractive to have US deposits in US Banks. This wont last forever. Interest rates will drop by the end of the year which could help the yen out so that's on the horizon.
On the contrary, with the influx of tourist spending their dollars in Japan, soon your balance of payment will improve and the country and the Yen will recover. Tourism always bring in money, lots of money, but your Govt must deal with the unsavoury tourists. In other words target the big spenders and get rid of the rude trouble makers.
As a foreigner, I can tell you that many people wants to visit Japan because the culture and the people are so polite and peaceful.
You need to maintain that.
wow, so wise
I live in Canada and all the foreingers here are the ones who buy nice houses and nice food, all of us born in Canada can't afford to go to mcdonalds or buy a home. Only the rich foreigners can afford to move to Canada.
真面目なコンテンツに感謝いたします。引き続きなさいますようにお願いいたします。
Thanks for your comment
Thank you for sharing. Many blessings to you.
The UK is also getting poorer and poorer , I think the world is going through a silent great depression.
Unless you are standing in line at a soup kitchen for hours every day with holes in your clothes and shoes, then no, you are not going through a great depression.
@@thadtuiol1717 Not everyone ended up standing in a soup line in The Great Depression. Some had money, some had farms, some had fishing fleets and various businesses. Some were in the military, and the military takes care of itself. My mother's father was a Colonel in the army, and they lived "on post." She said they never felt the depression years. But, regardless, back then most of the very poorest had homes to live in - some were shacks. Few lived in tents, which has taken over America. The homeless situation wasn't as bad, I don't think. But yes, we have many who stand in line for free meals all over America. We have tens of thousands going to food banks which didn't exist in The Great Depression. Both scenarios meet the definition of a depression. When more and more people are hungry, homeless, without work and without money, it's dire. And many countries are having their own version of The Great Depression.
Your English speaking is very good
Don't let your guard down. Japan is willing to create a tier 2 price system where tourists are going to get charged more than locals.
I just came back from Japan 2 weeks ago, I wouldn't say the average food/meal price in Japan was that cheap. Probably 10~20% cheaper, not more than that. From Australia.
The United States values Money. I am Mexicano American which we are called Chicano .. People who live in Mexico are much happier because family and friends are more important than money. My white friends who go to Philippines , Vietnamese , thiallinad and bring back their wife’s. After two years, they want money. The poor guys get divorced. Americans value Money Must important.. Just being honest.. Frank 😅
That’s a very massive generalization of 350 million people lol. I’d say you’re right to some extent but there’s many people in USA who I have met that value family over money. Anyways best of luck to you on this journey of life.
A real content from a normal citizen in Japan. Very interesting !
I eat noodles everyday and save a lot of money )) please keep up the great work, really like your content !!
You mentioned there is no way to fix this but I have to disagree. You need to throw the US under the bus and become an independent country. China, South Korea, North Korea, Russia are not your enemies. The US is imo.
It's the same situation in my country in Europe, brother.
The fact I feel lucky to have been able to buy a house seems wrong. Being able to buy a house should be affordable to any working man. It shouldn't depend on the economy allowing it at a specific time.
Japans decline will not stop here. The issue is the younger generation is not wanting to work factory or fields and they are not having babies. Japan will be destroyed economically over the next 30 years. There is nothing they can do. Japanese women want to be independent and are not getting married. Its a disaster.
That's what would normally happen in any economically advanced country. The difference is Japan government wants foreigners to visit it only for vacations, while other "industrialized" countries welcome tons of immigrants.
@@TheMafuri Immigration won't fix the issue, it will only fuck up the place like it's happening in Europe.
The fed is bent on weakening the dollar as fast as it can. Would bet on a stronger yen but fiat money is gone overall.
Everywhere is getting poorer it seems. In the west, the price of practically everything has gone up exponentially over the last 5 years.
Most people are experiencing hard times. Saving money is a virtue becausing living beyond one's means will always lead to disaster at sometime in the future.
Keep it up. It is good to see and hear your perspective on what is happening. I live here in Japan and can see how things have been deteriorating. Unfortunately Japan's debt to GDP ratio is the highest in the world and the government seems oblivious to this issue and seems to have no good solutions. Some Japanese exporting companies will do well in this situation of weak Yen but importers will struggle and the prices will start to go up for everything. It is funny but If a person saves money in the USD, they can get 10% on 1 month time deposits (annual rate so 1/12 of that in a month). They can roll it over each month and if the Yen gets weaker, they can exchange back to Yen and get a big benefit. Is that what the rich are doing in Japan these days? I am sure some people are doing that. But as for the bigger picture, will Japan ever become a truly independent country? Will the education system ever change to teach young people to be skeptical and have their own opinions? These are topics you could also cover.
The Hong Kong dollar is one of the few currencies still pegged to the US$. Therefore the Yen will also be at a 34 year low against HK$. So my guess as to why Hong Kong is the fifth most popular destination for Japanese people must have something to do with the short travel time of 4.5 hours, therefore cheaper than going to other destinations.
In Hong Kong there’s no import duty on many things, including designers’ items, unlike Japan. Also food and transport are generally inexpensive in Hong Kong compared to Japan.
Not easy to promote child births. People prefer to follow the long-term outlooks than receiving short-term incentives. By the way, Japan is not a poor country but just in the stage of decline from being so powerful.
It depends on wht market u are. Some will get shafted, and for some this has been the greatest decade for a long time.
I find this oddly relaxing. And interesting at the same time.
thanks for your comment.
It's not just Japanese... It's the world over... The working class are getting poorer ... I was in Japan for the past couple of weeks including golden week. I was there 4 years before. It was noticeable the inflation, especially the alcohol in restaurants. I think it must have doubled in price at least. Here in Australia, you cannot afford a house unless you have rich parents. In Sydney the median house would be at least a million while the average income is way less. You really cannot even save for a deposit. Eating out is also very expensive along with every other living costs.
thansk
This is normal Macro Economics Equilibrium of world economy. As more countries get more developed everything starts to equal out. Perfect example is the US in its economic height post WW2 cause every industrilized country was flatten only the US produced. Once others started to produce the US looses that production which was the 70's. Same has happened to Japan, where Japan's economic height was the 80's. Currently we are seeing this with China, their peak was the 2010's.
Our cost of living is high in the UK but the good thing for us is when we travel our currency is stronger in most places. I dread to think what it’s like for people from lower currency countries. It makes everywhere so expensive for you.
Becoming poorer and poorer is a worldwide issue sadly. There is tons of reasons but ultimately I think the middle class is dying and frankly it is really depressing when growing up you were told hard work promised you good money and a nice family but that is definitely not the case now and reality hits like a shinkansen. Good luck sir
My cousin in the marine and one of my co workers keep telling me how cheap stuff is over there compared to the US and my co work told me it was so cheap he went to Japan twice in one year
Yes I am totally agree with you life here in Japan is getting difficult. Salaries are not increasing and the common goods or foods are getting very expensive. Anyway I lived here in Japan for more than 24 years.
Many Japanese people get sick
Same in europe…
Just found your insightful channel and subscribed to it! Could you show any insights on how Japan was like before 2008 GFC? Last year I went to Japan and things were not as wonderful it appeared back in early 2000s
No guitar at the end???
It's simple, the Bank of Japan is Keynesian economics on steroids. They've kept interest rates at near zero or negative for twenty years or more by printing currency, which devalues the yen and increases the national debt.
Now the government debt stands at $13.4 Trillion (300% of GDP) which is really the debt of the Japanese people, and works out at $107,000 fro every man, woman and child in Japan.
When the yen/dollar exchange rate reached 160 they dumped US treasuries and bought yen to lower the ratio but it's rising again and they can't keep doing that for long, so it's either let the yen crash or increase interest rates and let the housing market crash.
Very interesting. One should remember that during the Japanese golden 80's, the Yen was also valued low, at 200 yen/USD. It might be that the yen need to be this weak, to restart the economy? What would happen to exports if the Yen was at around 100 to the dollar?
Please excuse me if this is going to sound nationalistic, but please understand that it's not my intention.
Coming from a person from a third-world country whose country is slowly improving, even I can feel that the whole world is shifting. One good example is that more of my countrymen are now able to afford to travel overseas and they choose fellow Asian countries because our currency is still weak.
Is it a good thing or a bad thing?
That I cannot say. But one thing I do know is that if one country rises, another country must go down.
Japan used to be one of the "factories of the world" after WWII which gave it rapid growth. But once Japan became a "rich" country, it could no longer sustain being one of the factories of the world due to production and labor costs, causing investors to shift to other countries like South Korea and China. And ever since then, Japan has been slowly getting poorer year by year.
I believe South Korea and China are going through the same thing (but China seems to be doing it faster compared to all 3 countries).
I can still remember the time when South Korean phones were still cheap. Nowadays, it's no different from iPhones. China phones are now at mid-tier prices, but they have premium phones that are no different from Samsung and Apple when it comes to prices.
I'm happy that my country is improving, but at the same time, I also know that our improvement is at the cost of another country. And the people who feel these changes the most are the normal and average citizens of the each country. I really wish that all countries in the world could rise up together and have high and happy equal standards of living. But I know that would never be a reality.
A large part of the reason for this is that interest rates are now higher in the US and other countries but in Japan they are still very low, so people want to move to those other currencies to get higher interest rates in their bonds and savings accounts. In the US it is easy to get 5+% interest rates now with government bonds or even just a savings account at a bank.
The exchange rate actually was fine before that, even despite the economic stagnation in Japan. I think it will mostly go back if the interest rate gap reduces again. But I think the US is not going to cut rates in the immediate term.
Another thing to note is that the Yen has gotten even weaker than it looks because the US has experienced higher inflation than Japan in the last several years by quite a bit, so wages in terms of USD have gone up a lot more than wages in Japan have in yen.
So many politicians and economists in the comments 🍿
Obviously because they need the liberalism that made them grow in the 70-80s, Japan's government has become too interventionist to not let the old big companies die to provide 'stability' (more like stagnation). And workers stay in the same company for decades
Thank you for sharing, America may face a similar problem... I watch a channel "Uneducated Economist" and he is constantly discussing the Cantillon effect, which is a type of money exchange thought-experiment that explains relative advantage of economies and their cyclical nature of ups and downs across very large time spans. In my opinion, government intervention and advantage taking of free markets caused this problem, and I don't know how to solve it without stopping the fake stimulus and letting it collapse back to increase the relative advantage
thanks, very interesting indeed. I will check it out
This is good, so I can travel to Japan on the cheap.
30 years of recession can’t improve Japanese situation, your country needs more workers and more jobs for add fuel to the economy, so only one solution is attracting more foreign specialists and direct more money to businesses growing.
Same with the USA The World is changing rapidly God Help Us All!
One world. Same problem
Everyone everywhere thinks things are bad, but some are certainly worse off than others. I live in Japan, but also have a home in America, and spend time in both places. From my perspective, things are going much better in Japan than in America. Japan has seen half as much inflation as America, and Japan hasn't seen the huge surges in crime, violence, addiction, homelessness, and other social ills which have hit America. A meal at a Tokyo McDonald's now costs about half as much as the same meal in small town America, and Japan hasn't seen housing prices rise beyond the reach of ordinary people. I have kids who go to school in Japan, I will not, under any circumstances let them attend school in America, where the quality of education is s**t, and where drugs and violence are much worse issues than when I was a kid going to school in America. From the looks of it, your CZcams channel is growing nicely, is getting decent views, and which should be providing you at least a few hundred dollars per month in revenue. CZcams gives Japanese creators the option to be paid in dollars, which you should choose. If you keep at it, your channel can be a good platform for other products or services, so keep it up.
I went to the UK for the first two weeks of March. I could only do that because I could stay with family. I had wanted to buy some UK size clothes while I was there but gave up because it was just too expensive. The only thing I bought was an L size Uniqlo shirt 😂 it’s a good fit but it cost me at least 50% extra than if I had bought the XL equivalent in Japan.
Scandianvians travel to the UK to shop in thrift stores when they are on holliday. Here they find cool gems and real British atmoshere.