>1986 >Japan becomes 2nd largest economy in the entire world, despite having such a small population on an island with few resources >Larger GDP than almost all of Europe. >Housing market explodes. Limited land, limited real estate as the logic goes. >Nikkei stock exchange explodes >Literal movies were made predicting Japan ruling the entire earth due to its economic prowess.
>1997 >Asian financial crisis hits >Japan NEVER recovers >Nikkei NEVER recovers >Housing market NEVER recovers
Every time a boomer shows me historic figures of the US stock market, US real estate market always going up for the past 50 years, I show them Japan, but they seem to believe this island nation never existed.
Unlike Japan the US doesn’t have limited land though and is basically a zombie kept alive by the petrodollar
Mason Moore
What is Japan I have never heard of it
Chase Morgan
It does in the cities, Japan is no Singapur either
Jeremiah Young
the US pretty much promised to help japan and buy their shit
Brayden Myers
This was because Japan was in an economic bubble and it was never addressed. Their economy was growing too fast at the time, it was unsustainable. China knew this which was why they purposely tried to slow down their economy in the past couple years.
Caleb Cruz
If we move manufacturing to Japan again and gave them a reason to look forward to tomorrow, they’d hop right back into it
Benjamin Jackson
That would change the world
Matthew Davis
when japan gets too powerful, the other asian countries get flashbacks to the 1930s
Parker Martin
why is housing being expensive a good thing housing in north america is only expensive because boomers demand it be expensive for their retirement
Jaxson Perez
Unlike Japan the US doesn’t have homogeneous nation or a low crime rate
Parker Diaz
By dumping trillions of investment into it and encouraging worthless private investment? By what is an essentially enforced 401k scheme to buoy up their internal stock market?
Chinks are dumb as fuck and only ruthless politicla will has kept that house of cards from collapsing, exploding, then the table it sits on from also collapsing.
Because Japanese people literally work until they day, when most on here can't work 40 hours a week without crying like a bitch.
Chase Evans
>when most on here can't work 40 hours a week without crying like a bitch.
>muh 40 hours
Why "work" 40 hours a week when you can find ways of working 10 hours a week so to go off and do other stuff that isn't "muh working tough 40 hours a week"?
Fucking drone. If you didn't have a job you'd not know what to do with yourself.
William Richardson
> In the 1985 Plaza Accord, the dollar was devalued to reduce the current account deficit and to help the US recover from the recession of the early 1980s. It was a managed devaluation and the exchange value of the Dollar versus the Yen declined by 51 per cent from 1985 to 1987 – reaching ¥151 per US$1 in March 1987. The dollar continued to slide till 1988. The effect of the strengthened Yen depressed Japan’s exports and brought about the expansionary monetary policies that resulted in the infamous asset bubbles of the late 1980s. The G-6 countries then gathered in 1987 in Paris to arrest the slide of the dollar and to manage and stabilise the international currency markets. The end result was the Louvre Accord. In the next 18 months the dollar strengthened to ¥160 per US$1.
Hudson Myers
Japan's banks lent more, with less regard for quality of the borrower, than anyone else's. In doing so they helped inflate the bubble economy to grotesque proportions.
The bank of Japan then raised the interest rate of inter bank lending that pretty burst their bubble. The market reacted so violently that for 20 years they have been recovering and still have not gotten to the level of before. They call it....the lost decade.
Andrew Stewart
It's almost as if central banking created the bubble and then popped it, creating an entire nation dependent on credit to survive. Many such cases.
Alexander Evans
Yes except from what I hear it's that they're work so much because it's expected of them. The problem is is that they aren't that productive overall. SO they may work long hours but it's shit you could get done in 8 hours elsewhere.
Josiah James
Did they do it intentionally? What measures they should've taken to avoid such crisis?
wrong. They are at work more but are less productive. Their culture dictates that being at work long = being productive.
I worked on several projects in Japan with Japanese teams and they do barely anything while at work. Sure when deadlines arive they go into overdrive, but they didn't have to if they were following the schedule. It is not uncommon for them to sleep at their desk during the day, or just staring at their screen for an hour before fucking off to the toilet for an hour, and come back after 3 hours doing fuck all just to stare at the same screen again.
Also it is a shit culture of getting things done and move on. Make a change in the plan and every gook manager has to piss over it and have some gook junior work on the revise and come back with the revision just so every other gook manager can piss over it again. Eventually king gook of the company has to come in and say 'hai' to continue wasting many hours because the plan isn't perfect in every detail.
Ryder Ortiz
And because of that it's creating further fucked up generations that are constantly being compared to that Japanese society pre-crash.
Every western country is in an economic bubble because of Keynesianism, it's just that Japan's economy popped first. youtube.com/watch?v=qSYlzxczAY4
Landon Taylor
They did because of the rising bad debt shit that the economists saw. Also everybody and their nigger were speculating with borrowed money. Japan's sun just kept rising until it reached its peak and then this shit happened.
Lincoln Brooks
Japan is a zombie kept alive by their central banks which own the country's debt and keep shitty un-competive conglomerates alive. Most of what Japan still makes is simple stuff, which to be fair they do well, like cars and motorcycles. Their electronics and high tech industry are so far behind the US, China, South Korea and even fucking Taiwan because of shitty work culture and a lack of innovation and start-up culture thanks to said central-bank zombification of the economy.
America basically is becoming Japan 2.0. Stocks and GDP have decoupled. Huge, noncompetitive conglomerates kept alive by the government. Massive debt, but owned by foreign countries and not the central bank. By the end of this crisis, it will be even worse. But America won't "collapse", you'll just see very low economic growth and decreasing living standards due to costs/wage imbalances. Only thing going for the US is its start-up culture, but even thats becoming a parody of itself now.
Ryder Thomas
Austrian Business Cycle Theory (ABCT). The central bank creates the booms and the busts. In the Japs case they created a hell of a boom so when that bubble popped it took out Japan. Fear the boom people because the bust isn't far behind.
Carter Ward
>japan sun kept rising quite the wordsmith.
I hope the japs can recover their former glory, but I don't know how strong are their ties and dependence to the BIS and similar entites.
Anthony Wood
But they are extremely inefficient. Also the way they handle communications inside a company is extremely bad. Same thing in Korea. Any western country is miles ahead in organization and bringing results in less time
Chase Price
They also didn't have a military to worry about. We were their military for a long time after WW2. Its amazing what you can do for your country when war isn't always on the table.
Juan Perry
USA has an abundance natural resources. USA is an importer country. But yes, Japan’s rise was a miracle
Nathan Fisher
yes, however culture has a lot to do with as well. Japan's rigid culture of keeping things the same and not upsetting the balance is what keeps this corpse from dragging on. America has seen its fair share of economic down times but it atleast it has the flex and muscle to climb back again. Europe's issue is the lack of unison and the lack of strong leadership and strong following. China is just not transparant enough. They have a big but poor inner market, but god knows what really happens inside because Mr. Commie keeps a tight rope on any info that comes out. The issue with China is that they are only growing because they are cheap, and they stay cheap because they have poor people. Raise their salary and look how quickly investors jump ship. It is impossible to keep this for long.
You see it now, with the lack demand that the cracks are really obvious.
Adrian Parker
Jesus fucking Christ! Don’t you low IQ faggots thinks anything that’s not related to “muh huwhite” genes and society? Just for once think like a pragmatic rational person. It’s infuriating how retard you sound.
Ryder Fisher
>Huge, noncompetitive conglomerates kept alive by the government. Corporatism. Until that gets dealt with the US is fucked. The correction in the US should have happened long ago. Hell 2008-2009 the purging of decades of bad economic policies should have happened. It didn't though because it would have sucked. Too big to fail businesses fail and they take all their supply chains with them. It's rough.
BUT here's the thing. If you keep propping them up and adding more cards on top it only gets worse each time that house of cards is about to collapse. The US government should be getting rid of the protectionism that currently is afforded to these big corporations. The reason they don't is because of all the lobbying and bribing going on. Government involvement picking winners and losers in a market means massive corruption as well.
Benjamin Johnson
Also, the US is kept alive because China, Japan, and more covert investors like Switzerland don't want to lose trillions of said dollars.
