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© KYODOJapan household assets hit record ¥1.901 tril in Sept as virus slows consumption
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Sh1mon M4sada
Don't forget to count the assets under the futon.
Peeping_Tom
"Overseas investors owned 12.6 percent of Japanese government bonds after they increased their holdings by 4.4 percent to 152 trillion yen, according to the data."
This is why Japan does not depend on foreigners to tell them what to do with their own cash.
Nihonview
Assets held by Japanese households hit a record 1,901 trillion yen ($18 trillion) at the end of September, up 2.7 percent from a year earlier,
Which means Japan has $18 trillion in bank. Not bad.
kokontozai
I think English translation of this article is not accurate. "Assets" should be "financial assets". I think most Japanese understand saving money is not good for economy, however, it can be helped, considering their long post-retirement period and many natural disasters. Anyway, as household financial assets in Japan are mostly held by the elderly generation, the Japanese government may earn huge inheritance tax in the near future.
Spitfire
Man,all of that cash held mainly by seniors who only pay 10 or 20% of their medical bills while the most impoverished younger generations have to shell out much more.All the senior discounts and freebies that are on offer just to win votes is appalling.Most of the current boomer generations didn't have to go through the hardships of the post war period but they could enjoy huge bonuses during the bubble era something the young will never experience.
kurisupisu
Even though I am in Japan, my income is generated outside the country...
SandyBeachHeaven
Have seen too many family members and friends die and get sick in the last year and a half, that I am spending money like crazy. Fun and worth it.
Cricky
I need to move..not in my neighbourhoods.
Septim Dynasty
The deflationary death spiral continues.
That's how funny magic of money coming from. Japan owes itself much to the patronage from the FED and the USA itself.
70-80% of Japanese assets, both private and national, are now held outside the country. With no power to project your overseas power like China is trying to do now, then there is a high chance that Japan will lose it all. The case of South Korea is a prime example of such that invoked an East Asian trade war.
If it is fiat currency, then it is essentially worthless. If it is the Yen, then it is even more worthless. I assume this case is in the world of apocalyptic proportions like Bronze Age collapse or Mongol invasions.
Only gold, self-defense power, food and water, technologies will thrive in this case.
There is a chance that inheritance tax won't solve the issue if all old farts died sooner due to Covid-19. Japan's manufacturing power is dwindling, while its technology sector is not on par with China and South Korea. The country's last stick is to manufacture high-quality products for Americans, and other Asian competitors are sweeping in. The Lithium-Ion Battery is a prime example of how China and South Korea kick Japan out of this high-end game for the American markets.
As long as structural issues remain unsolved, Japan can't get out of the death spirals.
Essentially, turning oneself into North Korea.
I don't see one person in the world uses the Yen to spend money outside of Japan.