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Inflation, weak yen hit appetite for holiday spending in Japan

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The simplest way of putting it is that the average Japanese person has no more money to spend and a population decline of 1 million a year of course can not be ignored either. No matter how hard government lies.

the ruling minority continues to impoverish the rest of the country.

Japan is lost as an economic power

-7 ( +25 / -32 )

Wages refuse to budge and the concern for their exporters is putting pressure on everyone else. So while I’m so glad that shareholders of those export led companies see some benefits, it is not being felt by the majority of people.

12 ( +26 / -14 )

Spending - the government's favourite metric.

You can only squeeze so much out ot a (broke, minimum wage) lemon.

We have some serious underlying challenges :-(

9 ( +24 / -15 )

Nippon is just like the Titanic - on its way down to a bed of murky inescapable sludge.

However, there will be a last gasp grab at a breath by way of immigration.

Already, there have been subtle and not so subtle hints at what will come in 2025-2026.

The government has also tested the citizens’ mettle and found no serious discourse over the myriad scandals that have occurred.

Next is to displace the elderly from their homes and hotels as has happened in Germany, the US and the UK et al.

It’s coming….

-21 ( +6 / -27 )

And now cue the government clowns who will wonder why people have the gall not to spend more and sacrifice for the economy.

-2 ( +13 / -15 )

The survey covering 5,000 people aged 15 to 79 was conducted between Nov 24 and 27

Even to just get back OBVIOUS feedback, they couldn’t even try to do it this month?

They had to use 5 week old information?

At least make an attempt to be current.

-4 ( +4 / -8 )

The last thing we need to do it trust the government. Not only in Japan. They should have taught that in schools, what a surprise they are mostly government run. Be good at something and make money. Inflation will continue.

1 ( +5 / -4 )

It is time for a 21st century "Meiji Modernization" to remake the entire system to stem the slow slide into poverty and destitution.

-6 ( +2 / -8 )

I'm in Europe at the moment, inflation has hit the average Joe very hard but people still spend more than a measly 45.000 yen. Prices have gone up by 100 percent or some products even by 200 percent compared to 4 years ago. You live only once mentality makes people spend

5 ( +5 / -0 )

Japan has the lowest PPP per capita of all G7 countries and is now lower than both Taiwan and South Korea. According to the IMF the GDP per capita is a staggering $28,000 a year lower in Japan than the US. Over a lifetime of work, Japanese are poor country mice.

The starting salary for someone with a bachelors degree in Japan is less than half what it is in the US.

A middle class home in Japan would be considered a low income shack in the US.

The best selling car in Japan is the Toyota Yaris which sells for less than half the price of the best selling Ford F-Series pickup truck in the US.

Although a few people in Japan are doing well, Japan is poor and getting poorer.

-8 ( +5 / -13 )

"Japan has the lowest PPP per capita..." What is PPP per capita? Would the Japanese people be considered wealthy if they all drove around in America's "best-selling Ford F-Series pickup truck"?

4 ( +5 / -1 )

Inexorably and with finality Japan is becoming poorer-this is a trend that started in the nineties and has not been remedied since.

The recent worldwide belligerence and poor health policies and nuclear mishaps notwithstanding, Japan is year by year going from bad to worse.

Being physically present in Japan and knowing many Japanese, recourse to media is unnecessary to enable a personal opinion but (out of many) here’s one established and respected company for those outside the country.

https://www.cnbc.com/2020/07/03/japans-middle-class-is-disappearing-as-poverty-rises-warns-economist.html

-6 ( +1 / -7 )

@3RENSHO PPP is Purchasing Power Parity. Basically PPP compares a standard basket of goods and services in local currencies between countries or how much people can buy with their disposable income. Americans can buy $28,000 of goods and services per year per person than people in Japan. It translates to people in Japan not being able to afford to buy $60,000 vehicles, homes that last more than 20 years, family trips to a resort for a week over the holidays or food and energy to run their A/C in the summer.

It means a significantly lower quality of life.

-2 ( +2 / -4 )

A middle class home in Japan would be considered a low income shack in the US. 

The best selling car in Japan is the Toyota Yaris which sells for less than half the price of the best selling Ford F-Series pickup truck in the US.

Homes in the U.S. are absurdly overpriced, especially in cities like LA and NYC. Cars are also overpriced, and prices don't reflect quality. People in the U.S. are also becoming poorer, and those in their 20s and 30s have frugal lifestyles. Your metrics are flawed.

5 ( +6 / -1 )

@Mark Here is a link to real estate listings in Indianapolis. Compare the prices for what you get to somewhere like Kobe. https://www.realtor.com/realestateandhomes-search/Indianapolis_IN?cid=sem_20039855484_153713926937_681720900227:G:s&s_kwcid=AL!15120!3!681720900227!e!!g!!indianapolis%20in%20real%20estate&gad_source=1&gclid=Cj0KCQiAv8SsBhC7ARIsALIkVT3dD8ZRFNblClAfvQqMrTTkOfNCNXD9HqF21MITEMJPRtasZd9Yy-0aAnLaEALw_wcB&gclsrc=aw.ds

-3 ( +1 / -4 )

@proxy Thank you for that clear explanation.

0 ( +1 / -1 )

I noticed that Christmas lights outside homes pretty much disappeared this year.

I know it's not a biggie but people cutting their electric bills?

0 ( +0 / -0 )

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