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02-12-2009, 12:50 PM
I see exactly what Nyororin sees- that is, a big bunch of nothing. And when I do hear people talking about it, they usually talk about how glad they are they saved, or glad they didn't get that credit card, or how glad they held off on buying the house, etc. Japan was MUCH more prepared for it.
Now that is talking about people in professional jobs. Southeast Asian and South American workers brought in for unskilled or dangerous manufacturing jobs have seen thousands of layoffs. But where I live, I only hear relief at dodging the bullet. Don't be that worried about jobs. Kyoto prefecture has decided it needs MORE ALTs not less. I believe my local BoE will be adding at least one more full-time ALT position in April, and possibly more. As the government searches for ways to invest with stimulus packages, be prepared for Education to get some badly needed funds. 
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02-12-2009, 01:02 PM
I do think the bad economy is hitting some Japanese businesses - small and large. You need look no further than the list of bankruptcies and layoffs in the Japanese news to see how the big companies are being hit. As far as small shops, take a walk around Shibuya, Shinjuku, or Harajuku to see how many shops are empty - some of which had been around for a long time. I wasn't in Japan during the burst of the 80's bubble, and I'm sure it's not that bad now, but I do think this is a bad time for some businesses.
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02-12-2009, 01:46 PM
I can't complain about the exchange rate when it comes to travel, but I can complain about a few other things. First, exchange rates are usually transferred to the cost of goods being imported and exported. With the current exchange rate, goods imported from Japan into America have become 16% more expensive. The inverse should be true, American items should be 16% less expensive than they were a year or so ago, but that hasn't happened.
For instance, an Ipod costs 25% more in Japan than it does in America. I wanted to buy a pair of Bose QC headphones, but found that they cost than $100 more in Japan than they do in America. Japan has not lowered the prices of any imported goods to reflect the changes in the exchange rate. Another amazing thing is the cost of televisions. A Sony LCD television costs at least 1/3 less in America than it does in Japan. I have yet to figure out how they are able to do that, being that the cost of shipping must be included in the price of items shipped from Japan to America. I wanted to by a new Nikon flash unit for my camera. The price in America is about $219, the price in Japan is 32,500 yen (about $350). It's amazing that Japanese products cost more in Japan than they do in America. End of rant.
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02-12-2009, 03:09 PM
Quote:
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02-12-2009, 05:16 PM
I know at least 10 people at IBM (Japan) who were laid off during the last few months.
Unfortunately, I don't think Japan has seen the worst of it yet. The layoffs are just beginning to happen as Nissan, Panasonic, NEC and Hitachi just announced a combined total of 60,000 job cuts... so far. Of course this number is worldwide but it doesn't take away from the fact that the increasing unemployment rate is already at a 40 year high. People who are unemployed cut down on spending which in turn hurts the retailer which in turn eliminates more (retail) jobs. It's a downward spiral which is just starting to gain momentum. One thing the Japanese have going for them is the fact that they're a lot better with personal finances than the Americans who love using credit. It'll help soften the blow but ultimately, the US economy will have to recover before Japan has any chance of recovery.
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02-13-2009, 10:24 AM
The Dow is below 8000, energy prices have more or less bottomed, real estate cannot fall much further. Retail sales in January were higher than expected (I expected they would be, due to bargain sales), and unemployment figures were not as bad as expected. Things are bad, but not as bad as some people thought they would be.
The world's banks have to get themselves settled and find out where they stand. Once they do, the economy should begin to recover. Unfortunately, I think 2009 will not be the year that this turnaround happens. I'll start putting my money in the markets again next year.
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02-25-2009, 03:12 PM
So as of yesterday, you get for you 1 USD you get 96 JPY. I dunno what to do, by time im ready to travel the rate could be anything
 After my first post and feedback i received from everyone in here i kinda changed my plans. Now im planing on visiting the Philippines. I wouldn't need much much for a month stay there, maybe just like, $1,000 $1,500 or more if i wanna live like a god. lol
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