Nikkei Powers to Japan's 1990 'Bubble' Era High

Channel News Asia ^ | 19 May 2023

[nickcarraway]

Japan's Nikkei share average rallied on Friday to the highest since August 1990, the country's so-called "bubble" era, driven by a confluence of positive factors from strong earnings to optimism over a U.S. debt ceiling deal.

The benchmark index jumped as high as 30,924.57 shortly after the open, on course for a seventh straight winning session, after smashing through the psychological 30,000 level on Wednesday for the first time in 20 months.

The broader Topix, which had reached the post-bubble milestone on Tuesday, extended its climb to as high as 2,171.37.

[nickcarraway]

To those of you who think that we should keep rates very low for a long time, here you go, 30 years. Even now, the Fed isn't lowering enough.

[montag813]

Funny how everyone on Twitter is always saying how the Japanese burthrate is disastrously low and they must bring in immigrants. Meanwhile they have the highest productivity in the world and more automation than any other nation except Korea, so why the hell do they need 3rd world scum?

[nickcarraway]

First of all, I don’t think you need to call them scum. Japan had a lot of amazing things with their economy. But they made a huge mistake with their interest rates. And the bottom line is they are committing suicide as a society. An they have a much more populous neighbor to the West that would love to take over.

[montag813]

Just look at some of the videos from UK, Ireland, Sweden, Germany, etc. Yes. Scum.

[sushiman]

An（ｄ） they have a much more populous neighbor to the West that would love to take over.”

China has no desire to “ take Over “ Japan .

[poconopundit]

I agree with you, sushiman.  China is not going to take over Japan.

I'm not a economic analyst, just an American who emigrated to Nippon 6 months ago and and hopes to retire here.

My own hunch is there is plenty of upside here as long as the world economy improves and an era of peace returns. Here are my thoughts -- and would love to hear other FReeper perspective yea or nay.

A Strong Republic and Economy -- You have to be impressed by Japan's level of automation, city planning, transportation (good mix of autos and trains), very little crime, hardworking & educated workers, a better than average citizen's health, in terms of food, sports, and affordable health testing/patient education, and their hospitality to customers and foreigners.

Energy -- There are practically no fossil fuel sources in the country.  So Japan is forced to buy from the Russians now that Bidung has severely curtailed U.S. oil production.  Stopping the Ukraine war will help a lot.  Putting Trump back in the White House will help even more...

Construction & Home Building -- Japan is the master builder of earthquake-safe city buildings and well-designed modular (though smaller) single-family homes whose sales seem to be booming as suburban (or maybe semi-urban) Japan grows.

Tourism -- China put a big hurt to Japan when they released the Covid virus.  Indeed, back in 2019 almost 10 million tourists from China (mostly well-to-do Chinese) came to Japan (see the chart).  Korea, Taiwan, and Hong Kong make up two-thirds of the tourism market here.   And odds are that business will come back nicely once the global economy recovers.  See chart below.

The Automobile -- I gotta believe the U.S. economy and Bidung's crazy and failing push to electric cars has to end soon.  And that will allow frustrated Americans to buy the kind of ICE and hybrid sedans and SUVs that Toyota, Honda, and Nissan excel in manufacturing.  The local market is close to 50% hybrid now -- but that's prudent given the high cost of gasoline.

Population -- Is a lower population in Japan that much of a concern?  Seems to me we're on the verge of greater automation era and AI/Machine Learning.  America's population is growing, but I think the lower economic classes are the ones whose family sizes are growing the most. Immigration -- I read a comment on this thread talking about the threat of "immigrant scum" coming into Japan.  Here I can claim some first-hand knowledge.  My wife (former Japanese national) submitted no less than 100 pages of documentation (detailed forms, photographs, bank records, you name it) to get approval to emigrate here.  This is a country that really cares about the quality of immigrants they let into the country.

Medical Innovation -- Just yesterday we joined 15 retired Japanese for an auto trip into mountains to see the flowering dogwood and azalea trees in a public park.  The driver of the van was a retired Toshiba engineer.  And he runs a small business that sells and services used Japanese-made cat-scan and MRI machines to countries in South America and Asia.  With steady demand for the latest medical machines, there's a lively market for second-hand high end medical machines.

Separately, I recently had some stones removed from my bladder and so I got to see the Japanese hospital system u[ close.  In prep for my non-invasive operation, a matter of only two hours I was whisked through several different tests, x-rays, etc.  That morning, this teaching hospital must have processed 500 patience. It was a very efficient, factory-like production.

So these are my quick thoughts.

[V K Lee]

Kudos to the men and women who take the time
to stop and ‘smell the roses’. In these troubled
times, even more meaningful. Economics fly over this
head, but do realize the difference between
great and poor.

Just asking, the ‘common people’, their feelings
regarding our WH resident? His policies?
Are they freely discussing this with you?
It seems in their nature to be so polite,
little would be mentioned as to true feelings.
Anyway, have a great time and good weather.

[Candor7]

Japan is the most beautiful place, so are its people.

My son lives there ,married a Japanese lady and they have 3 children.

THe West coast of Japan is my favorite area, around Knazawa and Yamato prefecture.There are still large swaths of rural areas.

[poconopundit]

Candor7, thanks for the tips on places to visit here in Nippon. Will check those out!

...and V.K. I’m working on my Japanese language abilities to be able to broach people on that subject — and many other subjects. I’d LOVE to open up more, but the situation is not right yet.

The best I can do is hint at the problem today and see how they respond. Two months ago, the Japanese federal government called an end to the Covid crisis and invited citizens to feel safe taking off their masks in public. The only place it’s now required is hospitals and other medical settings.

But when people are not walking in the open air, or eating food, 90% of Japanese are still wearing masks — at work, on public transportation, etc. And it’s a matter of saving face. We gaigins (foreigners) can walk around without masks now and almost all of us do.

But the Japanese themselves have not gotten over the Covid restrictions so it’s a silent compliance to the “will of the people”. I have no doubt that more and more Japanese will take off the mask. But you’re talking many months, if not years to remove the social stigma of Covid masks.

Funny thing happened today, my wife and I joined a group of senior Japanese for a pretty rigorous “hike” in the mountains. The views of blossoming azalea and red or white yashio trees higher up on the mountain were stunning.

And naturally we had cell phone pictures of my wife and I in front of the fabulous scenes. But one woman had a picture taken of herself wearing a full mask, sun glasses, and a wife brimmed hat. I had to laugh inside figuring “what’s the point” if you can’t take a picture of your face in the wide open air...

But during the hike, she was totally unmasked. And so I reasoned: because the picture would be viewed by friends and relatives who were NOT on the trek, the picture on the mountain fell under the unspoken “law” of wearing a mask just about everywhere.

[V K Lee]

“Law of the land”.
Though the circumstances look ridiculous, there seemed
to be many who complied: The lone driver racing down
the freeway in the HOV lane. The doctor's assistant expecting you to take an oxygen test while wearing 'YOUR mask. That last example is so LOL ridiculous, it tells
you everything you need to know about laws, doctors, and authority in general. All the while, TPTB continue to ride you attempting to persuade you to ‘get the jab’; by NOT doing so puts all personnel in the building ‘at risk’. There is no accounting
for ludicrous.