Even as economist talk about the Lost Decade (really, two decades) in Japan, the unemployment rate has always been relatively subdued compared to the US:
From about 1.7% in 1990, and then two spikes that just about reach 5.0% in 2002 and 2009. Not only that, but that’s the range for people 25-54 years old, which isn’t equivalent to the headline number typical in the US. There is an equivalent in published US data, and you can see it’s much higher and spikier than Japan:
This doesn’t mean everything is OK for the working class in Japan. Housing prices are astronomical, requiring 100 year multi-generational loans. Working culture is also far more stressful. However, I think it’s fair to ask who the “Lost (two) Decades” is really affecting.
Because it’s BS. It’s glaringly fake and calls into question the rest of the claims of the post.
Housing prices aren’t even insane, especially outside of Tokyo. And the property prices don’t even go up. AND you can get 35 year housing loans at under 1% interest. The main reason housing prices have gone up at all is that construction materials cost have gone up due to inflation, Ukraine war, covid supply and demand issues.
I guess it works pretty differently to our system where you borrow x money at y interest rate then? Because otherwise a slight interest rate change has a huge impact, or paying slightly more back would reduce the time to pay it by decades.
Even as economist talk about the Lost Decade (really, two decades) in Japan, the unemployment rate has always been relatively subdued compared to the US:
https://fred.stlouisfed.org/series/LRUN25TTJPA156N
From about 1.7% in 1990, and then two spikes that just about reach 5.0% in 2002 and 2009. Not only that, but that’s the range for people 25-54 years old, which isn’t equivalent to the headline number typical in the US. There is an equivalent in published US data, and you can see it’s much higher and spikier than Japan:
https://fred.stlouisfed.org/series/LNS14000060
This doesn’t mean everything is OK for the working class in Japan. Housing prices are astronomical, requiring 100 year multi-generational loans. Working culture is also far more stressful. However, I think it’s fair to ask who the “Lost (two) Decades” is really affecting.
This is the first I’ve heard of this and the fact that it’s real is insane to me.
Because it’s BS. It’s glaringly fake and calls into question the rest of the claims of the post.
Housing prices aren’t even insane, especially outside of Tokyo. And the property prices don’t even go up. AND you can get 35 year housing loans at under 1% interest. The main reason housing prices have gone up at all is that construction materials cost have gone up due to inflation, Ukraine war, covid supply and demand issues.
I guess it works pretty differently to our system where you borrow x money at y interest rate then? Because otherwise a slight interest rate change has a huge impact, or paying slightly more back would reduce the time to pay it by decades.