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> The Japanese folks I’ve spoken to are pretty grumbly about the weak yen, though. Your money losing half its value in about a year tends to do that.
by justworkout 3y ago
> The Japanese folks I’ve spoken to are pretty grumbly about the weak yen, though.
Your money losing half its value in about a year tends to do that.
- cko 3y agoUSD to JPY 1y chart does not show a 50% decline - more like 11%
- justworkout 3y agoBecause it already collapsed a year ago. Look at 5 years.
- clipsy 3y agoIt lost ~33% of its value vs the US Dollar in 5 years and you claimed it lost half its value in "about a year."
- justworkout 3y agoDecember 2021 to October 2022. 103 yen to 149 yen. Sorry for overestimating. It was only 10 months. :)
- clipsy 3y agoGoing from ¥103/$1 to ¥149/$1 is a 30.9% loss in value. A 50% loss in value would be going from (eg) ¥100/$1 to ¥200/$1.
- cko 3y agoI'm trying to reverse engineer your thinking. Did you do 150 - 100 = 50, then use 100 as the denominator to get 50%? Because that's not what "losing 50% of value" means.
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- lobochrome 3y agoIt's not like folks here regularly shop in USD. Sure, summer vacations in Hawaii have become more expensive, but... Import-dependent companies - different story. Export-oriented companies: Yeehaw.
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- justworkout 3y agoJapan is an import-dependent company. Fuel and food are mostly imports, so that hurts everyone. And export oriented companies are making money. But trickle down economics is a myth, so it's not benefitting the workers. The executives are doing nicely so good for them I suppose.
- hinoki 3y agoMaybe trickle down economics works if you ask nicely? :-) https://asia.nikkei.com/Economy/Japan-PM-Kishida-asks-companies-for-larger-pay-hikes-in-2024 https://asia.nikkei.com/Economy/Japan-PM-Kishida-asks-compan...
- rayiner 3y agoApparently many American and European consumer products have pricing that tends to be indexed to USD. According to my wife, the Japanese women on her handbag forums are quite salty about the price of Chanel and such these days.
- lobochrome 3y agoSure. As we are salty about the price of Apple products. But how often do you buy this stuff? Day in and day out, my bowl of Ramen is still 600 JPY. My veggies come from Aomori and my Milk from Hokkaido. It's fine. I work in a company that has 95% export and my salary is paid in EUR/JPY and USD (don't ask). So I actually benefit quite a bit. But your average Japanese citizen is just not that much affected. (Unless she buys a lot of imported goods).
- lottin 3y agoIt hasn't lost half its value. A "weak yen" simply means the yen depreciated relative to another currency.