Japan’s yen sinks broadly as BOJ policy adjustment seen inadequate

8 comments

1. Everyone aboard the 200 yen to the dollar train!! Choo Choo. Japanese policy makers are already on board!

2. This problem will be fixed right after companies start raising everyone’s salaries.

3. I gotta make a big transfer from the US to Japan next year, keep on going down please! 😉 s/

4. And yet if you use the JR rail passes as a proxy for what industrialists think the exchange rate will be going forward, it appears as though 150 to the dollar is the new normal.

   For example the Tokyo Wide Pass was for years about 10,000 yen. Which put it at about $100 give or take 10 to 15% over the last 20 years. On October 1st it jumped to 15,000 yen. Presumably JR East’s only dollar denominated cost is imported fuel to generate electricity. It’s labor costs are all yen denominated as are presumably much of it’s construction costs for capital projects.

   So what justifies a 50% inflation number? Perhaps the idea that they are resetting the cost to the historical dollar cost because a) they can, and b) they think the weak yen will persist?

5. Real estate developers and others here in Japan love all this. They’re selling properties to the Chinese, who pay lower prices thanks to the weak Yen. They also get to use Japan’s health care system, covered by the taxes of those of us who actually live and work here.

6. I work less than part time as a student (30h~) in Germany and make more than a Japanese college graduate in a month what the fuck…

7. Let it rip! 💀

8. If your job pays in USD you’re just cruising lol. Because of this you can burn so much money and ended up burning nothing at all. Its fun. Imagine it going to 200. Right now real estate is so cheap to get into when you’re holding foreign currency. Invest in many properties as you can. Then you put the price tag and rent or sell. Due to the demand, if you keep up with the supply it’s lucrative AF.