And now 20 years later Japan is now considered to be the first "post growth society". Thanks for the upload, it's always very fascinating to look back at the rise and decline of Japan in the 80's and 90's.
This is because they have policy that don’t promote growt. Fore there to be growt there need to be room for creativ destruction and inovation. There also need to be a more open economy.
As in the '80s, when there were quite a few people who were convinced that "America had entered a stage of decline", and that "Japan would overtake it within a decade", there are quite a few people today, who think the exact same thing about China. The only difference being that instead of Japanese and Russian - yes, Russian, remember, they thought that the USSR would overtake us, too - they are trying to lean Mandarin. Times change, people remain the same. As shortsighted and ignorant as ever.
Thanks for uploading this amazing documentary. I’m sure I’ll watch it again in the coming days. If anything is to be taken from this. It’s that frugality and being austere is what allows a person to survive. Irrespective of how much you’re making right now, it can all go away quite quickly and very suddenly. So, no need for any of the FOMO-induced bs we get bombarded with, and a meal above 7 bucks doesn’t make any sense.
Thank you so much for uploading this documentary! It is fascinating to hear about the absurd wealth of people during the bubble economy. Also hearing about their insane public infrastructure projects to boost employment is very interesting at 1:41:52. Especially with regard to all the hopes and optimism towards the end, sadly I feel like not so much has changed 20+ years later. Still no higher birth rate, still LDP as government most of the time, still no big innovations or revolutionary new companies. Rather traditional companies like Toshiba falling apart. Maybe tourism bares a potential for the future, as Japanese culture and lifestyle are so unique. Also the fact mentioned at 2:01:48 is still up to date: With the weak economical situation, investments can be very promising.
Everybody who want to have a look behind the scenes of the most prominent player in this debacle, please have a look at the documentary : "The Princes of the Yen". Everything will make much more sense...
2:13 Part I Medltdown 3:20 Money can get so far Nii San. That is like for me in Medical Admissions the min GPA requirement but looking at other intangibles. Look at Manchester United. Lots of money being spent but still not good. 4:12 BBC is pointing the finger at Japanese businessmen and Economic ministers who allowed it to happen. 5:26 That's cool a Japanese guy speaking Engrish, I am surprised the LDP never wanted him to be prime minister 5:15 IMPORTANT: Plaza Accord named after an agreement signed in a Hotel Plaza in New York. It was basically an economic agreement between Japan and US where US would decrease its dollar value time -> Effect Allow US to export stuff easier Japan Increase Yen Value -> Effect Yen now bigger than US dollar but now it is now tougher to export Japanese stuff. So that's why lots of Japanese spending. Eventually it went overdrive leading to collapse of 1990 9:20 Free real estate Japanese edition
" Japan’s main stock market index has climbed past its all-time high after a 34-year wait, exceeding the record level reached during the country’s late-1980s asset bubble. The Nikkei 225 index of the biggest Japanese companies passed its all-time record intraday high of 38,957 points during trading on Thursday (reported 02/22/24), to close above 39,000 for the first time ever. The closing level of 39,098 was described by one sales trader as the “psychological closure everyone wanted”.
China has been borrowing Japanese Yen at 0% and exchanged to USD for investment abroad for the Belt and road initiative which caused lost of interest income in hundreds of billions for the US federal reserve. Japan has currency swap deal with the US and their debt ratio is at 260% of their GDP thus Japanese federal bank kept their 10 years bonds at minus 0.1 to 0% or else they can't pay their debt. Washington must stop currency swap deal with Japan to stop China and Japan must compensate Washington in hundreds of billions of interest income lost. Any country that has currency swap deal with Washington should not have 0% in their federal banks.
@ Jeff strong swap or no swap, these countries must be stupid to loan out money 💰 at 0%. Not sure about international loans between countries but my Japanese friend did say the jp banks (bank managers) were begging their customers to borrow money in order to meet their kpi quotas.... Free monies can only lead to one thing: bubble trouble
The 2008 crisis was caused by nasty murica and their hooked nose masters.Actually china was the one who restored the world economy the years after, so go ahead and say thank you mister xi ping for otherwise i would be starving.
@@kevinswift8654 🤣🤣🤣 been an economics n history graduate, a documentary nut, a Chinese background and a keen interest in financial, political history n psychology n cultural awareness, I definitely wouldn’t know as much as you do. And heck I can even speak Chinese language so what do I know vs your majesty’s supreme intelligence in assumptions. Anyways tell me what you know about Tulips 🌷, then you may qualify to talk a bit further with me.
That bow 🙇♂️ and apologizing like that in public is the most awful thing in Japan. It doesn’t mean anything. Nothing is done to rectify anything. You just send some old guy who happens to be the CEO or something to bow and make weird sounds with his crying cracking voice and expect everything to be okay with the public and the investors etc. What a sham.
The problem with bubbles - on all kinds - too many people want to keep it going rather than reign it in. As Thatcher once said, the problem with spending too much on things that don't make money back (although she was talking about socialist policies) is that you run out of people's money. In 2007, the previous UK Blair years were a boom - the cool Britannia years - but it was down to borrowing a lot and spending a lot and now a bust was coming. The previous Conservative government had kept spending low but growth was low too. From 2001, the UK had given up balancing the budget whilst countries like Australia and Sweden paid down government debt (sensing that the boom would need a Keynesian intervention in the future). Blair's government said there was no boom or bust but the bust came but they got on it by buying the ticket....
I remember seen this documentary a long time ago. Definitely deserves to be rewatched again.
Seems history is repeats itself rather frequently.
what was life back then?
@@colonel_yuri Japan was in an absolute mess. Massive losses for the average Mum and dad n many many men suicide.
And now 20 years later Japan is now considered to be the first "post growth society". Thanks for the upload, it's always very fascinating to look back at the rise and decline of Japan in the 80's and 90's.
This is because they have policy that don’t promote growt. Fore there to be growt there need to be room for creativ destruction and inovation. There also need to be a more open economy.
Japanese women
As in the '80s, when there were quite a few people who were convinced that "America had entered a stage of decline", and that "Japan would overtake it within a decade", there are quite a few people today, who think the exact same thing about China.
The only difference being that instead of Japanese and Russian - yes, Russian, remember, they thought that the USSR would overtake us, too - they are trying to lean Mandarin.
Times change, people remain the same. As shortsighted and ignorant as ever.
Japanese pizza
🧀🧀🧀🧀🧀🧀🧀🧀🧀🧀🍕🍕🍕🍕🍕🍕🍕🍕🍕
This video should have more views. It's very well made.
Thanks for uploading this amazing documentary. I’m sure I’ll watch it again in the coming days. If anything is to be taken from this. It’s that frugality and being austere is what allows a person to survive. Irrespective of how much you’re making right now, it can all go away quite quickly and very suddenly. So, no need for any of the FOMO-induced bs we get bombarded with, and a meal above 7 bucks doesn’t make any sense.
Thank you so much for uploading this documentary! It is fascinating to hear about the absurd wealth of people during the bubble economy. Also hearing about their insane public infrastructure projects to boost employment is very interesting at 1:41:52.
Especially with regard to all the hopes and optimism towards the end, sadly I feel like not so much has changed 20+ years later. Still no higher birth rate, still LDP as government most of the time, still no big innovations or revolutionary new companies. Rather traditional companies like Toshiba falling apart. Maybe tourism bares a potential for the future, as Japanese culture and lifestyle are so unique. Also the fact mentioned at 2:01:48 is still up to date: With the weak economical situation, investments can be very promising.
Thank you so much for uploading this video
@34:55 oh geez, even the Japanese have a pizza party concept haha 🤣
Very apt documentary for our current times.
Wow thanks for posting this
Hmmm... "Despite the huge rise in stock & land prices..." 21:04
I don't know what this so sounds so familiar with where I am today in the U.S.
26:28
Ironic coming from a Lehman Bro...
Haha I loved that too
Everybody who want to have a look behind the scenes of the most prominent player in this debacle, please have a look at the documentary : "The Princes of the Yen".
Everything will make much more sense...
Looks kinda familiar in some ways, huh?
1:39 - Those poor horses. Animal abuse, nothing else but animal abuse
Most definetly animal abuse for so called entertainment.
2:13 Part I Medltdown
3:20 Money can get so far Nii San. That is like for me in Medical Admissions the min GPA requirement but looking at other intangibles. Look at Manchester United. Lots of money being spent but still not good.
4:12 BBC is pointing the finger at Japanese businessmen and Economic ministers who allowed it to happen.
5:26 That's cool a Japanese guy speaking Engrish, I am surprised the LDP never wanted him to be prime minister
5:15 IMPORTANT: Plaza Accord named after an agreement signed in a Hotel Plaza in New York. It was basically an economic agreement between Japan and US where
US would decrease its dollar value time -> Effect Allow US to export stuff easier
Japan Increase Yen Value -> Effect Yen now bigger than US dollar but now it is now tougher to export Japanese stuff. So that's why lots of Japanese spending. Eventually it went overdrive leading to collapse of 1990
9:20 Free real estate Japanese edition
Quality stuff. Top show
"
Japan’s main stock market index has climbed past its all-time high after a 34-year wait, exceeding the record level reached during the country’s late-1980s asset bubble.
The Nikkei 225 index of the biggest Japanese companies passed its all-time record intraday high of 38,957 points during trading on Thursday (reported 02/22/24), to close above 39,000 for the first time ever. The closing level of 39,098 was described by one sales trader as the “psychological closure everyone wanted”.
"You cant have the ball" - Sam
while of unsound mind
Japan is a beautiful country ....now
I was told that Japan was a ruthless lasiez faire economy but no it as social democratic as it can be well done Japan well done.
Same like anywhere else then.
What happened to the audio towards the end?
got muted. Copyright protected audio. Auto function here on you tube since a few years.
China has been borrowing Japanese Yen at 0% and exchanged to USD for investment abroad for the Belt and road initiative which caused lost of interest income in hundreds of billions for the US federal reserve. Japan has currency swap deal with the US and their debt ratio is at 260% of their GDP thus Japanese federal bank kept their 10 years bonds at minus 0.1 to 0% or else they can't pay their debt. Washington must stop currency swap deal with Japan to stop China and Japan must compensate Washington in hundreds of billions of interest income lost. Any country that has currency swap deal with Washington should not have 0% in their federal banks.
@ Jeff strong swap or no swap, these countries must be stupid to loan out money 💰 at 0%.
Not sure about international loans between countries but my Japanese friend did say the jp banks (bank managers) were begging their customers to borrow money in order to meet their kpi quotas....
Free monies can only lead to one thing: bubble trouble
1:18:21 "Youth is necessary to get that approach" My brother in pantsu, you are over 40!
Poor animals - I mean the horses at the beginning.
tyyyy
50:05
57:30
Can we have this in 1080?
if this was made for TV it was probably only ever broadcast at 480i at most
Dude, those BBC logos were from the times they were taped from the TV on VHS or DVD!
@@rubix4195 The Jurassic Era.
Sony decline Japan lost score.
umm what are you talking about Sony DID NOT decline and Japan did NOT lose anything
Looks sounds n smells like the China bubble trouble and the financial troubles of 2008/9 all over again.
2008/9 crisis started in US dumbell
The 2008 crisis was caused by nasty murica and their hooked nose masters.Actually china was the one who restored the world economy the years after, so go ahead and say thank you mister xi ping for otherwise i would be starving.
I don't think you understand China let alone Japan
@@kevinswift8654 🤣🤣🤣 been an economics n history graduate, a documentary nut, a Chinese background and a keen interest in financial, political history n psychology n cultural awareness, I definitely wouldn’t know as much as you do. And heck I can even speak Chinese language so what do I know vs your majesty’s supreme intelligence in assumptions.
Anyways tell me what you know about Tulips 🌷, then you may qualify to talk a bit further with me.
@@Alan-megan AFAIK China hasn't had a Japan-sized boom and bust nor a financial crisis as serious as that of 08/09.
That bow 🙇♂️ and apologizing like that in public is the most awful thing in Japan. It doesn’t mean anything. Nothing is done to rectify anything. You just send some old guy who happens to be the CEO or something to bow and make weird sounds with his crying cracking voice and expect everything to be okay with the public and the investors etc. What a sham.
The bank of Japan.
Richard Werner - Princes of Yen.
21:22
This is the inevitable future of China. And hopefully if they are lucky, they will recover as Japan has.
But I highly doubt it!
Why is it inevitable?
The problem with bubbles - on all kinds - too many people want to keep it going rather than reign it in. As Thatcher once said, the problem with spending too much on things that don't make money back (although she was talking about socialist policies) is that you run out of people's money. In 2007, the previous UK Blair years were a boom - the cool Britannia years - but it was down to borrowing a lot and spending a lot and now a bust was coming. The previous Conservative government had kept spending low but growth was low too. From 2001, the UK had given up balancing the budget whilst countries like Australia and Sweden paid down government debt (sensing that the boom would need a Keynesian intervention in the future). Blair's government said there was no boom or bust but the bust came but they got on it by buying the ticket....
A rabbit loses in the end
That wasn’t a horse race , that wasn’t any sort of civilized sport whatsoever, simply animal cruelty!
Yes it most certainly was.The Horse that collapsed probably had severe exhaustion.
The horses need handling with care not crualty for doing the stupid game.
Exactly
Hay is for horses.
too relevant today
Another victim of american politics
This is why japan should リガライズマリフアナ
2:45
3:09
4:36
lol
The beginning really p*ssed me off seeing those horses now i dont feel bad for what happened to the economy 😂