1989: The End of Japan's Greatest Party
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- Опубликовано: 16 июн 2024
- During the 1980’s, Japan was a country in the midst of a giant bubble economy. It was a time of unprecedented growth and prosperity. Stocks were constantly in the green. Real estate prices were high. Just about everyone was able to make money in one way or another, and people were not afraid to spend their hard earned cash. It was a kingdom of wealth and a time of prosperity, optimism and euphoria.
At the time, it was thought by many that Japan was on track to become the world’s largest economic player. But how did this happen? What was life like for those who lived through this Economic Miracle and what caused this party to abruptly end?
Segments:
0:00 - Intro
0:49 - The Build Up
3:00 - Japan's Transformation
5:25 - The Bubble Expands
6:00 - Life in the Bubble
7:58 - The End of Japan's Greatest Party
Karl Casey @ White Bat Audio 
Развлечения
As a Japanese person born after the 2000s, I wonder how my mom lived this life. Would have been a blast
Lived in Japan in the mid eighties and remember the booming economy and over confident spending. Fifteen years later, what a difference.
Ahhh… 1989 I was working in the office in Roppongi watching Tokyo Tower. It was a mecca for expats and glitzy, upbeat and opportunistic vibe. I moved to US in 1990, lucky to experience the hight of the economic boom. Great cinematography and sum up the era so spot on!
I came to Japan in 1991 just as the boom ended. Even then the money here was incredible. I went to one of my first interviews at an English school where they gave lessons in a Ferrari! The boss would drive with the student in the passenger seat. They'd drive around the city for an hour and chat. That was it. Madness at its finest. A pity the school went out of business shortly after. It was crushed by debt. Anyway, they were great days. A pity Japan has fallen so far.
i also arrived in japan, in fukuoka, in 1991. i ended up living there for almost 15 years, with a2.5 years break. how about you ? where n how long were you there for ??
@@homebrandrules At that time I was here from 1991-1993. Then I returned in 1996 and still here. To be honest, I've regretted it. I've only stayed in Japan for my family. We should have moved to Australia a long time ago, but my wife couldn't leave her mother. Japan is a great country if you have lots of money, but if you don't it is an endless grind and stress. It's so easy to see why no one wants babies and the suicide rate is up. Of course, crime is on the rise too. The future here is extremely grim. But as I said to my wife last night, in 2024 I'm heading home.
@@RohanGillett thanks for your reply my gaijin brother. how serendipitous . my first stint was 91-93(fukuoka), a few mnths break then until 95(fukuoka ,sasebo), then back again from 97 until end of 2008 (osaka) . i was approaching 40 when i left, i couldn't feel any long term future, my gaijin friends were leaving n being replaced by a younger generation of western knowitalls whom i didn't click with . for the last year i was pretty much a hikikomori, the daily racism , subtle though it was, became too much . like you i,m an aussie, except interestingly i ended up marrying a korean. a failed marriage. we have a son whose name is yours but with a G where you have an H. hence my use of the word serendipitous. i,D like to hear more about your life in japan if you feel so inclined ,
( i compare our gaijin club to a cross between pirates n vietnam vets, somethings which allow only us to silently understand each others mindsets and shared experiences)
n lastly i wanna say beware of kikokushijo if u come back here long term.
GOODLUCK !!!
The sad thing with "bubble bursts" like these is that not only does the economy suffer, but the nation's culture begins to wane along with it.
Japan is on the verge of losing the very iconic culture that distinguishes it from the world, and economic collapses combined with other factors, such as an aging population and the threat of being ousted economically by China, just to name a few, contribute to the risk of dissipation. The geisha and anime components have already suffered tremendous setbacks.
I totally agree. After spending several years here now, I feel like a large part of the current problem is the lack of willingness to change and adapt. Younger generations rarely vote which leaves the older generation to decide how the country is run, and they traditionally just vote for who they always vote for meaning politicians are less risk adverse and don’t try to do anything too radical.
The state of software and technology outside of Tokyo is almost laughable.
I love the Japanese delinquent mangas from this era it shows how fun and crazy these times were but also how dark it became after
insane this only has 400 views, this is really good dude
Well at least a few people can enjoy it haha!
I just got back from Japan and watched it while in Tokyo. Very very amazing timing and video
Great video. Fun and well-researched ride into the past, and '80s Japan is just a vibe.
This video is a mine of information about Japan! Great work Mate!
Amazing video man, watching this while hanging out in Tokyo with a beer
Awesome vid mate
This deserves 100k views.
Very well made and good visuals. Keep at it and your going places ;]
I recommend investing in advertising this video. It has potential
i agree
Haha good shout maybe I will. Thanks a lot!
More than that, I will say Millions, I'm not trying to exaggerate or to get attention.
Absolutely fantastic video! 🎉 From script to editing I can see ya took time with this one!
Cheers man, appreciate it! Nice work at Tokyo Creative too!
Amazing video and would love a part 2 focussing on how Japan tried to tackle the issue through the 90s
20 seconds in and I know that this channel deserves all the subscribers
Appreciate that!
Great Video!
This was super interesting - I love all things 80s and I have always wanted to see Japan....perfect content 🥰😉
great video man
Thanks man I appreciate that!
Really good video, dude. This will pop off, keep on pushing em out :)
Your comment is the same as the 2 other ones
Thank you buddy!
The algorithm brought me here, good stuff 🤌
Thank you for the video! First I thought you copied the content from other source but it turns out that it is actually yours :)
I like the fact that you mentioned the social and cultural effect of the economic boom. However, the lessons-learned part is where everybody rush into superficial conclusions, for example, overvaluing assets surely caused the economic crisis, but is it really the core reason or an effect of another cause? Keep it up you are about to be great!
Thanks a lot I appreciate it!
Waiting for algorithism blowup.
damn, 2008 happened in Japan 20 years before it did and no one learned a thing
Or maybe they learned the wrong lesson!
@@TheESMAT07 good point
top quality content 100%
Thanks a lot! Appreciate it 🤝
u just gain a subscriber number 314 dude
Trully fantastic🎉
I RESPONDED to someones comment thinking this was very similar to a recent vid. on the same topic, BUT now I've watched til the end i see it isnt.
thankyou for your effort and the trip down memory lane
Yeah that's me. You are right it's unique. We are blessed to have something like youtube these days..
Sounds so familiar 😂 History always repeats itself. Great video!
I’m more surprised by the fact Japan still operates largely in the same way that it did back in the 80s as if the crash wasn’t an indication that they needed a massive societal reform!
@@Retro-Japan Japanese culture is simply fascinating. Despite how efficient they’ve made certain aspects of their day to day life, a lot of the country is still heavily reliant on archaic tech and processes. A big one is how heavily reliant businesses are on fax machines. Even just getting a debit card and phone is a journey and a half.
Their business culture is also still stuck in the past. Japanese companies still back each other up if foreign competition arises. Just seeing how much influence SoftBank has over all the corps across Japan is insane. If you take a look at WeWork, since it was backed by SoftBank, they’re still trying to prop up that disaster of a company. It’s just so fascinating to observe from an outsider perspective.
@@weizhang7612 Luckily I work for a foreign company here so I can avoid most of the major headaches. SoftBank though is an interesting one, they supposedly own majority shares in Yahoo which is why the Yahoo Japan site looks exactly like it’s original design when compared to the global Yahoo site. There’s definitely a resistance to change.
@@Retro-Japan my friend told me that foreign companies that base there have much better work/life balance. Which I think it is great! I love visiting Japan, but I don’t think I would ever see myself working there haha
Great vid! I don't understand why japan signed the plaza agreement? I could see how us benefits but how was it supposed to benefit thr Japanese?
Was asking myself the exact same question
So it's not Majima fault?
Joke aside I know Japan economy was big but 45% is far more than I expected
Well, at least they had fun while it lasted
This is the story of the USA, but over the course of the last 100 years.
History isn’t history if it doesn’t repeat itself 🤷🏻♂️
On the real, we should've kept trading with Japan rather than selling out to China.
Kinda sounds like China now. Very exciting.
Now it’s China.
What caused it to change? Banks owned by a tribe with very distinct facial features.
japan was and has alaways been mostly self banked with domestic entities