Chapter 586 The Man in Debt
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The poor Japanese have never seen so much money, and they have never made so much money so easily.
Nothing, for no reason, just because of the change in the exchange rate, in three years, everyone's assets have doubled.
The rapid appreciation of the yen has brought about a collective increase in wealth across Japan, and has attracted global capital speculation, which has set off more chain reactions, and housing prices have begun to go crazy.
Everyone is doing nothing, and the value of their assets is growing at a rate of more than 30% per year, and there is nothing crazier than that.
This crazy quick money, this sudden windfall, makes all the Japanese crazy.
They have gone from being perverted and cheap hard-working workers who do not consume and desperately save money in developed countries to shopaholics who "buy, buy, buy, buy" all the way when they turn their heads.
Every Japanese person is crazy about "buying, buying, buying", they only buy the expensive ones, not the right ones.
Ordinary Japanese buy a lot of houses, cars, and famous brands. Japan's big companies, buying buildings, buying land, buying businesses, they even bought the iconic building of the United States, Rockefeller Center, all the way.
Housing prices in Japan are the same every day, buying in the morning and rising in the afternoon, and buying in the afternoon and rising in the evening.
As housing prices grew, the wealth of the Japanese swelled so rapidly that in their heyday, even the world exclaimed that selling Tokyo could buy the entire United States. A small neighborhood in Tokyo can buy a small European country.
The appreciation of the yen is like a terrible monster, once it is released, all the Japanese people are crazy, including the leaders of Japan, and the leaders do nothing, and the approval rating will rise.
Relying only on the growth of the exchange rate, the Japanese did nothing, and suddenly entered the best golden bubble era.
The yen has been rising, housing prices have been rising, and the banks have gone crazy, and the banks are lending based on the income of these people now, multiplied by the next few decades.
Money seems to come out of thin air, the company spends this money on recruitment, and the company plays with its life to shoot the ground. The king of the land is frequent, and the construction site is open all day long.
The stock market, the property market, the exchange rate, everything is going up like crazy. Everybody is getting rich, everybody's wealth is growing, no one is losing money, it's the best time for the golden bubble.
Under the extreme prosperity of the economy, the Japanese have gone from perverted dead door-slamming to global shopaholics.
They travel all over the globe and make the most luxurious trips. Luxury stores in the United States and Europe were all occupied by the Japanese, who had huge amounts of money. Wherever the Japanese go, they buy all the way.
In those countries, there were even robbers who specialized in robbing the Japanese, because the Japanese were all famous brands and carried a lot of cash with them.
LV's handbags, Armani's clothes, luxury sports cars, expensive watches, and luxury stores from all over the world are full of Japanese people. The staff of the luxury goods store has specially hired a staff member who can speak Japanese, and has added a special explanation in Japanese.
Major tourist attractions, full of Japanese, Hawaii has become a private swimming pool for Japanese people.
This feast of wealth is both long-lasting and short-lived.
The feast of wealth lasted so long that the Japanese almost bought the world. The feast of wealth was so short that the Japanese did not react from the bubble, and they returned everything.
Rockefeller Center, which was bought at a high price, was returned at a low price. Houses, cars, and businesses bought at a high price have all become debts.
As the Japanese bought and bought all the way, Japan exported through manufacturing, and the foreign exchange accumulated over the years was quickly stretched thin.
High housing prices have led to a significant increase in the cost of manufacturing in Japan. The sharp appreciation of the exchange rate has led to an exponential increase in the price of export commodities.
Soon, Japan's exports collapsed, and Japan's manufacturing industry collapsed.
At the same time, with the collapse of Japan's exports, the collapse of Japan's manufacturing industry. Japan's golden age finally began to burst at the top of the bubble.
Nothing can rise to the sky, and all the investments, when they fly to the sky, finally find that what they are stepping on is only a fragile bubble.
The stock market has halved, with the stock market falling by two-thirds from its peak.
The property market has been cut in half, and the housing prices in Tokyo, which are almost impossible to fall, have been cut in half.
Tokyo is a very hot city, a city that gathers the wealthiest people in all of Japan. Housing prices have been cut in half in this capital city, which controls education, health care, finance, and employment, and is the economic and political center of Japan.
One can imagine the extent of the Japanese economy at this time. During the bubble period, most of the middle-class and wealthy who bought houses became negative equity.
Property prices in Yuzawa, one of Japan's most popular holiday apartments, have even fallen to one-twentieth of their highest point. Some old houses, in order to escape the maintenance fee, property fee, will even be sold at 0 price.
If it must be compared, it is a scene that may only be seen when the housing prices in the capital are halved in the future.
And this year, Japan's exchange rate continues to rise, and it continues to rise in the midst of this terrible economic crisis.
Japan's exports, with the continuous doubling of the exchange rate, completely collapsed.
In such an era, those Japanese who were in debt during the bubble period sold everything they could sell, and they sold everything they could sell their children and daughters.
It is not easy for this person in front of him to persist until now.
The middle-aged man took out a mobile phone, and the old Nokia phone had already peeled off its paint, indicating that the person's financial situation was not good.
He entered a number on his phone. He stared at the screen of his phone, hesitated for a few moments, and finally did not dial the number.
"Bell, bell, bell!"
At this moment, his mobile phone suddenly rang, and the middle-aged man hurriedly stood up and answered the phone in a humble tone.
"Ryoko, it's Dad, Tomoya Mitake. ”
"Ryoko, why did you suddenly think of calling your father?"
"Oh, I miss my father, and my father misses you too. Are you bored in the country?"
"Stuffy," the man said in a loving tone, "Daddy will be back soon, and I'll pick you and Mom back to Tokyo when the time comes." ”
"You said you don't want to go back to Tokyo, there is a strange uncle in Tokyo to scare you?" The man had an uncomfortable expression on his face, and his tone trembled a little, "Oh, then let's move then, move to a good neighborhood, and be friends with good neighbors." ”
"Okay, Ryoko is so good. By the way, Ryoko, how is Mom today?"
"Mom is still crying, Ryoko has to be obedient, Ryoko is already a big girl, take care of her mother. ”
"Well, Ryoko is the most well-behaved, and Dad also wants to eat Ryoko's grilled fish. Dad has already eaten, friends in Hong Kong invited Dad to a big meal, Ryoko and Mom, they have to eat well at home. ”
(To be continued.) Mobile phone users, please browse and read, a better reading experience.