reply on: Japanese Yen continues to crash, almost 155 Yen to USD 📈 \ stacker news ~econ

219 sats \ 3 replies \ @john_doe 16 Apr \ parent \ on: Japanese Yen continues to crash, almost 155 Yen to USD 📈 econ

Thanks to the currency problem I think I got a new Bitcoin friend at least in Japan. Do Japanese stackers notice? I would say yes, definitely (although I am not Japanese). The situation is exactly like in When Money Dies, however based on the book I would say it feels like in 1919, so it is not hyperinflation. It is inflation and shrinkflation (price increase plus smaller packaging). If people go everyday to McDonalds people may not notice anything in Japan, as prices didn't increase much. However if people on the ground know what food really is, then they most likely have noticed as I do that imports switched to food from Vietnam, GMO food without taste, added sugar in processed liquids, etc. Example: cacao I bought went from 2000 JPY to 3000 JPY. It increased. However for people buying chocolate typically what I would expect is the maker increases the amount of sugar, uses Ajinomoto-like substances a little bit more, and decreases the amount of cacao. End result my guess is the price of chocolate may have slightly increased (I didn't check specifically for chocolate though, sorry)

99 sats \ 2 replies \ @siggy47 16 Apr

Thanks for the insight. Do you drive? Have gas prices risen recently? I also would think transportation costs for consumer goods will start rising substantially.

99 sats \ 0 replies \ @john_doe 16 Apr

Let me add to the other answer that I see more a social shift than a price shift. Like in the past there was no Japanese prostitutes standing in the street of Ikebukuro for example, whereas now there is.

99 sats \ 0 replies \ @john_doe 16 Apr

Sorry, I don't know for this year. In 2022, in Okinawa I know the price of oil was high, it also increased for mainland also. This year I am in the process of taking my license driver for motorcycles in Japan so didn't drive yet ;) For consumer goods, bear in mind shops like Unicolo or Daiso do a pretty good job at keeping prices low. Toyota cars are still cheap too, I saw one, second hand, for less than 50 0000 JPY this weekend. So price increases at least currently is not dramatic. In many cases price increase is hidden in lower quality.