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by MikeMacMan
5285 days ago
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- The recession disproportionately affected rural Japan. In Tokyo you see lots of shopping and commerce. However, prefectures in places like Kyushu have unemployment rates above 10% - An entire generation of baby-boomers working as middle-manager types got highly-inflated mortgages during the bubble, only to be downsized or have their pay/benefits cut in the aftermath. These people have been hit very hard. - I'm not sure of the latest numbers, but Japan has a deficit problem that rivals the US. As a % of GDP it might be worse. |
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