The Yen

I was reading it is common in Japan for people to work 100 weeks.  Then I seemed to recall they have been trying Keynesian economics for quite some time–decades–then reasoned that they have likely inflated the currency.  I look it up, and sure enough, the dollar bought 85 yen about 5 years ago, and now it buys nearly 125.

Here is a summary:

The USDJPY traded at 122.26 JPY on Friday August 21, according to interbank foreign exchange market quotes. The Japanese Yen averaged 154.56 from 1972 until 2015, reaching an all time high of 306.84 in December of 1975 and a record low of 75.74 in October of 2011.

One of the first things modern “economists” tell developing economies to do is deflate their currency so that they can export more.  That makes their stuff more cheap for other countries, but also more expensive FOR THEM.  And the money comes from somewhere, does it not?  It doesn’t grow on trees.

It comes from banks, normally from central banks, but also possibly from the government, depending on how things are set up; and from the fractional reserve banking system.

When you see Keynesian economics, you see this same dynamic, this same desire to pump money “into the economy”, so that even though Japan was developed, it likely acted as if it weren’t.  And when you see all this what you also need to see is a power elite making fortunes, by stepping on the necks of ordinary working men and women.  The same thing is happening here, just to a lesser extent than there.

I read the Japanese even have a word for “death from overwork”.  It need not be that way, given sane economic policies.

Some day someone will listen to me.