My Wonderful World (Notre monde merveilleux)
Experts say that one dollar will be exchanged at 75 yen by the end of this year.
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While Japan’s economic growth is slowing, it’s still projected to be faster than the U.S. or euro zone. Growth may total 3.4 percent this year, compared with 3 percent in the U.S. and 1.4 percent for the 16-nation euro area, according to the median estimates in separate surveys by Bloomberg. At 5.2 percent, Japan’s jobless rate is the lowest of the Group of Seven nations.
Traders are also attracted to Japan’s current-account surplus. The country doesn’t need to rely on foreign capital to fund a trade deficit, making the currency a haven in times of crisis. Exports exceeded imports by 804.2 billion yen ($9.36 billion) in July, more than the 466.3 billion-yen median estimate of 24 economists surveyed by Bloomberg. The nation’s foreign-exchange reserves total $1.01 trillion, second only to China’s $2.45 trillion, according to data compiled by Bloomberg.
http://www.bloomberg.com/news/2010-08-29/yen-rising-proves-catch-up-for-asia-exports-at-traders-target-75-to-dollar.html
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The Japanese people enjoy higher salary comparable to Americans' but not to Chinese salary.
So, the Japanese currency is stronger than the Chinese currency. Americans would rather buy the Japanese currency than the Chinese currency.
This gap between the Japanese economy and the Chinese economy may be called "deflation in Japan," resulting in higher appreciation of the yen than the U.S. dollar and accordingly than the Chinese yuan.
SECTION I: The Rich to be Richer in China
The People's Daily of China reported this May that the gap between rich Chinese and poor Chinese is getting wider day after day.
The causes for this trend was analyzed as follows:
(1) City Dwellers vs. Villagers
The income gap between city workers and villagers is now 3.33 vs. 1 while it was 2.6 vs. 1 in 1997.
(2) Monopoly Firms vs. Ordinary Ones
The substantial income gap between employees in monopoly companies in the power, telecommunications, financial, insurance, tobacco, and other specific sectors and those in ordinary businesses is 5 vs. 1 or 10 vs. 1.
(3) Those With Connection to Government vs. Those Without
The Chinese Government still directly manages and controls various rights, interests, and concessions in terms of capital, lands, natural resources, and other fundamental assets of the nation. But, those national assets bring huge benefits only to some limited individuals and businesses having special connection to governmental agencies, since they are neither operated nor regulated in a democratic manner.
(4) Those Allowed for Special Treatment and Those Not
Those admitted into a special group due to some merit and qualification can enjoy far better treatment in public offices, government-owned companies, and government-linked organizations. To be admitted so, many citizens sweeten key figures in the central and local governments with a bribe. Also, companies to help citizens get qualified so, if in an illegal manner, are doing brisk business.
(http://www.excite.co.jp/News/china/20100526/Recordchina_20100525022.html)
The Chinese Communist Party is helping the rich get richer but requesting the poor to support this policy of the Party.
There is always a grand cause the Chinese Communist Party can take up customarily: stabilization of the Chinese society and the securing of the rule by the Party.
At present, if the Communist Party suppressed desire of people for riches, large-scale social unrest would be set off. But, when the poor think that time has come for justice, another revolution can be set off.
SECTION II: The Rich to be Richer in America
Capitalism is a system after all where the rich get richer and the poor get poorer as the most practical and meaningful outcome of it.
Americans misunderstand that their American Dream can be only realized in the capitalism America.
Americans also misunderstand that their American Dream must be what can be only realized in the capitalism America.
Today, if the population of America is 10 and its wealth is only two cheeseburgers, one rich man takes one cheeseburger while other nine are sharing another, virtually.
(Click to enlarge.)FIGURE 1: The Top Decile Income Share in the United States, 1917-2007
Source: Piketty and Saez (2003), series updated to 2007.
Income is defined as market income including realized capital gains (excludes government transfers).
In 2007, top decile includes all families with annual income above $109,600.
http://elsa.berkeley.edu/~saez/atkinson-piketty-saezJEL10
Americans who are ranked within top 10% in terms of the income level holds 50% of total money distributed as income among all the Americans.
Simply put, 10 richer people occupy 50% of money circulating in the society if the population of America is 100 (as of 2007).
But, it was not always the norm. In 1982, 10 richer people occupy just 35% of money circulating in the society if the population of America is 100. In 1995, 10 richer people occupy only about 40% of money circulating in the society if the population of America is 100. In 2002, the ratio fell to 44% from 48%, but again up to 50% in 2007.
What happened in 1982, 1995, and 2002?
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1980s
- The financial world and the stock market were glamorized in a way they had not been since the 1920s, and figures like Donald Trump and Michael Milken were widely seen as symbols of the decade. Widespread fear of Japanese economic strength would grip the United States in the '80s.
- During the 1980s, for the first time in world history, transpacific trade (with East Asia, such as China, and Latin America, primarily with Mexico) equaled that of transatlantic trade (with Western Europe or with neighboring Canada).[1], solidifying American economic power.[2]
http://en.wikipedia.org/wiki/1980s
August 12, 2981 - IBM launches its first PC IBM 5150. Since then, IBM starts to launch a series of upgraded PCs virtually year after year. Compatible makers also follows suit.
May 2, 1982 – The Weather Channel airs on cable television for the first time.
October 1, 1982 – Sony launches the first consumer compact disc (CD) player (model CDP-101).
October 13, 1982 – NEC launches PC-9801. Since then, NEC and other Japanese makers start to launch a series of upgraded PCs virtually year after year.
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It is the coming of the first IT era with primitive cable TV systems, portable electronics, and personal computers that triggered the rapidly widening gap between the rich and the poor in America around 1982.
Development centers and market for these technologies were no more in Europe and the East Coast but in Japan, the Far East, and the West Coast.
New technologies and innovations brought about the rapidly widening gap between the rich and the poor in America around 1982, since they were also introduced into Wall Street.
Then between 1987 and 1995, the pace of the gap being widened was slowed down. During this period, not so drastic technological breakthroughs were realized. The speed of processors in PCs got higher year after year, but till the emergence of Windows 95 in 1995 that allowed ordinary PC users to use the high-speed Internet so casually, the restricted environment of using PCs also influenced the proceeding of the gap expansion.
In 1995, the emergence of Windows 95 opened the cyber space so widely to PC users at home and in offices connected to the Internet. The amount of data being collected, exchanged, and processed over networks increased so steeply, which resulted in making high-speed financial transactions possible, though computer-aided stock dealing had been common in a large scale since late 1980's.
This spurred pace of diffusion of IT technologies also spurred the widening of the gap between the rich and the poor.
Then the 9/11 Terror in 2001 came. Technological development never stopped in any era and in any age if whatever social incident occurred. But, around 2000, as Google grew so much to symbolize the shift of a focus of advanced technologies from the hardware/software sphere to the applications/contents sphere, the IT technology faced a need for a change in direction of evolution. Along with the paradigm change concerning the American security and defence, a kind of paradigm change was requested even in rich men's living. But, with the start of the War on Terror, the IT industry was boosted. The morale and mood propagated to rich men's activities. Along with the reshaped technological paradigm and rapid growth of Google, the rich became richer again.
In summary, the emergence of "real PCs applicable to business," the emergence of "Windows 95 with the Internet connection function," and growth of "Google and sophisticated use" of IT technologies spurred the widening of the gap between the rich and the poor.
Even if a level of desire of Americans is the same in 1960's, 1970's, 1980's, 1990's, and 2000's, a difference in the level of technologies in those eras has resulted in that huge concentration of wealth in the rich, leading to the gap between the rich and the poor so widening.
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A telephone survey by the Yomiuri Shimbun Newspaper, Tokyo, showed support ratings for the two Japanese premier candidates.
P.M. Nato Kan: 67%
Ichiro Ozawa: 14%
An Internet survey by the Yomiuri Shimbun Newspaper showed support ratings for the two premier candidates.
P.M. Nato Kan: 24%
Ichiro Ozawa: 76%
A twitter survey showed support ratings for the two premier candidates.
P.M. Nato Kan: 5%
Ichiro Ozawa: 95%
A telephone survey reflects overall opinions of voters in a ratio of 80% to 90%.
But, generally speaking, only a small percentage of voters join a Net survey voluntarily. Those mobilized or influenced by specific organizations can account for more than 75% of all the participants.
Generally speaking, only a minimal percentage of voters join a twitter survey voluntarily. Those mobilized or influenced by specific organizations can account for more than 95% of all the participants.
This DPJ election where P.M. Mr. Kan and Mr. Ozawa are going to contest the party head presents a good example for a special case of surveys using telephones, an Internet site, or a twitter service.
Note 1: It is anticipated that if Mr. Ozawa is elected for the next P.M. of Japan, he will be firecely attacked in the Diet sessions for his allegedly illegal political fund handlings, resulting in early general election where the DPJ will be probably defeated. According to a newspaper survey, 80 to 90% of voters do not think Mr. Ozawa has explained his case fully to the public.
Note 2: I am not a registered member of, or supporter for, the DPJ. But, as in 1993 after a Ozawa-led tricky regime change the Hosokawa Cabinet fell in eight months and the succeeding Hata Cabinet fell in two months due to Mr. Ozawa's misjudgment, it can happen that after 10 months of the Hatoyama Cabinet the Kan Cabinet falls in three months due to Mr. Ozawa's misjudgment. Unless the Kan Cabinet consolidates its ground through this DPJ party election, early general election will be inevitable.
(http://8.health-life.net/~susa26/natumero/41-45/mayonakanogita.html
The year 1969 is a very impressive year, looking back to it from now. Doesn't this sound nice, does it?)
Luk 8:29 (For he had commanded the unclean spirit to come out of the man. For oftentimes it had caught him: and he was kept bound with chains and in fetters; and he brake the bands, and was driven of the devil into the wilderness.)
Luk 8:30 And Jesus asked him, saying, What is thy name? And he said, Legion: because many devils were entered into him.
Luk 8:31 And they besought him that he would not command them to go out into the deep.
Luk 8:32 And there was there an herd of many swine feeding on the mountain: and they besought him that he would suffer them to enter into them. And he suffered them.
Luk 8:33 Then went the devils out of the man, and entered into the swine: and the herd ran violently down a steep place into the lake, and were choked.