Posts by Jim Cathcart
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The govt has five Honorary Consul-Generals throughout Japan. All the reps are Japanese nationals and captains of industry--just the kind of guys that you need to grease the wheels and make introductions. Owen Glenn's profile seems perfect for the backdrop of Monaco.
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This is probably a little off the mark but related to the issue of the health of the NZSX. Surely NZ's reliance on overseas borrowings to create asset bubbles (particularly in property) will ultimately lead to its economic downfall, regardless of the relative prudence of the corporate sector. And the prevailing attitude in NZ is that it's all quite healthy and harmless (see Bond & Bond's advertising fiasco). Private debt in NZ far outpaces income and productivity. The same problem exists in Australia, and its magnitude is laid out in detail here by Professor teve Keen.
http://cpd.org.au/sites/cpd/files/KeenCPD_DeeperInDebt_FullDoc_1.pdf
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I'm definitely looking forward to seeing Arcade Fire in Osaka in Feb after the positive reports here. I think my last festival in NZ was a Strawberry Fields when both The Clean and Shihad played. The festival was memorable for the local gang members trying to intimidate our group the morning after they attempted to break into one of the cars. The festival security and police did the very minimum to protect our safety as we tried to leave the site unharmed.
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Funny about the food. Alistair Taylor and Deborah Coddington went on to run The Gables in Russell which was supposedly one of the better restaurants around in the late 80s. For all his faults, big Al was a bad-ass in the kitchen.
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It may read like a NZ First press release, which is ironic given that I haven't lived in NZ for the last 10 years. As for a criticism of foreigners, I would say it's more of a statement about Antipodean attitudes towards easy credit and reckless spending.
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Property investment in NZ and Australia is not driven by the savings of Kiwis and Aussies. It's largely funded by domestic banks borrowing from international institutions. It's essentially a Ponzi scheme run on borrowed money. It's an accident waiting to happen, and no doubt the day of reckoning is getting closer every day. In the case of Australia, at current rates of debt growth, each Aussie will owe $2 for every dollar they make by 2015.
As I type, the ASX is being slammed by the meltdown in Centro caused by lack of credit. It's shocking to know that they were running so close to the bone. However, it's also a reflection of how many Antipodean families survive (paycheck to paycheck) in 2007.
Many people feel it's like comparing apples to oranges, but Japan's experience is good food for thought. Prices were highest in Tokyo's Ginza district in 1989, with some fetching over US$1.5 million per square meter, and only slightly less in other areas of Tokyo. By 2004, prime "A" property in Tokyo's financial districts were less than 1/100th of their peak, and Tokyo's residential homes were 1/10th of their peak.
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No doubt Dan Denning will be pushing his interesting assortment of small-cap, energy, mining service and clean tech stocks.
A slice of paradise for a song? More like a small fortune. I could buy a lodge in the Japan Alps or a decent villa in Argentina for a lower price ticket than a suburban weatherboard in NZ. I guess it depends on your definition of "exotic".
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The manneki neko (cat with raised paw) was a nice touch. Perhaps there's no irony in that they're usually find outside shops to bring good luck for business. I have one that a mama-san tossed after her snack bar hit the rocks. It's been with me for 8 years now.
Praise be with you from this white boy who doesn't wear his shoes on the tatami.
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Keith,
You can actually stay all night in the Popeye internet cafe for about 2500-3000 yen. Apparently, there is a sub-culture of "freeters" (Japan's lost generation) doing just that while they work for a pittance in the service industry. I also hear that high school runaways use them as lodging. Even more scandalous is that teenage prostitutes have been using them to service their johns.
If you say a Family Mart, you can buy a Brastel dialing card for 2000 yen. This will probably get you 3-4 hours of international telephone calls, and they can be used from a phone booth. Free internet has always been a tough one in Japan but if you see an Apple Store or Sofmap electronics store, then you're safe.
If you get a chance, try Osho--a cheap Chinese greasy spoon that will get you a set menu for under 800 yen. When I'm hungover, I go for the spicy ramen, fried rice and gyouza deal which usually sorts me out pretty quickly.
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If Richie McCaw pushes the boundaries of rugby's rules and gets away with it, he's labelled a genius and the referee is criticized with having a limited intepretation of the rule. When the French get away with something perhaps cruder (but common in the beautiful game), the ref gets slammed by the NZ armchair experts.
It happens ( just like the 'Hand of God' incident) and is part and parcel of the theater of sport.