alt Hacker NewsI recently heard that a trip to Popeye's for a family of 3 recently cost $68 in Florida.
In Japan, there's a big issue when a snack raises its price 2 cents (3 yen - source: https://finance.yahoo.com/news/japanese-snack-company-apolog...)
The country for better or worse seems to be frozen in time - salaries have not caught up with the heady levels of SV (or even Europe) but neither have rents or prices for common goods.
This is not a judgment either way - but it does make Japanese exports a significantly more lucrative business - if only they could figure out how to sell more of their stuff abroad!
Replies
Wrong.
I watch one of those “apartments for rent in Japan” channels and I’m consistently shocked how inexpensive apartments are in lower tier cities / not Tokyo. Like a studio in an inconvenient part of Fukuoka for $200-250 a month.
I guess the salaries are lower, but it’s hard to imagine such cheap rent in the equivalent American city.
> I recently heard that a trip to Popeye's for a family of 3 recently cost $68 in Florida.
That’s $22 per person. Would like to see what they ordered. Not saying I don’t believe it but that’s pretty high. My family of 4 can eat chilfila for that and chikfila is kind of pricey for fast food where Popeyes is pretty much trash.
Comparing prices between Japan and Europe or US is strongly skewed by the weak yen.
The fact that the JPY has lost a lot of value compared to the US dollar has nothing to do with how prices or salaries in Japan evolve.
Prices in California seem out of control to me. Recent examples, BLT + Coffee = $36, Plate of broccoli, plate of peas, small pizza, tap water = $95. Plate of 2 tacos, burger, 2 drinks = $120. 2 sandwiches = $60
As for Japan. ATM food is often cheaper. If you want cheap though, there are plenty of much cheaper places in the world. For rent, there are cheap options I wish existed in the states. As many point out tho, size is small. I'm happy to pay less for a smaller place but the price per square meter is comparable, maybe not to SF but at least to LA.
Note that like any city, there is a vast range from downtown to less popular parts of the city. "Tokyo" even includes mountains and farmlands on it's far west side
In Japan, inflation adjusted wages are down 2% over the last 20 years. In the same time frame in the US, they're up 20% and even for the bottom quartile, earnings are up 15%.
As a kid, I always wondered why prices HAVE to keep going up. Seemed like a vicious cycle.
That's 10 cents for a single 35-calorie corn puff, to be clear, and it was a 25% price increase. 10 cents for one corn puff is not actually a good price.
> but neither have rents or prices for common goods.
All the price increases over the last few years disagree.
I can't say I've ever been to Popeye's, but $68 for 3 people seems unlikely based on their online prices: I picked a random one in Orlando, Florida and the "family meal" (which appears to be a very large amount of chicken) is $20.
The closest thing would be the "16Pc Classic Signature Chicken Family Meal," which is $55.69 at that location and is described as feeding between 6 and 8 people. So you'd need to tip a bit to get to $68 from there.
Japan gets an economic pass because they have such a strict monoculture.
In the same way you can "break" the laws of thermodynamics by getting every atom to move in the same direction at the same time, you can "break" the laws of economics by getting every person to make the same illogical choice at the same time.
For the longest time their strategy was to:
1. Issue bonds at near zero or even negative yield.
2. Buy US bonds.
The country is still one of the largest foreign US debt holders at $1.191T, and interest from this debt pays for a significant fraction of the interest on their own debt.
Note that the snack price was increased "from 12 yen ($0.08) to 15 yen ($0.10)". That's a 25% increase.
> In Japan, there's a big issue when a snack raises its price 2 cents
That can't be true. So inflation just doesn't exist in Japan?
Japan had decades of deflation after 1990. There’s a generation of people who got used to prices staying flat or going down.
> I recently heard that a trip to Popeye's for a family of 3 recently cost $68 in Florida.
Does it?
People forget that prices don't rise automatically. Businesses decide to raise prices. There isn't some magical force called inflation cuasing prices to go up. It's human decision-making all the way down.
Popeye's for 3 costs ~$10 in India unless you're trying to make a full-course meal out of it.
Why should salaries catch up to heady levels of SV? There are very few places in US that can match SV in salary.
> In Japan, there's a big issue when a snack raises its price 2 cents
No, there really isn't. You're looking at one company that "apologized" as a marketing play but outside of that prices have been increasing with no fanfare for years now. The annual inflation rate has been 2-3% for the past 4 years. It's a lot less interesting to write a news article about that though.
https://www.stat.go.jp/english/data/cpi/158c.html