And what did those rich folks from NYC do when they moved to Florida. I’ll bet a lot of them bought a yacht!
The nation is viewing “The Grapes of Wrath” in reverse.
Ride out the Storm indeed :-) The economic storm we are experiencing right now.
Still, from my vantage point in Japan, things are rosier than they were only 4 months ago. That’s when the dollar skyrocketed to 150 yen to the dollar simultaneous to the time my wife and I were buying furniture for our first rented apartment here.
No, I did not forecast that help. My hunch is the yen will continue to stay weak against the dollar for two reasons:
1. The Ukraine war spike in energy prices hurts Japan more because they are a nation with few natural energy sources. And sure enough this month, the Prime Minister announced they will double down on getting more nuclear reactors on-line — a change in policy.
2. As long as Toyota, Honda, and Nissan are getting hurt by the lack of new car sales in America, the yen is cannot gain much against the dollar.