2012-05-30

Escape from Japan!

The Japanese collapse is proceeding.
In escape from Japan doomsday, capital takes flight
Hiroshi Kosaka has an unorthodox pitch for his realty business: instead of pictures of swanky condominiums his website features Japanese debt statistics and budget meltdown scenarios usually left to credit rating agencies.
...Increasingly, the middle class and younger people are opening bank accounts in Malaysia, New Zealand and Singapore to buy condominiums and homes that they plan to rent out for a few years before they eventually move in themselves.

"Since November, I've helped around 25 people buy condominiums at a development in Malaysia. I would classify only three of these people as rich," Kosaka says, pointing to a spreadsheet on his notebook PC.

2 comments:

  1. 50 people a year in a country of 125 million is a capital flight?

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  2. No, it doesn't constitute capital flight in the aggregate, but it reflects shifting perceptions on the margin that should grow into a larger trend given social mood. And in Japan's financial condition, it is at greater risk from marginal changes. Or differently, if Japan has a big crisis, this type of story will grow more and more common.

    The bigger story today is that doom and gloom are selling books and motivating investors (and Reuters is covering it).

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