Japan

Yakuza: ‘We Have To Evolve Our Business Model’

by Wolf Richter •  • Comments Off on Yakuza: ‘We Have To Evolve Our Business Model’

“And we have to improve our image,” said Masatoshi Kumagai, one of the bosses of the Japanese yakuza, in an interview with French reporters. Yakuza are on decline, he said, and if they don’t change their business model, they might cease to exist.

Tokyo Tidbit: Disaster Specials

by Wolf Richter •  • Comments Off on Tokyo Tidbit: Disaster Specials

An earthquake struck Tokyo around noon on September 1, 1923, while people were cooking lunch over open fires: Over 100,000 people burned to death in the city “built of wood and paper.” Now, September 1 is “Disaster Prevention Day.” And it’s time to go shopping for foldable helmets.

Tokyo Tidbit: Permit Required For Deadly Pitfall

by Wolf Richter •  • Comments Off on Tokyo Tidbit: Permit Required For Deadly Pitfall

Birthday surprise for her husband: a woman and five friends dug a deep hole on a beach in Ishikawa Prefecture, put mattresses at the bottom, covered the hole with a plastic sheet, and sprinkled sand on it. Her husband would fall in and everyone would have a grand old time. The outcome was tragic. And they didn’t even have the required permit.

Downgrades Don’t Matter

by Wolf Richter •  • Comments Off on Downgrades Don’t Matter

… if you can print money and are in control of the credit markets. Look at Japan. That doesn’t mean the underlying problems don’t matter.