Friday, February 4, 2011

Does the Japanese society try to inspire us to remember the 1980s?

I sometimes feel like Japanese society tries to inspire us to remember the 1980s when a lot of Japanese people were charmed by the so-called bubble economy. I feel like popular songs and things in the 1980s appear more frequently than before.

During the bubble economy, a lot of project plans were made without being examined carefully (After the bubble burst, I was forced to struggle with projects that my colleagues made during that period. I didn't understand why they made such impractical plans and realized that the bubble economy made people delusional and greedy). Real estate values in cities were dramatically escalating. The huge surge encouraged and enabled people and companies to invest by borrowing money from banks since they mostly lent you money based on the value of your real estate, which caused a speculative boom. On the other hand, some innocent, ordinary people owning properties in Tokyo were inevitably put in a difficult situation. They had a hard time paying taxes on their own houses in Tokyo. Anyway, the fabricated economic boom helped people fulfill their material desires. Many people in their 20s and early 30s at the time were willing to enjoy their youth got and accustomed to spending money on whatever they wanted. 

Now, the people who reaped benefits from the bubble economy are in their 40s and 50s. They are still expected to play an important role in boosting consumer spending. Because the prolonged recession has discouraged young people from purchasing extra things since they were born, it's natural that shops try to appeal to middle-aged people who can't help but buy impressive things.  Having said that, however, they've realized that they have to pinch pennies, so I guess that shops and other businesses try to create an atmosphere to encourage them to purchase by playing 1980's hit songs and so on.

The era that you came from seems to determine how you act, a lot more than I expected.