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Re:Japan's Nikkei surpasses 1989 all-time high by grecy on Wednesday February 21, 2024 @11:09PM (#39463153)
We Canadians used to regularly talk about how cheap the US was, and load up on gas, food, beer, cheese and all the rest when staying in cheap hotels and getting cheap meals with cheap entertainment (concerts, sporting events, etc.). If you could be bothered electronics were cheap, cars were cheap, clothes were cheap, etc. etc.

In the last ~12 months I have been floored how expensive life in the US is now. I was just down two weeks ago, and everything was either the same dollar number as Canada or higher, but it's in US dollars.

I don't know how people are doing it.

Re:Japan's Nikkei surpasses 1989 all-time high by rapsey on Wednesday February 21, 2024 @11:15PM (#39463196)
They are doing it with wage growth. Inflation is likely a result of high employment levels. There are more jobs than candidates.

Personally I believe it is due to the last of the boomers retiring. Economists/analysts are not used to thinking about demographics and they have a blind spot on this ever more important topic.

Re:Japan's Nikkei surpasses 1989 all-time high by rayiner on Thursday February 22, 2024 @12:06AM (#39463455)
Supermarket prices are up 25% since 2020: https://www.cbsnews.com/news/food-prices-grocery-inflation-b.... People’s wages are not 25% higher.
Re:Japan's Nikkei surpasses 1989 all-time high by rapsey on Thursday February 22, 2024 @12:15AM (#39463499)
More people are employed however.
Re:Japan's Nikkei surpasses 1989 all-time high by iraqmtpizza on Thursday February 22, 2024 @01:57AM (#39464032)
all recent job growth has gone to the foreign-born population. native-born employment has gone down https://cis.org/Report/Employment-Situation-Immigrants-and-U...
Re:Japan's Nikkei surpasses 1989 all-time high by lotsofpulp on Thursday February 22, 2024 @02:26AM (#39464225)
What else would be expected after decades of dropping fertility rates?
Re:Japan's Nikkei surpasses 1989 all-time high by exe34 on Thursday February 22, 2024 @02:40AM (#39464313)
I suppose this isn't the first time it's happened though.
Re:Japan's Nikkei surpasses 1989 all-time high by alexb_ on Thursday February 22, 2024 @08:27AM (#39466711)
This does not matter at all because foreign-born people are exactly as much American and exactly as much of a worthwhile person as native-born people
Re:Japan's Nikkei surpasses 1989 all-time high by rayiner on Thursday February 22, 2024 @08:41AM (#39466889)
What an absurd notion. As a first generation immigrant, I’m in no way “just as American” as my wife, whose family settled the west coast in the wagon trails. That assertion reduces the concept of nationality to nothing. If my ancestors had shaped the America that exists today it would look very different!
Re:Japan's Nikkei surpasses 1989 all-time high by lotsofpulp on Thursday February 22, 2024 @09:36AM (#39467689)
Are you suggesting immigrants, especially ones that immigrate and follow the byzantine naturalization process, and build a life here, many times working the most undesirable jobs for low pay, do not shape the America that exists today?
Re:Japan's Nikkei surpasses 1989 all-time high by iraqmtpizza on Saturday March 02, 2024 @04:26PM (#39575910)
Yes, they do shape America--by making it poorer, more socialist (but I repeat myself), and less unique i.e. more like the rest of the world--low-trust societies with rain-soaked garbage strewn everywhere
Re:Japan's Nikkei surpasses 1989 all-time high by alexb_ on Thursday February 22, 2024 @08:58AM (#39467139)
> As a first generation immigrant, I’m in no way “just as American” as my wife, whose family settled the west coast in the wagon trails.

I don't know who convinced you of this notion, but it's 100% horseshit. You absolutely are just as much of an American as anyone else living here. America as a country is founded on the contributions of all of the people who moved here. The concept of "nationality" meaning you must have roots here, or that you must look like an "American", is just complete garbage. If you're a citizen, you're an American, and that's all there is to it.

Re:Japan's Nikkei surpasses 1989 all-time high by rayiner on Thursday February 22, 2024 @10:56AM (#39468950)
> I don't know who convinced you of this notion, but it's 100% horseshit.

Marrying an American and observing the massive cultural differences between our families convinced me of it.

> You absolutely are just as much of an American as anyone else living here.

Only if you’re using “american” tautologically to refer to “American citizenship.” And even then, the Constitution recognizes that naturalized citizens are less American than native-born ones, since we can’t run for President.

> America as a country is founded on the contributions of all of the people who moved here.

America is a country founded by British colonists. The country’s legal and political system, and most of its culture, comes from that founding population. Depending on the geography, there’s an overlay of German, Dutch, Italian, or Spanish culture. In specific areas, Americans that are part of the Jewish diaspora have had a significant influence. The influence of almost everyone else is localized or superficial. E.g. you can get Vietnamese or Thai food almost everywhere in the country, but the influence of Vietnamese or Thai language, culture, religion, etc., in American society at large is close to zero.

When people in my home country think of an “American” they think of people of British descent. They don’t think of Italian immigrants. Similarly, if you relocated the population of say Bangladesh to the US, and gave everyone US citizenship, they wouldn’t suddenly become “American.”

Culture matters, and a population’s culture is extremely durable: https://www.sup.org/books/title/?id=35594 (“In The Culture Transplant, Garett Jones documents the cultural foundations of cross-country income differences, showing that immigrants import cultural attitudes from their homelands—toward saving, toward trust, and toward the role of government—that persist for decades, and likely for centuries, in their new national homes. Full assimilation in a generation or two, Jones reports, is a myth.”). The American founders clearly recognized as much when they created a distinction between native-born citizens and naturalized citizens and wrote it into the Constitution.

Re:Japan's Nikkei surpasses 1989 all-time high by exclusiv on Thursday February 22, 2024 @02:42PM (#39472021)
> When people in my home country think of an “American” they think of people of British descent.

Your home county is just completely wrong in their understanding.

Top 3 Ancestry groups (2015 Census) are actually 1) German, 2) Black/African-American and 3) Mexican. English comes in #5. [1]

If you tally English/Scottish/Welsh, you are only talking about 10% of the US population is British descent. And that was from the Census in 2015. In 2020 they had a White category which was #1, and only 8.2M identified explicitly as English and 1.75M as Welsh.

> if you relocated the population of say Bangladesh to the US, and gave everyone US citizenship, they wouldn’t suddenly become “American.”

They would. You don't have to adhere to some sort of defined American culture or fully assimilate into it, it's not Denmark. If you travel to NYC, Miami, Atlanta, New Orleans, Iowa, LA, San Fran, Dallas, Seattle, you are going to get different people and experiences and cultures. I can assure you they are all very much Americans.

I'd argue that those that worry about a scale of Americanism and where they'd place their own fellow citizens are actually the least American if anything. We can call it the American Culture Paradox. Those that think they are the most American and categorize or judge others are actually the least American!

> The American founders clearly recognized as much when they created a distinction between native-born citizens and naturalized citizens and wrote it into the Constitution.

Yes because they had such massive distrust for the monarchy they didn't want outsiders infiltrating and taking over their new government and country.

[1] https://www.infoplease.com/us/race/ancestry-us-population-ra... (2015 Results)

Re:Japan's Nikkei surpasses 1989 all-time high by rayiner on Thursday February 22, 2024 @04:40PM (#39473663)
> Top 3 Ancestry groups (2015 Census) are actually 1) German, 2) Black/African-American and 3) Mexican. English comes in #5. If you tally English/Scottish/Welsh, you are only talking about 10% of the US population is British descent.

And yet, the vast majority of American language, culture, law, civil institutions, etc., come from the British. That’s why there are deep similarities between the Anglo countries on a variety of dimensions.

> They would. You don't have to adhere to some sort of defined American culture or fully assimilate into it, it's not Denmark.

You’re playing a word game where “American” is some shallow legal distinction, but “Danish” implies both a legal definition and a cultural one. Americans have a distinctive history, culture, and worldview which recent immigrants do not share. My parents were fully formed when they came to America at the age of 39. They aren’t American in anything other than a narrow legal sense. They don’t share American values, they aren’t the product of American history, etc. They are Bangladeshis—they think like Bangladeshis, embrace Bangladeshi values, etc.

My kids are markedly different in worldview and values from my parents (in ways that are often quite disconcerting to me, as an immigrant who is only halfway to American). Other Bangladeshis would instantly recognize that “your kids are Americanized.” You can chafe at the label because it offends your sense of multiculturalism, but the phenomenon exists and is instantly recognizable regardless of what label you use.

Re:Japan's Nikkei surpasses 1989 all-time high by exclusiv on Friday February 23, 2024 @12:32AM (#39477318)
> And yet, the vast majority of American language, culture, law, civil institutions, etc., come from the British. That’s why there are deep similarities between the Anglo countries on a variety of dimensions.

And yet the English language is a West Germanic language.

Culture is objectively NOT a vast majority British.

Law - so what. Civil institutions - not really. Country was inspired by Parliament and Magna Carta but devised a better foundation.

The US is nothing like Great Britain. There's vastly more impact from Italians, Irish, Germans, French, Spanish, Mexicans and Blacks in our cities than British. Almost nobody celebrates anything British in any city lol. We celebrate our victory over them and that's it. California and Texas alone are bigger than the entire UK. British descendants are just a blip on the 330M+ population.

Yet you find celebrations and cuisine and other cultures and impact from many other ancestries and heritages. US Infrastructure - Irish and Chinese built railroads. Highway system was derived from the Germans. The British are irrelevant and again, your people back home are just wrong in their understanding.

I'm not playing a word game. You have a very antiquated perspective and I don't think you quite understand America. That's not abnormal. Many you might consider way more American than you don't either.

I understand what you are saying though. I truly do. I just think it's a non-productive perspective for this country. What point does it serve to alienate and put people in a box?

I have Muslim employees. They don't partake in things that others do. It's ok. I know Bangladeshi & Indian men share a bunch of values and perspectives with southern US men over northerners in general too. They also share values with regard to hierarchy/age/position with many New Yorkers and Chicagoans.

No American citizen needs to feel so insecure because they might have different values or don't share a certain culture. People that have never left America don't share the same cultures or values either (north vs south, right vs left). We have distinct regional cultures and we have anomalies even within states (Miami, Vegas, Austin, Chicago).

Your original statement "If my ancestors had shaped the America that exists today it would look very different!"

That's the point of America. At some point there were Blacks, Mexicans, Irish and Italians that felt like that.

Life, Liberty and the pursuit of Happiness. And a general belief in exceptionalism is a tradition.

E pluribus enum - out of many, one. That's what happened. And what will continue to happen. Your British narrative is just false.

Re:Japan's Nikkei surpasses 1989 all-time high by exclusiv on Thursday February 22, 2024 @02:51PM (#39472152)
100%! I posted data on American ancestry below which is pretty eye opening.

My grandfather was an American of German ancestry and served in the 95th infantry fighting in Europe in WW2. He's just as American as the wagon trail people. And Arnold Schwarzenegger is just as American as both of them too.

Re:Japan's Nikkei surpasses 1989 all-time high by iraqmtpizza on Thursday February 22, 2024 @04:49PM (#39473766)
Actually, no. Many are not even permanent residents, let alone citizens.
Re:Japan's Nikkei surpasses 1989 all-time high by renewiltord on Thursday February 22, 2024 @12:51AM (#39463673)
For the poor, nominal wages are much higher. Bottom quintile saw 20% higher wages. https://www.dallasfed.org/cd/communities/2022/0808

Bottom decile even higher

Re:Japan's Nikkei surpasses 1989 all-time high by hughesjj on Thursday February 22, 2024 @03:36AM (#39464658)
Awesome, wish they straight up outpaced it though
Re:Japan's Nikkei surpasses 1989 all-time high by nxvk2 on Thursday February 22, 2024 @12:42AM (#39463634)
More like credit growth inspite of high interest rates.
Re:Japan's Nikkei surpasses 1989 all-time high by rapsey on Thursday February 22, 2024 @01:00AM (#39463710)
You really think this is the primary cause not a side effect?
Re:Japan's Nikkei surpasses 1989 all-time high by dexwiz on Thursday February 22, 2024 @01:42AM (#39463935)
Are boomers retiring? Both of my parents are near the traditional retirement age but are planning on working for another decade. Even boomers who do retire often get part time jobs.
Re:Japan's Nikkei surpasses 1989 all-time high by yabbs on Thursday February 22, 2024 @02:39AM (#39464308)
They wish they could but they lost their shirts in 08-09 thinking their ATM, I mean houses, would continue to allow them to do nothing and get rich like it had for the prevuois 25 years.

Worst. Generation. Ever.

~disgruntled X

Re:Japan's Nikkei surpasses 1989 all-time high by giantg2 on Thursday February 22, 2024 @06:51AM (#39465808)
"They are doing it with wage growth. Inflation is likely a result of high employment levels. There are more jobs than candidates."

There is limited real wage growth and it is mostly concentrated at the bottom end.

There might be more jobs that "qualified" candidates. Companies are still being very picky. A lot of the jobs/employment numbers we are seeing are including more part-time or low wage positions than in the past.

The inflation is mostly because of the increase in money supply in my opinion. The economy is fragile enough that the Fed is talking about a rate drop soon despite inflafion.

Re:Japan's Nikkei surpasses 1989 all-time high by foobiekr on Thursday February 22, 2024 @02:26AM (#39464223)
This was a very very brief moment when the CAD appreciated. Are you sure you didn’t just end up coming of age at a particular moment, specifically 2006-2012?

Because otherwise the exchange rate has been about where it is now to substantially worse for the rest of the data set.

Re:Japan's Nikkei surpasses 1989 all-time high by jessekv on Thursday February 22, 2024 @04:13AM (#39464871)
I read their comment differently than you did. I think the point they are making about exchange rates goes like this:

The dollar amount in CAD was normally higher than the equivalent in USD. For example, next to the bar code on the back of a paperback, it would list the prices as $15 USD or $20 CAD. Many other goods have similar price differences.

Lately in the US it seems like a lot of prices are increasing to the same number value, despite the exchange rate.

Re:Japan's Nikkei surpasses 1989 all-time high by grecy on Thursday February 22, 2024 @11:54AM (#39469777)
> Are you sure you didn’t just end up coming of age at a particular moment, specifically 2006-2012?

I'm 42, so, ah, no.

What I mean is that basically since forever things were cheaper in the US than in Canada.

Gas? 25%-50% cheaper. Cheese (of course) 50% cheaper. Electronics, cars, clothes, hotels, beer, food at restaurants, etc. etc.

Now, everything is more expensive in the US than Canada.