A look at why the yakuza hitting the books is a sure-fire sign that the economy is hitting rock bottom, by Bloomberg’s William Pesek, with added flavor from Jake Adelstein.
Oct. 7 (Bloomberg) — Japan’s underworld can tell you a lot about what’s happening in the legitimate economy.
Gangsters are on the run as growth wanes and deflation worsens. Yet the oddest development by far involves yakuza members sitting for exams covering key aspects of their work.
If you think this is just a law-enforcement issue, think again. It’s a sign Japan’s funk will be longer than economists predict. That may surprise those betting Japan is recovering. Oddly, though, the plight of gangsters tells the story.
Huddled over legal texts and documents isn’t the popular image of Japan’s storied mobsters. When they aren’t collecting debts, shaking down shop owners, overseeing prostitution rings or rigging stocks, members of Japan’s biggest organized crime group, Yamaguchi-gumi, are studying for 12-page tests.
The PR manager of a well-known celeb management office was arrested and a warrant put out for the company representative on July 26 on charges of attempted fraud in connection(…)
A member of the Inagawa-kai was arrested for possession of stimulants and cannabis after being discovered carrying 19.5 grams of stimulants and 29 grams of marijuana on his person July(…)
It was announced that a kindergarten teacher has been arrested in Higashi-Murayama city for indecent assault and creating child pornography. The 28-year-old male teacher reportedly molested a fourth-year student in(…)
Voice actor for the popular anime One Piece, Norio Imamura, was arrested July 12 for displaying photos of the lower half of his body on his blog. According to police,(…)
A traditional tattoo artist, or horishi, was arrested July 10 for accepting money for tattoos without the proper medical license under violation of the medical practitioner’s law. The 36-year-old Hyogo-based(…)
Economics 101: The Yakuza Barometer
A look at why the yakuza hitting the books is a sure-fire sign that the economy is hitting rock bottom, by Bloomberg’s William Pesek, with added flavor from Jake Adelstein.
Oct. 7 (Bloomberg) — Japan’s underworld can tell you a lot about what’s happening in the legitimate economy.
Gangsters are on the run as growth wanes and deflation worsens. Yet the oddest development by far involves yakuza members sitting for exams covering key aspects of their work.
If you think this is just a law-enforcement issue, think again. It’s a sign Japan’s funk will be longer than economists predict. That may surprise those betting Japan is recovering. Oddly, though, the plight of gangsters tells the story.
Huddled over legal texts and documents isn’t the popular image of Japan’s storied mobsters. When they aren’t collecting debts, shaking down shop owners, overseeing prostitution rings or rigging stocks, members of Japan’s biggest organized crime group, Yamaguchi-gumi, are studying for 12-page tests.
Yakuza’s Series 7 Exam Is Harbinger for Economy [via Bloomberg]