The view from our office and thoughts on bubbles

As seen in the picture above, this is the view from our offices in the Marunouchi district of Tokyo. As I look out, I thought about the current economic mess that resulted from, among other things, the bursting of the real estate bubble in the U.S. My mind turned immediately to the strip of land before me, the Imperial Palace grounds. During Japan's heyday, some valued the 2.1 square miles of Imperial Palace land MORE than the entire real estate available in the state of California.

When put in its proper perspective, as seen in the red-circled land below, it is ridiculous that a strip of land so small could equal the value of land in a state that has the 7th largest economy in the world. But that's what people were saying. This underscores how easily asset bubbles can quickly get out of hand when investors form irrationally lofty expectations and greed clouds the better judgment of otherwise smart people. It makes me think that it might take some time for the global economy to be able to unwind and regroup from the mess that we're currently in.



Now that we're hitting winter time, the air is a lot more crisp and clear, which allows us to have these splendid views from our 33rd floor reception area. The jewel of our view, however, is Mt. Fuji, which can be seen off in the distance only on clear days, and usually then only in the morning.

When in Japan, work as the Japanese

The Japanese language can be a psychologically humbling language - and not for the obvious reason of it being a difficult language to learn. There is a forced humility in the certain words and phrases that one uses.

Case in point, I leave for home each day around 7:30 PM. As I pack up and walk towards the door, I say, "saki ni shitsurei-shimasu" or translated literally, "please excuse my rudeness for leaving before you." Everyone that is still there replies, "o-tsukaresama deshita" or "you were a hard worker." It's not as awkward as it sounds, it's just a cultural norm replaces saying goodbye or goodnight.

But the fact that they don't simply say goodbye and goodnight in and of itself is telling. Japan as a society values working late, which value has been ingrained into millions of workers. It's not just about getting work done, but it's also about 'doing the time.'

And while I'm of the first to get to work, there aren't any accolades that come to those who come early...just those who stay late it seems. Only the last one home avoids having to apologze for leaving before the others.

I tried to work my hours, early in - early out, but when I would leave for the night the cynic in me hears a more sarcastic reply of coworkers who are stuck having to work, and in their minds are saying "o-tsukaresama deshita...NOT!" Because of that vibe that may or may not be there I changed slightly my hours - not working any more or less, but being there later. We'll see how it goes.