・Now all real estate information has been converted into data, and AI can calculate appropriate property prices from location, number of tenants, and even create business plans. Nevertheless, human work exists because AI cannot fully read the irrational actions of humans, such as landowners' family relationships and feelings about the property. This is an advantage left to humans (P25)
・The United Kingdom decided to leave the EU in a referendum in 2016 in order to resolve the immigration issue, but in fact, the number of immigrants increased after that. Similarly in Japan, including foreigners with foreign roots who have naturalized in Japan, the ratio of foreigners is approaching 20%, and Japan is steadily on the path to becoming an immigrant nation (P27)
・According to the 2023 estimate of the Institute for Population Studies, the aging rate of people aged 65 and over as a share of the population will rise until 2070, and the number of people who cannot acquire wealth from the labor market will increase over the next 40 years or more. It is an inconvenient reality for the future of Japan that even if real wages increase, the household income of society as a whole will decrease due to aging (P42)
・Looking at the relationship between social security contributions and benefits per household, contributions can be divided into “taxes” and “social insurance premiums,” payments can be divided into “pension benefits,” “medical care,” and “others,” income before redistribution is about 3.84 million yen, redistribution income is 4.67 million, and real income 2.83 million yen (P44)
・Responsible and active finance with high municipal authority is in a position close to MMT (modern monetary theory), and the theoretical basis is that a government with a sovereign currency issued by national credit can issue any amount of its own currency, so it is said that “payments denominated in its own currency will not go bankrupt financially” (P55)
・An interest rate is the “price of time,” which is explained as a train fare for a time machine. It takes 30 years by simple calculation to save 1 million yen and save 30 million yen every year, but there is also a possibility that children will have left home independently by that time. Here, you say “I wish I had a time machine” and sigh, and banks don't let you use a time machine that exceeds time and space for free, but in order to use it, you need to pay train fares to the bank, and this is interest rate = the price of time. Interest rates are the sum of “the cost of time that must also be paid” and “credit risk that may not be repaid” (P 67, 68, 72)
・The Bank of Japan's buying operation has the effect of lowering interest rates by increasing the amount of currency issued. When a sale operation is performed, the amount of currency issued decreases and interest rates rise (P89)
・The average 65-year-old pensioner's asset portfolio is 15 million yen in financial assets, 30 million yen in pension assets, and 20 million yen in real estate assets (P123)
・Margin trading is regarded as gambling that amateurs should not dabble in, but strangely enough, buying one's own home with a mortgage cannot receive the same criticism. Since the down payment at the time of real estate purchase is generally 20%, leverage is 5 times higher than stock margin trading = 3.3 times. What is even more different is that when individual investors trade stocks on margin, it is almost 1 million yen, but in the case of a home, the price is tens of millions, and there is a difference of tens of times the investment amount (P182)
・America is a much more liberal society than Japan, and recruitment, promotion, and salary increases cannot be decided based on attributes such as race, nationality, gender, sexual orientation, etc. In that case, the evaluation criteria are only those that can be acquired through the person's efforts, that is, human capital that can be quantified as “educational background/qualifications/achievements.” If you do this, the gap due to educational background will widen between college graduates and non-college graduates (P248)
