Monday, August 8, 2016

Japan's huge sex problem is setting up a 'demographic time bomb' for the country

Japan's huge sex problem is setting up a 'demographic time bomb' for the country


The Japanese press has taken to calling it sekkusu shinai shokogun: celibacy syndrome.
Basically, the country just isn't that interested in sex — and it could have huge effects beyond its borders.
The most recent evidence comes in a survey by the Japan Family Planning Association, reported on in the Japan Times.
A full 49.3% of respondents between the ages of 16 and 49 in the 1,134-person survey said they hadn't had sex in the past month.
There was a minor gender variation:
• 48.3% of men reported not having sex
• 50.1% of women reported not having sex
According to Japan Times, both figures showed a 5% increase since two years ago.
Respondents gave a range of reasons as to why: 21.3% of married men and 17.8% married women cited fatigue from work, and 23% of married women said sex was "bothersome." And 17.9% of male respondents said they had little interest (or a strong dislike) of sex.
Other research suggests even more extreme trends.
According to a 2011 report from Japan's population center cited by Max Fisher at The Washington Post:
• 27% of men and 23% of women aren't interested in a romantic relationship
• From ages 18 to 34, 61% of men and 49% of women aren't involved in a relationship
• From ages 18 to 34, 36% of men and 39% of women have never had sex
Experts say "the flight from human intimacy" in Japan comes from having a highly developed economy and high gender inequality. (According to the World Economic Forum, Japan ranks 104 out of 140 countries regarding gender equality, slotted between Armenia and the Maldives).
"Professional women are stuck in the middle of that contradiction," Fisher writes. "It's not just that day-care programs are scarce: Women who become pregnant or even just marry are so expected to quit work that they can come under enormous social pressure to do so and often find that career advancement becomes impossible. There's a word for married working women: oniyome, or 'devil wives.'"
That puts a squeeze on relational prospects for Japanese women. Fisher reports that women in their early 20s have a 25% chance of never marrying and a 40% chance of never having kids.
Japan's birth rate hit a record low in 2014 at just over 1 million infants. When combined with 1.3 million deaths in the same year, that's a deepening population crisis. According to Japan's population institute, the overall population could dip to 107 million by 2040 — or 20 million lower than today.
At the same time, Japan's population is shrinking and graying, setting up a "demographic time bomb" that could radiate out globally through the country's Greece-level national debt and deep economic ties with China and the US.
The Japanese government has stepped in to help with the national trend against relationships:Prime Minister Shinzo Abe's government wants 80% of fathers to take paternity leave, same as mothers taking maternity leave — while also increasing support for childcare. And one economist recommended a "tax on the handsome" to make geeky guys more attractive to women.
Different "demographic time bombs" are set to go off around the world: In China and India, the birthrates of boys have been outpacing those of girls for such a long time that a "marriage squeeze" is starting to hit both countries.

Chinese trade data for July was a disappointment

Chinese trade data for July was a disappointment

china slowdownGOH CHAI HIN / AFP / Getty Images
Chinese trade data for July is out, and it’s missed to the downside.
According to China’s General Administration of Customs, exports fell by 4.4% in US dollar terms compared to a year earlier.
Although an improvement on the 4.8% decline registered in June, the figure missed the median market forecast for a drop of 3%.
Over the first seven months of 2016, the value of exports fell by 7.4% compared to the same period a year earlier.
In yuan-denominated terms, exports rose by 2.9% compared to July 2015, underlining the effect of the weaker Chinese yuan seen over the past 12 months.
An official from China’s Customs Bureau stated that pressure on exports was likely to ease at the start of the December quarter.
Like the performance of exports, the import figure also underwhelmed.
Imports fell by 12.5% from the levels of a year earlier, well below the 7% contraction expected. It was also steeper than the 8.4% contraction seen in the 12 months to June, and was the largest year-on-year percentage decline since February this year.
Between January to July, the value of imports skidded by 10.5% compared to the same period in 2015.
Courtesy of the weaker yuan, in local currency terms, the value of imports fell by a smaller 5.7% over the past year.
As a result of the steep drop in imports, the trade surplus grew to $52.31 billion, up from $48.11 billion in June and forecasts for a decline to $47.6 billion.
It was the largest surplus recorded since January this year.
Read the original article on Business Insider Australia. Copyright 2016. Follow Business Insider Australia on Twitter.

A bitcoin exchange that got hacked for $65 million says all its customers will lose 36% of their funds

A bitcoin exchange that got hacked for $65 million says all its customers will lose 36% of their funds

A bitcoin exchange that was hacked for $65 million says that all of its customers will lose 36% of their funds to account for the losses.
Bitfinex, one of the largest bitcoin exchanges in the world, had almost 120,000 bitcoins stolen by hackers on August 2. 
On Saturday, the Hong Kong-based business announced these losses will be "generalized" — meaning all the losses will be shared between all users, even if none of their bitcoins were taken.
In return, customers are being given digital "tokens" that record their losses, which may one day be redeemed or exchanged for shares of iFinex, the company that operates Bitfinex.
It's not yet clear what the nature of the breach of the exchange was, or who was responsible for the attack. In the immediate aftermath, the price of bitcoin dropped 20% compared to its 24-hour high — as low as $480, down from $607.
It's a huge hack — the second-largest ever successful confirmed attack on a bitcoin exchange. Back in 2014, MtGox, then the largest exchange, collapsed after $460 million in bitcoin was stolen by apparent hackers.
Ethereum — an alternative digital currency — has recently been rocked by an attack on the DAO, a decentralised organisation that ran on its blockchain. The attacker managed to obtain $50 million-worth of Ether, but the community effectively split the currency in a "hard fork" to prevent them from being able to use it.
Bitfienx is one of the biggest exchanges out there: It dominates bitcoin-USD trading, making up 50% of total volume. It also disrupts what has been a bullish year for the currency thus far. As recently as January 2016, bitcoin was trading at just over $200 — less than a third of its $740-odd June 2016 highs.

Here's the full blog post from Bitfinex, published on August 6:

"Following the theft on August 2nd, the Bitfinex team has been working tirelessly towards bringing the platform back online in a secure and controlled manner. We have finalized the accounting of losses incurred and are currently coordinating strategic plans for compensating customers.
We intend to come online within 24-48 hours with limited platform functionality. Additional announcements will be made as we progressively enable more platform features and return to full operations. We appreciate that our customers and the public want this handled quickly, but it needs to be done a way in which all assets are secure and immune from vulnerabilities. Every resource is being leveraged to make that happen in a safe and optimal way.
As disclosed in earlier announcements, all withdrawals, open orders, and open funding offers have been canceled and all financed positions have been settled. Exact settlement prices were published on August 3rd.
After much thought, analysis, and consultation, we have arrived at the conclusion that losses must be generalized across all accounts and assets. This is the closest approximation to what would happen in a liquidation context. Upon logging into the platform, customers will see that they have experienced a generalized loss percentage of 36.067%. In a later announcement we will explain in full detail the methodology used to compute these losses.
We are actively discussing various strategic options with numerous potential investors as part of our strategy to fully compensate our customers. Such discussions, however, are in early stages and will likely take time to play out. In the meantime, In place of the loss in each wallet, we are crediting a token labeled BFX to record each customer’s discrete losses. Tokens will be distributed without release or waiver. The BFX tokens will remain outstanding until redeemed in full by Bitfinex or possibly exchanged—upon the creditor’s request and Bitfinex’s acceptance—for shares of iFinex Inc. We are still sorting out many details on this; we will post further updates in the coming days.
Thank you for your continued patience and for the many generous offers of support that we have received over the last several days. Notwithstanding this attack, we continue to believe in the possibilities associated with bitcoin. We will continue to update our customers and the public as and when we can."

Airbnb is now worth $30 billion

Airbnb is now worth $30 billion

Brian CheskyAirbnb CEO Brian Chesky Kimberly White/Getty Images for Fortune
Airbnb is raising massive new round of funding that values the company at $30 billion.
That makes it the second-most-valuable US tech startup after Uber, which investors have valued around $68 billion.
Bloomberg reports that Airbnb is raising an $850 million round, bringing its total to $3.2 billion. Investors in the round have not been revealed.
The home-sharing company has been experimenting with new business areas. Earlier this week, it launched a "community center" in Japan that functions like a hotel — it will allow tourists to rent rooms — and it's experimenting with ways to provide more guidance to customers when they're planning trips. For instance, a feature called Experiences will pay locals to conduct tours of particular sights.
Airbnb is also facing increasing legal fights, which could get expensive.
In New York, the state Senate passed a bill that will prevent people from advertising short-term rentals, which would basically make it impossible for Airbnb to operate in the state if the governor signs it into law, and the company's home city of San Francisco passed legislation holding Airbnb responsible for enforcing laws related to short-term rentals.
More: AirBnB

Berkshire Hathaway earnings miss by $108 per share

Berkshire Hathaway earnings miss by $108 per share

Berkshire Hathaway reported second-quarter earnings that showed a jump in net income and a miss on operating earnings per share.
On Friday, the company headed by Warren Buffett reported operating earnings per share of $2,803 ($2,911 expected, according to Bloomberg) and net income of $5 billion, which rose 25% year-on-year.
This year, Berkshire closed a deal to buy Procter & Gamble's Duracell, and entered an agreement to acquire Precision Castparts to add to its investments.
Those transactions came as key businesses including BNSF Railway faced a slowdown in manufacturing and shipments.
Berkshire's Class A shares closed up 1.4%, or $3,180, at $218,010 apiece on Friday. They've gained 10% this year.

728 X 90

336 x 280

300 X 250

320 X 100

300 X600