Watched the GM news conference today

[clifp]

Or heavy diversification out of his home market. Which would be a little easier for a citizen of Japan than a US citizen. Foreign diversification helps more when the problems are largely restricted to your home island, but less useful when the whole developed world gets hit (as it is now).

While you are right that a Japanese citizen would have been better investing in a foreign market. The value of his foreign stocks would have plummeted as the Yen dropped from the 200-250 range in 1979 to the current 90-95.

It seems to me an early retiree in Japan without a pension, would be in serious financial trouble right now.