In the US people are sleeping in or just now getting up and preparing to join their families for the great annual Thanksgiving feast, on what is hands down my favorite holiday, in concept and practice. Here in Japan, it’s Thursday evening and today is nothing special. Tomorrow, however, is the national “Workers Thanksgiving Day” holiday, which ironically but possibly not coincidentally coincides with the financial market close Stateside. Japan is one of the few odd-ball countries that, like the US, doesn’t recognize May Day. This day is the tastes great less filling substitute. But I can’t quite make out whether it means that the power structure is thankful to the workers or whether the workers are given a day to contemplate their thankfulness for the benevolent power structure. Anyhow, American-style Thanksgiving or no, the wa is is vibrating in high harmony this weekend here in the northern outback of the Land of the Rising Sun. I’m hosting a Thanksgiving dinner for a group of us foreign English teachers and Japanese friends at my local community event hall. For the occassion I ordered a Hokkaido-raised 4kg turkey for 9000yen (about $82) - reflecting Turkey’s status as tourist novelty around here. The farm I ordered from last year stopped doing turkeys and this was all I could find. But the feast must go on!

I wonder how the US public is taking three dollar gas. It’s up to the equivalent of about $5.05/gallon here; this, thanks to higher taxes. But that’s good because it means that increases in the price of oil have less effect by percentage on the overall price; thus less shock to the economy. Right now we’re burning through Africa’s demand destruction but by this time next year the supply curve will start tilting south while the bidding war between the OECD countries plus China will be game on, and the US will really have to show it’s cards (and not of the credit variety). Now (or yesterday) is a prudent time to diversify retirement portfolios into gold/silver, foreign currency CDs & bonds and energy or broad-based commodity funds. Peak oil is coming on. Times will get tough. If the US can stem the tide of creeping stratification and libertarianism, and pull together in family and community, we just might avoid a complete meltdown. Let’s all be thankful for what we have, where we’ve come from, and send our best hopes for future peace and security out with every holiday hug.