Posted on 03/18/2011 3:27:45 AM PDT by 1010RD
LAST Friday, Mother Nature dealt Japan a cruel blow in the form of a 9-magnitude earthquake along the north-east region of Sendai.
The earthquake triggered a massive 10m-high tsunami which has added to the colossal damage. Now the country is facing the threat of a possible meltdown of several nuclear plants.
As Nobel prize-winning economist Nouriel Roubini has put it, the disaster came at the "worst time" as Japan struggles to reduce its massive debt.
However, in the first day of trading after the disaster, the country's currency actually strengthened to 80.60 yen (S$1.2464) against the US dollar - less than 100 pips from its all-time low of 79.75 recorded in 1995.
There are two reasons to explain the yen's strengthening:
Low interest rate
Fund repatriation
(Excerpt) Read more at business.asiaone.com ...
There's more at the site.
This morning I hear that the G 7 has decided to lower the value of the yen to make exports more attractive. This will help the country’s economy in the short term.
no need to read any past that point, convinced me they did not know much.
I’d forgotten just how smart you are.
Yes and the response is reasonable. The disaster in Japan is enormous and has rattled the people and the markets.
G 7 acting while the empty suit is talking brackets.
Obama’s slow melt-down seems unbelievable. He was an empty suit to start with, so what are his political masters at?
There’s a lot of money to be made from disasters, natural and man-made.
Once the pansy signalled weakness the world’s despots took notice.
BRING BACK THE COYBOY!!!!!
Every action of Obama on the world stage projects his moves. He’s obvious. Who gains from that?
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