Posted on 02/25/2009 11:28:16 AM PST by GOPGuide
The ferocity of the slide adds to fears that the world's second biggest economy is tipping into a self-feeding spiral after contracting at annual rate of 12.7pc in the fourth quarter. A deflation 'mind set' has begun to gain a grip on the Japanese psyche once again. The government said land prices have fallen by an average 12pc in Tokyo, Osaka, and Nagoya since October.
"We don't sees any signs of an early recovery," said Takeshi Minami, chief economist for the Norinchukin institute. "Exports to Asia and especially China have crumbled just as badly as those to the US. That tells us that China's economy is most likely wilting."
The data confirms the picture emerging across the Pacific Rim that shipments to China from every country are in free-fall. It is hard to reconcile this with the optimism of commodity funds betting that a V-shaped rebound in Chinese industrial demand will soon lead to a fresh cycle of rising metal and oil prices. Much of the Chinese monetary stimulus over recent weeks appears to have leaked into speculation on the Shanghai bourse rather than stimulating consumption.
Pascal Lamy, the head of the World Trade Organisation, said yesterday in Tokyo that the global economy was "not even half-way through" the crisis. "Never before have we seen an economic shock of this magnitude. Japan is particularly vulnerable because trade is so central to the economy."
(Excerpt) Read more at telegraph.co.uk ...
My dad's friend ask him when he was going to replace his 20 year old Toyota.
He said never, it's built so well and I like it so much, aggressive maintenance should keep it healthy well past 500,000 miles and I drive less now.
According to his math that car could easily go another 20 years.
I think lot's of people are thinking similarly.
Back in 2006 I said this could get as bad or worse than the GD. At the time, my intellect believed that, but my emotional side thougt it was unconscionable.
I now believe, both intellectually AND emotionally, that it WILL be worse than the GD and very much global.
The entire world is in an economic death spiral. This will most definitely lead to social unrest and war. The only questions are
1.how much?
2.how big?
3. What “hitlers, Tojos and Musssolinis” will this produce and in what countries will they rise to power?
“land prices have fallen by an average 12pc in Tokyo, Osaka, and Nagoya since October.”
Wow, so now you can get a small lot in Tokyo for around 9 billion dollars.
Personally, I think this will all lead to the rising of the man they call the Antichrist, who will appear to save us all from this economic downward spiral. It could be God setting it up, or it could be our own government. The result will probably be the same. We’re toast, LOL.
Well, we’re not ALL toast. Read Revelation 7.
I have wondered for over a decade if Revelation 18 is speaking of the US. I mean 18:11 basically says all the trading nations are gonna watch, from ships at sea, the nation burn and they’ll be asking, “Now who is gonna buy all our stuff?”
At this particular time in history that sure sounds like the US.
I’ll check that out. America has blown it with gay marriage, abortion, homosexuality, adultery, pornography, etc. Sounds like we have a Babylonian culture. Our country needs much prayer. I hope it’s not too late for our America to turn back to God.
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