Japan's economy went into recession in November '07: Cabinet Office

[FG Lurker]

Japan's economy went into recession in November '07: Cabinet Office
Mainichi Daily News, January 8, 2009

The Cabinet Office is set to officially declare that Japan's economy, which began to pick up in February 2002, peaked in October 2007 and went into recession the following month, after consulting with an expert panel on Jan. 29.

[...]

Experts say they cannot predict when the economy will bottom out.

(Full Story)

Maybe this will finally start to weaken the yen a bit? I can always hope...

[Buraku]

[FG Lurker]

[GuyJean]

The US only admitted they dropped into 'Recession in December 07' last month.. I guess the 'war on terror' can't get us out of this one.

* edit: to correct proper month..

GJ

[Iraira]

The US only admitted they dropped into 'Recession in November 07' last month.. I guess the 'war on terror' can't get us out of this one.

GJ

There's only one solution to the mess, attack China!:banana:

[GuyJean]

There's only one solution to the mess, attack China!:banana:

Nah.. Just waterboard them till they buy all our debt.. Oh, wait..

GJ

[Buraku]

All Ur Fedz R belong 2 us!

yeah that's right we should look at it from another perspective.
Chicken little was way wrong
The sky ain't falling

Its just the ground is rising real quick and its going to smack into our face real fast

Europe its gas again and they are already fuel rationing over some Russia/Ukraine bullshit. Europe might dodge a bullet this time but by 2010 it will be real trouble in the euro energy industries. The British have cut their bank interest rates to their lowest levels in 3 HUNDRED years!!

USA will be paying for the Iraqi money hole for years, Nobel Prize-winning economist Joseph Stiglitz estimates it a "Three Trillion Dollar War"
Bush has sabotaged Y 2009 for Obama, Bush has already burned away 1.1 Trillion dollars from 2009 before Obama even enters office.
1,100 billion has already been pissed away before the day has even begun!
Then to prevent something like a depression Obama wants to bailout the economy with a 900 billion dollar stimulus.
1,100 billion and 900 billion, Add another 2 Trillion to the debt clock
NO FUCKING PROBLEM
Obama has basically been set up for a fall by the Bushes and Clintons.

The Fed's Bernanke won't be happy until he devalues the Dollar into some kind of Peso
un chien andalusia wanna grow up to be be a debaser

top it all off
http://lolfed.com/2009/01/04/marshall-plan-20/
Japan is worried about another trillion dollar collapse
http://lolfed.com/2009/01/04/marshall-plan-20/

[yt]-rLYph0J7vc[/yt]
yeah that's right happy hour starts early this morin'
and the economy is just going fine!

[GuyJean]

I beginning to see a pattern..



Let get this war ON!

GJ

[wuchan]

I ran into some gentlemen over the last few months that just happen to work for banks, investment firms, and other economic type companies. A very international group of people. They all had the same opinion: everyone is fucked. By this they mean EVERYONE, not just the US. They all had the same opinion about a solution: everyone should help prop up the #1 economy, or at least not pull their money out. Basically they mean that everyone is bitching that no one is spending but everyone seems to be entertained by the problems that the US is having. WTF????

Bottom line is that we are now operating in a global economy and if the biggest customer closes its wallet, everyone suffers. So, instead of bitching about it, bite the bullet. Take a year or two of lower profits by not jacking up prices, import/export taxes, and don't pull all your cash out of the US out of panic and maybe we all can pull out of this.

[GuyJean]

I ran into some gentlemen over the last few months that just happen to work for banks, investment firms, and other economic type companies. A very international group of people. They all had the same opinion: everyone is fucked. By this they mean EVERYONE, not just the US. They all had the same opinion about a solution: everyone should help prop up the #1 economy, or at least not pull their money out. Basically they mean that everyone is bitching that no one is spending but everyone seems to be entertained by the problems that the US is having. WTF????

Bottom line is that we are now operating in a global economy and if the biggest customer closes its wallet, everyone suffers. So, instead of bitching about it, bite the bullet. Take a year or two of lower profits by not jacking up prices, import/export taxes, and don't pull all your cash out of the US out of panic and maybe we all can pull out of this.

These are guys are probably living on expat packages. By 'everyone' being fucked, they mean 'them'..

You think a Bolivian accustomed to living in a shack is going to suffer by living in a shack.. with no job? It's the people 'prospering' on debt that will suffer.. Most of the living world have already adjusted to being 'fucked'..

GJ

[wuchan]

Most of the living world have already adjusted to being 'fucked'..

GJ

And that's why nigerians come to japan?

*edit: I knew I was fucked from the beginning.

[GuyJean]

.. [yt]-rLYph0J7vc[/yt]
yeah that's right happy hour starts early this morin'
and the economy is just going fine!

I had to watch the whole video, with lifted quotes, 'convenient' edits, and subliminal messaging to find out it's a Ron Paul election video?..

Great song. Ok video; I couldn't understand most of the out-of-context quotes and what solutions did Ron offer? Blame it on Bernanke? On the devaluation of the US currency?

Maybe the US dollar was inflated and needs to be popped? If wealth is based on nothing but debt, then shouldn't that wealth be devalued?

GJ

[GuyJean]

And that's why nigerians come to japan?..

And they will suffer if they have to return?.. I bet they can sustain themselves better than most Americans who are evicted from their $300,000 homes..

GJ

[GuyJean]

(note to self: proofread own comments when posting while intoxicated )

Not sure why I was debating the basic points I generally agree with; we're all fucked!



GJ

[Adhesive]

[Bucky]

All of my mutual funds are down 40%-50% since 1/1/08.:wall:

[Buraku]

[leitmotiv]

Yen Gains to Record Versus Pound on Concern Bank Losses to Rise

http://www.bloomberg.com/apps/news?pid=20601087&sid=a8O7w8no98uE&refer=home

Brutal comments from the Jim Rogers character. I actually read up on him earlier today as his bullish-on-china comments were in the Boston Globe.
http://www.boston.com/business/articles/2009/01/19/despite_crisis_jim_rogers_is_still_a_china_bull/

Money quote: "Rogers began his speech by showing pictures of his two young children, both of whom he said have Swiss bank accounts and speak Mandarin."

Apparently he recently relocated from NYC to singapore so his kids will be fluent in mandarin. China and Taiwan are ruled out because of pollution and complex old-style chinese, respectively. http://www.mysinchew.com/node/13297?tid=14

[Buraku]

[FG Lurker]

Never-ending nepotism?

He's been working at Toyota for about 25 years, starting very low and working his way up. I have no doubt that his name helped his rise but it's not like they pulled him out of a closet, dusted him off, and stuck him in the top post.

[Catoneinutica]

Brutal comments from the Jim Rogers character. I actually read up on him earlier today as his bullish-on-china comments were in the Boston Globe.
http://www.boston.com/business/articles/2009/01/19/despite_crisis_jim_rogers_is_still_a_china_bull/

Money quote: "Rogers began his speech by showing pictures of his two young children, both of whom he said have Swiss bank accounts and speak Mandarin."

Apparently he recently relocated from NYC to singapore so his kids will be fluent in mandarin. China and Taiwan are ruled out because of pollution and complex old-style chinese, respectively. http://www.mysinchew.com/node/13297?tid=14

Jim Rogers, Peter Schiff, and a few others outclassed their colleagues by recognizing the blinding obviousness of the fact that a credit crunch was approach (even I had been foreseeing it in FG posts going back to 2006). Time magazine's "Home Sweet Home" cover in July or August '05 was massive warning sign - Americans, Brits, et al, with the obliging help of bankers, were using their rising equities to go on a spending binge. It should be noted that Rogers and Schiff are not a perma-bears like James Grant, so it's not a matter of them being right at least once in a cycle, like a broken clock.

If you have an investment advisor/broker, and he didn't advise you to start trimming your exposure to equities back in '06 or '07 or even '08, I'd give him the boot - by with I mean I'd tell him to bend over so I could stick the boot straight up his ass.

[FG Lurker]

Japan Growth to Slow as Unemployment Rises, Production Drops
Bloomberg, July 30, 2010

Japan's unemployment unexpectedly rose for a fourth straight month and industrial production fell the most in more than a year, signaling the economic expansion is poised to slow.

The jobless rate climbed to a seven-month high of 5.3 percent in June, a statistics bureau report showed today in Tokyo. Factory output slid 1.5 percent from May, compared with the median forecast in a Bloomberg News survey of economists for a 0.2 percent gain. Meantime, consumer prices excluding fresh food declined 1 percent from a year before.

[...]

"We have to start worry about a slowdown," said Junko Nishioka, chief economist at RBS Securities Japan Ltd. in Tokyo. "Kan will be forced to shelve pursuit of fiscal consolidation and the Bank of Japan will also come under more pressure to take additional monetary policy action."

The yen climbed and stocks fell as today's figures signaled a diminishing investor appetite for risk. The Nikkei 225 Stock Average dropped 1.5 percent to 9,550.18 at the morning close in Tokyo. The yen strengthened to 86.36 per dollar, after reaching 86.25, the highest level since Dec. 1.

(Full Story)

"Start to worry about a slowdown" ?!??

My office is in an area with a lot of small businesses around and the general atmosphere is very very similar to early 2009 when things really started to come off the rails here. No one is making any money, everything is grinding to a halt yet again. I hope I'm wrong but it really feels like the second leg of this clusterfuck is underway.

[Samurai_Jerk]

Japan Growth to Slow as Unemployment Rises, Production Drops
Bloomberg, July 30, 2010


"Start to worry about a slowdown" ?!??

My office is in an area with a lot of small businesses around and the general atmosphere is very very similar to early 2009 when things really started to come off the rails here. No one is making any money, everything is grinding to a halt yet again. I hope I'm wrong but it really feels like the second leg of this clusterfuck is underway.

Do you think it's the second leg of a Japan clusterfuck or a global one?

[Screwed-down Hairdo]

Thanks for spoiling my day guys...

[FG Lurker]

Do you think it's the second leg of a Japan clusterfuck or a global one?

IMO this is a global slowdown of all "developed" economies. It remains yet to be seen if this slowdown is a bump in the recovery or if the recovery was just a bump in the depression. I sure as hell hope it's just a bump in the recovery 'cause the second scenario isn't something I want to dwell on.

[FG Lurker]

Thanks for spoiling my day guys...

Sorry Hair... It's spoiling my day too, if that's any consolation. This entire month has been one big clusterfuck actually.

[Screwed-down Hairdo]

Fucking hell...this is not good news. Especially as the past couple of years have taught me that I'm a useless, middle-aged fuck who's barely employable.

[Taro Toporific]

Fucking hell...this is not good news...

Well, what the fuck did you expect? The handwriting has been on the wall since the "Lost Decade" 19 years ago.


The primary problems of dead-Japan(tm) are that the Japanese have always hated to take chances entrepreneurially. Now that the average age of Japanese people is close to 60 years in many areas like mine in here in Tokyo, it is unreasonable to expect the Japanese to want to do anything but enjoy their twilight years while Japan fades away with their world's-No.-1 negative birthrate and world's 2nd highest national debt ratio.

[Yokohammer]

Now that the average age of Japanese people is close to 60 years in many areas like mine in here in Tokyo, it is unreasonable to expect the Japanese to want to do anything but enjoy their twilight years while Japan fades away with their world's-No.-1 negative birthrate and world's 2nd highest national debt ratio.

This is one of the things that gets my pissed-o-meter pinned. The politicians and bureaucrats seem to be doing exactly the same thing: take no risks in order to avoid rocking their own comfy little boats. "In a few years it wont be my problem" ... "someone else will take care of it" ... just sitting on their fat asses while the country they claim to love sinks deeper and deeper into the bog. The only time they get active is when some upstart actually tries to do something. Then they'll do anything they can to stop progress. At least so it seems.

Hmm ... I seem to be in a negative mood this afternoon ... must be time to pop a bottle of cheap red wine.

[FG Lurker]

Fucking hell...this is not good news. Especially as the past couple of years have taught me that I'm a useless, middle-aged fuck who's barely employable.

If the past couple of years have taught me anything it's that I don't have any fucking clue about global economic trends. I quit a well paid job in July 2008, a couple of months before the shit really hit the fan but far enough into 2008 that the writing was on the wall if I had bothered to look. The real kicker is that I quit that job to focus on building an export business that sells expensive and non-essential consumer items. Yeah, a great way to ride out the biggest recession since the 1930s (or the first depression since the '30s, depending on how it works out in the end.)

So, while I'm only commenting based on what I see going on around me, keep my track record in mind before getting too depressed based on my economic ramblings.