Wednesday, Feb 25, 2009
Any rational person could be forgiven for thinking that this whole edifice of illusion will collapse
BBC: Japan exports drop 45% to new low
"Any rational person could be forgiven for thinking that this whole edifice of illusion will collapse" greytornado HPC 25-02-09 ~~~~
Japan also had a trade deficit of 952.6 bn yen ($9.9bn; £6.8bn), the lowest figure since records began in 1979.
The demand for Japanese cars in particular dropped by 69%.
Demand for electronics and other goods has also slumped as global economies and consumer spending contract, pushing Japan deeper into recession.
Serious crisis
Japanese exports to the US, which is at the centre of the slide, fell nearly 53% in January while shipments to the European Union retracted by 47%, Japan's finance ministry said.
Posted by troy @ 06:09 AM (695 views) Add Comment
9 Comments
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1. troy said...
"In the midst of the deluge of bailouts, rescues and stimulus packages there is no clear communication as to just why these measures are being taken and how they are meant to improve the lives of ordinary people. It is abundantly clear that this is deliberate. If we, the normal people of the planet, were to gain a common understanding of what is really happening, we would decide that we don't approve, we would agree on exactly why we don't approve and we would likely agree on what we wish to see happen instead." Simon Davies
http://www.bbsradio.com/cgi-bin/webbbs/webbbs_config.pl?read=25996
"With this in mind, let us return to the matter of confusion. It seems to us that the immense confusion surrounding the economic crisis is a key to perceiving the Matrix. It seems to us that those that run the world, the Managers, are relying on this confusion to ensure that we take a particular path which is to their advantage."
2. matt_the_hat said...
Its all over, the train is crashing in slow motion
3. it_is_going_with_a_bang said...
"US President Barack Obama and Mr Aso have agreed to work together to stimulate economic demand and fight protectionism as the latter visits the US. "
This is coming from a president who just pushed through plans top make sure his biggest spending plan only bought US goods ??
Or did I get that wrong?
4. Eternal Sceptic said...
We have just had the big bang theory demonstrated-now we are about to see the reality of a black hole. Oh dear!
5. paul said...
I should say though that the BBC always overcooks Japan's economic situation, mostly to make the UK's situation look better than it is.
This is a 45% fall in exports to the US and UK. That is bad but it should also be remembered that the largest market for consumer goods in Japan is japan itself, and the second largest is trading partner is China.
6. 51ck-6-51x said...
Paul, you are right, but Japan's domestic market isn't doing too well either.
Troy, I don't really agree with the statement from Simon Davies.
"A common understanding" - well OK, if we all had a common understanding, yes, but that makes his statement a tautology, so I don't think that is what is meant.
What we could really have is a common knowledge of all the data (like any supposed overlords have) and in that case I think that we would argue over what the data mean, what the economic impact would be and how to approach the problems we face. Furthermore some would argue against others simply because of their conflicting interests as implied by their current positions in the economic system, because some people are just selfish.
7. troy said...
5. 51ck-6-51x
"Troy, I don't really agree with the statement from Simon Davies."
666 ~~~~ I agree with your comments.
8. Si said...
The fact that we're importing 47% less... doesn't that say more about our economy?
9. paul said...
51ck-6-51x, there's no data in this report relating to domestic demand, probably because its not doing as badly as the export markets, so isn't quite as interesting for the BBC. I agree its probably not doing particularly well though.