Japan Red Cross President Says This is Worst Since WWII

"After my long career in the Red Cross where I have seen many disasters and catastrophes, this is the worst I have ever seen. Otsuchi reminds me of Osaka and Tokyo after the Second World War when everything was destroyed and flattened," Japan Red Cross President Tadateru Konoe told Reuters during a visit to the coastal town.

[link to economictimes.indiatimes.com]

Also from the article...

"Some analysts said the damage caused by the disaster was so severe and the potential cost was so high -- by one estimate over $170 billion in just the area directly hit -- that it could even tip Japan's economy back into recession."