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Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis

 
DoomMcmuffin
User ID: 442346
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02/16/2009 09:43 AM
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Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
We are so doomed..and this is barely the beginning...
HONG KONG (MarketWatch) -- Japan's economy contracted at its sharpest pace since 1974 in its fiscal third quarter, raising the prospect the Bank of Japan may unveil additional stimulus measures this week to combat a darkening economic outlook in the world's second-biggest economy.
The economy shrank 12.7% on an annualized basis in the October-to-December period, or 3.3% from the previous quarter, according to preliminary data released Monday by the Cabinet Office.
The decline was the biggest since a 13.1% annualized contraction in the January-to-March period in 1974.
"The Japanese economy is deteriorating quite rapidly, and such deterioration is penetrating into households," said Barclays Capital economist Kyohei Morita in Tokyo.
Economists polled by Dow Jones Newswires had expected an 11.7% contraction.
Exports were down a record 13.9% on quarter, business investment fell 5.3% and private consumption eased 0.4%.
[link to www.marketwatch.com]
Anonymous Coward (OP)
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02/16/2009 09:50 AM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
Japan buys much of the U.S. debt..besides China, Jaoan buys the most..what happens when Japan and the others can no longer buy U.S. debt? Hint; you won't find the answer on this week's episode of American Idol...
Anonymous Coward
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02/16/2009 09:52 AM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
What happens in Japan happens in the USA....It takes a little while, but it will be here by the end of the year.....jmo


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Anonymous Coward (OP)
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02/16/2009 09:55 AM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
What happens in Japan happens in the USA....It takes a little while, but it will be here by the end of the year.....jmo


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 Quoting: Anonymous Coward 557177

It could be here overnight..
Anonymous Coward
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United Kingdom
02/16/2009 10:12 AM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
What happens in Japan happens in the USA....It takes a little while, but it will be here by the end of the year.....jmo


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It could be here overnight..
 Quoting: Anonymous Coward 442346



small world now..
Anonymous Coward
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02/16/2009 10:23 AM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
Shit.

How, oh how, did we ever survive the 1974 Doom????
Anonymous Coward (OP)
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02/16/2009 10:28 AM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
Shit.

How, oh how, did we ever survive the 1974 Doom????
 Quoting: Anonymous Coward 615802

The 1970's was Jimmy Carter Peanut Doom compared to what's coming..
meras
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02/16/2009 12:22 PM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
[link to www.dailymail.co.uk]

Japans finance minister at the G7
Anonymous Coward
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02/16/2009 12:58 PM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
japan is heading into another lost decade. maybe 2 this time
1-2-Follow

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02/16/2009 04:26 PM

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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
at 12.7% is fine. all it ends at the breach of 14%.
"As of 10:18 a.m. EST, on the 23rd day of July, I officially declare this the day your DOW DOOM died. 9000 has just been breached." - the 1-2

Truth is schilling in the empire of retards.

"Yep but for now we dub you toast guy." - AC520845

*PROCLAIMED PROPHET OF THE DOW* ®
Axiom-Io

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02/16/2009 04:59 PM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
Yeah, Japan is screwed. They abandoned the corporate/employee loyalty system that kept them afloat and limited the need of the government to provide an extensive "safety net" for society.

Now, along with skyrocketing unemployment and new demands on the state, the Japanese Yen is one of the few currencies that has surpassed the overly strong US Dollar. In the past, when the US dollar was strong, Japan could count on a boost from the low cost of Japanese electronics for American consumers.

Now, even as U.S. consumers are facing serious pressures, the cost of Japanese goods in the American market is increasing.

Like us, their core interest rates are as low as they can go at the same time their lending market is facing liquidity problems.
Conspiratus

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02/16/2009 06:10 PM
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Re: Japan's economy shrinks 12.7% annualized Contraction is the sharpest since mid-1970s oil crisis
Not surprising because Japan was built on an export economy-- sending its cars and electronic gizmos to Europe and North America was nearly the whole deal. Now that Europe and North America have stopped buying it was inevitable that Japan would crash. It has no more room to build a domestic boom industry in its own back yard.
This is a sign of the age of aquarius rising- the end of the industrial economy.
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