Gloom and doom at the Bank of Japan

Discussion in 'Economics' started by ASusilovic, Apr 17, 2009.

  1. BOJ's Shirakawa says conditions to deteriorate

    Central bank governor warns Tokyo gathering that economy is worsening

    HONG KONG (MarketWatch) -- Bank of Japan Gov. Masaaki Shirakawa said Friday the Japanese economy is worsening and the downturn has yet to run its course, according to reported comments.

    Shirakawa, speaking at the central banks' quarterly branch managers' meeting in Tokyo, warned employment and wage conditions would deteriorate further and that company earnings and the ability to raise funds remain under intense pressure.

    "Under these circumstances, the possibility is high that the nation's economy will continue deteriorating for the time being," Dow Jones Newswires quoted Shirakawa as saying.
    The tone of the comments reflected a deep sense of gloom, raising the likelihood the central bank would revise down its growth outlook when it releases its semiannual outlook report on the economy April 30.{A18CC71E-1964-4E93-AAE9-AFB7C002D928}
  2. Who has a closer pulse on real economic activity than an export-intense (the most export-intense) economy like Japan?

    Ignore this man's words at your own peril.
  3. i rather trust this guy than helicopter BEN:mad:
  4. indexer


    Japan was dependent on the carry trade to rig its currency.
    Banks would borrow at near zero percent in Japan and reinvest in the US. With US interest rates so low, this doesn't work anymore.

    Cars and electronics are their biggest exports which are the hardest hit products.
  5. Hope our bank's do not end up like this.
  6. I'd say the Japanese banking health these days is a best case scenario for banks from the western world in the not to distant future.:)
  7. Memo to Japan & World:

    All is fine.

    Jobs don't matter, debt doesn't matter and everything will be all right.

    Green Chutes,

    Dearest Douchebag,

    Larry 'Assbrain' Kudlow