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Saturday, May 21, 2011

Japan's Recession & More Nonsense Reporting

I am astounded that the media can actually report such nonsense as what I have just seen. The headlines read: Japan Falls Back Into Recession After Quake. Are you kidding me? Japan has been in a recession for two decades. What kind of rubbish reporting is this? 


Yahoo reports:


Japan's economy plunged back into recession in January-March, contracting sharply on the impact of the nation's biggest recorded earthquake, a tsunami and a nuclear crisis, data showed Thursday. The economy shrank by a much worse-than-expected 3.7 percent year on year, marking the second consecutive quarter of contraction, which economists define as a technical recession. In the aftermath of the disasters, output saw its biggest ever fall and spending plunged while consumer and business confidence took a tumble.

Consumers have held off spending on non-essentials such as entertainment and travel.
Well, of course they did, Einstein. The mayor of Tokyo told us that we weren't to celebrate the cherry blossom season with the traditional festivities, the biggest festival in Japan, Sanjya Matsuri was cancelled, our electricity was cut in many places, and we couldn't even buy water - we still can't - in many areas.
And these Keynesian clowns think this is falling "back" into recession? They must be joking. We've been in a recession for over twenty years.
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2 comments:

  1. AnonymousMay 22, 2011 at 3:41 PM

    "We've been in a recession for over twenty years."

    Sometimes I feel a bit guilty about that. Times were good when I was there last, the Hanshin Tigers were Ichi Bon and life seemed good,... then I left Japan and took it all with me. ... And now it's here too.
    ... It's hard for me to imagine bad times over there,... the lights are too bright and flamboyant, the People were too upbeat and optimistically energetic,... that was then, and this is now. huh.

    Still can't get my mind off that photo you posted of the girl in the traditional outfit for the cherry blossom season.
    I think People must have gone mad to cancel a time where girls dress like that. How-freaking-ever, it seems madness is a worldwide affliction these days.

    ReplyDelete
  2. Murasaki ShikibuMay 22, 2011 at 5:50 PM

    BBC had an article with a similar title too and I just rolled my eyes!

    ReplyDelete

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