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Japan in Recession November 17, 2008

Posted by neoavatara in Politics, World Politics.
Tags: , , , , , , , ,
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recession

http://money.cnn.com/2008/11/16/news/international/japan_recession/index.htm?postversion=2008111620

http://money.cnn.com/news/specials/storysupplement/global_crisis/index.html

Japan’s economy has receded 0.4% for 2008…a harbinger of the coming declaration of ‘official’ recession status in the United States.  The Eurozone as a whole, as well as Italy, Germany, and England have already declared active recessions, and it is thought that China is well on its way.

Interestingly, the Nikkei was slightly up this morning.

And the G20, in all of its glory, issued a statement equivalent to a yawn…The G20 statement said that all financial markets, products and participants would be subject to supervision, vowed tougher accounting rules, a review of compensation practices and greater cooperation between national regulators.

http://www.cnbc.com/id/27756407

Yes, I suggest we all hold our collective breaths…

More fun times to come…

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