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Japan, which boasts the second-largest economy in the world, is facing exceptionally large recessionary pressures as well, as its gross domestic product recoiled at a year-over-year rate of 12.7% in the fourth quarter of 2008. This marked the nation's worst GDP number since the first quarter of 1974, when the oil crisis helped contribute to a 13.1% collapse. The dismal figure, worse than anything posted (yet) by the U.S. or struggling European nations, also exposes Japan as among the hardest hit by a sweeping global recession. (Well, at least misery loves company). Some are speculating that the crisis could prompt Japanese officials to write up another stimulus package, which would join two packages, together worth 50 trillion yen ($545 billion), that were announced late last year.
The New York Times noted that Japan's current challenges stem largely from "shrinking exports and anemic spending at home," along with a stronger yen. Consumers from around the globe have opted against Japanese cars and electronics, delaying large purchases altogether or selecting cheaper (or used) models of vehicles, LCD televisions, or computers. For some non-traditional Japanese stocks to check out while the going is rough, take a look at Peter Cohan's posting from last week.
Beth Gaston Moon works for WeSeed.com. The above comments are not intended as trading or investment advice.
Beth Gaston Moon works for WeSeed.com. The above comments are not intended as trading or investment advice.
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Reader Comments (Page 1 of 1)
2-16-2009 @ 11:06AM
BHarrison said...
The quandary is: "What is the "bailout" stimuluses really accomplishing???
With HUNDREDS of BILLIONS of dollars being injected into FIs and corporations, who is REALLY PROFITTING or benefitting from these infusions of money? Massive downsizing and unemployment are occurring; stock holders investments have lost value, and there is virtually no RoI on T-Bill and CD money investment accounts.
It appears that all that is being done is to "replenish the fraudulent "profits" that were rpeviously defrauded out of the corporations? Otherwise, where is the "bailout" monies producing any "recovery"?
As one commentar at another site pointed out, or questioned: "Was the bailout of AIG based on the fact that the retirement of Congress and other Federal employees were insured by AIG?"
It appears that what we are seeing is the "bailout monies" being used to minimize the losses to the special interests and ultra wealthy groups. Meanwhile, Madoff (and his wife) has been treated with kidd gloves, and is still out on bail.
The special interests are still calling the political recovery efforts for their advantages . . . and the average American citizen can be damned.
Is it the same with Japan which has not been able to recover during the last decade?