MISS WELBY

Archive for the ‘JAPAN’ Category

US government securities seized from Japanese nationals, not clear whether real or fake

In AMERICA, ITALY, JAPAN on 08/06/2009 at 2:42 PM

Italian authorities have not yet determined whether they are real or fake, but if they are real the attempt to take them into Switzerland would be the largest financial smuggling operation in history; if they are fake, the matter would be even more mind-boggling because the quality of the counterfeit work is such that the fake bonds are undistinguishable from the real ones. Italy’s financial police (Guardia italiana di Finanza) has seized US bonds worth US 134.5 billion from two Japanese nationals at Chiasso (40 km from Milan) on the border between Italy and Switzerland. They include 249 US Federal Reserve bonds worth US$ 500 million each, plus ten Kennedy bonds and other US government securities worth a billion dollar each… Asia News

Bank of Japan governor says US must tackle household debt

In AMERICA, ECONOMY, JAPAN on 24/04/2009 at 11:38 AM

Japan’s central bank chief said on Thursday the United States must take “painful” steps to root out ills such as household debt to pull out of its downturn, warning that stimulus measures alone were not enough. Speaking in New York ahead of annual World Bank and International Monetary Fund meetings in Washington, Bank of Japan governor Masaaki Shirakawa also cautioned not to mistake glimmers of economic hope for a real recovery. Mr Shirakawa welcomed monetary easing and stimulus packages around the world, saying governments and central banks needed to convince the public that unpopular plans to salvage banks were for the greater good. AFP / Telegraph

Save the whale (again): Secret plan to lift hunting ban

In JAPAN, WILDLIFE on 22/02/2009 at 8:04 AM

Governments are preparing to breach the worldwide whaling ban, legitimising commercial killing of the giant creatures for the first time in more than 20 years. Key whaling and anti-whaling nations have thrashed out a plan at a series of unpublicised closed-door meetings to allow Japan to kill the leviathans for gain, after outlawing it for two decades. It is to be presented to a special meeting of the official International Whaling Commission (IWC) early next month… The Independent

Global systemic crisis – New tipping-point in March 2009

In AMERICA, ASIA, ECONOMY, EUROPE, JAPAN on 16/12/2008 at 11:16 AM

A whole range of psychological factors will contribute to this tipping point: general awareness in Europe, America and Asia that the crisis has escaped from the control of every public authority, whether national or international; that it is severely affecting all regions of the world, even if some are more affected than others (see GEAB N°28); that it is directly hitting hundreds of millions of people in the “developed” world; and that it is only worsening as its consequences reveal throughout the real economy. National governments and international institutions only have three months left to prepare themselves to the next blow, one that could go along severe risks of social chaos. The countries which are not properly equipped to cope with a surge in unemployment and major risks on pensions will be seriously destabilized by this new public awareness… Global Europe

The Worst Is Not Behind Us – Beware of those who say we’ve hit the bottom

In AMERICA, ECONOMY, EUROPE, JAPAN on 13/11/2008 at 4:58 PM

It is useful, at this juncture, to stand back and survey the economic landscape–both as it is now, and as it has been in recent months. So here is a summary of many of the points that I have made for the last few months on the outlook for the U.S. and global economy, as well as for financial markets:
–The U.S. will experience its most severe recession since World War II, much worse and longer and deeper than even the 1974-1975 and 1980-1982 recessions. The recession will continue until at least the end of 2009 for a cumulative gross domestic product drop of over 4%; the unemployment rate will likely reach 9%. The U.S. consumer is shopped-out, saving less and debt-burdened: This will be the worst consumer recession in decades… Forbes