Gov't says economy 'worsening rapidly'

Tuesday 20th January, 11:28 PM JST

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11 Comments

telecasterplayer at 09:29 AM JST - 21st January

What is the government going to do to immediately cushion the blow that will be felt by working families?
buggerlugs at 10:11 AM JST - 21st January

For fs sake, I'm a lowly teacher and I know this, have known for months and it gonna snowball in march/April... but those in power won't believe it yet. why do we pay idiots so much in taxes just for them to waste money on a report that my 3yr old could see the results of...
unklesam at 05:00 PM JST - 21st January

Why pray tell is Japan allowing its domestic economy to completely implode ? The answer is simple... "import" ! Start generating domestic demand by importing quality American products... sheesh, no need to travel to the US for shopping binges like they do when the government can simply lax some of its restrictions and offer up the same products right here in Japan. By doing so Japan can keep American factories running and Americans employed so they can afford them Toyotas and Sonys down the road... provided Obama doesn't step in and shut the door to J goods, like I think he will. Best act fast Nippon.. your future depends on it, China's beckoning.
cleo at 05:11 PM JST - 21st January

sheesh, no need to travel to the US for shopping binges

I have never, ever, heard of anyone wanting to go to America for a shopping binge. The members of my family who live in America have so much trouble finding anything close to home worth sending, they order Christmas presents from the UK....
usaexpat at 12:41 AM JST - 22nd January

Well the final shoe to drop is when 20% or more of people quit paying their mortgages and other debts. If a large portion of the populace falls into that mode there will be no way to evict and forclose on people and the loan holders will go under as well.
PepinGalarga at 01:46 AM JST - 22nd January

if you see a 20% foreclosure rate i think its time to open up Tent City in NYC Central Park like during the Depression. Lines of bread and soup as well..

there's no way the banks will allow people to freeload and not pay mortgage a keep their homes. If banks go down, they take everyone down with them. thats why the gov has to support those bastards.
usaexpat at 06:37 AM JST - 22nd January

PepinGalarga, you are probably right but I still think if you see those numbers people will simply become squatters in their own homes. The banks won't be able to turn that many on the street and even if they could, they couldn't sell the foreclosed houses.
unklesam at 05:01 PM JST - 22nd January

"I have never, ever, heard of anyone wanting to go to America for a shopping binge"

Ever hear of New York ? American outlet shopping malls ? Funny, the busloads of Japanese tourists I shuttle around every year have ! FYI Cleo... more than 3.4 million Japanese travel to the USA every year ! Gee, wonder what they could be up to ... an oishii burger ? Yes, and then some. Too bad yer relatives live in one of the worlds most open markets yet still can't find anything worth sending... seems to be more of a commentary on the bloodline than the nation... smirk.
cleo at 05:10 PM JST - 22nd January

unklesam -

No need to go to New York for the shopping malls or the burgers, the outlets are here in Japan already. I imagine the majority of that 3.4 million are not there primarily for the shopping - never heard of sightseeing? And you a bus driver?

The rellies think living in the US is great. But there's not, apparently, much worth spending postage on. Most 'Made in America' stuff is made in China these days anyway. Stuff worth buying at least, like Apple.
mrgalactic at 04:26 PM JST - 23rd January

Unklesam is exactly right. Japanese tourists continue to flood US shores dumping millions of dollars into the US economy every year, common knowledge, so I thought. I recently traveled to the US and purchased a baby stroller for $70 US. Ichecked the prices here in Japan for the same model, 46,000 yen ! No wonder Japans economy stinks.