Mitsubishi to post first ever net loss

Overlooked in all of this is the real problem. The real problems are not the prices of oil, metals, or anything else, but the underlying lack of demand which is causing the decreases.

According to our fearless leaders, everything is rosy. They claim unemployment is low, that deficit spending trillions of dollars has resulted in "recovery", and that we are all in the fast lane to growth and good times.

But falling commodity prices mean falling consumption. Falling consumption means falling profits, falling wages, and deflation. This also means falling tax revenues when government spending and government debts are at all time highs.

We are in for some interesting times indeed.

We are in for some interesting times indeed.

yes indeed, govt says "economic fundamentals remain strong" !

yeah right, japanese companies can not book their books anymore

The large trading companies like Mitsubishi, which have their own banks, insurance companies, etc, have long been able to manipulate their books, shift profits, loses, roll over debts, to a degree that one else, save national governments, can. That things have reached a point that even these practices cannot be used to absorb or conceal losses is more than a little alarming.

Even worse is that recent government projects, like easing monetary policy, and stimulus spending have primarily benefited these conglomerates. And for all the debt and devaluation incurred, and paid for by the Japanese people, it still hasn't been enough.