Aso concerned as Japan's first quarter GDP shrinks at record pace

Wednesday 20th May, 11:56 AM JST

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apecNetworks at 06:14 PM JST - 20th May

The underlying situation in the US is not good, but the Japanese economy is relatively stable. We will see if the stimulus package is well thought out - the situation could have been worse.
smithinjapan at 06:42 PM JST - 20th May

Private consumption decreased??? What happened to the whopping 12 thousand yen Aso gave to everyone. Ungrateful bas-ards, that lot of 'em! :)
gogogo at 07:32 PM JST - 20th May

How about not sending billions of yen overseas first.
cleo at 08:27 PM JST - 20th May

What happened to the whopping 12 thousand yen Aso gave to everyone.

Still waiting for it....
yabits at 09:34 PM JST - 20th May

Japan appears very masterful at producing inept leaders.

Perhaps the Japanese people want it this way, or they would muster up whatever it takes to change things.
gonemad at 09:43 PM JST - 20th May

We have to take appropriate actions

This is the officially used expression for "we have no clue". Which can be seen as well from the Japanese stimulus program, which seems to be about the most helplessly conceived program worldwide. And well, my expectations towards the effectiveness of any of these programs are already small enough...
noborito at 10:40 PM JST - 20th May

Gas has increased 20 yen over the past two months. And the powerless Japanese society says "Shoganai" and shell's out 3 times the actual cost. Higher Gas prices reflect in every part of society and the greed of oil and gas companies are hurting the country overall. When will the sheep of Japan start to learn that these guys are big devils and demand their fox politicians to take action.
mushroomcloud at 10:44 PM JST - 20th May

Within the next 24 months, Japan will lose her status as the 2nd largest economy in the world.
mousepotato464 at 11:17 PM JST - 20th May

-15.2 % and the worst part is that there is not much anyone can do. Exports are falling Land prices are falling. trade surplus is disappearing Things are not looking very bright
Den Den at 11:42 PM JST - 20th May

Aso is confused. He first gives us money to waste on yaki-niku, then uses Bush style scare tactics(N. Korea, Flu) to scare us into thinking we need him as our wise leader. But, now everybody is too scared to go outside and spend...
ca1ic0cat at 12:06 AM JST - 21st May

The economy is in tough shape and there isn't much that Aso or any other politician can do about it. It is kinda strange watching them try. But until exports pick up the economy is going to be in the pits. More price destruction, I guess.
OssanAmerica at 12:46 AM JST - 21st May

Within the next 24 months, Japan will lose her status as the 2nd largest >economy in the world.

Very possible. But by then China will lose her status the 3rd as well. Everyone is in the same boat.
mushroomcloud at 01:05 AM JST - 21st May

Very possible. But by then China will lose her status the 3rd as well. Everyone is in the same boat.

Indeed possible. But as per the most recent news, China's economy is one of the few in the world that's still growing somewhat tepidly, in light of this economic downturn. Goldman Sach's growth forecast for China is 8.3% for 2009, a bit optimistic, we'll see what the numbers look like at the end of the year.

http://ph.news.yahoo.com/rtrs/20090514/tbs-morganstanley-china-21231dd.html
OssanAmerica at 03:32 AM JST - 21st May

Right now Chinese economy is in "forced growth" mode with domestic projects, building up of strategic raw material reserves. But if exports can't grow then sooner or later it;s going to hit the fan. The faster they grow the harder they fall. Of course in a country where you can run over the angry people with tanks maybe that doesn't mean very much.
mushroomcloud at 04:26 AM JST - 21st May

Ossan,

I agree with your 'forced growth' comment. As for the other comment:

'Of course in a country where you can run over the angry people with tanks maybe that doesn't mean very much.'

Are you also referring to the United States's horrendous killing and torture in Iraq and Afghanistan?

http://www.rense.com/general37/eyewitnesscharges.htm

http://www.thewe.cc/contents/more/archive2004/august/armymedicsaided_abuses.htm

'The number of Iraqis killed through 2007 ranges from "a conservative cautious minimum" of more than 85,000 civilians[70][71] to a survey estimate of more than 1,000,000 citizens.'

http://en.wikipedia.org/wiki/Iraq_War