Maurice, you are too sensitive. KJC and I weren't talking about US, whose fiat paper you are loaded down with;0) We were talking about the Japanese.
As to <<I don't think the USA has suffered major losses [as a proportion of GDP] as a result of earthquakes and typhoons.>> It is all relative, disaster related losses, natural or otherwise, but same to economy, insurance industry, etc.
Now here, this guy is talking about the US, which bears some similarity to Japan, once upon a time and now still:
dailyreckoning.com
QUOTE
- Bear Stearns' inimitable equity market observer, Joanie McCullough, sums up what ails the US capital markets:
"I logged on to the Wall Street Journal electronic version first thing this morning only to find that every darn front page story has to do with some form of alleged illicit behavior, running the gamut from tax avoidance to massive overstatement of revenue to a money manager getting led away in cuffs to somebody else tryin' to get around payin' up on a 26 year old research agreement to lawyers gettin' fired over shady stuff and resignations of board members. It is absolutely outta' control. I can't wait to get to the rest of the newspapers;...no tellin' what you might find these days."
UNQUOTE
Chugs, Jay |
