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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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From: John McCarthy2/5/2009 6:45:12 PM
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SEVERE EDIT

And Yves Smith, from the fantastic site Naked Capitalism, refers to Frank Veneroso for these mind-numbing facts and figures:

(1) The Japanese industrial production data and METI forecast was bad beyond all imagining. Industrial production might fall by 1/3 in the 12 months ending in January.

It could fall in a mere four months between November and February by more than half the U.S. Great Depression decline which took almost four years.

(2) Nothing like this has ever happened to a major industrial nation to my knowledge—not even during the 1929—1933 Great Contraction.

(3) The trade weighted yen is by far the strongest currency in the world. Japan is losing competitiveness fast. Given the lags in trade matters will get worse.

(3) The insane trader community continues to push the yen up as a safe haven. It is all so detached from reality I suppose they could take it higher.

dollarsandsense.org
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