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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (2071)11/17/1998 11:07:00 AM
From: Wally Mastroly  Read Replies (2) of 15132
 
Justa, Re: Japan - Moody's downgrade;

usatoday.com

Here's some of the Japanese response:

>.. Japan's Finance Minister Kiichi Miyazawa said, "Japanese government bonds are the most credit-worthy bonds in the world." <

Is that why they buy so many U.S. treasuries? What a joke.

Unfortunately, for those affected, Japan's inaction/incompetence is not a laughing matter. There inaction/slow action is killing them. There sales/consumption tax is hurting their ability to increase domestic consumption & they still have not reduced it. Apparently they still focus on their increasing debt & are therefore afraid to cut taxes. Meanwhile Japan's economy continues to sink.

Some of their response to the downgrade is to criticize Moody's...
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