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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (35299)	12/16/1999 3:01:00 PM
From: Doo	Read Replies (1) \| Respond to of 99985

Boy, it's a good thing the bond doesn't matter in the new era,huh?

To: pater tenebrarum who wrote (35299)	12/17/1999 1:17:00 AM
From: Don Green	Read Replies (1) \| Respond to of 99985

FY98 Natl Income Falls 3.3%, 1st Drop Since FY55 Friday, December 17, 1999 TOKYO (Nikkei)--Japan suffered its first drop in national income since fiscal 1955 with a 3.3% fall from the previous year to 379.2 trillion yen in fiscal 1998, the Economic Planning Agency said in a final report Friday. Contributing to the decline were a 1.6% decrease in employee income, again the first fall since 1955 when figures were first compiled. Corporate income dropped 8.5%, down for the second straight year. The slump in corporate income apparently spurred restructuring, causing the fall in employee income, EPA officials said. Nominal gross domestic product in fiscal 1998 declined 2.0% to 497.3 trillion yen, unprecedented since 1955, falling below 500 trillion yen for the first time in three years. GDP in real terms declined 1.9%, to record only the third year of negative growth since 1955, after fiscal years 1974 and 1997. Among OECD (the Organization for Economic Cooperation and Development) member nations, Japan fell to seventh place in terms of per capita GDP measured in U.S. dollars in calendar 1998. It was surpassed by Denmark, the U.S. and Iceland, due to domestic recession and the weakening in the yen against the dollar compared with the 1997 rate. The nation ranked first in 1993 and 1994, but fell to third place in 1995, overtaken by Luxembourg and Switzerland. In 1997 Japan dropped to fourth place behind Norway. The value of the nation's asset holdings, such as land and stocks, declined 99.5 trillion yen in calendar 1998. Land declined for the eighth straight year and stocks for the fourth year in a row. Cumulative losses on land values since 1991 totaled 775 trillion yen, while stock losses amounted to 589 trillion yen since 1990. Combined asset losses amounted to 1,364 trillion yen, 2.7 times Japan's annual GDP. (The Nihon Keizai Shimbun Friday evening edition)