Market Report - Japanese Economy Slumps

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Uploaded by on Feb 1, 2009

ZHANG:
In todays Market Report more grim news for the Japanese economy.

This includes a 9.6 percent slide in Japanese manufacturing, a three-year-high jump in joblessness, and lower household spending.

The country is facing what could be one of its worst recessions since the 1974 "oil shock."

The yen's rise against the dollar has hit earnings of Japanese exporters.

A Toyota company source says its loss could exceed the current forecast of $1.7 billion. The Nikkei newspaper believes Toyota's loss will hit $4.5 billion.

Its rival Honda cut its forecast too. It sees a profit of just $1.6 billion for the year ending in March—much lower than originally expected.

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  • The Dems that took over congress 2 years ago are doing the same thing as Bush. Now it is going to get worse with Obama spending money like a drunken sailor. Very little in the spending bill will create jobs. Only 40bn out of 900 bn will be going towards infrastructure. The rest of the money is going to buy votes for their next term of office. All politicians are and are getting their direction from the elite. I am disappointed in Obama already.

  • Yup the Elite are ROBBING evryone

  • the world is feeling the effect......of the stock.

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