Huge earthquake..Japan

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Re: Huge earthquake..Japan

Postby vanlose kid » Tue Mar 15, 2011 10:20 pm

In the Quake Zone
[Jason Kelly] March 12, 2011

The ground here in Sano, Japan is still shaking as I write at noon on Saturday, March 12, 2011, the day after the largest earthquake in the nation’s history. It struck 21.5 hours ago.

I was working at my desk as usual when my shoji — sliding doors of translucent veneer in the case of my office, though covered in white paper in most cases — began rattling on their rails. They’re the best early warning system I’ve found, so I knew an earthquake was arriving but had no idea how big it would be.

The early tremors that shook my shoji were nothing. The roar of the earth that followed is what really tipped me off that this was no ordinary wineglass rattler. Imagine a wind you might have heard high on a mountain sweeping down toward you. That’s scary enough. Now imagine that wind not being made of air overhead, but of earth underfoot, barreling up at you.

I shot from my chair to secure the office. I covered the computer, put my expensive vase on the floor, unplugged equipment, and was just heading for the kitchen when the quake slammed the building. The neighborhood surfed on dirt. The lights swung from the ceiling, then blinked out. For a second I thought they were smart earthquake lights that sensed the tremors and turned themselves off to avoid sparking a fire, but then I noticed that all the power was out.

From inside every cabinet came a delightful tinkling of glass as if a small party had broken out to toast the arrival of spring, then the party turned horrible in a fight between stemware and cookware in the kitchen, books and printer paper in the office, with a great attempt on all fronts to pour forth in a tidal wave of debris across the floor. The quake-resistant, spring-secured kitchen and office cabinet doors held fast, though, and no tidal wave appeared — at least not in my building. Farther north, a tidal wave of the real variety gathered strength to devastate the coastline with such fury that Hollywood special effects departments are going to need to rethink the way they’ve depicted such events. They’re even worse than portrayed.

Once the initial slam subsided, people rushed into the streets. The elderly, who are legion in Japan and prepared for anything, arrived in white hard hats. One of them asked me if that wasn’t an incredible quake, and I tried to lighten the mood by pretending I hadn’t noticed.

“Quake?” I replied. “Nothing happened here,” I said, gesturing to my place.

She looked confused, then turned toward her home. “This house has always given me trouble,” she began, and started to describe how it had shaken the dickens out of her. I felt bad and cut in.

“I was just joking,” I told her. “I felt it, too.” I thought for sure she would have known I was kidding. Pretending not to notice that quake was like pretending not to notice daylight. She looked at me without smiling, then said sternly, “This is no time for telling lies, Mr. Kelly.”

That’s what the Japanese call jokes like the one I’d just attempted, lies, and she was right. It was no time for that. I got caught up in the thrill of danger and my sense of humor is what I use to deal with such moments, but I cast it aside in a hurry and joined in conversations about who needed what, when the next wave of the quake crashed upon us. Then the next. Then the next.

So it went. Wave after wave coursed through the land, sending power lines swinging and roofs crashing and the ocean surging. The trains stopped. The emergency announcement system blared that the power had gone out due to the quake.

As darkness descended and still the power stayed out, people lit candles in their homes. I moved around the city to see how it coped with the situation, even as the tremors continued. Traffic lights didn’t work, so cars edged their way cautiously into big intersections until the police showed up later to direct. Islands of light betrayed where emergency power had kicked in: the hospital standing tall and staying busy, a home for the elderly that was a type of hospital itself, vending machines that apparently contain batteries to keep selling drinks through any crisis.

A few convenience stores had power, but quickly no food except the dried, instant variety, and then even that was gone. People bought magazines, which I thought odd until I saw by the looks on their faces that what they sought was a part of normal life that had seemed so banal half a day earlier. In a snap, anything that symbolized that placid pace through a typical day became valuable, so off the shelves it flew.

Darkness fell, really fell when no man-made glows pushed against it in a million domes of modernity. The stars came out. I noticed them with joy because they were much brighter in the purer darkness. They made me think of soldier stories where men noticed something beautiful in nature as they fought, like a flower on the edge of a foxhole or a red-winged bird singing on a branch shot through with holes. I observed the world through no such dire circumstance, but the post-quake landscape gave me enough of a nudge in that direction to better understand my fellow man under duress.

I climbed a hill at the edge of town to look down on the sea of darkness. It was creepy. Where usually an endless field of lights extends to Tokyo, only a few areas of light appeared. Directly below the hill, eerie pools of headlights moved slowly around, many looking for missing family members who were unable to take the trains home. There were no city lights around the cars, just the headlight pools drifting along invisible grids like ghosts shaken from their graves.

With most people early in bed, the shaking continued. Isolated reports from community leaders holding radios on the streets informed me on the way home that northern Japan lay in ruin. The voices came leaden, delivering facts so directly that their effort to suppress emotion was in a way more emotional than if they’d cried out their sadness at each collapsed school or deluged farmhouse.

The chain of facts overwhelmed me. There was no break, no “In other news” transition to a different grim event, much less a weekend human interest sideshow. One statistic after another emanated from the radios in a legato of misfortune.

Eventually I reached a saturation point. There’s a limit to how much disaster I’m capable of processing. The adjectives peter out somewhere beyond tragic and catastrophic and devastating, and then those once horrible emotionless facts become welcome as a way to make sense of the event and form a plan for moving ahead. Let’s reduce that number of missing people. Let’s get the lights back on. Let’s make toilets flush again. How about some real food on shelves? The disaster list turns into a checklist. That’s the human spirit, alright. Let’s crawl up out of this hole!

Through the night we huddled in our capsules atop the rumbling island. When the first photon of sunlight touched the Land of the Rising Sun, we became the land of the rising determined and got straight to work on our checklists. One day, they’ll be complete and life will become a boring string of daily predictability again, within which some kid is bound to complain, “Nothing interesting ever happens to me.”

To be so lucky, young one.

http://jasonkelly.com/2011/03/in-the-quake-zone/


*
"Teach them to think. Work against the government." – Wittgenstein.
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Re: Huge earthquake..Japan

Postby anothershamus » Wed Mar 16, 2011 12:00 am

Nice post vanlose!

Love this bit:

From inside every cabinet came a delightful tinkling of glass as if a small party had broken out to toast the arrival of spring, then the party turned horrible in a fight between stemware and cookware in the kitchen
)'(
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Re: Huge earthquake..Japan

Postby justdrew » Wed Mar 16, 2011 12:03 am

Image
By 1964 there were 1.5 million mobile phone users in the US
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Re: Huge earthquake..Japan

Postby seemslikeadream » Wed Mar 16, 2011 1:44 pm


Japan quake insured loss may reach $25 billion: Eqecat
By Ben Berkowitz and Myles Neligan
NEW YORK/LONDON | Wed Mar 16, 2011 1:06pm EDT
(Reuters) - Friday's earthquake in Japan caused insured losses of between $12 billion and $25 billion, making it one of the costliest natural disasters in history for global insurers, catastrophe risk modeling firm Eqecat said.
Mazars and Deutsche Bank could have ended this nightmare before it started.
They could still get him out of office.
But instead, they want mass death.
Don’t forget that.
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Re: Huge earthquake..Japan

Postby 8bitagent » Wed Mar 16, 2011 3:31 pm

Tokyo and other main hubs emptying out, as mass exodus of non Japanese leaving by flight as business grinds to a halt
http://www.msnbc.msn.com/id/42108704/ns/travel-news/

Mass exodus from Japan, as plant is said to be increasingly "out of control"
http://www.msnbc.msn.com/id/42103972/ns ... iapacific/

The meltdown situation has replaced the news of the massive tsunami devastation(which they keep trying to insist is way under 10,000 dead, but we know better)
As others have speculated, one can only wonder the implications if Tokyo starts coming to a halt financially and productivity wise
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Re: Huge earthquake..Japan

Postby 82_28 » Wed Mar 16, 2011 4:58 pm

The Exegesis: Childhood's End

Sometimes history converges in a way to kick our understanding of the world into a new plateau. Oftentimes it's not recognized until much later, but those with their ears low to the ground usually see it before others.

As we all sit agog with the Roland Emmerich-scaled destruction left in the wake of the Japanese earthquake and tsunami, the NatGeo channel is running a documentary tonight that couldn't be more appropriately-timed:

NORTHAMPTON, Mass (Reuters) – A U.S.-led research team may have finally located the lost city of Atlantis, the legendary metropolis believed swamped by a tsunami thousands of years ago in mud flats in southern Spain.

"This is the power of tsunamis," head researcher Richard Freund told Reuters.

"It is just so hard to understand that it can wipe out 60 miles inland, and that's pretty much what we're talking about," said Freund, a University of Hartford, Connecticut, professor who lead an international team searching for the true site of Atlantis.

To solve the age-old mystery, the team used a satellite photo of a suspected submerged city to find the site just north of Cadiz, Spain. There, buried in the vast marshlands of the Dona Ana Park, they believe that they pinpointed the ancient, multi-ringed dominion known as Atlantis.

The team of archeologists and geologists in 2009 and 2010 used a combination of deep-ground radar, digital mapping, and underwater technology to survey the site.

Freund's discovery in central Spain of a strange series of "memorial cities," built in Atlantis' image by its refugees after the city's likely destruction by a tsunami, gave researchers added proof and confidence, he said.

Atlantis residents who did not perish in the tsunami fled inland and built new cities there, he added.

The team's findings will be unveiled on Sunday in "Finding Atlantis," a new National Geographic Channel special.

We've been conditioned for years to believe that Atlantis was a myth, much like our ancestors believed that Troy was a myth. If these finds turn out to be true, none of the Atlantis-mythicists will be even slightly inconvenienced for their unfounded beliefs. Only those who hold unpopular -- or unsanctioned-- beliefs can be held into account. But no historian worth his tenure should dismiss the possibility of Atlantis - certainly no geologist would. This is a incredibly dangerous planet, and this relatively placid period we are presently enjoying is only a whisper in the night of geological time. Even in our own history, there are earthquakes, volcanoes and countless other disasters that have brought entire civilizations to their knees.

The Japanese are a brave, clever and resourceful people -- in fact, their cultural influence is in the very lifeblood of this blog. There's no doubt in my mind that this disaster will bring them together and bring the best out of this powerful race, in fact it may be one of those moments of crisis in which a people rediscover themselves after a period of uncertainty. They have a lot of experience with this sort of thing -- orthodox (read: government) scientists try their best to wish it all away, but there's powerful evidence of an earlier super-civilization off the coast of Japan, well-documented by Graham Hancock, among others. Now that we are seeing the fury of our wicked stepmother Earth, all of a sudden we reach a point in which only the most willfully-ignorant refuse to believe that everything can be taken away from us literally overnight.

An uncommonly benign armistice in Stepmother Earth's war upon her children has conditioned many of us to become inhuman and inhumane. Surplus economies have created an overclass of bloated parasites, who differ from outright gangsters only in their shrewdness. In fact it's becoming increasingly difficult to differentiate so-called legitimate and illegitimate economic enterprises. But without warning the snake can bite them as well, as Poseidon can claim their opulent waterfront palaces for his own domain. There's no doubt in my mind that a lot of rich and powerful people who see themselves as gods believe they can escape the Sun's wrath, or the Ocean's, or that of the tectonic plates. The violence of nature -- like its companion, Death -- is a great equalizer.

Or maybe they think the gods themselves will return to save them. Maybe that's the enigmatic message of the Dubai Atlantis ritual, and several others. I wouldn't count on it. When you look at the parade of carnage of history and prehistory, it becomes abundantly clear that any race with say a 500-year technological head-start on us would steer clear of this violent planet, orbiting the Sun in a particularly violent cosmic neighborhood. This is what farsighted scientists have been telling us -- there have been five great extinctions on this planet already and no sign that this process is over. If someone else -- the Anunnaki or whomever -- was here and left, it's a good chance that one of Stepmother's temper tantrums (say, the Minoan eruption) scared them off.

For the time being, we have the capacity to cope with our fragile state. We can (and must) prepare but more importantly, we can care. Care about people who are suffering (and not look at the footage of other people's misery as some kind of sick pornography), because there's a very good chance that we're all waiting in line for the snake's bite. We need to ask ourselves if the 1950s suburbia model is still meaningful or desirable, or if the "socialism for the rich, social Darwinism for the rest of us" economic model will do anything to improve the human condition or ensure it's survival and success.

We could be at the very start of a long period of crisis and calamity -- a crisis that will act as our crucible. The survival of the human family may be at stake. Strangely enough, those of us who cut our teeth on sci-fi and comics and the rest saw all of this rehearsed a thousand times. The question is do we act like the heroes of those stories or head for the hills while everyone but a tiny handful of over-privileged sociopaths carry on with only the slightest inconvenience in their Rocky Mountain tunnel cities.

It's beginning to stir -- a spark that's fueled by every calamity will become a bonfire that will change the course of our evolution. The ability to experience the suffering that our brothers and sisters are going through and the constant stream of communication is only fanning the flames. Everything will be different, everything is about to change. Change is never pretty -- true change, that is -- it's always painful. But we've been dithering for far too long; rudderless, uninspired, self-absorbed. All that's going to change. Childhood is nearing its end and it's none too soon. Destiny is calling.


http://secretsun.blogspot.com/2011/03/e ... s-end.html
There is no me. There is no you. There is all. There is no you. There is no me. And that is all. A profound acceptance of an enormous pageantry. A haunting certainty that the unifying principle of this universe is love. -- Propagandhi
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Re: Huge earthquake..Japan

Postby WakeUpAndLive » Wed Mar 16, 2011 5:41 pm

The ending of that article was really powerful 82_28. Interesting how I was listening to this song while reading. It is called Everything Changes by Soldiers of Jah Army:


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Re: Huge earthquake..Japan

Postby seemslikeadream » Thu Mar 17, 2011 12:26 am

BOJ's Latest Injection: 6 Trillion Yen

By MEGUMI FUJIKAWA

TOKYO—The Bank of Japan announced it was providing emergency funds for a fourth straight day on Thursday, continuing its effort to calm concern about the economic impact of the earthquake and nuclear-power crisis.

In the morning the central bank offered 5 trillion yen (about $60 billion) in same-day funds, of which financial firms took up 1.122 trillion yen; in the afternoon it offered an additional 1 trillion yen. Same-day funds effectively make money available immediately to cash-strapped financial companies.
Mazars and Deutsche Bank could have ended this nightmare before it started.
They could still get him out of office.
But instead, they want mass death.
Don’t forget that.
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Re: Huge earthquake..Japan

Postby 8bitagent » Thu Mar 17, 2011 4:39 pm

Looks like a massive below freezing blizzard combined with lack of fuel is crippling the rescue/shelter/aid efforts, on top of the radiation fears.
http://www.msnbc.msn.com/id/42132378/ns ... iapacific/

I can't imagine what it must be like to be without water, heat or power in such conditions for those that actually have houses
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Re: Huge earthquake..Japan

Postby vanlose kid » Fri Mar 18, 2011 3:24 am

freemason9 wrote:this is human tragedy of epic proportions.

pray for the japanese.


Japan's economy heads into freefall after earthquake and tsunami
Bank of Japan to announce emergency 'quake budget' as blackouts and closures risk pushing country into recession

Tim Webb
guardian.co.uk, Sunday 13 March 2011 20.19 GMT


The full extent of the economic impact of Friday's earthquake and tsunami is becoming apparent , with hundreds of factories shut across Japan, warnings of rolling blackouts and predictions from economists that the disaster would push the country into recession.

The Bank of Japan is preparing to pump billions of yen into the economy when it announces an emergency "quake budget" on Monday to prevent the disaster derailing the country's fragile economic recovery.

Toyota and Nissan said they were halting production at all of their 20 factories. Toyota, the world's largest carmaker, evacuated workers from two plants in the worst affected regions and has not been able to reach the sites to inspect the damage. The plants make up to 420,000 small cars each year, mostly for export. Two of Honda's three plants remain closed.

Other manufacturers have also reported major damage to their factories, with Kirin Holdings, Fuji Heavy Industries, GlaxoSmithKline and Nestlé among those to halt operations. Sony, the electronics group, has suspended production at eight plants. At one plant, 1,000 workers had to take refuge on the second floor after the tsunami hit. All ports have been closed amid warnings of aftershocks to come.

Japan's utilities providers are warning of rolling blackouts across the country in the coming days because they are unable to meet electricity demand. Nuclear power generates about a third of the country's electricity but six reactor units at Fukushima remain offline indefinitely.

An estimated 2 million homes are without power and about 1.4 million do not have running water. Equecat, a risk consultancy, estimated over the weekend that the economic losses from this earthquake would total more than $100bn (£62bn).

Analysts said one of the Bank of Japan's priorities was to advance "soft" loans to commercial banks to make sure they do not run out of cash as customers in the affected areas rush to withdraw savings. The central bank is expected to flood money markets with more cash than usual, partly to stop the yen from rising too much. Japanese firms and investors are racing to repatriate their assets, selling dollars and other foreign currencies, to prepare for the cost of rebuilding their domestic economy, which will push up the yen's value. It is feared this will make exports more expensive and choke off the hoped-for, export-led recovery.

David Buik at BGC partners said: "The Bank of Japan, I am sure, will be on high alert, doing everything in its power to stop the yen becoming too strong, as well as providing the banking sector with all the liquidity it may require.

"Japan's economy is export-led. So with such an inordinately large budget deficit, it will be imperative to get those factories open again." The bank has little scope to cut interest rates, as they are almost at zero. Economists said the bank was likely to hold fire on more drastic action while it assesses the economic impact 0f the disaster.

Daiwa Capital Markets, the Japanese-owned bank, said it was likely the economy would be pushed into recession, with exports particularly badly hit.

Economists had expected growth of 0.3% this quarter but now expect a second successive quarter of negative growth.

The huge cost of rebuilding the affected areas will push up Japan's public debt, which is already the largest among advanced economies. The Nikkei index, which fell 1.7% on Friday, is expected to post large falls when it reopens as the scale of the damage becomes clear. Some analysts warned it could tumble below the psychologically important 10,000 mark, which would represent a 2.7% drop from Friday's close, with one analyst at Toyota Asset Management telling Reuters it could fall below 9,000 soon.

Oil prices, which fell by 3% on Friday, are likely to continue falling this week. Japan is the one of the world's largest importers of oil but demand is likely to drop as industrial activity falters.

Strategists have been analysing the economic impact of Japan's last major earthquake, in 1995 near Kobe, for clues.

The Nikkei fell 8% in the first five days after that earthquake but then rose by 5% in the next 10 days. After the initial disruption, the economy grew by more than the trend growth rate at the time for 1995 and 1996.

http://www.guardian.co.uk/world/2011/ma ... ke-tsunami


Economic Devastation?
What the earthquake and tsunami might mean for Japan's economy.
By Annie Lowrey
Posted Friday, March 11, 2011, at 5:23 PM ET

Nobody knows just how bad the damage is from the earthquake in Japan, and the current focus remains on preserving human life. Still, some investors and analysts are already starting to question how it will affect Japan's economy.

One concern voiced in investor notes and wire stories is that the earthquake will nudge the country closer to a debt crisis. Japan is deep in the red—much deeper in the red than the United States or, really, any other developed country. Its 20-year bout of recessions has given it a massive national debt. And last quarter, despite a global return to growth, its economy actually shrank. If the Japanese government needs to issue new bonds to rebuild, the concern goes, that might further imperil its fiscal situation, raising its borrowing costs and even sparking default.

The question is whether the disaster could "push Japan over the edge" financially, Brendan Brown of Mitsubishi UFJ Securities told Bloomberg. Another analyst told CNN Money that "Japan's economic recovery has lost momentum and a large part of the reconstruction costs will add to the government's significant debt burden." But it's too early to say whether an economic crisis will follow the humanitarian one. And concerns about Japan's ability to repay its debt due to the earthquake seem overblown.

As a general rule, earthquakes are less harmful—in terms of human life and economic damage—in rich, stable countries. Consider the case of two major earthquakes that hit in 2010: the 7.0 magnitude earthquake near Port-au-Prince, Haiti, and the 8.8 magnitude earthquake that hit Chile. In many ways the two quakes are not comparable: Haiti's earthquake, though smaller, hit very close to a densely populated region; Chile's, though much stronger, hit offshore and affected a less populated area. Nevertheless, the former killed 316,000. The latter killed about 500 people. Chalk that up to Chile's wealth and stability: stricter building codes, better emergency preparedness, excellent hospitals, and functional government.

Thus, Japan should be able to recover from this earthquake as quickly as any nation could. It has the strictest building codes in the world, and its economy is huge—and the bigger the country, the smaller the proportion of GDP impacted by any one event. Most important, the country is wealthy. On the one hand, that means there are a lot of businesses, homes, and infrastructure to damage. (Say an earthquake hit your yard. If it damaged your vegetable garden, it might cost $20. If it damaged the garage housing your Ferrari, it might cost $200,000.) On the other, it means the country has ample resources to draw on to rebuild.

But analysts are worried about the earthquake's impact on the country's fiscal situation specifically. It is a fair concern: Japan's books do not look very good. Its public debt is 228 percent of GDP, compared with 144 percent for Greece and 77 percent for the United Kingdom. Moreover, the country's politicians have failed to tackle the debt crisis, given that borrowing costs remain so low, despite warnings from ratings agencies. In January, Standard and Poor's cut Japan's long-term sovereign debt rating, saying politicians had no real plan to bring the country back into the black and worrying debt levels "will continue to rise further than we envisaged before the global economic recession hit the country and will peak only in the mid-2020s."

The question at hand is whether and how the cost of rebuilding might add so much to that debt as to worry investors and raise borrowing costs, precipitating some kind of debt crisis. In the short term, rebuilding might actually benefit Japan's economy, as former Treasury Secretary Larry Summers pointed out on Friday. In the long term, it is hard to believe the earthquake will be the straw that breaks the fiscal camel's back. In fiscal year 2011, the country plans to issue about $2 trillion in new debt. Its outstanding long-term government debt is about $10 trillion. If rebuilding costs reach $10 billion, which some analysts on CNBC estimated, or even $100 billion, it would be but a drop in a very big bucket.

Japan's debt problem is very serious—but it's a long-term problem. The earthquake and its associated rebuilding costs might have left Japan more vulnerable to a fiscal crisis. But it is the government's unwillingness to pay the debt down, the country's significant demographic challenges, Japan's sluggish and often nonexistent economic growth, and its massive existing fiscal burden that remain the real looming threats.

http://www.slate.com/id/2288035/


Has the Tsunami Destoyed Japan's Economy?

The entire world is in a state of mourning today as details regarding the horrific damage caused by the massive tsunami in Japan continue to trickle in. The magnitude 8.9 earthquake that caused the tsunami was the largest earthquake that Japan has ever experienced in modern times. Waves as high as 30 feet swept over northern Japan. The tsunami waters reached as far as 6 miles inland, and authorities have already recovered hundreds of dead bodies. Those of us that have seen footage of this disaster on television will never forget it. But this nightmare is not over yet. There have been dozens of aftershocks, and many of them have been quite large. In fact, there have been 19 earthquakes of at least magnitude 6.0 in the area over the last 24 hours. So what is this disaster going to do to the third largest economy in the world? Japan already had a national debt that was well over 200% of GDP. Could this be the "tipping point" that pushes the Japanese economy over the edge and into oblivion?

It is hard to assess the full scope of the damage to Japan at this point, but virtually everyone agrees that much of northern Japan is a complete and total disaster area at this point. Many towns have essentially been destroyed. Some are estimating that the economic damage from this disaster will be in the hundreds of billions of dollars. Others believe that the final total will be in the trillions of dollars.

Fortunately, major cities such as Tokyo came through this event relatively unscathed and most of the major manufacturing facilities are not in the areas that were most directly affected by the earthquake and the tsunami.

But let there be no doubt, this was a nation-changing event. Japan will never quite be the same again.

Also, it isn't just Japan that will be affected by this. The truth is that economic ripples from this event will be felt all over the world.

An economist from High Frequency Economics, Carl Weinberg, told AFP the following about the economic consequences of this disaster....

There is no way to assess even the direct damage to Japan's economy or to the global economy. This is a sad day for Japan, and economic aftershocks could affect the whole world's economy.

It is literally going to take months to figure out exactly how much damage has been done. Let us just hope that we don't see any more major earthquakes in the area.

The Japanese are a very resilient people and the Bank of Japan is already vowing that it will be doing whatever is necessary to ensure the stability of the financial markets. The Bank of Japan has announced that it is going to provide as much liquidity as necessary to keep the Japanese economy functioning normally.

But the truth is that the Bank of Japan has already been printing money like crazy....

Image

Is a tsunami of new yen really going to solve the economic damage that has been done by the earthquake and the tsunami?

Of course not.


The truth is that the economy of Japan was already deeply struggling before this disaster.

The national debt of Japan is now well over 200% of GDP and there seems to be no doubt that they will need to borrow massive amounts of money to deal with the aftermath of this crisis. Up until now the Japanese government has been able to borrow money at ultra-low interest rates of around 1.30 percent for 10-year bonds, drawing on a huge pool of savings from its own citizens.

But in light of what has just happened, will the citizens of Japan still have enough resources to continue to fund the rampant spending of the Japanese government? At this point, it is estimated that this gigantic mountain of debt breaks down to 7.5 million yen for every single citizen of Japan.

Politicians in Japan have been pledging for years to do something about all of this debt, but nobody has been able to make much progress.

Even before this disaster, the major credit rating agencies were warning that they may have to downgrade Japanese government debt. The earthquake and the tsunami are certainly not going to make the Japanese even more credit-worthy.

Hideo Kumano, the chief economist at Dai-ichi Life Research Institute, has said that a "tipping point" will come when world financial markets finally recognize that the government of Japan simply cannot afford to service its debt any longer....

It's hard to predict when the bond market might collapse, but it would happen when the market judges that Japan's ability to finance its debt is not sustainable anymore.


Is the massive tsunami that just hit Japan such a tipping point?

Other countries such as Greece and Ireland would have already collapsed if it had not been for the massive international bailouts that they received. So who is going to bail Japan out?

This could potentially be one of the greatest economic disasters that the world has seen since World War II.

With the world already on the verge of a major financial collapse, this is the last thing that world financial markets needed. In fact, much of the rest of the world had been hoping that an influx of capital from Japan would help to stabilize things.

For example, Japanese insurance companies had recently announced that they were planning on buying up lots of European sovereign debt, but now obviously those plans are on hold. As a result of this disaster, Japanese insurance companies will be forced to sell off assets like crazy in order to pay settlements. But as Zero Hedge is correctly pointing out, without Japanese financial institutions stepping in to soak up Eurozone bonds this is going to make the European sovereign debt crisis even worse.

But right now the focus in on the devastation in Japan. At the moment it is unclear how much of the economic infrastructure of Japan has survived.

For example, as USA Today is reporting, some factories cannot even be reached by phone at this point....

Toyota's (TM) phone calls to its plants in affected areas were not being answered, said Shiori Hashimoto, a spokeswoman in Tokyo. The Toyota City-based carmaker began production at a new plant in Miyagi this year that makes Yaris compact cars and has capacity to make 120,000 vehicles a year.

What is clear is that the cost of recovering and rebuilding after this disaster is going to put extraordinary financial stress on the Japanese government.

Julian Jessop of Capital Economics certainly does not sound optimistic about what this is going to mean for the Japanese economy....

Japan's economic recovery has lost momentum and a large part of the reconstruction costs will add to the government's significant debt burden.

Hopefully the full extent of the damage is not as bad as many are now fearing. But the truth is that this is a huge, huge event for a world economy that was already on the verge of collapse. May our thoughts and our prayers be with the Japanese people at this time.

This is truly one of the biggest disasters that any of us have ever seen, and Japan will never be the same again.

http://seekingalpha.com/article/257905- ... -s-economy


this isn't the aftermath, it's the second/third wave. it'll hit the people most exposed, and i don't mean banker/capitalists, japanese or otherwise, but the folks out there with no roof over their heads, and possibly no job to go back to.

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Re: Huge earthquake..Japan

Postby vanlose kid » Fri Mar 18, 2011 3:33 am

Japanese earthquake takes heavy toll on ageing population
Shocking stories of deaths emerge as the military is enlisted to help at the Fukushima Daiichi nuclear plant

Robert Booth, and Justin McCurry in Tokyo
guardian.co.uk, Thursday 17 March 2011 20.56 GMT

The devastating impact of the Japanese earthquake on the country's ageing population was exposed on Thursday as dozens of elderly people were confirmed dead in hospitals and residential homes as heating fuel and medicine ran out.

In one particularly shocking incident, Japan's self-defence force discovered 128 elderly people abandoned by medical staff at a hospital six miles from the stricken Fukushima nuclear plant. Most of them were comatose and 14 died shortly afterwards. Eleven others were reported dead at a retirement home in Kesennuma because of freezing temperatures, six days after 47 of their fellow residents were killed in the tsunami. The surviving residents of the retirement home in Kesennuma were described by its owner, Morimitsu Inawashida, as "alone and under high stress". He said fuel for their kerosene heaters was running out.

Almost a quarter of Japan's population are 65 or over, and hypothermia, dehydration and respiratory diseases are taking hold among the elderly in shelters, many of whom lost their medication when the wave struck, according to Eric Ouannes, general director of Doctors Without Borders' Japan affiliate.

This comes after Japan's elderly people bore the brunt of the initial impact of the quake and tsunami, with many of them unable to flee to higher ground.

Although the people from the hospital near Fukushima were moved by the self-defence forces to a gymnasium in Iwaki, there were reports that conditions were not much better there. An official for the government said it felt "helpless and very sorry for them". "The condition at the gymnasium was horrible," said Cheui Inamura. "No running water, no medicine and very, very little food. We simply did not have means to provide good care."

Japan's deepening humanitarian crisis came as the military was enlisted to try to douse the damaged nuclear reactors and spent fuel pools at the Fukushima plant using helicopters and high-powered hoses. Chinook helicopters dropped several tonnes of water, much of which seemed to miss its target. More workers were drafted into the danger zone to prevent the spread of radiation and the plant's operator said it had managed to connect an electric cable to allow it to restart critical water pumps in one of the six units.

The US Nuclear Regulatory Commission chairman, Gregory Jaczko, said the commission believed "radiation levels are extremely high" at the plant, while Britain said citizens should not go any closer than 50 miles from the plant, much further than Japan's recommendation to stay 12 miles away or take shelter indoors if evacuation was not possible within an 18-mile radius.

Sir John Beddington, Britain's chief scientific adviser, also said he believed cooling water essential to preventing radioactive emissions from the spent fuel pools alongside reactor 4 had almost totally evaporated and he was "extremely worried" the storage pools at reactors 5 and 6 were also leaking.

The Japanese government revised the estimated disaster death toll up from 10,000 to 15,000. It confirmed that 5,178 people had died and 2,285 were injured. The number of missing was increased to 8,913 from 7,844. Almost 200,000 households regained electricity, but this left more than 450,000 without power. Approximately 2.5m households still do not have access to water.

Pat Fuller, of the International Federation of Red Cross and Red Crescent Societies, which met on Thursday in the earthquake zone to plan longer term relief with the Red Cross of Japan, said the lack of heating oil was critical.

"They don't have enough kerosene to run heaters for all the evacuation centres," he said. "Only a small percentage of the petrol stations are functioning which affects efforts to get food back into the shops. There had been an outbreak of gastric flu at one health centre we visited and if that hits old people there could be serious complications."

Search and rescue teams began scaling back their operations as relatives began to lose hope of finding missing loved ones alive. In the town of Kamaishi, American and British teams completed their final sweeps, and Japanese mechanical diggers began the task of clearing collapsed homes, offices and stores.

Crews found more than a dozen bodies, some trapped beneath homes flipped on their roofs, another at the wheel of his overturned car. In three days of searching the battered coast, they found no survivors. "We have no more tasks," said Pete Stevenson, a firefighter heading Britain's 70-strong team. "The Japanese government have told us they are now moving from search and rescue to the recovery phase."

Heather Heath, a British firefighter, said: "There are probably dozens of bodies we just can't reach. The water can force people under floorboards and into gaps we can't search. It's such a powerful force."

In Rikuzentakata Katsuya Maiya, whose home was hit by the tsunami, said he had accepted he would not find his 71-year old sister-in-law and her husband. The elderly couple fled their home on foot, but they could not keep up with their neighbours and fell behind as the tsunami rushed in.

"I think there is no hope," he said. "The only thing that I can do is wait until members of the Japanese self-defence force collect their bodies."

The very young too were suffering. Save the Children on Thursday reached Ishinomaki, Nobiru and Onagawa, north of Sendai, and reported children living in miserable conditions. "There were some terrible scenes, in some places like Onagawa there was nothing left," said Ian Woolverton, who led the mission. "In other places like Ishinomaki we found children in evacuation centres huddled around kerosene lamps."

The charity said they met Kazuki Seto, eight, at an evacuation centre not far from Sendai. He told them: "We are really worried about the nuclear power plants. We are very afraid of nuclear radiation. That's why we don't play outside." Another, Yasu Hiro, 10, added: "We know about the bombs at Hiroshima and Nagasaki, and we are very scared. It makes us really worry. If it explodes it is going to be terrible."

New footage also emerged of the tsunami striking last Friday, filmed by a local reporter who fled to safety as the wave swept in. The footage showed a wave crashing down a street moments after he found safety on a staircase.

Buildings and cars were swept away, while a father and two children were stranded on the side of an upturned car. A woman clung to a tree. She was rescued using a fire hose. "Thank you. Thank you. I thought I was going to die," she said.

http://www.guardian.co.uk/world/2011/ma ... ion-deaths


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Re: Huge earthquake..Japan

Postby vanlose kid » Fri Mar 18, 2011 3:36 am

what the CFR have to say:



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Re: Huge earthquake..Japan

Postby 8bitagent » Fri Mar 18, 2011 5:15 am

Anyone see that one clip where a reporter slides down this completely devastated little city, and it's clear not a soul had even been there to estimate damage or check for survivors? So many cities are like that.
Everyone's dead, everythings destroyed, and snow has buried everything. So horrible knowing that the power outages are killing the elderly and the crippling blizzards further worsening all those people without homes and or electricity.

vanlose kid wrote:what the CFR have to say:



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Is there a secret CFR? I've studied political roundtables, cabals and secret policy makers like everyone else...but every time I see the writing or interviews with CFR members, they seem
almost kind of NPR liberal than the evil sect Alex Jones makes them out to be. Not saying CFR are good guys, certainly that clip with Cheney and Rockefeller being all chummy is unsettling. But often when I see CFR officials on tv they sound almost anti war and leftist.
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Re: Huge earthquake..Japan

Postby vanlose kid » Fri Mar 18, 2011 7:48 am

Larry Summers Claims Japanese Earthquake/Tsunami Disaster Will Boost Economy

By David Theroux
Saturday March 12, 2011 at 6:55:19 PM PST


Predictably, within days of the unmitigated disaster and massive loss of life (10,000 and counting) in Japan from the record 8.9-magnitude earthquake and tsunami, a major Keynesian economist has gone on the record in defending the “broken window fallacy” in economics by claiming that the Japanese disaster will actually boost economic growth. The economist is none other than Larry Summers (former Harvard University President and now Charles W. Eliot University Professor at Harvard’s Kennedy School of Government, former Director of Obama’s National Economic Council, former Chief Economist at the World Bank, and former Secretary of the Treasury under Clinton). In an interview on CNBC Summers actually claims that the disaster will:

. . . add complexity to Japan’s challenge of economic recovery. It may lead to some temporary increments ironically to GDP as a process of rebuilding takes place. In the wake of the earlier Kobe earthquake Japan actually gained some economic strength.


(For the record, the Kobe earthquake killed more than 6,000 people and left 300,000 homeless.)

Now in a superb article in The Daily Caller, “Tsunamis are not stimulus,” Ryan Young refutes the Keynesian nonsense from Summers:

Think about that for a second. The 8.9 magnitude earthquake was Japan’s largest in 100 years. The tsunami it spawned killed hundreds of people. Some of their bodies may never be found. Countless more people are now homeless. It tossed cars and buildings around as easily as a child tosses his Matchbox toy cars across the room. The wave was still seven feet tall when it hit Hawaii. Coastal areas were evacuated as far away as California and Oregon.

This is pure destruction. Even leaving aside the horrible human toll, destruction is bad for the economy.

Yes, construction will be a boom industry in the coming months. That’s why people like Summers can claim that the tsunami will create jobs and boost GDP. Better still, the workers will spend their wages and stimulate the rest of the economy, too. Japan will be better off for having endured a natural disaster.

If this were really the case, then the best possible way to boost Japan’s economy would be to level the entire country. Every building should be destroyed, brick by brick. The number of jobs that policy would create would dwarf any tsunami stimulus.

Then, in a few years, when the rebuilding is finished, workers can destroy their entire infrastructure again. Even more jobs will be created!

Economists call this line of thought the broken-window fallacy; if a kid hits a baseball through a window, it creates a job for the repairman. It does sound superficially appealing, which is probably why Summers fell for it. But it is clearly a fallacy. And it’s one that every economist has drilled into his or her head from day one.

Here’s why: if the tsunami had never happened, people would still have all the buildings and cars that they had in the first place. They would be able to spend their money on other, additional goods that they want.

And those new construction jobs the tsunami will create? Every last one of those workers could be making something else instead. They could be producing computers, televisions, almost anything.

People who were construction workers to begin with could be building new factories or new homes, in addition to the ones they already have. Instead, they will be working overtime just to get back what they already had. This is not stimulus, even if it does show up in GDP. It is better to build than to rebuild.

Summers, smart as he is, screwed up. Because he was reacting so quickly to a terrible tragedy as it was still happening, maybe he didn’t think before he spoke. It happens to the best of us.

The rest of us need to know that natural disasters are just that: disasters. As the Japanese mourn their dead and begin the painful rebuilding process, we should do whatever we can to bring them some comfort. Saying that the terrible wave that washed away so much will stimulate the economy offers no comfort, mainly because it isn’t true.

The “broken window” fallacy, one of the most pernicious in economics, has long been used to defend a wide assortment of government interventions, from urban renewal to “cash-for-clunkers” to “clean” energy subsidies to public works projects to war. For example, John Maynard Keynes argued in Chapter 10 of his book, The General Theory of Employment, Interest and Money, that it may make economic sense to build completely useless pyramids in order to stimulate the economy, raise aggregate demand, and encourage full employment. Keynesian, Nobelist, and prominent New York Times liberal columnist Paul Krugman has similarly claimed that the massive munitions and other spending and public works projects of World War II ended the Great Depression (see here and here), a view that Independent Institute Senior Fellow Robert Higgs thoroughly refutes in his seminal book, Depression, War, and Cold War.

However, the “broken window fallacy” was first refuted many years earlier by the French economist Claude-Frederic Bastiat in his 1850 essay, “What Is Seen and What Is Not Seen,” which can be found in his book, Selected Essays on Political Economy. And one of the very best critiques of the fallacy is found in Austrian School economist Henry Hazlitt’s bestselling book, Economics in One Lesson.

Natural and man-made disasters are tragic enough on their own. Must mankind also continue to suffer from the government measures based of the crackpot views of Keynesians who disturbingly consider such calamities economically beneficial and refuse to learn the simple lesson of the “broken window fallacy”?


//http://www.independent.org/blog/index.php?p=9697


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way back when...

Reckonings; After The Horror
By PAUL KRUGMAN
Published: September 14, 2001

It seems almost in bad taste to talk about dollars and cents after an act of mass murder. Nonetheless, we must ask about the economic aftershocks from Tuesday's horror.

These aftershocks need not be major. Ghastly as it may seem to say this, the terror attack -- like the original day of infamy, which brought an end to the Great Depression -- could even do some economic good.
But there are already ominous indications that some will see this tragedy not as an occasion for true national unity, but as an opportunity for political profiteering.

About the direct economic impact: The nation's productive base has not been seriously damaged. Our economy is so huge that the scenes of destruction, awesome as they are, are only a pinprick. The World Trade Center contained 12 million square feet of office space; that's out of 375 million square feet in Manhattan alone, and 3.5 billion in the United States as a whole. Nobody has a dollar figure for the damage yet, but I would be surprised if the loss is more than 0.1 percent of U.S. wealth -- comparable to the material effects of a major earthquake or hurricane.

http://www.nytimes.com/2001/09/14/opini ... cks&st=nyt


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Re: Huge earthquake..Japan

Postby 23 » Fri Mar 18, 2011 3:00 pm

http://presscore.ca/2011/?p=1624
HAARP Magnetometer data shows Japan earthquake was induced.

Image

The United States Air Force and Navy has provided a visual insight into what caused the 9.0 magnitude off of Japan on March 11, 2011 at 05:46:23 UTC. The image above was downloaded from the High Frequency Active Auroral Research Program (HAARP) website. It is a time-frequency spectrogram, which shows the frequency content of signals recorded by the HAARP Induction Magnetometer. This instrument, provided by the University of Tokyo, measures temporal variations in the geomagnetic field (Earth’s magnetosphere) in the ULF (ultra-low frequency) range of 0-5 Hz. Notions have been added to the image to show you what was happening the day the Japan earthquake and tsunami struck.

By looking at the accompanying HAARP spectrum chart above you can see when the 9.0 magnitude earthquake struck – red line drawn vertically – and what was happening before and after the earthquake. What you can also see is a constant ULF frequency of 2.5 Hz being recorded by the magnetometer. The ULF 2.5 Hz frequency is evidence of an induced earthquake. The chart recorded this constant before, during and after the 9.0 magnitude earthquake struck. On March 11, 2011 the 2.5 Hz ULF frequency was being emitted and recorded from 0:00 hours to about 10:00 hours – or for 10 hours. We know for a fact that the Japan earthquake lasted only a few minutes so why was the earthquake signature frequency (2.5 Hz) being recorded for 10 hours on the morning of March 11, 2011? Because a HAARP phased array antenna system was broadcasting (transmitting) the 2.5Hz ULF frequency and it triggered the Japan earthquake and ensuing tsunami.

If you go to HAARP’s official website you can see for yourself that the 2.5 Hz ULF frequency wasn’t only being broadcated for 10 hours, it was constantly being broadcasted for 2 days prior to the earthquake. Broadcasting began on March 8, 2011, just before midnight as you can see on HAARP’s website page – http://maestro.haarp.alaska.edu/cgi-bin ... i?20110308. Click on the Next Day link to see that the earthquake inducing 2.5 Hz ULF frequency was being broadcasted for the entire days of March 9, 2011 and March 10, 2011. Even though the signature frequency of an earthquake was shown throughout March 9 and March 10 there were no constant earthquakes occurring off the east coast of Japan.

What is the significance of a 2.5 Hz ULF broadcast? The natural resonance of an earthquake is 2.5 Hz. Scientists working for the United States military discovered this using the phased array antennas at the HAARP facility in Alaska. HAARP’s own charts suggests that earthquakes occurred constantly for 3 days. We know for a fact that they haven’t.

The HAARP magnetometer data provides proof that the Japan earthquake was not a naturally occurring quake – it was triggered. This data shows us that a HAARP military installation was broadcasting the known earthquake signature frequency in order to trigger a major earthquake. The broadcast was most likely being transmitted from a floating HAARP system like the floating Sea-Based X-Band Radar platform that can be moved anywhere in the Pacific or Atlantic ocean under the protection of a carrier strike group – like the USS Ronald Regan. Where was the USS Ronald Reagan on the morning of March 11, 2011? According to a Stars & Stripes March 9, 2011 report – Reagan carrier group steams toward South Korea to join exercise.

Image

Evidence or Conspiracy theory?

Is this evidence or just a bunch of nonsense attached to a baseless conspiracy theory and recklessly made public by a crackpot? The above image is of the HAARP Sea-Based X-Band Radar (SBX) platform which does exist – not a conspiracy theory. The preceding link is to the United States Navy website. What is sitting on top of the deck of the SBX is a phased array antenna – a key component of the Missile Defense Agency (MDA) GMD system – clearly not a conspiracy theory.

The military vessel includes power plant, a bridge, control rooms, living quarters, storage areas and the infrastructure necessary to support the massive X-band radar. The SBX radar is the most sophisticated phased array, electro-mechanically steered X-band radar in the world – according to Boeing claims. The phased array antenna consists of thousands of antennas driven by transmit/receive modules. The radar is designed and built by Raytheon Integrated Defense Systems for Boeing, the prime contractor on the project for the United States Missile Defense Agency (MDA). Boeing, Raytheon and MDA exists – also not a conspiracy theory.

HAARP does exists. The HAARP program is no secret. Their own website states that: The HAARP program is committed to developing a world class ionospheric research facility consisting of: The Ionospheric Research Instrument (IRI), a high power transmitter facility operating in the High Frequency (HF) range. The IRI will be used to temporarily excite a limited area of the ionosphere for scientific study. Even World renowned Stanford University knows about and publishes reports on the activities at the HAARP installations – Experiments with the HAARP Ionospheric Heater – http://vlf.stanford.edu/research/experi ... ric-heater. According to Stanford -

The High Frequency Active Auroral Research Program (HAARP) facility is located in Gakona, Alaska at 62.39º N, 145.15º W, near mile 11 of the Tok Cutoff Highway. The facility houses many diagnostic instruments for studying the ionosphere, but the highlight is the HF transmitter array. This array consists of 15×12 crossed dipole antennas, which together can transmit a total of 3600kW of RF power at frequencies from 2.8 – 10 MHz (HF, high frequency range). This power is partially absorbed by the ionosphere, and though only a tiny fraction of the power it naturally receives from the sun, can still produce subtle changes that can be detected with sensitive instruments.

The VLF group focuses on using HAARP to generate ELF and VLF waves through a process called modulated heating. Such experiments have been conducted since 1999.
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