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14 Reasons Why The Economic Collapse Of Japan Has Begun

The economic collapse of Japan has begun.  The extent of the devastation is now becoming clear and many are now projecting that this will be the most expensive natural disaster in modern human history.  The tsunami that struck Japan on March 11th swept up to 6 miles inland, destroying virtually everything in the way.  Countless thousands were killed and entire communities were totally wiped out.  So how does a nation that is already drowning in debt replace dozens of cities and towns that have suddenly been destroyed?  Many in the mainstream media are claiming that the economy of Japan will bounce right back from this, but they are wrong.  The tsunami decimated thousands of square miles.  The loss of homes, cars, businesses and personal wealth is almost unimaginable.  It is going to take many years to rebuild the roads, bridges, rail systems, ports, power lines and water systems that were lost.  There are going to be a significant number of Japanese insurance companies and financial institutions that are going to be totally wiped out as a result of this great tragedy.  Of course in the days ahead the Japanese people will band together and work hard to rebuild the nation, but the truth is that it is impossible to "bounce right back" from such a massive loss of wealth, assets and infrastructure.

Just think about what happened after Hurricane Katrina.  Did the economy of New Orleans bounce right back?  No, there are some areas of New Orleans today that still look like war zones.

Well, this disaster is much worse.

The truth is that this is going to be one of the defining moments in the history of Japan.  Hundreds of miles along the coast of Japan have been absolutely devastated.  Authorities are finding it difficult to even get food and water into some areas at this point.

Even before this great tragedy Japan was one of the nations that was on the verge of a national economic collapse.  Their economy had been in the doldrums for over a decade and their national debt was well over 200 percent of GDP.  Now the Japanese economy has experienced a shock from which it may never truly recover.

The Bank of Japan is already flooding the Japanese economy with new yen, and so we may indeed see some impressive "economic growth" statistics at the end of the year.  But just because lots more yen are being passed around does not mean that the Japanese economy is in better shape.

The truth is that a tsunami of yen is not going to undo the damage that the tsunami of water did.  A massive amount of Japanese wealth was wiped out by this disaster.  An economy that was already teetering on the brink is now very likely going to plunge into oblivion.

It is fine to be optimistic, but the cold, hard reality of the situation is that this is a knockout blow for the Japanese economy.  The extent of the devastation is just too great.  This truly is a complete and total nightmare.

The following are 14 reasons why the economic collapse of Japan has now begun....

#1 The Bank of Japan has announced that they have decided to flood the Japanese economy with 15 trillion yen.  That is the equivalent of roughly $183 billion dollars.  This is going to provide needed liquidity in the short-term, but it is also going to set Japan on a highly inflationary course.

#2 Japan’s Nikkei 225 stock average declined by more than 6 percent on Monday.  As the full extent of the damage becomes apparent more declines are likely.

#3 Oil refineries all over Japan have been severely damaged or destroyed.  For example, six refineries that combine to process 31 percent of the oil for Japan have been totally shut down at least for now.

#4 The damage to roads, bridges, ports and rail systems is estimated to be in the billions of dollars.  The damage done to power lines and water systems is almost unimaginable.  It is going to take many years to rebuild the infrastructure of Japan.

#5 Right now the flow of goods and services in many areas of northern Japan has been reduced to a crawl, and this is likely to remain the case for quite some time.

#6 Many cities and towns along the east coast of Japan have essentially been completely destroyed.

#7 Japan's nuclear industry is essentially dead in the water at this point.  Even if there is not a full-blown nuclear meltdown, the events that have transpired already have frightened people enough to cause a massive public outcry against nuclear power in Japan.

#8 Japan is going to need even more oil and natural gas in the long run to replace lost nuclear energy production.  Prior to this crisis, Japan derived 29 percent of its electricity from nuclear power.

#9 Japan is the second largest foreign holder of U.S. government debt, but that is about to change.  Japan currently has about $882 billion in U.S. Treasury bonds and they are going to have to liquidate much of that in order to fund the rebuilding of their nation.

#10 Many factories in Japan are closing down at least temporarily.  For example, Nissan has shut down four factories and Sony has shut down six factories.

#11 Toyota has shut down all production at its factories in Japan until at least March 16th.

#12 A substantial number of Japanese financial institutions and insurance companies are absolutely going to be devastated by this nightmare.

#13 Japan's budget deficit was already 9 percent of GDP even before this tragedy.  Now they are going to have to borrow lots more money to fund the rebuilding effort.

#14 Japan's national debt was already well over 200 percent of GDP even before this tragedy.  How much farther into the danger zone can they possibly go?

Sadly, as the economy of Japan goes down it is going to have a huge affect on the rest of the world as well.  For example, Japan is no longer going to be able to buy up huge amounts of U.S. Treasuries.  So who is going to pick up the slack?  Will our government officials beg China to lend us even more money?  Will the Federal Reserve just "buy" even more of our government debt?

Right now there are more questions than there are answers, but what is clear is that the Japanese economy has just been dealt an incapacitating blow.  Hopefully this tragedy will bring out the best in the Japanese people, but no matter how resilient they are, the truth is that this is something that no nation would be able to bounce back from quickly.

Let us hope that the economic damage from this tragedy will be contained and will not spread to the rest of the world.  The global economy is already in enough trouble, and hopefully this tragedy will not cause a cascade of economic failures to sweep the globe.

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  • Mike D

    I think the Japanese people will rise up and go to work to restore their country to its former condition like a swarm of honey bees building a new hive, unlike the blacks and wet backs of New Orleans sitting on their asses waiting on the federal govt. to rescue them.

  • pete bromley

    Man-I’ll bet they wish Godzilla had attacked instead…..they’d have been better off.

  • Kevin

    I don’t know the ability of Japan to withstand a loss of this magnitude. The Japanese are survivors only a few decades removed from the aftermath of WW2. Of course having your former enemy with deep pockets willing to rebuild is helpful. In retrospect the damage post earthquake including reactor meltdowns are far less then the ashes of WW2.

    I will bet that there will be an increased demand for Natural Gas worldwide. Natural Gas power plants cost the least per MW installed capacity, the fuel is abundant and the power plants are built quite rapidly. This is an asset for the US.

  • Peter North

    The sooner the world economy collapses the better, since people in this planet will realize once and for all that the current monetary system is indeed a failure. We need to move to a resource-based economy.

  • Mark C

    “The Bank of Japan is already flooding the Japanese economy with new yen, and so we may indeed see some impressive “economic growth” statistics at the end of the year.”

    You can go ahead and remove this line, cause it ain’t gonna happen.

  • mark

    At least they are not rioting and burning up the rest of their country. If something like this happened in the US, riots would start. Just look at our public union workers when asked to give up a small part of wages towards medical benifits and future pensions. Think how bad it will be when pensions and social security have to be cut or are paid with worthless paper money from printing such a large amount of it. The food and water shortage in parts of Japan should be a lesson learned to every person with a brain in the US. But sadly our people of this nation are becoming dependent on the government. When real hard times come the government will not be there for you. Stock up on food and water for you and your families protection and pray for the people of Japan and all those down wind it this gets real a whole lot worse.

  • mondobeyondo

    Matthew 6: 9-13

  • thisch

    I stopped reading this crap after the first item “This is going to provide needed liquidity in the short-term, but it is also going to set Japan on a highly inflationary course.”

    FYI, the CPI has been going down for 15 months in a row, inflation is the least of our concerns here

    This website is so biased it becomes useless

  • Dan McDonald

    As the Japanese own large amounts of American debts, treasury notes, bonds, etc. will they tend to try to sell these to raise the necessary capital to begin their attempt to rebuild? If so will that have a tendency to lead to other nations selling American debt? We Americans have tended to imagine that we are independent of the economics of Japan. But a sell-off of American debt in large proportions by the Japanese could lead other nations to sell off American debt as well. Those who are able to better parse economic relationships than I, please comment.

  • http://www.spiritjewelry.info suzanne

    I had grown up hearing that when the “Big One” finally hits Japan, that Japanese investors will liquidate their holdings all over the world to rebuild Japan. That is something to examine.

  • Maria

    The megaquake and tsunami have dealt a crippling blow to Japan, and that blow will be felt around the world. That is the nature of our interconnected world.

    At any other time, news of their market collapse may have been the world’s primary focus, but now it seems a cheap blow…as the market jackals abandon their carrion…running off in a pack hunting for their next prey.

    In comparison to the tremendous loss of life and the unbelievable devastation, news of their markets failing seems more like insult on top of injury.

    The rest of the world is pausing…watching…praying that the nuclear meltdown can be halted, that those who survived receive aid, and that another megaquake does not happen.

    America! Have you noticed one glaringly obvious thing missing in all those devastating scenes coming out of Japan? You don’t see mobs of people running around like crazed animals looting stores, or thugs shooting at police and firefighters trying to do their jobs.

    Their country may have been destroyed, but their dignity has not.

  • Nexus

    The Japanese have mother nature to blame for the destruction and coming hardship whereas the destruction of the US economy has been done without the intervention of mother nature.

  • http://n/a jgouig

    Well, it’s amazing, but ever since this guy started writing this blog, all this holy sh*t has gone down which just gives him more to write about! Earthquakes, tsunamis, revolutions, political scandal…all feed him grist for his mill. And yet, even though he keeps saying, “Any month now!”, it still hasn’t happened–I mean the all-time meltdown he keeps predicting–and it’s been a couple of years already! (Same with my brother, if you know what I mean…!) While he wants to end up saying, “I told you so”, what he doesn’t seem to understand is that people in power will try to do something ABOUT all this, and not just sit back and go “duh” and let it happen…even though I mostly agree with his observations!

  • Eric V. Encina

    Has The Tsunami In Japan Destroyed The Japanese Economy?

    The answer is “No”! If ever there is, this is not the main cause. Japan is also a victim of WESTERN-BASED-GLOBALLY-MANIPULATED DEBT FINANCE DISASTER CAPITALISM AND COMPOUNDED USURY.

    The Bank has been accused of PRINTING MONEY like crazy.

    But this is the only solution. Borrowing money from private, foreign and international bankers at interest is further and father worse, and going to be more than TSUNAMI Tragedy in Japan.

    Japan, in order to recover from the ravages of

    Tsunami must continue to create and print

    money debt-free by the facilities of its own

    Bank of Japan Central Bank other than borrowing

    money at interest from the private, foreign

    and international bankers.

    DEBT FINANCE DISASTER CAPITALISM AND

    COMPOUNDED USURY IS THE GLOBAL

    FINANCIAL TSUNAMI worse than all

    Tsunamis ever happened, and and is or are

    presently happening and going to happen.

    Japanese Tsunami is going to be aggravated by the Tsunami of debt-based borrowings. The national debt of Japan is now recorded at 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 downto 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.

    Japan and the Japanese people can recover from the aftermath of calamities, not through BORROWINGS, by creating and printing money debt. And all nations in calamity and or in the proximate dangers of calamity must create and print money debt free away from the nostrums of debt finance-tsunami-like disaster capitalism and compounded usury.

    Eric V. Encina

  • Eric V. Encina

    The ALPHABET of DEBT FINANCE “TSUNAMI- LIKE-DISASTER” Capitalism & Compounded
    Usury

    (or why the economy cannot be fixed under the present Dinosaurian System)

    a. Capitalism requires debt through the creation of money

    “ex nihilo” out of nothing by the banking system.

    b. Debt requires usury to create compounded and un-payable

    debt.

    c. Usury requires the counterfeiting of money more than 100 times

    more than the original loan.

    d. Debt-based money at usury requires funding orchestrating

    violence, protests and wars all over the world

    Third World War is extremely imminent in 2012-2013.

    . U.S. approved $40 billion in 2009 private arms sales

    e. Debt-based money at usury requires and mandates the

    creation of technologies to create and cause CALAMITIES of

    global proportions. The current one is Tsunami in Japan.

    f. Debt finance disaster capitalism at compounded usury

    causes chains of horrendous debts of hundreds to billions

    of peoples across the planet without any hope in sight.

    g. Debt Finance disaster capitalism at compounded usury

    causes the most shackling and hair-raising debts of 94

    nations on earth without any hope at all of emancipation.

    h. Debt Finance causes the universal debt and usury

    holocaust of hell-like proportions.

    i. Debt Finance Disaster Capitalism at compounded usury

    causes, creates and imposes by intimidation and blackmails

    the sea of taxes including suicide and death taxes and of

    all kinds of legalized robberies to feed the banking cartel

    and the bankers.

    j. Debt Finance Disaster Capitalism causes of all kinds of

    scams, racketeering and ponzi schemes. The Banking

    System is the mother and synthesis of all scams,

    racketeering and ponzi schemes in the world today.

    k. Debt Finance Disaster Capitalism and compounded usury

    promotes the proliferations of high scales gambling

    and illusory lottery industries in the world that only

    benefit and profit in favor of the rich and the powerful.

    l. Debt Finance Disaster Capitalism and compounded usury

    provides funding for weapons of mass destruction.

    m. Debt Finance Disaster Capitalism and Compounded Usury

    finances, harbors and protects continental and global

    drug trafficking.

    n. Debt Finance Disaster Capitalism and Compounded Usury

    finances, harbors and promotes artificial population

    control programs and abortion industry that use the

    unborn children as raw materials for lucrative profits.

    o. Debt Finance Disaster Capitalism and compounded usury

    finances, harbors and protects drug and medical mafia

    industry.

    p. Debt Finance Disaster Capitalism and compounded usury

    finances, harbors and protects Vaccination Mafia Industry

    to main, paralyze and create zombie human beings on

    earth, and or to keep populations in the bondage of

    diseases, and or to create degenerative diseases for profits

    and or to kill off populations.

    q. Debt Finance Disaster Capitalism and compounded usury

    finances and harbors multinational companies for

    environmentally-destructive investments.

    r. Debt Finance Disaster Capitalism and compounded usury

    finances Export and Import National and Global Trade

    Unethical Practices for the benefits of globalization for

    the rich and powerful echelons.

    s. Debt Finance Disaster Capitalism and Compounded

    Usury finances and harbors exportation of human beings

    as slave-workers overseas where abuses, human

    trafficking, trade flesh, sex tourism and Prostitution

    Mafia and Industry are rampant beyond any imagination.

    t. Debt Finance Disaster Capitalism and compounded is

    involved in most unethical national and global marketing

    gimmicks.

    u. Debt Finance Disaster Capitalism and compounded usury

    finances pornography industry for the most lucrative

    profits.

    v. Debt Finance Disaster Capitalism and compounded usury

    finances dangerous sports, movies and entertainments

    that promote wrong values, encourage vices, fame-power

    addiction and immoralities – all for profits.

    w. Debt Finance Disaster Capitalism and compounded usury

    finances weaponized viruses such as dengue to extirpate

    the populations.

    x. Debt Finance Disaster Capitalism and compounded usury

    creates unnecessary hunger, starvation, famine and

    poverty all over the world.

    y. Debt Finance Disaster Capitalism and compounded usury

    mechanically and deliberately causes the CHRONIC

    SHORTAGE OF MONEY, losing its value, increasing

    prices of basic needs and commodities.

    z. Debt Finance Disaster Capitalism and Compounded Usury

    causes the LOSS of Faith, abandonment of the belief and

    faith in God, creates and adores satanism in the world and

    makes all human beings satanically hijacked.

    Jewish Charity:

    “When in a settlement in the land that G-d your Lord is giving you, any of your brothers is poor, do not harden your heart of shut your hand against your needy brother. Open your hand generously…make every effort to give him, and do not feel bad about giving it, since G-d your Lord will then bless you in all your endeavors, no matter what you do. The poor will never cease to exist in the land, so I am commanding you to open your hand generously to your poor and destitute brother in your land.” Dvarim (Deuteronomy 15:7-11)Category:Jewish charities – Wikipedia, the free encyclopedia, Judaism 101: Tzedakah: Charity.

    Islamic Charity:

    What is Islamic Charity?, http://www.iazf.org/donat.htm, Islam and Charity: Islamic Charity or Muslim Charity?,www.ezsoftech.com/stories/mis51.asp.

    Prophet Muhammad (S) said: “There is no person who does not have the obligation of doing charity every day that the sun rises.” Whereupon he was asked: “O Messenger of Allah (SWT), from where would we get something to give in charity (so often)?” Prophet Muhammad (S) replied: “Indeed the gates to goodness are many: glorifying Allah (SWT), praising Him, magnifying Him, saying ‘There is no god but Allah’, enjoining the good and forbidding the evil, removing (any source of harm from the road, listening to the aggrieved, guiding the blind, showing the seeker his need, striving as far as your two legs could carry you and with deep concern to give succour to him who asks, carrying with the strength of your arms (the burdens of) the weak. All these are acts of charity which are an obligation on you.” And Prophet Muhammad (S) added: “And your smiling in the face of your brother is charity, your removing of stones and thorns from people’s paths is charity, and your guiding a man gone astray in the world is charity for you.”

    Ecumenical Charity:

    The Ecumenical Order of Charity ~ Welcome, Dialogue – Unity, Freedom, Charity, Brazil: Where Charity Becomes Ecumenical – Featured Today ….

    Consider our Jesus Christ prayer to his Father: ‘may they all be one… that the world may believe that you sent me…’ (Jn 17.21) and St Paul’s plea: ‘spare no effort to make fast with bonds of peace the unity which the Spirit gives’ (Eph 4:3)

    Non-Sectarian Charity:

    It is also important not only to fight against money and wealth addiction but also to promote life-saving charitable help the poor and the needy, to practice a non-sectarian method of charity. Let us not be choosy to help others in need when there is a chance and truth to help.

    Eric V. Encina

  • Brian McRea

    There is hope for Japan.
    News footage of Japanese army personnel helping with the disaster showed them to be armed with only a radio and their hands.
    When American army personnel went to assist with Katrina, Haiti and others, they were so heavilly laden with machine guns, flak jackets and an array of other offensive material that they would be totally incapable of rendering any assistance whatsoever?
    Two vastly different philosophies.

  • Total Vindication

    When I see the carnage of the tsunami/earthquake the images of suffering and death I am reminded of the carnage and death that Japan caused in Asia in the 1930′s and 40′s.

    Japan has never apologized, acknowledged or paid monetary damages for the 20 Million Murders that they are guilty of from the last century.

    It seems clear that Japan had better apologize and try to make up for the horrors that they caused.

  • Jeff

    The Japanese people are not a bunch of whining crybabies, like Americans.

    After all, they built the world’s 2nd largest economy, after the devastation of two nuclear bombs.

    Do not underestimate the Japanese people. They will surprise all of us.

  • mondobeyondo

    The Japanese economy will be ravaged by this event. Just look at the Nikkei index. They will recover, but it’s going to take a very long time – they have been dealt a body blow and a punch by Muhammad Ali at the same time. If you expect everything to be hunky-dory by May 16th, 2011, you are sadly mistaken.

    But that is our (American) mindset. We want our problems solved immediately. All family and social problems solved in a 30 minute TV sitcom. Instant coffee, instant breakfast, instant solutions to decade-old problems…we want our challenges microwaved. Life does not work that way!

    Sorry to burst your bubble, but Charlie Sheen’s and Lindsay Lohan’s antics are not national crises. What happened in Japan IS!

    Yes, the Japanese will get through this. But it will take a while. No, not by 2016. It will take a bit longer than that. Our attention spans in this “instant, now, me me me” society… Japan’s comeback will be complete when Justin Bieber has gray hair, not long hair.

  • Matt

    Disaster-driven huge inflation dead-ahead. Today is the day to load up on SILVER and GOLD at their panic-driven sell-off discounts!!!! I may be wrong since no-one has a crystal ball but how would you bet?

  • Dan McDonald

    Pat Buchanan, while overly protectionist in his view of things, has raised an important point in an article about Japan. He points out that Japan has a demography problem. It has the highest median age in the world, with a median age of 45 years old. This is not the same Japanese demographic that rebuilt after WWII. Japanese families have struck the ideal sought for by the Chinese government. They have 1.27 children per family, whereas replacement levels call for 2.1 children per family. Demographics of a nation often is a good predictor of how a society goes. A large 20 something culture builds families and futures. A large population of 60 year olds try to hang on. Will the large older Japanese population be able to build for the future? I think they will try, because Japanese do not give up easily. This may prove a turning point, but which way the turn goes, I don’t know.

  • Liberte

    Their lack of diversity is their strength. They were brutally attacked by an atomic bomb built by bankers in 1945 and they bounced back. They will bounce back from this also.

    Detroit, on the other hand, was brutally attacked by bankers around the same time frame. Rather than use atomic bombs they used diversity. Detroit will never recover.

  • Phrygian cap, aka Michael2

    Given the accelerating decline globally of ecosystems, the increasing intensity of storm systems and human stubbornness to change, I would say many, if not all of us, are pretty much living on borrowed time. This would include the super rich, which appear to look like and operate like a cult and who seem to think they can control and dominate all of life on earth.

    If the alleged and long suspected New World Order is supposed to be based on a resource depleted, burned out, war torn, shit hole of an earth, with the majority of left over human beings suffering, they deserve congratulations because we are well on our way to it.

  • epicure3

    Japan will bounce back. They are an extremely resilient country and people. This doom and gloom garbage is just that. Garbage.

  • Tim

    Marc Faber is predicting many more rounds of quantitative easing by the Federal Reserve. If Japan has to liquidate some of its Treasury holdings, the Fed just may have to fill in the gap. But the Fed is buying 70% of Treasury issuances now!

  • Laticia

    Pretty convincing, but, I suspect, a bit inaccurate.

    First, the disaster is far worse than the writer of this article realizes. The nuclear catastrophe, in the long run, poses GREATER risks to Japan’s survival than the tsunami itself. Parts of Japan, including Tokyo, might be forever contaminated. Longevity in Japan overall is going down, and cancer rates in the country as a whole are tragically going way up.

    If we add this nuclear horror (predicted in general outline by many writers, decades ago, e.g., Ralph Nader), the situation is indeed dismal. But, on the other hand, a well-managed country can survive almost anything. Witness, for instance, the resurgence of ancient Athens after an even worse disaster during the Peloponnesian War, and there are many other examples.

    So, the key question for Japan is this: Can the Japanese people get rid of their corruption-infested government and their American masters, and replace them with clean politicians who care about the future of their country? If they can, they will recover fully and more within a few years. In the likely case that such a revolution doesn’t take place, Japan is indeed facing a precipitous decline.

  • Poor Taste

    “tsunami of yen”? “flooding the Japanese economy”? “dead in the water?” Really?

  • comnenus

    The towns which were lost were mostly agricultural and fishing towns. They won’t be replaced but it won’t really put too much dent on Japan’s economy.

    The nuclear plants are the biggest danger; everything else is secondary.

  • comnenus

    >suzanne
    March 15th, 2011 at 5:43 am

    >I had grown up hearing that when the “Big One” finally hits Japan, that Japanese investors will liquidate their holdings all over the world to rebuild Japan. That is something to examine.

    The regions which got destroyed are the regions which don’t have to be rebuilt. Would you rebuild Detroit if it were hit by a huge quake?

  • DownWithLibs

    Watch Japan’s recovery very closely. THEY are going to show the world just how it is done!!

  • realist1

    Hey Peter North,
    “resource-based economy” Ha Ha Ha!
    No matter what you call it, communism is still communism you f@#$ing ass.

  • mondobeyondo

    Here comes today’s episode of “As The World Burns”… cue the theme music! (“Like sands through the hourglass, so go the Days of Our Lives”… oops, wrong soap opera. Sorry!)

    Chapter 1 – Japan: The implications for the Japanese people and economy are rather obvious. The vast majority of their resources and physical energy will be spent rebuilding their infrastructure, and getting “back to normal”. The Japanese HAVE to do this. They are a modern First World economy. Toyota is the #1 automaker in the world. Japan is not Haiti. Those broken factories and houses will be rebuilt in very little time.

    Chapter 2 – Nuke Crisis: Not to be brushed aside or discounted – it is indeed a very serious crisis. But the MSM seems to be hyping it up as the next big global catastrophe – the only thing missing are photos of mushroom clouds. You can almost hear the CBS news director screaming, “Quick! Get that picture of Hiroshima over Katie Couric’s shoulder! What a nice background graphic!” Calm down, they’ll get this under control. (The explosions at the nuke plant so frequently shown, were hydrogen gas explosions, not nuclear explosions.)

    And now, it’s time for a commercial! Buy a new Roasty Toasty granola bar! Full of nutrients and vitamins. Roasty Toasty, the peoples’ choice! On sale at Wal-Mart! Watch “American Idol” tonight! 10pm eastern, 9pm central time!

    Okay, we’re back…Chapter 3 – The Financial Implications: The Nikkei is falling like a rock. No, it’s more like an anvil. The Dow Jones and European indexes may follow. This is not good. Oh, my poor dear 401(k)! But it goes deeper than that. Japan holds a good deal of U.S. debt. How will this affect our so called economic recovery here in the U.S.? And I don’t have to explain how interconnected the global economy is today. All for one, and one for all…maybe that’s the wrong phrase. Sounds too “one-worldish”.

    Toyota, Honda and Nissan have shut down their factories for nearly a week in the affected area. If you don’t know why… um, well, there’s always Google, or CNN, BBC, Al-Jazeera, Le Monde…. You’ll figure it out after a while. (Hint: Much of Japan’s electric energy comes from nuclear power)

    Thank you for tuning in to today’s episode of “As The World Burns”. Be sure to watch tomorrow’s program: “Scared Straight – or Scared $hi+less?”

  • mondobeyondo

    We think we’re so great. We can split atoms and build space stations. We can genetically modify corn seeds. But we can’t create an amoeba in a lab dish.

    And we can build “hurricane proof” housing on the Gulf coast, and buildings that can withstand earthquakes.

    Just don’t play poker with Mother Nature. She wins every time. She always has the winning hand.

    Remember the Titanic? It was unsinkable…

  • David

    Japanese people may come back from this disaster, but no one can bring back the lost lives of millions! That is the sad part of the whole thing. We can always replace things in life for sure and it will take years—– assuming if the global crisis is under control and no other intervention by mother nature may occur—— but we can not replace human´s life.

  • Kevin

    Liberte

    The Japanese had a lot of guilt with WW2 and their treatment of POWs and civilians was reprehensible. Their willingness to fight to the death required “shock” to get them to do what they had never done before, surrender. Remember it took two bombs. They could have quit after the first one.

    The Japanese are a strong educated people. They will survive this.

  • The Beast

    The Jap people will survive, because their sense of collectivism is great. This is something that should be learned by all of us.

  • Red Sun Sets

    I believe other countries buy US treasuries to manipulate their currencies. Japan can’t sell their holdings to finance its costs of reconstruction. That sounds counterproductive in fact, since wouldn’t cause the Yen to rise? Though, I think the Yen was crashing today, and BOJ intervened, so IDK. Anyway, the article is misrepresenting the issue here in a way that sounds scary.

    Japan is going to go into recession and may bring us down with them. We can’t afford that. We can’t afford the “recovery” we have right now. We are printing money to cover costs already, so there is a real economic danger from this.

    I will remind commenters that a lot has happened in Japan since WWII. Personally I know have little in common with my great grandparents who fought in WWII for the US. It’s probably similar.

    One last note in case you are worried about the nuclear reactors. I have a friend who went to Japan to study the effects of the nuclear bombs on the survivors and their children. He found that the risks to human health were lower than what the models would predict. There were very few long term effects from even that high of exposure. Don’t worry too much…except about your stocks-worry a lot about your stocks…

  • michelle

    the japanese will be the first, if not the only, major economic nation to embrace reality and make efforts to mitigate the earth changes that are arriving at an accelerated pace.

  • 007

    Japan ECB prints a whole new 200 billion. It will go the politically connected. as long as not to many crumbs go to the average man, they will get away with it. This will also give Bernanke an excuse for QE3. what a surprise.

  • http://www.danielrevelationbiblestudies.com Robert Stout

    Excellent article once again!!! There is not enough time in history to rebuild Japan!! Economists have put the current figure of around $1 (T)rillion dollars. Yes!! The Japanese people are very resilient and hard working, but their current debt to GDP and our 882 billion dollars of treasury bonds that they are holding as debt will sink the global economy!!! The US is still printing money 24/7 – 365!!! Wake up folks, another big earthquake is going to happen soon, probably the last 30 miles of the San Andreas fault line!!! Scientists know for a fact that it is gong to be a big one of about 9.2 on the Richter Scale. When places like Haiti, Christchurch in New Zealand, Japan, Chile and several other places in the world have catastrophic earthquake damage, it takes years and years to get back to normal. Read Matthew 24: 6,7,8, and you will all see that we are very close to the end of Earth’s history before Jesus Christ comes in the clouds of glory!!!

  • Bonehead

    Why people here are talking about vindication ? That shows how narrow minded , primitive you are when somehow feel some satisfaction that a nation , has suffered a natural disaster. A natural disaster is all it is , not a punishment from god or whatever your primitive small intellect leads you to believe in.

    Rudd’s goverment apologised to the abuses that their forefathers committed against aborigenes due to political pressures firstly and secondly because it was the right thing to do.
    I have worked with Japanese people for many years and they are truly sorry for the way things developed during the china invasion and the pacific war. If god existed probably would not allow no brainers , vindictive rednecks posting nonsense….. but thats not the case.
    \And … lastly, Japan will work very hard and surpass everybodys’ expectations in this recovery. They will work 16 hours a day if necessary and expect no extra pay for their efforts . Go Japan

  • Ryan

    The “Japanese” who perpetrated war crimes against Asians are already suffering their judgment, since, like Harry Truman and the Manhattan Project engineers, and American slave-holders, none of them are alive today. Why is it necessary to keep trying to indict their children again and again?

  • http://en.wikipedia.org/wiki/Japanese_war_crimes#Mass_killings Proud Japanese

    The Japanese are amazing people, and they will survive — and HERE’S WHY:
    They have
    piles
    of research findings gathered from the living human experimentations
    they
    conducted, which they can quickly make use of today in effectively dealing with
    post-tsunami disease epidemics. Long live the empire of Japan!

  • mondobeyondo

    Perspective. Perspective. Perspective, baby.

    One man’s trash is another man’s treasure, which is another man’s gold mine.

    Take off the rose colored glasses, or sit back and relax, and wait for something, or someone, to shatter them for you.

    In the end, it won’t matter. Your comfortable, cozy little world, as you know it today, will never be the same.

  • mondobeyondo

    Okay, so I mispelled “perpective”!!

    Go ahead, throw those rotten eggs my way!

    I’m ready. (Duck and cover!!!)

  • http://johnturmel.com KingofthePaupers

    Jct: One reason all the other 14 reasons don’t really matter is that 60% of the population belong to a Health Care Hours timebank: Fureai Kippu. When they run out of bank dollars, they can pay with their LETS GreenYen from their timebank accounts. (In Canada, we pay $12 Greendollars to the Hour, in US, $10Us to the Ithaca Hour, in Germany, 20 GreenMarks to the Hours).
    When their orthodox banking system crashes, they’re already networked into barter lifeboat with Hour IOUs as the interest-free currency. When your banking system crashes, do you have your LETS timebank lifeboat barter network set up? What are you waiting for? See my lifeboat: http://www.facebook.com/home.php?sk=group_146919308704209

  • http://www.pathtoasia.com rhea

    With all the natural disaster that has been going on, the earth is alive and now giving back what humans has done to her. This disaster has destroyed the present of hundreds of thousands but it has impacted the future of billions.

    We help Americans find jobs and prosperity in Asia. For details, visit http://www.pathtoasia.com/jobs/

  • http://TELSTRA martin

    PLEASE BE AWARE THE PACIFIC BASIN WILL BE THE RULING POWER OF THE WORLD AND THAT INC JAPAN THE USA AND EUROPE ARE FINISHED PEOPLE OF THE WORLD WAIT AND SEE WE AHVE ALL THE WORLD NEEDS

  • G

    These comments are LOL worthy, indeed.

    Some of you need to take a primer on economics and specifically, monetary theory.

    Creating credit in the absence of productivity will only raise prices on the goods that still exist — what’s left of them.

    One other thing I thought of that wasn’t mentioned is the fact that much of arable coastal land was made fallow by salt water. Japan is a country that already has to import much of its food. This is going to put a lot of pressure on food prices for the rest of the world. Buy rice futures…?

  • Gabrial Singh

    the racist tones of your posters, makes me conclude, the bunch of you are the whiners and losers of Amerika. Now go back to your corner and continue to suck your thumbs, whiners and babies and complainers, what the USA has become a nation of.

  • William

    Peter Schiff, the guy who predicted the housing bubble on national TV was ridiculed but was dead on. He says he wished the US economy was in as good a shape as the Japanese economy. He says big difference in borrowing from brothers and sisters than strangers. Further, what the US needs is a strong dollar not a weak one and predicts collapse of dollar before the yen. Don’t listen to public media propaganda. Peter has been dead on.

  • Mkelley

    Here is a great article by a true nuclear expert that shows how overblown and inaccurate all the news about nuke plants in Japan has been: http://nicedoggie.net/?p=628
    The comparison of Japan to New Orleans seems like apples and oranges to me. The Japanese, even the old ones, are famous for their industriousness. Many residents of New Orleans, however, are more known for their criminality and welfare dependence. Everywhere that got refugees from Katrina saw crime surges. I never heard anyone say “there goes the neighborhood” when some Japanese moved next door.

  • Daka

    The Japan will pull out. And more to that , – even US will pull out eventually. You want to know how? All that needs to be done is that American government will start killing Americans, and Japanese government will start killing Japanese. Their governments will want to start the war, not just a little invasion here and there, not, they would want to have an enemy that would threaten the existence of the motherland.

    Why would that work? The common wisdom says that it works because of the spending incurred. Don’t you let this bull to deceive you, – that is not how it works!

    Any government works by stealing from their own citizens and the rest of the world. Stealing is much easier to do, if the people believe that the times are extraordinary, and that the nation’s survival depends on his effort and selflessness.

    Look at FDR. He had the Great Recession, and he couldn’t pull out of it, so what did he do? He goes and makes a bitter enemy in the face of Japan, attacks it constantly, until Japan blows up and returns all the favors in an attack on the Pearl Harbor. He then declares it to be a holy war to save the motherland and proceeds to annihilate Japan with nuclear weapons.

    What happened? Well, because of the war, government gets:

    - the absolute command of the economy
    - the powers of confiscation
    - the powers of incarceration
    - the powers of banishing

    So, in effect, what the government does to it’s people during the war is this:

    - it dictates what needs to be produced, and what is banned from being produced. This orients the remaining capital towards the most vital infrastructure and production, at the cost of everyone not in those segments losing all their capital and possibly being banished.

    - it forces a whole nation to work without just compensation, through capital controls, price controls and wage controls. This is a confiscation on grand scale, but the government gets away with it, because the people are running around with their head filled with emotions.

    - it incarcerates millions for various offenses, such as being Japanese. This makes those remaining free to work extra hard, and to give up any claim on anything that should rightfully belong to them.

    - it banishes a significant part of it’s population to go away and stay away for few years, risking death every minute. What this does to them is it makes them agree to anything if they could only come back. When they comeback, they will work literally for free, and they will love their government for what it has done to them.

    All of this can also be achieved by simply beating the people, killing some, and making them do what you want by force. However, the war gives the government extra and most unbelievable benefit: in that grown men who would otherwise rebel and become robin-hoods in thousands, are unable to discern what is being done to them, are drowning in their emotions which the mass media whips up daily, and remain tame slaves, projecting all their resistance to an outside enemy (who is usually under similar attack from their own government).

  • Nozomi 500

    Hi,

    I am someone who has been to Japan many times, is half Japanese, and has many dear relatives in the Tokyo area, all of whom are fine post disaster. As someone who understands the country a little, and has a lay person’s interest in economics, and has been studying it privately for at least 10 years, I have to say there are some misconceptions in this 14 point list that should be addressed.
    I believe 100% in a monetary system collapse in the US in the next 5-10 years, understand crossing seigniorage levels past a threshold & the onset of hyperinflation as a consequence, and tend to distrust main stream media. So, do not think that I am a mindless, cheerleader for anything that mitigates cognitive dissonance, and fear in my being. I have always been driven to understand how the world works for my own curiosity, and will not listen to authoritative blather that keeps society at ease. So please do not discount my arguments on the basis that I am a mindless idiot.

    #1 The Bank of Japan has announced that they have decided to flood the Japanese economy with 15 trillion yen. That is the equivalent of roughly $183 billion dollars. This is going to provide needed liquidity in the short-term, but it is also going to set Japan on a highly inflationary course.

    The BOJ has monetized US debt before, and this is another example of a central bank running printing presses. However, in the case of an extreme disaster with many infrastructure, and supply chain disruptions like this it is essential to inject money into the economy to stave off a major contractionary spiral. The Marshal Plan would have had been the same thing if European central banks tried to create their own money to fund reconstruction. The money has to come from somewhere, and Japan has the capacity to generate more monetary expansion for the time being. See notes on Japanese national debt below.

    #2 Japan’s Nikkei 225 stock average declined by more than 6 percent on Monday. As the full extent of the damage becomes apparent more declines are likely.

    Stock markets are fickle everywhere. The markets are also driven by psychology, and are fairly disconnected from actual economic activity. This does not portend a collapse of the Japanese economy.

    #3 Oil refineries all over Japan have been severely damaged or destroyed. For example, six refineries that combine to process 31 percent of the oil for Japan have been totally shut down at least for now.

    Oil refineries are incredibly complex systems. Undoubtedly they are being inspected for safety, and will be brought back online in due time.

    #4 The damage to roads, bridges, ports and rail systems is estimated to be in the billions of dollars. The damage done to power lines and water systems is almost unimaginable. It is going to take many years to rebuild the infrastructure of Japan.

    I recall hearing within two weeks after the tsunami that the Japanese rebuilt a major highway in the area within 6 days. My friends and I were shocked, and we all literally said, “The Japanese people are ants!” It will take many years, but one should never underestimate the motivation of the Japanese people. Look at what they did after the destruction of WWII to become the world’s umber 2 economy, then number 3. China edged them out on the basis of population alone, not on a per capita or efficient utilization of available resources.

    #5 Right now the flow of goods and services in many areas of northern Japan has been reduced to a crawl, and this is likely to remain the case for quite some time.

    Sure, this impacts any disaster or war torn area. The industriousness of the Japanese people has solid precedents.

    #6 Many cities and towns along the east coast of Japan have essentially been completely destroyed.

    Sure, this impacts any disaster or war torn area. The industriousness of the Japanese people has solid precedents.

    #7 Japan’s nuclear industry is essentially dead in the water at this point. Even if there is not a full-blown nuclear meltdown, the events that have transpired already have frightened people enough to cause a massive public outcry against nuclear power in Japan.

    The Japanese people are sadly very docile, and stoic. Look at them quietly standing in orderly lines at shelters in Sendai, in spite of losing families, their whole neighborhoods, their whole communities, and their life’s material accumulation. From day 1 I told my relatives in Tokyo via email, that there were core meltdowns, and were going to be more. I remember thinking up probable military assistance request lists before Fukushima popped for cargo birds, CH47’s to sling load generators, generators, and for technical assistance from GE the manufacturer of the reactors. Unfortunately the crisis management, and social order components of the Japanese character meant they sat around trusting the government and Tepco lies. The Japanese do not riot in their streets, loot, or start revolutions. It is not in their nature. They will also not go to nuclear facilities with pitchforks demanding their shutdown. They are reasonable, but too trusting in authority. Bottom line, they will not force the nuclear industry in Japan to shut down overnight or probably ever.

    #8 Japan is going to need even more oil and natural gas in the long run to replace lost nuclear energy production. Prior to this crisis, Japan derived 29 percent of its electricity from nuclear power.

    This is valid to the extent that you will see a diminution of the nuclear industry.

    #9 Japan is the second largest foreign holder of U.S. government debt, but that is about to change. Japan currently has about $882 billion in U.S. Treasury bonds and they are going to have to liquidate much of that in order to fund the rebuilding of their nation.

    They can always monetize our debt as they have in the past, and who needs it with QE? The fed will do it anyways. They want to push the dollar out of existence deliberately to transition to regional, and then a global currency. Unless this triggers a speculative rush, don’t expect this to collapse the dollar. This helps the Japanese economy not hurts it.

    #10 Many factories in Japan are closing down at least temporarily. For example, Nissan has shut down four factories and Sony has shut down six factories.

    “At least temporarily”. Export demand will keep those plants operating in the long term, and domestic demand will not be diminished outside of affected areas.

    #11 Toyota has shut down all production at its factories in Japan until at least March 16th.

    “At least temporarily”. Export demand will keep those plants operating in the long term, and domestic demand will not be diminished outside of affected areas.

    #12 A substantial number of Japanese financial institutions and insurance companies are absolutely going to be devastated by this nightmare.

    Valid point. It would be nice to know more about which companies, and the nature of their exposure. 5 years from now, some former Asia financial analyst will write a detailed book on it.

    #13 Japan’s budget deficit was already 9 percent of GDP even before this tragedy. Now they are going to have to borrow lots more money to fund the rebuilding effort.

    See Below.

    #14 Japan’s national debt was already well over 200 percent of GDP even before this tragedy. How much farther into the danger zone can they possibly go?

    This is a shocking statistic. They are technically worse off than the US, almost twice as much. I used to wonder how this could be. Here are the reasons why it is not as terminal as one might think. The Japanese citizens hold the largest component of their own national debt. Additionally the traditional Japanese savings rate was extremely high. My mother has even commented on a few occasions how much the young generation is saving all of their money. The shallow depression they have been in for at least 12 years due to lack of internal consumption has driven the younger generation to save money, and not have it all like Japan’s “Baby boom” or WWII baby generation. As a society despite their generational disparity, and aging population Japan is a great deal more solvent, and stable than the United States. Debt fueled plasma TV’s and unsustainable mortgages in America. Lot’s of Walmart chintz comprises the trickle down or multiplier effect from American debt. Also lot’s of concentrated wealth via bonuses comprises recent debt. Japan on the other hand has the best transportation network, heavy government R&D subsidies for industry, and extremely modern infrastructure for their debt. Big difference between fading Playskool on lawns, large, garish, spiral strawed plastic cups, and fat cat Ferraris, and bonus money to leverage even further in more derivatives versus the sleek, modern infrastructure in Japan. The dynamics are different. Japan has a long term problem yes. They will not disappear because of Sendai however, and their decline will be so slow that demographics may even change in their favor. Aging post industrial societies emerged in the last 100 years, and no one can predict what might emerge in Japan, Europe, and the USA in the future. Don’t count Japan out yet.

    By the way, I am a patriotic American, but a disillusioned, and realistic one. Our public education produces 50% functional literacy, Japan’s produces 100%. Many Asian students from all nations here in America regard White people as being dumb. I know, I know, how racist. I’m half White by the way, and proud of my German, English, Irish, and Scottish heritage. The thing is objectively the Asian kids are right.

    I just watched the Tom Hanks movie on America’s space program, and its greatest moment of teamwork, and triumph last night, and have to say that we are no less capable than anyone. There is no ethnic bias for intelligence but there is a growing cultural bias for it now. I know a former NASA engineer, and plenty of smart people who made America great. They are from yesterday’s generation. Asians push their children to strive, and perform. Like Jewish people they are highly educated, and emphasize achievement. We have seen America go from the best and the brightest people to people who equate another tattoo or piercing with achievement or a reason to have pride in oneself. Seriously we spend all of our time watching reality TV, or American Idol (Avg 20 hrs. per week), and zero with our children, in the gym, enjoying the arts, in school, or self educating for career or personal development. What do you expect? I frankly would be a lot more concerned about our Romanesque empire at home than about the Japanese. Their only problem is their import dependence due to a lack of natural resources. Shy of that they have nothing they can’t handle. We on the other hands have gone from being the greatest nation founded on the greatest ideals to a bunch of fat, lazy, weak minded, emotionally damaged, intellectually stunted moral perverts who stick metal, and ink in themselves, and go into debt for 22” spinners & loud speakers in the trunk. As a 34 year old, I revere my Grandparents’ generation WWII, the one in between it, and the boomers, and about 45% of you boomers. After that starting with the ME generation preceding mine at 35% in quality, and my own X at 25% in quality, and the xbox kiddies below I have zero respect. I think we need to hit bottom, and suffer with starvation for 50-60 years before another Depression/WWII era generation emerges, and helps our country back onto good moral, G-d fearing ground.

    Just my 2 cents.

  • Bill

    Yes i think the disaster in Japan will send many japanese financial institutions into ruin. I dont think Japan can weather this disaster alone. Yes Japan is a nation of savers that own most of thier own debt, but Japan has another big problem, and that is not enough working age people to support the aging japanese population, and this problem is getting worse due to the japanese family getting smaller. Cmbine this problem with the natural disaster and its a worse picture. I think other nations will have to come to japans aid to spread the burden of expense of this disaster, call it nationalist socialism or a helping hand , but they will need outside help or various financial and insurance companies will fail and it could have a ripple affect, and become synergistic with the world wide financial crisis, and dominoes could begin to fall, with nobody knowing where they will land. I think in this case it would be better to act first, not react later. America is no longer a democracy as we have imagined her to be. America is a corpocracy, where the goverment is “of and for the corporations”. Take any problem, deregulation of banks, deregulation of big oil, free trade, the war in iraq for oil and for the profits arms manufacturers gain in times of war, these are just symptoms of a greater problem of the highjacking of the American goverment by corporations and lobbyists. America is no longer “of and for the people”. Imagine if the banks had not been deregulated, imagine if big oil had not been deregulated, imagine if free trade hadnt been rammed down the throats of the working class by lobbyists and corporations, imagine if we hadnt gone into iraq for oil and arms manufacturer profits based on a wmd lie. Where would America be today if we had not had these problems. I hear and see people taling about fixing the surface problems, but very little is being done to illiminate the root problem lobbyists and corporate influence in politics, and return America to being a land “of and for the people”. It saddens me to see and hear working class people on the right against unions, against social protections like medicare/medicaid and universal healthcare. I would remind those working class people that believe the corporations propaganda, that unions created the middle class, and without unions there never would have been a middle class. So as you join mindset of the corporate propagandists that tend to wrap themselves in a flag in order to capture your admiration of anything they say as being patriotic, be careful what you wish for. Didnt these same right wing corporate propagandists sell you the idea that free trade was good? That banking and big oil deregulation and in general deregulation of industrys and busnesses is good. That invading iraq for wmd’s is good. Now they are trying to sell you the ideas that the unions must be destroyed. They are being short sighted again. The union worker that loses his union job and has to accept a lower paying non union job, without benefits, become the customer of tomorro that walks into thier busnesses with no or very little money in his pocket. How are these corporations going to make a profit when thier workers cant afford to buy thier products? Its a race to the bottom, instead of being a race to the top. Henry Ford said it best when asked why he paid his workers so well, he said”well somebody has to be able to afford to buy my cars”! This is in stark contrast with most countrys of europe, austrailia and canada that have kept there minum wage high and therefore their standard of living is higher and they dont have to worry about going broke and losing everything when they get sick because most first world nations have socialized medicine. However again in our country the health care lobby and the profit on other peoples suffering is big busness. The question of the day and the litmus test of any decision for the future of the American people should be, is this decision “of and for the people” or of and for the corporations”?

  • Jazz

    This article is total crap! No real understanding of a situation.

  • http://www.youtube.com/user/service2others service2others

    Investigate the prospect that the tsunami was engineered. Before you can build the New world order you have to tare down the old system, create the problem before you beg for it to be fixed. Problem, reaction, solution. Most of you are so ingrained into your own version of reality you will just laugh at my comments and call me a conspiracy nut. Well, I’ll make a prediction, things are going to get pretty bad before you bite the bullet and realize i was right. But then, it’s human nature. We have an ego, we don’t allow the possibility that we were wrong. Peace out, you’re here to learn. Learn the hard way then.

  • http://simonwilby8.multiply.com Simon Wilby

    One adjective that defines Simon Wilby is smart. He is the CEO of Smart Power, Inc. He developed

  • HAHAHA

    They deserveed it

  • Emerson

    Contrary to popular belief, Japan actually won WWII since they “earned” more than a $100 Billion with the blessings of the US of course since these two nations divied up the Asian “loot” between themselves. No wonder then that they had a so-called “economic miracle” since they had all that “loot capital” to rebuild their industries.

    Japan has lived beyond it’s means by building bridges to nowhere and the law of diminishing returns has caught up with it. In addition, the hollowing out of it’s industrial base due to the great wage differential with China and other SE Asian countries. All that expenditure to build their world class infrastructure practically failed to yield the expected revenues to sustain their government which consequently had to borrow more to keep itself running.

    Oh and BTW, the Law of Karma has this to say about it’s past deodorized sins to humanity….”What goes around comes around…”

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