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Has The Tsunami In Japan Destroyed The Japanese 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 3rd largest economy in the world?  Japan already had a national debt that was well over 200 percent 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....

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 2.

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 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.

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  • mondobeyondo

    Please say a prayer for the people of Japan. They need our help and our support.

    We might be next. Think San Francisco, 1906…
    or Los Angeles, 1971…

  • Johnson

    Best photo’s here (you can zoom in for even better views):
    ———–
    March 11, 2011
    Massive earthquake hits Japan

    An 8.9-magnitude earthquake hit off the east coast of Japan early today. The quake — one of the largest in recorded history — triggered a 23-foot tsunami that battered Japan’s coast, killing hundreds and sweeping away cars, homes, buildings, and boats. Editors note: we’ll post more as the story develops — Lloyd Young (43 photos total)

    http://www.boston.com/bigpicture/2011/03/massive_earthquake_hits_japan.html

  • gregge johnson

    The World Bank will bail out Japan. All of its people will be debt slaves to the world bank as most counties are now All we need is a few more disasters and it will be> ONE WORLD CURRENCY> ONE GOVERNMENT> ONE RELIGON

  • http://personalmedicalinsurance4u.com Personal Medical Insurance

    This is a human tragedy and one that we must not forget. It is because of these unexpected disasters that we must be prepared. The man-made disaster that we have created with the Ponzi scheme that is called the Fed just might come crashing down if/when the United States is ever hit with something like Japan’s tragedy. Printing fake money will be the cause of our melt down and demise.

  • Liberte

    The Japanese will recover from this. They are a very culturally aware group – more than I can say for Europeans – and this awareness is a great strength.

    The greatest blow to the Japanese was their defeat in WW2 which ripped out their soul and replaced with it with a ******* banking system.

    They have been living in limbo since then, but this disaster, this disaster is only physical, and they will shrug it off.

    God bless all Japanese nationalists.

  • BigM

    It is a very devastating situation for Japan. And as we look over at the (I’m sure) enormous loss of life & property, there is no question it’ll be many years before Japan is back on it’s feet. On the flip side; just as the Tsunami left a ripple across the islands and West coast, surely their economic demise will ripple across the world as well. What’s next? The Saudi’s tumult!

  • http://www.discountsvu.com/compare_price/Speakers-and-Audio-Headsets.html Economist

    Its a disaster in Japan, i think the number of death is more than 500. After a recent economic crisis Japan is once again hit with a natural calamity. I belive the people who got affected due to tsunami will recover soon from their grievences. All the countries should come together to help the affected people.

  • Concerned Reader

    I am curious to see to how China reacts to this situation.

  • Total Vindication

    Japan legalized the “Morning After” Abortion Pill this week.

  • Total Vindication

    No love lost for the evil fiends who murdered 20 Million Asians and lest anyone forget the charming 2 weeks of the Rape of Nanking with 20,000 men, women and children all civlians murdered with swords, clubs and knives.

    A truly horrid people for the most part–mere followers. Japan leads the world in per capita Abortions and 90 percent of the World’s child porn is produced in Japan.

  • Otown Right Guy

    Very sorry for the people of Japan. This is probably far worse than we even know yet. Their economy has been in on life support since the 90s. I need to remind those of you populist protectionist union thugs on this board that back in the 80s people were saying that Japan was going to overwhelm us and we needed all kinds of protectionism or else!

  • mondobeyondo

    Buy more Game Boys! We must boost the Japanese economy! Everyone, buy a Playstation 3!

  • impeachRonPaul

    Maybe one goverment and one currency would be better. Less conflict and more stability.

  • Colin

    There may be casualties of this tragedy who are not living in Japan. While our attention is occupied by this disaster, the Libyan government will complete its suppression campaign against the rebels. When Benghazi falls soon, there will be a massacre.

  • http://www.planorperish.com/ Gutter Economist

    All the talking heads on CNBC are saying that the earthquake will stimulate the Japanese economy. These same people claim that you can increase prosperity by replacing tax revenue with debt and interest payments.

    The damage in Japan will be repaired with more debt and interest payments. Creditors will benefit but everyone else will end up with a lower standard of living. Replacing wealth is not the same as creating additional wealth.

    In addition to debt, Japan also has a demographics problem which is an aging population (less wealth accumulation) and fewer people entering the workplace (less wealth creators). This earthquake may well be the tipping point that results in sovereign debt default.

    In the USA, the Federal Reserve and the United States Congress are causing as much damage as the earthquake in Japan. By watching Japan, Americans can see their own future.

  • Phrygian cap, aka Michael2

    I have been thinking we maybe want to consider the fate of our species at some point.

    Mother Nature seems to be sending strong signals about who is really in charge.
    I saw an article about more fish dying in CA. The bee populations are still declining.

    They are claiming the sun is entering another period of increased activity. On Mar. 19th a super moon occurs.

    Tsunamis are becoming quite regular, typhoons/hurricanes have intensified and tornadic activity has been record breaking. And there is no shortage of active volcanoes or earthquakes either.

  • Marc Savoy

    Has The Tsunami In Japan Destroyed The Japanese Economy?/strong>I had to laugh at the title of the story in the way you
    report the earthquake in Japan, phrase it in the vein of gloom and doom as is how you see everything that goes on.If say, Japan, managed to develop warp drive, uncover the secrets to immortality, no doubt you would be pondering if these wondrous revelations would destroy the Japanese economy as well.

  • http://www.discountsvu.com/compare_price/Speakers-and-Audio-Headsets.html Makesh

    Japan’s prime Minister speech was emotional, Tsunami is a disaster to Japan. I believe the people affected are getting the required help. The international community should come together and help them ASAP. The fire in their power plant has worsened the Tsunami Effect.

  • Region

    I wish to not say more on that.

    Let’s hope they are fine.

  • Kevin

    We tend to point fingers at the US when something business and government has it’s hands in goes wrong. We say, “Oh look they saved money on safety design to increase profits”.

    Well it looks like profit in place of safety is a world wide issue. The US has no monopoly on that short sighted strategy. So far I think the USSR took the cake and I’ll bet China is right there too if not surpassing the profit before safety plan. I just expected more from the Japanese.

    The Japanese nuclear power plant was not designed to take the tsunami that occurred after the earthquake. How educated must one be to not see the obvious? The plant is on the ocean and earthquakes under water cause a tsunami. If you get one your very liable to get the other. No brainer. It’s like locking your back doors but leaving your front doors open on your home. The lack of true redundancy with not having back up cooling pumps run by diesel engines in case of a failure of the motor driven pumps that require a common generator defies logic. That common generator is an Achilles heel that independent diesel engines avoid.

    Lets see if the Japanese trip over their own feet as the US did in the aftermath of Katrina.

  • http://www.discountsvu.com/compare_price/Car-Audio.html dharmanandpant

    Japan has become a repeated victim of Tsunami following other asian countries. I think the number of lifes lost is more than 500, there should be a mechanism built to identify the Tsunami to alert and evacuate the people, this should make sure that no life is been lost.

  • Bob

    Print baby Print and distribute trillions and trillions of unbacked funds to all the banks of the world print like the wind world wide. QE 1 QE 2 QE 3 QE 4 QE 5 take the American lead and Print Baby Print. Put the burden on the next 5 generations. Think like an American Nobel Prize winning Ivy League trained economist.

  • Faux Gary

    Like Gary always says, just tax the rich and distribute the wealth. That’ll solve everything.

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

    Thank you again for the outstanding article about Japan and its struggling economy. It will be interesting to see if China will offer Japan billions of dollars of low interest loans to help them in their time of crisis. Turning to the apocalyptic prophecy and what it says in the Scriptures, no one as yet has said anything about what God Almighty is going to do to the Earth! The book of Revelation reveals that God will soon inflict the World with a series of 14 plagues. These events will not occur in random order nor will they be freak disasters caused by nature. The seven first plagues are called “seven trumpets” in Revelation because they serve the purpose of warning or awakening the people of Earth to the glorious arrival of Jesus Christ. The seven last plagues are called seven bowls because they represent seven full cups of God’s vengeance that He will pour out upon His enemies. Although the Bible completely explains these events, they will come as an overwhelming surprise for most people. As you read through this my friends, remind yourself of two things: First, God so loved this world that He gave His only Son to die in our place and second, God’s patience with defiance and rebellion is limited. During the Great Tribulation, the people of Earth will see God’s perfect balance between justice and mercy. Remember this balance as you consider these things about the Great Tribulation.
    The Great Tribulation will begin suddenly. It will begin with a global earthquake much stronger than the one that hit Japan or 8.9 on the Richter Scale. This global earthquake that effectively disrupts the activities of the whole world. (Revelation 8:5) God has a few things to say to the human race, and He intends to arrest the attention of the world with a massive earthquake that literally stops everyone and everything in their tracks. The sudden cessation of life as we know it will force everyone to stop and wonder what is going on. The book of Revelation predicts there will be a total of four global earthquakes. (Revelation 8:5; 11: 13; 11:19; 16:18) These earthquakes will increasingly rip up the surface of the world, and the infrastructures of travel, communication and manufacturing will collapse during the Great Tribulation. These earthquakes have no equal in recorded history. each earthquake will have greater strength than the one before it. The final earthquake will be so violent that it will literally move all the mountains and islands from their places. (Revelation 16:20; 6:14) Go to this web site for more information:
    http://www.danielrevelationbiblestudies.com You will be eternally glad you did!! May God’s Holy Spirit wake you up and give you the wisdom and knowledge you need to deal with these coming disasters!!!

  • Conservative Constitutionalist

    Our prayers go out to the suffering in Japan.

  • David

    More than 10,000 missing in one town alone; just on news. Japan may be recovered from this disaster by the help of other nations, but I am afraid no one can bring back those lost lives . . . . . . .

  • RunVampRun

    My wife is from Japan and I lived there for 4 plus years thanks to the US Navy! Very thankful all our family over there is safe and sound, but because of space ( small living areas) the food situation is of great concern to us ( very little food stored by our family members). We are ready to bring all our family to the US until thing settle down but not sure if this plan will play out! We have enough space and food for at least a dozen of our family members ( been putting food up for a long time)… Also very concerned about radiation from the power plant and hope this fear is just a false alarm….Glad we have been planing for hard times!

  • http://afford-anything.com Afford-Anything.com

    This will be hard on the Japanese economy. Japan has had bad economic event after bad economic event.

    Japan underwent the “lost” 1990′s, and is (along with the rest of us) enduring the global economic crisis. Now it also has to endure this.

    I hope that Japan can rebuild quickly, ensure its nuclear facilities are safe and secure, and return to prosperity.

  • mondobeyondo

    The Japanese economy will recover from their physical earthquake and tsumami.

    Whether the American economy will recover from its economic earthquake and tsunami, I’m not so sure about that.

  • uruabus

    Japan will survive the disaster.
    This is a sign of things that working for world peace and for all people in the world could only save the world. Anything less than that the nature will show no mercy. The showing of power recently in that area with US navy was a NO NO.
    Hope Japan will now know that it is not about China or North Korea it is about the evil empire and evil intentions and dirty politics. The righteous will prevail the rest perish.

  • http://TheEconomicCollapse Dave

    I know this is going to sound dumb and does not have a lot of economic smarts behind it, but…
    I enjoying playing Simcity on my computer and once in awhile just when I am not able to make the city that I have made work well, workers are leaving, debt is mounting, the program throws a disaster at me that destroys part of the city. In rebuilding the city somehow the kinks are worked out of the system and the city grows and thrives. To bad Japan is not SimJapan.

  • http://onlineeconomicsclasses.com/2011/03/11/the-economics-of-disaster-and-compassion-in-the-japanese-earthquake-response/ Al Broadman

    You guys should really read the article I wrote about who is going to bail Japan out of this incredible nightmare they are in through no fault of their own.

    These times are a changing and we as a culture can either change with them or die.

    harsh I’m sure but give me another solution.

    The Keynesian system of economics is sure not going to get us out of this mess. Their ideas are just plain silly.

  • http://economiccollapse Dang

    Come monday morning The truth will be known if the u.s. gov is really proping up the stock market with tarp money. There,s rumors that i seen on the internet the gov is puting 7 billion dollars a day in there. If it doesnt drop at least 500 point right off the bat something is fishy. Japan is on its last legs. An all the damage there look like take more then 10 years to replace. An beside all the treasures of ours japan has. Plus add to the insurance claims that will be coming do. Just think to of all the property that the banks have to eat even if there do not have insurance. It a snow ball of debt just like american housing problem. Monday should be very interesting day in deed.

  • Davidm

    Very tragic event. Amazingly, they are only estimating the economic damage at between 10 and 15 billion dollars. With all of that devisdation, that is less than 2 percent of what Obama pissed away on the stimulus plan. Someone will bail them out. I hope this does not start any dominos falling though.

  • Richard Van Othrinberg

    HELLO radiation havent we learned enough, why build on a tsunami prone area? or a higly populated area? I know fossil fuels are kill’in us, so why not adress the issue?

  • http://www.pathtoasia.com rhea

    Why does the tragic events that has crippled Japan have to be made political? It is a time for caring and a time to help these people, it could be you next! I for one will keep Japan in my prayers. God Bless.

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

  • http://nono.com the angels donts play this HAARP

    How come no one has mentioned HAARP as the probable cause. It’s easy to have a front like earth distance to moon and solar flares, to cover your tracks. I think that these “disasters” are the new weapons by man. They are covert to a certain extent by which most of the public is unaware. It’s like bombing your enemies without having to get a authorization to go to war. This is how futures wars will be started and fought.

  • http://www.tellusyourjoke.com Harold Crews

    The risk here is whether the tragedy in Japan will trigger cascading cross defaults. The disaster is limited to Japan absent further events but the economic fall out as mentioned in the article could be world wide.

  • William

    Well, the Japanese will surely not be buying any US Treasury debt, as they will need all their money at home. But, not to worry, the FED will just create more funny money dollars to buy any US debt the Japanese will not buy.

  • http://lupussolusluna.blogspot.com LoboSolo

    @Runvamprun … I don’t think you have to worry about radiation. The situation with the power plants has been overhyped.

  • The Beast

    @Dave: Nice way of putting things into perspective.

  • The Sojourner

    China will bail Japan out. Then, Japan will be absorbed into China’s fold.

  • LeanMeanWashingMachine

    After hearing the news, the first thing that crossed my mind was HAARP. And after reading some articles on the earthquake, I find it odd that the way the disaster struck seems, well timed. The world is right in a middle of the re-emarging financial crisis. Japan’s pro-American Foreign Minister just resigned over a minor scandal. etc. etc.

  • vs

    I DON’T KNOW MUCH ABOUT WHAT ECONOMY WILL BE AFFECTED AS PRICES IN MY COUNTRY ARE ALREADY SOARING HIGH BUT THE MAIN THING FOR JAPAN IS THE LOSS OF LIFE WHICH CAN LEAVE THEIR HEARTS AND SOUL RIPPLED FOR EVER.I DON’T REALLY CARE ABOUT MONEY ,I CARE ABOUT THE PEOPLE AND THE RELATIONSHIPS THEY HAVE BUILT IN THE END…..THAT IS WHAT WILL AFFECT JAPANESE PEOPLE THE MOST.I HOPE PEOPLE GET OUT OF THIS SHOCK AS QUICKLY AS POSSIBLE AS THEIR SOUND MIND IS MORE IMPORTANT THAN THEIR BANK ACCOUNTS.

  • Oz Boy with Attitude

    Total Vindication, Really very astute comments from someone who country is the world leader in rape and child abuse I am talking per capita and probably gross total as well. I can see that you obviously follow a religion that teaches acceptance and forebarence and to not be the one to cast stones.

  • Freemen

    impeachRonPaul
    March 12th, 2011 at 3:00 am
    Maybe one goverment and one currency would be better. Less conflict and more stability.

    You are so right of course everyone understand a 1 world currency will stop all earthquakes world wide crops will grow better unicorns will fly and butterflies will sing.

    So sorry for the people of Japan.

  • Susan Kelly

    I like the guys from http://www.forecastfortomorrow.com spin on things. That the world is going through a massive transformation and this country and its fianncial mess is just part of the changes going to come. Bad things first then positive changes and some sort of a recovery.

    I have been buying gold since 700 an ounce and people have been laughing at me. But look where it is now. When inflation and rates start rising, then there is only one way for gold an silver to go…yes you know *winks*

  • roadrunner

    On another website they say that the Japanese authorities are having difficulty in providing relief supplies to a prostrate population. So tell me…where are all the Bill gates of the world? They have the power to supply all the emergency food, medicine, diapers, blankets, ect, namely everything needed to alleviate the suffering…but are invisable. They dont even have to worry about transportation problems. They can afford to send a FLEET of jets loaded with supplies…with NO beaurocratic interference.

  • http://leibowitzsociety.blogspot.com Leibowitz Society

    People forget that we are at the mercy of nature much more than we would like to admit. For all our technology and feats and accomplishments and whatnot, we can still be brought low by a simple trembling of the earth or rotation of tropical winds. Human civilization has been brought low many times before by these sorts of things and will be brought low again.

    Visit http://leibowitzsociety.blogspot.com to learn about how to prepare yourself for the future and how to save knowledge to help rebuild when the storm has passed.

  • Patriot Alice

    If there is anything I’ve learned over the past few years, is that if you can print your own money, able to borrow and have friends in high places,(Friendly Governments), it would take a comet to put you out of business. I am awed by the resilience of the Japanese people, ability to come back when others thought they were doomed. I feel nothing but love, compassion and respect for them, they truly are a great Nation, and I know they’ll come back better than ever!

  • Banger of MERB

    I hope one of these reactors fully melts down and take half of Japan with it. The destruction of Japan will be the start of peace and stability within the Asian region.

  • mondobeyondo

    Will the Japanese economy survive this disaster? Yes, it will. Japan has been through worse (Hiroshima and Nagasaki), and rose from the ashes to create the 2nd most powerful economy in the world. Or maybe it’s the 3rd most powerful – I believe China is now 2nd.

    The bigger question is, how would the USA respond?

    Notice: No riots, looting, stabbings, rapes, murders or violent crimes in Japan reported by the media in the aftermath of this disaster. Certainly the Japanese people had the opportunity to do so. These people have just gone through an earthquake, a tsunami, and now a nuclear crisis. But people remain civilized, relatively speaking under the circumstances. They stood patiently in line, waiting for gas, food, water and other essential supplies.

    Imagine if the same thing had happened in New Orleans. Oh wait, let’s NOT imagine that.

    Is it a cultural difference? Ethnic difference? Why such a difference in behavior between this mega-disaster there, and a hurricane on the Gulf coast 5 years ago?

    Lord help our country.

  • Kevin

    mondobeyondo

    I think the Japanese are unique in their disciplined law abiding nature.They are atypical. I doubt if any nation other then an Asian culture would duplicate such behavior if any; big if. I always felt that the Emperor of Japan never received the credit he was due when he ordered the Japanese people to call it quits and surrender in WWII. If he would have said “fight to the death” we probably would still have some guerrilla activity today. The Japanese people are that disciplined.

  • mondobeyondo

    So where are Carlos Slim Herrera, Warren Buffett, Oprah Winfrey, et. al? If these people care so much about humanity, where are they hiding?

    Perhaps it has something to do with government corruption – not so much as in the U.S., but in the country stricken by a tragedy. Remember Haiti? Millions and millions of dollars donated, and Haiti is still in the same situation it was in January 2010. Sooo… where did the money go?

    Please help out as much as you can, and donate whatever you are able to – the people afflicted truly need it – but only to reputable, trusted organizations like the Red Cross and Salvation Army. I’m really skeptical about those organizations which say “text HELP on your cellphone and dial Japan Aid”, or something like that. I want proof that my money is going to help needy people and not politicians.

  • http://www.gujarativivah.com Gujarati Matrimony

    BBC flash news: Japan government confirms radiation leak at fukushima nuclear plants. Asian countries should take necessary precautions. If rain comes, remain indoors first 24hours, close doors n windows, swab neck skin with beta-dine where thyroid area is, radiation hits thyroid first. Take extra precautions, radiation may hit Philippines starting 4pm (Pinas time) today! PLEASE PASS on to everyone

  • James

    .
    .
    @LoboSolo
    March 13th, 2011 at 10:28 pm

    “I don’t think you have to worry about radiation. The situation with the power plants has been overhyped.”

    Overhyped by who? As of a day or so ago I did not hear one single news agency mention even the basics of radiation exposure.

    You still think that today when meltdowns are being admitted?

  • Warren Chadwick

    To Banger of MERB. What a complete arse hole.Try one of your family members being caught up in such a disaster. You should be ashamed. Complete ignorance.

  • comnenus

    >mondobeyondo
    March 15th, 2011 at 4:02 am

    >So where are Carlos Slim Herrera, Warren Buffett, Oprah Winfrey, et. al? If these people care so much about humanity, where are they hiding?

    Japan has no shortage of their own tycoons, but they all joined Slim, Buffet and Oprah in hiding.

  • http://forthevictimsofjapan.blogspot.com/ tsunami

    Its a big hit they got in the heart. But these people are different in a good way and they will get there again. In the meantime we can help them.

    http://forthevictimsofjapan.blogspot.com/

  • Lanmeister

    To Banger of Merb – all the evil that you wish on others will come back on you, mark my words. Those who are so quick to write of Japan are ignorant of its history and are writing to further their own agenda. I am not Japanese, and I grew up in a country that was occupied by Japan during WW2, but I respect them, their culture, their work ethic, their understanding of the need to balance national priorities and personal freedoms. I am confident that they will rise to the occasion.

  • http://facebook.com wilma

    .,im so sad when i heard about the tsunami in japan i hope all of people there was be strong and play for them. condolence to those people who died in this accident. :( take care

  • http://facebook.com wilma

    i mean pray .. :(

  • Obaid

    I feel very sorry to people of Japan and all those who suffered this tragic incident.

  • http://theintrinsicvalue.com Intrinsic Value

    The recent disaster’s financial impact would be on a far larger scale. The USD/JPY currently is almost at record high against the USD. It would continue to appreciate while funds are repatriated in the near term. However inevitable increase in government spending, with already high debt levels would ensure that it is confined to raise the necessary funds domestically.

  • Raymond Ulrich

    My father wanted to make a comment about the tsunami that hit Japan. He said that people are making the remark that it is so terrible that the Japanese people had no warning that the tsunami was about to hit, it was exactly how the Americans felt when the Japanese attacked Pearl Harbor, without a warning. He lost his brother like so many other Americans lost their family members. He wanted me to make the comment “What goes around, comes around.” It is a terrible thing when people lose their lives because of the weather conditions. No person created the devastation that the Japanese people are experiencing. The Americans were even more devastated when the Japanese attacked Pearl Harbor, that was not an act of God.

  • jeff

    Well . My first years in japan while working for a gov office, i noticed deliperate waste of money. When i pointed that was a waste to do, the answer i got, if we donot spend all money we cannot get more next year budget
    I live in central tokyo, my street was paved sphelet 3 times almost every year, when asked, the answer was the same. If you live i n japan you will notice that .
    I think sad enough that awas a waste but its time to consider the old saying penny saved penny gained

  • Uncle B

    News bulletin for Yankee Doodle! Next reactors built in Japan, and elsewhere in the world, will come from Tsinghua University, China’s super-minds! They will be far safer than American designs, consume Thorium, be beyond American engineering’s understandings, become the base energy sources for the Asian empire, will consume and render harmless, dangerous, American bomb, waste reactor materials, for a safer world for the community of man.
    The failing American economy does so in lock-step with the rise of the Chinese Yuan, for now. As the phenomenal Asian bloom, backed by the world’s smartest scientists, engineers, physicists, the cream of the 3 billion folks in China, expands, it will easily overtake American Corporate,Capitalist, patent bound, trademark oriented, 19th century British evolved nonsense, and in good communist style free up all things for the greater community of mankind.
    America’s ship is certainly Captained by the Corporatists, Capitalists, and it is surely sinking! Have they made mistakes? Were they not infallible? according to the propagandists, Hollywood impressions?
    Japan’s ills are a stress on the American Capitalist, Corporatist. He has not come running to their rescue, He has not taken responsibility for his faulty reactors, He does not acknowledge his guilt, his fall-abilities.
    Can all of Asia be bought over by safer, cleaner, cheaper, Thorium fueled, high efficiency, non-bomb producing, reactors from China? Did America do well in respecting patents, royalties, corporate secrets,private investors fortunes, over and above true progress in the nuclear field?
    We witness the fall of the last, the greatest, Caucasian empire the world will ever know – a democracy poisoned by corporatists, capitalists, the cancers of the world. We witness the rise of the Asian empire, a frightening enigma.

  • http://hotmail.com BABYLAMA

    THE ONLY THING I CAN SAY TO JAPAN IS THAT THEY HAVE TO HAVE ALOT OF FAITH IN GOD AND BELIVE THAT HE GAVE HIS SON TO THE WORLD SO IT WOULD FORGIVE ALL OUR SINS… SO JUST ASK GOD FOR FORGIVENESS AND HAVE FAITH IN HIM.. HIS SCRIPTURE SAYS THAT IF YOU CALL TO HIM HE WILL ANSWER YOU AND YOU WILL ONLY BE SAVED IF YOU BELIVE IN HIM… GOD BLESSES YOU ALL.

  • http://n/a. Gary Chin

    It is in times like these that you really know who your family and friends are.
    I see that much of the humanitarian help and aide came from China, Taiwan and S. Korea. Japan’s traditional rivals, I didn’t see the US, Britain and France doing very much.
    All the British (where I am based) media reported was how it would affect it’s own economy….

    How times and circumstances can change!

  • http://www.freerealms.com melissa

    one question i have to answer is: why would americans care is japan gets hit by a tsunami? i’ve ben looking for a good answer but i only found one.i dont know if there’s more than one answer though i would like to find out why.

  • Kerry

    They need to recover fast

    • Samuel

      I agree

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