A drunk, a crook, and a politician walk into a bar…
…and then he asked the bartender for a drink.
Could it be that we are finally in the last days of PM Aso’s (pronounced A$$hole) government? Another great article by Bill Pesek.
He certainly doesn’t sugar coal things.
Things will get far worse. You know an export-driven
economy is in trouble when exports plunged an unprecedented 13.9
percent last quarter. The collapse in demand for Corolla cars and
Bravia televisions comes as the G-7 says the global slump will
last for much of 2009. It’s probably more like 2010, too. Big losses are forecast at Toyota Motor Corp., Sony Corp.
and Hitachi Ltd., all of which are firing thousands of workers.
That will accelerate the drop in household spending and deepen
the recession. The current quarter could be even uglier.
Of course the event that may finally have tipped things over has become an internet sensation of it’s own. Finance Minister Nakagawa’s drunken press conference is a warm happy memory I will take to my grave.