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Japanese Government Backtracks Again: Edano Says No Plan To Nationalize TEPCO

Tyler Durden's picture




 

If there is one thing the Japanese authorities are consistent in, it is their complete lack of consistency. First the government leaks information that it will nationalize TEPCO, sending the market panicking and the stock (9501.JP) triggering circuit breakers after it goes bidless, and a few hours later after seeing the devastation this is doing on the market (Nikkei down 1.5%), it backtracks and says it was only kidding. From Reuters: "Japan's government is not considering nationalising Tokyo Electric Power Co , the operator of the stricken nuclear plant, Chief Cabinet Secretary Yukio Edano said on Tuesday." See, they were only kidding. Or, a very clever Japan has decided to not "nationalize" TEPCO in the same AIG was not nationalized, with a whopping 2% of the outstanding stock remaining in private hands following an infinity to one dilution.

The rest of the story is known by all at this point:

The Yomiuri newspaper, citing unidentified government sources, reported that the government would temporarily nationalise TEPCO, taking a majority stake, and would help manage it and help it pay compensation for damage caused by its Fukushima nuclear power plant after it was knocked out by a massive earthquake and tsunami on March 11.

That said, would one expect anything less from an administration that does not know the difference btween 10 million and 100K...

 

 

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Mon, 03/28/2011 - 21:32 | 1111110 LostWages
LostWages's picture

So sorry for confusion.  JK, LOL ;-)

Only glowing reports for TEPCO.

Mon, 03/28/2011 - 22:06 | 1111248 carbonmutant
carbonmutant's picture

Spin Test....

Mon, 03/28/2011 - 21:31 | 1111113 SwingForce
SwingForce's picture

Gawdamm assholez.....

Mon, 03/28/2011 - 21:44 | 1111115 Atomizer
Atomizer's picture

If I had a dollar hedged for everytime I heard this.

The Power of Nightmares - 3 of 3 - The Rise of the Politics of Fear - The Shadows in the Cave

http://www.youtube.com/watch?v=qATc5jRbVOA

Mon, 03/28/2011 - 21:48 | 1111195 Lord Welligton
Lord Welligton's picture

It works every time.

Fear. Of what?

Your own ignorance.

We are all ignorant and "they" who also are ignorant know it.

So "they" use it.

The thing being that "they" know that "they" are ignorant and know the "we" think "we" are not.

So they offer "us" ignorant choices.

And "we" make decisions based on ignorance.

 

Mon, 03/28/2011 - 23:01 | 1111421 Atomizer
Atomizer's picture

Lord Wellington,

Your comment made my head spin. It looks like Google nicked this sometime this weekend. Have another read

http://webcache.googleusercontent.com/search?q=cache:pGw5abVSwv0J:www.ctc.usma.edu/sentinel/+combatting+terrorism+at+west+point&cd=3&hl=en&ct=clnk&gl=us&source=www.google.com

This weekend post

http://docs.google.com/viewer?a=v&q=cache:NSHgHmk3Dy0J:www.ctc.usma.edu/harmony/pdf/CTCForeignFighter.19.Dec07.pdf+combatting+terrorism+at+west+point&hl=en&gl=us&pid=bl&srcid=ADGEEShfLZ7kK48_Xx_L58YLILGVdZefkxDoVFbhHVjkwbAzKDO8RlxVleZXZpKAJeT9iZv8mNLmUYGNDs1wRQDfvWP3-JyPJZSqka18yFueEq5ZFYah1nGsEPWnMqFYMgQ8uLu6U1Sk&sig=AHIEtbR9ISS-Be4R9exG2Iilti1b4vZXog

I can't tell you how long Obama will remain POTUS. I can tell you, he is breaking laws.

Obama, if your reading this. Your being set up as a low class Muslim/Negro stealing from the US peasants. Your very own PC agenda will backfire on you. It's all by design. One day in the near future, you're going to be made a mockery by your own boss... Georgy. In the meantime, take another vacation cuz your days are tits up.

Congress is not going to be kind to you. Your lie on TV tonight didn't fool anyone. You've broke too many US laws to avoid legal consequences. Do you think you have the courage to tell the public the truth or are you going to be silent during removal from office?

This is no longer about front/back seat drivers. You have a fork in the road; Mr. Obama, what is your path?

Mon, 03/28/2011 - 23:15 | 1111469 Lord Welligton
Lord Welligton's picture

"Your comment made my head spin."

Quite.

I had to spin my head to make it.

Mon, 03/28/2011 - 21:32 | 1111120 f16hoser
f16hoser's picture

Apparently Buffet had something to say. "Turn those machines back on"

Mon, 03/28/2011 - 21:33 | 1111135 JohnnieWalker
JohnnieWalker's picture

This is the only bit of good news TEPCO has heard lately. The situation is going from bad to worse:

http://www.bbc.co.uk/news/world-asia-pacific-12881015

 

Mon, 03/28/2011 - 21:39 | 1111154 espirit
espirit's picture

After reading the article, I wonder what levels of plutonium are considered hazardous to human health?

Duh-oh!

Mon, 03/28/2011 - 21:49 | 1111200 Matte_Black
Matte_Black's picture

"...bad to worse."

I guess it's just semantics, but it seems to me like it's going from catastrophic to apocalyptic.

If the Japan gov can move this quickly in order to calm market turbulence, why can't it seem to do so with the the Daiichi plant?

Depressing.

Mon, 03/28/2011 - 21:58 | 1111221 Careless Whisper
Careless Whisper's picture

gov sez that plutonium can't hurt you, but marijuana can.

Mon, 03/28/2011 - 22:12 | 1111262 UninterestedObserver
UninterestedObserver's picture

No that was TRAV 

Mon, 03/28/2011 - 22:15 | 1111272 Matte_Black
Matte_Black's picture

There's a punchline in there somewhere. I just cant decide if it's about 'gateway' drugs to apocalypse, or transfats, or childhood obesity.

Otoh, maybe I'm wrong and the punchline was the word 'government'.

Mon, 03/28/2011 - 22:18 | 1111280 Oligarchs Gone Wild
Oligarchs Gone Wild's picture

It looks like the Japanese have also restored the major transit infrastructure - claiming 90% up and running now?  I believe I also heard today that Sendai was also handling traffic today, but this article says it's not...

TOKYO (Nikkei)--Almost 90% of major land, sea and air transportation networks disrupted by the March 11 earthquake have been restored, according to Transport Ministry data.

Save for Sendai's tsunami-swamped airport, all 12 airports in the region are back in operation, including for public use. The Hanamaki, Yamagata, Fukushima and other airports are open around the clock to handle Self-Defense Forces and U.S. military transport planes.

http://e.nikkei.com/e/fr/tnks/Nni20110328D28JFF01.htm

 

Mon, 03/28/2011 - 22:23 | 1111297 Oligarchs Gone Wild
Oligarchs Gone Wild's picture

This article claims that Sendai airport is actually open and moving goods.  Perhaps it's only open for relief efforts and not public use.

http://www.pacaf.af.mil/news/story.asp?id=123248914

 

 

Mon, 03/28/2011 - 21:33 | 1111136 espirit
espirit's picture

I smell a meltdown.

Mon, 03/28/2011 - 22:03 | 1111233 ZackAttack
ZackAttack's picture

And all these reactors were supposed to be either idle or in cold shutdown.

Mon, 03/28/2011 - 21:34 | 1111137 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

27 Signs That The Nuclear Crisis In Japan Is Much Worse Than Either The Mainstream Media Or The Japanese Government Have Been Telling Us

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/03/27-signs-that-nuclear-crisis-in-japan.html

Mon, 03/28/2011 - 21:34 | 1111140 buzzsaw99
buzzsaw99's picture

TOKYO (Nikkei)--Nikkei Inc. will reconfigure the stocks used to calculate the Nikkei 500 index on March 29 and April 1. A total of 13 issues will be removed, and the same number will be added.

The components of the index are reshuffled every year based on turnover, trading value and market capitalization. In addition, some shares are set to be delisted due to the establishment of a holding company and other reasons.

Stocks to be removed on March 29:

Sanyo Electric Co. (6764)

Panasonic Electric Works Co. (6991)

Sumitomo Trust & Banking Co. (8403)

Stocks to be removed on April 1

Culture Convenience Club Co. (4756)

Godo Steel Ltd. (5410)

Nippon Metal Industry Co. (5479)

Tadano Ltd. (6395)

Star Micronics Co. (7718)

Cedyna Financial Corp. (8258)

Daiei Inc. (8263)

Kiyo Holdings Inc. (8415)

Okasan Securities Group Inc. (8609)

Fuji Fire & Marine Insurance Co. (8763)

Stocks to be added on March 29:

Fuji Oil Co. (2607)

Saizeriya Co. (7581)

Senshu Ikeda Holdings Inc. 8714

 

Stocks to be added on April 1:

Itoham Foods Inc. (2284)

Kyorin Co. (4569)

Nihon Kohden Corp. (6849)

Shin-Kobe Electric Machinery Co. (6934)

Nichicon Corp. (6996)

Toyota Auto Body Co. (7221)

Nipro Corp. (8086)

Ogaki Kyoritsu Bank (8361)

Sotetsu Holdings Inc. (9003)

Hitachi Transport System Ltd. (9086)

http://e.nikkei.com/e/fr/tnks/Nni20110323D23SS727.htm

TEPCO not on list (YET)

Mon, 03/28/2011 - 22:12 | 1111265 Nobody special
Nobody special's picture

Kinda suggests where they expect to see gains, don't you think?

Mon, 03/28/2011 - 22:42 | 1111359 Matte_Black
Matte_Black's picture

I agree, and also where they expect to see losses. The one-two punch for market prosperity, I guess.

It's an interesting list, in any case.

Mon, 03/28/2011 - 21:35 | 1111145 max2205
max2205's picture

Damn it!!!! BTFD. arrrrgggg

Mon, 03/28/2011 - 21:38 | 1111149 Jim in MN
Jim in MN's picture

Clearly, we need to split it into 'Good TEPCO' and 'Bad TEPCO'

 

"Buy Bad TEPCO Liberty Flibbertygibbety Bonds: 'Cuz when we say toxic assets, we mean TOXIC!"

Mon, 03/28/2011 - 21:41 | 1111165 buzzsaw99
buzzsaw99's picture

That is the best idea I have heard all day.

Mon, 03/28/2011 - 21:39 | 1111153 Id fight Gandhi
Id fight Gandhi's picture

wow, this should make the markets rally. sounds like they got all the problems solved.

 

 

Mon, 03/28/2011 - 21:39 | 1111155 etudiant
etudiant's picture

This sterling performance by the Japanese political leadership helps explain their success in dealing decisively with the Fukushima accident.  Poor Japan.

Mon, 03/28/2011 - 21:39 | 1111156 Teamtc321
Teamtc321's picture

wtf...And just to think, the people of Japan and half the earth's health are in these 3rd stringer's hand's.

It's time to call in the gun's. Get some help over there asap.

"Sarc on" 

Where is the sierra club or green piece's of shit? Put some trash can boot's wrapped with 100 mile an hour tape on there berkanstock's and drop em in the zone.

Grab a mop and a suction hose bitcheeez.

===========

This is starting to be unreal.....

 

 

 

Mon, 03/28/2011 - 21:38 | 1111157 Crummy
Crummy's picture

Before this disaster, I would have put Japan as one of the top five countries least likely to revolt.

Now I give it five years till it does.

 

Mon, 03/28/2011 - 21:46 | 1111189 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

They only thing they're going to revolt about is the high cost of cemetery condos.

5 years!? Do you know what is going on over there? The makeshift force fed cooling systems are clogging up with salt. I give it 2 days till you hear about fireworks, and then 12 hours till you start to feel the effects.

Mon, 03/28/2011 - 22:13 | 1111270 Nobody special
Nobody special's picture

Let's not forget that the Fukushima 50 have been without sleep for two friggin weeks!  How much longer do you really think they can keep a lid on this?

Mon, 03/28/2011 - 21:39 | 1111161 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

As SwingForce says; "I wish they'd stop monkeying around!".

It's all a game of desensitization.

Mon, 03/28/2011 - 21:46 | 1111185 Eireann go Brach
Eireann go Brach's picture

Either way it is bullish

Mon, 03/28/2011 - 22:10 | 1111261 Bubbles...bubbl...
Bubbles...bubbles everywhere's picture

"You dropped nuclear bombs on us, how do you like our radiation now round eye?

Tue, 03/29/2011 - 05:26 | 1111922 arnogn143
arnogn143's picture

+2

Mon, 03/28/2011 - 21:52 | 1111203 djsmps
djsmps's picture

Don't worry about a tsunami, we will study....Warning Warning Tsunami Coming!

Radiation-san is 10 million times normal....We don't know about that, we will study

We are nationalizing TEPCO....you press-san very funny people, not true, we will study

Mon, 03/28/2011 - 21:52 | 1111204 Oligarchs Gone Wild
Oligarchs Gone Wild's picture

Smoke rising today from NH USA Nuclear plant

Meanwhile,  back in "facts-are-too-much-for-you-to-comprehend-WEST" we see that an "unusual event" has occurred at a NH nuclear power plant a few hours ago.  Apparently this is only the 2nd or 3rd of these "unusual events" in 30 years, so we need not fret about said details.

Van Dongen said only two or three such "unusual events" have been reported since the plant began operating in 1990.

http://www.reuters.com/article/2011/03/28/us-newhampshire-nuclear-idUSTR...

Mon, 03/28/2011 - 21:54 | 1111209 Matte_Black
Matte_Black's picture

From the article:

"Smoke was detected in a transformer attached to a service elevator in a support building at Seabrook Station in Seabrook, said Jim Van Dongen, spokesman for the state's department of safety.

Mon, 03/28/2011 - 22:03 | 1111234 Oligarchs Gone Wild
Oligarchs Gone Wild's picture

Agreed.  I read the article too fast.  Transformers do blow, they are in service elevators and that can certainly cause smoke such as reported.   Because my redacting abilities are now disabled, I want to be on record as concurring, thanks for the correction.

Mon, 03/28/2011 - 22:06 | 1111243 Matte_Black
Matte_Black's picture

No worries, brother. I wasn't criticizing you.

From what we've seen in the past two weeks, the place could be well on its way to a level 4 accident, and this is just the later-to-be-corrected bullshit part of the spin cycle.

It has become clear that the plant operators aren't always being honest. Right?

Mon, 03/28/2011 - 22:09 | 1111256 whoopsing
whoopsing's picture

Ahh,I would'nt worry too much about that one Matte,that shit can fry anytime.it does'nt sound that bad

Mon, 03/28/2011 - 22:21 | 1111287 Matte_Black
Matte_Black's picture

Yeah, thnaks. I know.

I just wanted to archive what they were saying in case we hear another story later. Probably just feeling paranoid about the issue of corporate/gov. disclosure lately... a little.

: )

Mon, 03/28/2011 - 21:57 | 1111214 Jim in MN
Jim in MN's picture

That's a nice plant.  $6.5 billion to build, and $1.2 more for the unfinished pile of concrete and rebar next to it (unit 2).  A happy tale all around.

When I first toured it they had a little yellow rope around the turbine block as they had accidently allowed the cooling water to mix with the steam cycle and irradiated the entire thing.  The little rope was where you couldn't go, a month or so later.

No biggie in the biz...but be sure to wear your ear protection!  WHAT????

Mon, 03/28/2011 - 22:03 | 1111235 Matte_Black
Matte_Black's picture

Some of these anecdotes you hear are very disturbing. I seriously wonder how often things go wrong with nuclear fission in the US, and we never hear about it.

Tue, 03/29/2011 - 02:43 | 1111807 Ahmeexnal
Ahmeexnal's picture

Relax, it was just a couple of dudes charbroiling their tacos on the plant's premises.

 

Mon, 03/28/2011 - 21:59 | 1111212 bob_dabolina
bob_dabolina's picture

You want to see trav7777 at his finest?

Starting here at this comment:

http://www.zerohedge.com/comment/reply/344127/1110976

He says "Do you want the facts or dont you?"

I respond "I want the facts"

He says " I won't speculate without the facts"

What the fuck is that?

From this thread:

http://www.zerohedge.com/article/updated-local-fallout-forecast

This is the bullshit I'm sick of.

Little fuckin' bitch pretending to be an expert.

Mon, 03/28/2011 - 22:01 | 1111228 i-dog
i-dog's picture

I'm sick of you bitching about Trav! Do you spend your whole life telling tales? Do we look like your mom?

Mon, 03/28/2011 - 22:08 | 1111242 bob_dabolina
bob_dabolina's picture

Did I ask you a question?.... bitch

If not STFU

Mon, 03/28/2011 - 22:18 | 1111283 Nobody special
Nobody special's picture

If you're gonna complain, you'll get flack for it.  Accept that some would prefer you shut the gap in your face.  I'm with 'the bitch.'

Seriously dude, you need a time out.

Mon, 03/28/2011 - 22:37 | 1111347 Fearless Rick
Fearless Rick's picture

FU and Trav. Take your little dispute elsewhere. May I suggest shoving up each other's asses?

Mon, 03/28/2011 - 22:19 | 1111276 trav7777
trav7777's picture

bob I gave you the facts about the plutonium dosages...wtf are you babbling about?

You're alienating everybody around with this obsession about me, man.  It's gone long past the point where it's funny anymore, and you need to think about seeking out professional help.

Mon, 03/28/2011 - 22:51 | 1111328 bob_dabolina
bob_dabolina's picture

When did I ask you for plutonium dosages?

Why are you making shit up?

....seek your own medical help.

Mon, 03/28/2011 - 23:52 | 1111564 tmosley
tmosley's picture

The only one being alienated here is you.  If you would take a break and calm down, you would realize that.

This is why you can't advance in life.  It's not just about facts, it's about how you communicate them.  If you do so in a respectful manner, people will like you, and rapidly come to respect you.  You blow away any respect you may or may not have earned by pissing all over anyone and everyone that you disagree with in the slightest.

Communication isn't that hard.  But your attitude makes it impossible.

Tue, 03/29/2011 - 02:17 | 1111785 trav7777
trav7777's picture

Cliff and bob, right on cue.  LOL.

You are such a tool, cliff.  I guess we can put internet psychic on the list of things you totally suck at.

Mon, 03/28/2011 - 22:05 | 1111239 Die Weiße Rose
Die Weiße Rose's picture

Tepco is in deep Shit !

They have been down-playing and denying this whole Disaster and it is the most irresponsible behaviour and criminal deceit to down-play this Disaster,

while the international community looks on in disbelieve and stupefied desperation...

here is a very interesting article on the subject

from "Der Spiegel" on Mon 28 march 2011:

http://www.spiegel.de/international/world/0,1518,753530,00.html

How Dangerous Is Japan's Creeping Nuclear Disaster?

The destroyed reactors at Fukushima have been releasing radiation for weeks. According to model calculations, the stricken nuclear plant could already have released one-tenth of the amount of radiation unleashed in the Chernobyl disaster. How serious a risk does the disaster pose to humans?

excerpts:

To make matters worse, the wind changed on Friday. Radioactive particles over the Pacific were now drifting westward across Japan. High levels of radiation were detected in vegetables, water and soil near the Fukushima plant.

"It is high time Japanese authorities extend the 20- kilometer (12.4-mile) evacuation zone around the crippled nuclear-power plant at Fukushima ... Pregnant women and small children should immediately be evacuated from a progressively increasing area," writes nuclear critic Mycle Schneider, lead author of the World Nuclear Industry Status Reports. Embryos, fetuses and infants are at the highest risk, because radiation targets cells that divide quickly.

The head of the United States Nuclear Regulatory Agency (NRC) recommends expanding the evacuation zone to 80 kilometers, in which case 2 million people would have to be relocated -- in addition to the hundreds of thousands of earthquake and tsunami victims. Japanese authorities are now asking people to leave the area voluntarily.

The beleaguered Japanese are also being peppered with concerned advice, demands and speculation from the United States, Russia, Finland and Germany. Even France's nuclear safety agency IRSN, not exactly known for its cautionary approach to nuclear risks, published a disturbing model calculation last week. According to the report, by last Tuesday the Fukushima plant had already released into the environment one-tenth of the amount of radioactive material that was released at Chernobyl in 1986.

how will this play out ?


http://www.spiegel.de/international/world/0,1518,753530,00.html

Mon, 03/28/2011 - 22:13 | 1111268 Itsalie
Itsalie's picture

In any other country, the government would have stepped in to assume responsibility for the mess in and around the Fukushima plant - in Japan 3 weeks after the nuclear accidents, Tepco are still left to decide what to tell the government and fire fighters still need to wait for hours outside the plant before being admitted to the plant when they change shift. The Japanese showed the world their stoicism, problem is they would also tolerate decades of incompetence of their politicians and the self-serving civil servants whose key objective is to hold on to power and to place their own retirees as chiefs of corporations like Tepco. So while externally there is semblance of efficieny and order, we have seen behind the veneer that their system is just as corrupt and broken as the industrial-banking oligopoly of the west.

Mon, 03/28/2011 - 22:45 | 1111373 Cdad
Cdad's picture

In any other country, the government would have stepped in to assume responsibility for the mess in and around the Fukushima plant - in Japan 3 weeks after the nuclear accidents

Okay...now clearly martini fatigued...I cannot help but asking you, Itsalie...what ass backward, fucked up,socialist, Euro nation are you from?  Here...in America...PRIOR to our most recent bank betrayal and government retard contest, your quote would offend so fucking deeply...that I dare say that whoever the fuck you are...you should/would have thought twice about posting such socialistic/communistic dribble.  

So to an exponential factor of 3, in comp to my comments to Trav, FUCK OFF COMMUNIST ASSWIPE!  You think such things because you have been clinging to some government teet your whole miserable existence.  Don't project your bile across the entire world...with a lazy fucking post like this...without looking in the mirror and seeing just what a weak and sick fuck you have been your whole life FIRST!


Tue, 03/29/2011 - 02:21 | 1111792 trav7777
trav7777's picture

wow..what a total screed, lol.  You should go easy on the booze man.

just say BP or GOM next time...our gov't played with kid gloves too.  All of them do.

You think The One wanted to get his hands oily with the GOM?  Hell no; it was politically more expedient to let people potentially die, let shit get all fucked up and just wag his finger at BP while he gazed into the future in between golf outings.

In Japan, the politicians don't want ownership of this.  Nobody takes risks. 

Mon, 03/28/2011 - 22:17 | 1111271 Convolved Man
Convolved Man's picture

And some good news ...

Japan’s Unemployment Rate Unexpectedly Falls to 4.6%

 

Probably would have been more relevant if released March 10th instead of now.

Mon, 03/28/2011 - 22:32 | 1111310 Nobody special
Nobody special's picture

It looks like nothing more than the U3 measure we see applied in the US.  Those not able to work (refugees) are not counted in the workforce.  Nor are those searching for lost family, or those who have not applied for new jobs since the tsumami destroyed their homes and workplaces, because they're not actively seeking paid employment.  While we're at it, those that did work in the last 30 days are too newly unemployed to count.  Well lookie here... of those few that are left, most are workin.  Who said there was an unemployment problem?

Damn, this spin stuff is easy.  I should apply for a government job.  Don't forget the required reading:  http://www.amazon.com/How-Lie-Statistics-Darrell-Huff/dp/0393310728/

Mon, 03/28/2011 - 22:20 | 1111284 trav7777
trav7777's picture

Government probably doesn't want their reelection chances fucked by this disaster...it's a dangerous game of chicken when politics get involved.

Mon, 03/28/2011 - 22:34 | 1111338 Cdad
Cdad's picture

And since I posted my thoughts below only to see you here just now upon the update, Trav...fuck off ass wipe!  Do us all a favor and go fishing tomorrow, would you?

Indeed, the governement blah blah blah...but for some odd fucking reason, earlier today, you could not see or smell the shit stains on your own shirt. Curious.  Perhaps your senses will be better in future days?

 

Mon, 03/28/2011 - 22:36 | 1111346 Matte_Black
Matte_Black's picture

Good point. I had forgotten that Kan was headed for a no confidence vote when this thing happened.

One more thing adding to the general failure that seems to be taking place.

Mon, 03/28/2011 - 22:30 | 1111320 Cdad
Cdad's picture

 

OK...that's it for me for the night.  Shaking martini number 3 and going lights out after that.

If the syndicate, American or Japanese, think they can "press release" or "trial balloon" all of this away, well then folks in Tokyo best be paying very close attention...to anyone EXCEPT TEPCO or the Japanese government.

Unbelievable.  'nough said and 'nough read for me tonight.  Tomorrow will be another cataclysmic day, to be sure.

Thanks Tyler.  As many before me have posted, and despite your own claims [implied]  from time to time that you are not in the business of trading calls/news, yours is the only site I really need to assess this shit situation fully upon us now.

Good grief [and by that I mean "Bartender...one more for the road"]

 

Mon, 03/28/2011 - 22:48 | 1111377 Fearless Rick
Fearless Rick's picture

This is getting bad. Drank myself sober yesterday. Now I'm just sober and unhappy. I think about what life will be like when I know I have like three weeks to live. Then I think that the shared agony and figure it's not going to be pretty.

 

I would think this all would stop when somebody puts a bullet into either a banker, politician or CEO, but that doesn't seem plausible either.

I've been saying for 2 weeks that they need to get this thing under control because it just keeps spewing radioactive particles day and night, into the air, sea, groundwater, etc. and the cumulative effects are not good. Sure, it's not harmful today, but what about next week, next month, next year. 

Entombment, bitchez. And throw our congress in there along with your parliament or whatever you have for government.

Scorecard:

Tsunami: winning

TEPCO: FAIL

Fukushima daiichi: EPIC FAIL

News media: MASSIVE FAIL

Japan govt.: MASSIVE FAIL

US govt.: MASSIVE FAIL

Globalization: MASSIVE, EPIC FAIL OFF THE CHARTS

Mon, 03/28/2011 - 23:01 | 1111425 Matte_Black
Matte_Black's picture

Sublime.

TURNING and turning in the widening gyre
The falcon cannot hear the falconer;
Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.

Tue, 03/29/2011 - 00:00 | 1111587 davepowers
davepowers's picture

are you telling us that the FED raised all that money with the reverse repo for nothing?

Tue, 03/29/2011 - 01:02 | 1111696 chump666
chump666's picture

of course they won't... means that Japan's govt would repatriate...killing off projects/ investments in a slew of Asian countries - to buy that smoldering reactor melting down in real time.

They are most probably 2nd to China of a shitdump of a government

Tue, 03/29/2011 - 01:03 | 1111698 chump666
chump666's picture

on wires now:

*Japan Upper House rejects the FY2011 budget bill - Kyodo.

...screwed

Tue, 03/29/2011 - 02:07 | 1111774 slvrizgold
slvrizgold's picture

Oh wow this story is too rich!   The Japanese govt doesn't want to nationalize a destroyed business.  Well, guess what they will be paying for it for years and years to come like it or not.    At least the Japanese are smart enough to not take equity in a money losing company, can't say as much for the full retard govt in USA.

Tue, 03/29/2011 - 06:47 | 1111968 tek77blu
tek77blu's picture

Great Interview of Jim Willie on this Japanese Crisis and the impacts it will have on gold and especially silver: http://www.contraryinvestorscafe.com/jim-willie-radio/

Tue, 03/29/2011 - 08:46 | 1112170 oogs66
oogs66's picture

How does this company have any value left?  What is it going to cost to clean up this mess?  Isn't government takeover or not meaningless?  These guys have one huge mess to clean up and shareholders will be wiped out as a result?

 

Or is Japan going to pay for the clean up but not nationalize?  Damn I need to be TBTF!

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