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Japan's Economy Implodes Again: No Scapegoats This Time

Tyler Durden's picture




 

While the easily amused were obsessing with choosing the best one line punchlines to describe the status quo posturing on TV in the form of another highly irrelevant political spectacle, Japan's economy imploded, only this time for real. Unlike back in Q2 when every downtick in the economy was blamed on the Tsunami and on the Fukushima explosion, we just got, 6 months later, the report for Japanese machinery orders which collapsed 8.2% in the month of July, for the biggest drop in 10 months, over and above anything seen during the Fukushima days. This is exactly 100% worse than the 4.1% drop predicted. The reasons according to Reuters: "companies are delaying investment due to worries about a strong yen, slackening global growth and slow progress in reconstruction from the March earthquake." Of these the Yen is by far the most relevant. And thanks to the SNB, the Bank of Japan, whose currency has suddenly become the only safe risk haven, will have no choice but to add balance sheet insult to economic injury and resume JPY interventions, only this time the duration will be even shorter than the last such episode which lasted all of 3 days (see below). This in turn will force all other central banks to do more of the same until relative devaluation, and the biggest currency lower, is the name of the only game in a few weeks. As for the winner: the only real currency which can not be printed, well, that story is very well known by now.

More on the latest confirmation of Japanese economic devastation (which nobody could predict):

Core machinery orders fell 8.2 percent in July from the previous month due to declines in orders from manufacturers and service sector firms, Cabinet Office data showed on Thursday. That compared with a median market forecast for a 4.1 percent decline and follows a 7.7 percent rise in June. Compared with a year earlier, core orders increased 4.0 percent in June, much less than an 8.5 percent rise expected by economists. 

 

"Capital spending remains on a recovery trend, although the overseas slowdown and a possible delay in Japan's post-quake reconstruction are a concern," said Takeshi Minami, chief economist at Norinchukin Research Institute in Tokyo.

 

Japan's current account surplus fell 42.4 percent in July from a year earlier, Ministry of Finance data showed, more than a median forecast for a 31.3 percent decline. The surplus stood at 990.2 billion yen ($12.8 billion), against a median forecast for a 1.18 trillion yen surplus.

Here is why this is extremely favorable for, what else, gold, which has risen $25 since the GOP's orange spraytan colored circus began.

The disappointing data could place some pressure on the government and the Bank of Japan, which highlighted risks to growth after leaving monetary policy on hold on Wednesday, to ensure that the yen doesn't strengthen further. 

 

The yen has been attracting safe-haven demand from investors unsettled by Europe's sovereign debt crisis and signs of U.S. economic slowdown even as Japan struggles with its own debt burden and its new government faces a long battle to gain consensus over how to fund reconstruction from the March 11 earthquake and tsunami.

 

"Uncertainty on overseas economies started to increase in July, which may have prompted some corporations to rein in their capital spending on lower expectations for business growth," said Yuichi Kodama, chief economist at Meiji Yasuda Life Insurance in Tokyo. 

 

Japan is on guard against further yen appreciation after intervening in currency markets last month when its currency approached a record high versus the dollar

As for the recently popular theme documenting the collapsing half life of central bank interventions, this chart speaks volumes.


 

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Wed, 09/07/2011 - 22:21 | 1644567 oogs66
oogs66's picture

MS was right - globally co-ordinated easing coming up!

Wed, 09/07/2011 - 23:14 | 1644708 Ahmeexnal
Ahmeexnal's picture

Japan's mistake was to have a tight immigration policy.

They should have allowed "illegal" immigrants in so they could now blame them for all their misery.

Wed, 09/07/2011 - 23:32 | 1644767 nope-1004
nope-1004's picture

 

the only safe risk haven

LMFAO.  Nice one.

 

 

Thu, 09/08/2011 - 01:37 | 1645063 Oh regional Indian
Oh regional Indian's picture

All of Japan's post WWII decisions were made for them. Of course Nuclear Power courtsey GE (by way of the genial Queen of Eng, via here US colony) was the most egrigious of all.

Having done extensive business in and with Japan, I'll tell you this, it's obvious to anyone with eyes that see that social engineering in Japan is EPIC. As a people, driven insane in 60 years of American hegemony and totally insane due to the curse of their seemingly free energy.

Japan made no mis-takes of it's own. It has been the longest runnign stage-managed nation-hood in recent memory.

V

The Curse of Free Energy

Thu, 09/08/2011 - 04:33 | 1645286 Michael
Michael's picture

about the topic;

What a marvelous piece of writing this piece is.

To another poster;

"GOP's orange spraytan colored circus"

That says it all. You should copywrite that phrase.

Thu, 09/08/2011 - 07:10 | 1645393 Hephasteus
Hephasteus's picture

Japan brings social conforming forces that are so extreme they "wipe" out uraniun forces. Uranus energy brings them to do the most crazy and most extreme weird shit you can imagine because the saturn forces are so extremely powerful.

Japan was supposed to be a model for the other asian countries. They got manufacturing developed and it was supposed to create a 1st world state that would make the other asian countries die to jump into bed. Which is what happened as the west moved from japan to south korea to taiwan to china.

And talk of "rebuilding" post world war II with taxpayer money is another way of saying taxpayer money buying "winners" in manufacturing.

Japan you have 14 year old girls that burn buildings to the ground and china you have 15 year old girls that wear miniskirts made of rubbers full of semen. This is because of the openly and I MEAN OPENLY hostile hentai and child anime porn towards them.

Japan teaches the children to be persistent to insane degrees with mind games like making them ask 100 times for a bicycle before finally giving in. This leads to a bunch of social degenerates that believe no means no until you pester someone to fucking death and break their will. But it makes for armies of people who can openly and viciously attack anyone on  the streets who buys an iphone instead of a nokia. And it makes for people who can mount stalker campains that last a decade or more. This is use of saturn. The part of saturn where you are supposed to expend all your energy and effort to conquer something. Then you simply pick people out of the society that work for the system and you strap the others into computer gaming chairs where they exert their energy on repetitve treadmill game tasks that only require electricity to drain their will and energy forces. It's a profoundly sick society.

They might be ran by the west and western hedgemony but they are employing their own methods to do it. Which brngs us to india which has a similar "thing" with saturn and uranus. And if india isn't careful it will be put on the same crazy train of psychotic expression of control. Fortunately it seems india is resisting it pretty well.

Thu, 09/08/2011 - 08:45 | 1645534 Oh regional Indian
Oh regional Indian's picture

nice Heph. Can't say I share your optimism regarding India though. It's firmly in the grip!

V

Thu, 09/08/2011 - 08:02 | 1645441 Léonard
Léonard's picture

@Ahmeexnal

Japan's mistake was to have a tight immigration policy.

They should have allowed "illegal" immigrants in so they could now blame them for all their misery.

Thanks God the Japanese resisted and continu to resist to the Anglo-Americans multi-ethnic and multicultural global village madness project through massive immigration movements that always result in the genodice of the native populations and the destruction of millenium old cultures and hyper violence (like in Europe right now).

 

Thu, 09/08/2011 - 05:07 | 1645311 StychoKiller
StychoKiller's picture

When playing musical chairs, one should NOT have casts on one's legs, like Japan does now! :>(

Thu, 09/08/2011 - 07:34 | 1645409 curbyourrisk
curbyourrisk's picture

Is that what they are calling it these days?  In Biblical days it was called "Day of Jubillee".

 

That's right...at a Sovereign level I fully expect governments to forgive all debts to foreign nations...BUT, completely fuck over their citizens to tune of perpetual debt slavery....  Our kids are fucked....our kids kids have NO CHANCE at this pace. 

Wed, 09/07/2011 - 22:22 | 1644574 vote_libertaria...
vote_libertarian_party's picture

Economic implosion....good for another buy buy buy round tomorrow.

Wed, 09/07/2011 - 22:33 | 1644577 NumNutt
NumNutt's picture

Oh Fuckingshima!!

I am watching the futures markets....doesn't seem to be reacting to this news, only Hong Kong is down:

Hang Sen 40 19833.00 20048.00 20104.00 19827.00 -215.00 -1.07

I guess the markets are getting used to bad news. Kind of like wrecking the car 20 times, then having your daughter tell you she just wrecked it again, no big deal.

Wed, 09/07/2011 - 22:33 | 1644608 Id fight Gandhi
Id fight Gandhi's picture

Futures never react right, never touch em.

Nikkei might no likey afternoon...

Wed, 09/07/2011 - 23:45 | 1644810 Zgangsta
Zgangsta's picture

http://e.nikkei.com/e/fr/marketlive.aspx

The Nikkei is now...uh, blue (what you and I would call red, which is what they would call black)

Wed, 09/07/2011 - 22:27 | 1644586 max2205
max2205's picture

Rock, meet hard place

Wed, 09/07/2011 - 22:31 | 1644598 tekhneek
tekhneek's picture

...More like Japan, meet Belarus

Wed, 09/07/2011 - 22:32 | 1644602 Mister Minsk
Mister Minsk's picture

Yes--Kamikaze Style!

Wed, 09/07/2011 - 22:30 | 1644596 rsnoble
rsnoble's picture

Could it have anything to do with the rumors I hear that Tokyo is glowing green?

Is that true btw?  I really don't know if it is or not.

Wed, 09/07/2011 - 22:55 | 1644641 Threeggg
Threeggg's picture

You should be asking this question: Is California, Washington, Idaho, Alaska and Utah glowing green ? Just for your info, I have been following these developments (like a hawk) from the 11th of March, as well as monitoring "all" available rad monitoring sites on the net. (daily)

Between the EPA, commercial and private radiation monitoring array's in the U.S..

They have all been shut down 100% within the last 4 weeks (period)

ALL OF THEM !

P.S. I don't consider RAD-NET and radiationnetwork trustworthy.

Wed, 09/07/2011 - 22:56 | 1644670 JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=kaUI4Ujzze0

Strangte flash in Fukushima Nuclear plant

and for a little closer to home and my personal Fav!

http://www.youtube.com/watch?v=mlWKptW74CY

 Gulf of Mexico flight

All Credit to George Washington!

Wed, 09/07/2011 - 23:14 | 1644709 JW n FL
JW n FL's picture

http://www.youtube.com/watch?v=y6WjuN6d8Ag

LOOK! a new plant on the east coast has been shut down! YAY!!

 

Wed, 09/07/2011 - 23:00 | 1644677 yabyum
yabyum's picture

Utah will always be "hot"....downwind from all the open air tests...It's SAFE!! so said Washinton. I remember the Nuns taking is to "inside " lunch hour. Me, I was out eating the grey snow!!.

Wed, 09/07/2011 - 23:07 | 1644695 yabyum
yabyum's picture

Utah will always be "hot"....downwind from all the open air tests...It's SAFE!! so said Washinton. I remember the Nuns taking is to "inside " lunch hour. Me, I was out eating the grey snow!!.

Wed, 09/07/2011 - 23:43 | 1644763 Threeggg
Threeggg's picture

Utah will always be "hot"  Yes, background was an average 43 CPM constantly. but next door.......................................?

Check out the comment on July 12, 2011 from Driggs, Idaho as this rad monitor was shut down. Then look at the next message. I was monitoring this site, up until it was taken off the net. There were 300+ CPM spikes starting to occur everyday, until it was shutdown "by someone" ?

http://www.ustream.tv/channel/radiation-detection---driggs-idaho

Same thing with this one in Redlands, California

It was having 250 CPM spikes (air) and 350+ CPM spikes when they were testing rainwater on August 10th. After that day it has never returned, as it was shutdown "by someone" ?

http://www.ustream.tv/channel/geiger-counter-redlands-ca

 

Thu, 09/08/2011 - 00:41 | 1644940 slewie the pi-rat
slewie the pi-rat's picture

mormons have nuns?

(just kidding, y_y~~~couldn't resist!)

Wed, 09/07/2011 - 22:30 | 1644597 kito
kito's picture

Must....purchase....more.....ammo.....

Wed, 09/07/2011 - 22:59 | 1644674 JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=AspEY1OlglU

you would want to be Kali compliant with non-toxic rounds!

http://www.youtube.com/watch?v=TeqA-sHGvy4

once again, please think of the enviroment!

Thu, 09/08/2011 - 05:11 | 1645315 StychoKiller
StychoKiller's picture

Come again?  If youse want non-lethal rounds, why not use marshmallows?

Thu, 09/08/2011 - 00:56 | 1644973 Sgt.Sausage
Sgt.Sausage's picture

I had to move all mine to the basement - in fear that my living room floor would collapse and put it there anyway... and yet I still feel the nagging urge to acquire more. Always more.

 

Wed, 09/07/2011 - 22:33 | 1644605 medicalstudent
medicalstudent's picture

lurk to post ratio really 70:1?

 

wait til the rice harvest...

Wed, 09/07/2011 - 23:02 | 1644682 JW n FL
JW n FL's picture

I told you Godzilla was real.. you and your science bullshit!

Proof is on the way! good luck getting him in the lab!

Wed, 09/07/2011 - 22:34 | 1644607 Mr Lennon Hendrix
Mr Lennon Hendrix's picture
Fukashima

In a few short weeks the world will visually find out what happens when a nuclear plant explodes and no precaution is taken.  Mothers in their first trimester when Fukashima blew are about to give birth to babies exposed to massive amounts of radiation.  The visual of broken DNA sequences will tip the world on the reality that it faces concerning what will be the greatest man made disaster in the history of this planet.

From my iphone... I mean blog....

Wed, 09/07/2011 - 22:55 | 1644665 Bicycle Repairman
Bicycle Repairman's picture

Since these babies will probably bring shame on the parents, this is Japan we are talking about, I wonder if we'll even see the babies.

Wed, 09/07/2011 - 23:19 | 1644723 Ahmeexnal
Ahmeexnal's picture

I believe we might already have.

Pokemon.  Dragonball Z.  Howl's Moving Castle.  the list is endless

Thu, 09/08/2011 - 02:32 | 1645165 Dugald
Dugald's picture

Most unlikely is my guess......face is all..........

Wed, 09/07/2011 - 22:35 | 1644611 DoChenRollingBearing
DoChenRollingBearing's picture

Poor Japan.  We buy some bearings from them, we have settled on one manufacturer who can sell us what we NEED, no necessarily all we WANT.  That will help impose some dicispline on our company.

But the manufacturer tells us they are REALLY SQUEEZED by high input costs (like almost all of their exporters).  So far, we can live wiith their prices, as they have so far as well.

Fewer machinery orders might free up bearing capacity for us, unless some of those machines are for making bearings...

Wed, 09/07/2011 - 23:17 | 1644718 Threeggg
Threeggg's picture

Problem is that 80% of their Nuclear energy Capacity to feed industry is shut down. 42 reactors out of 53 total are shut down and not producing power !

DoChen, have you been watching Fox ?  LOL

Respectfully !

 

Wed, 09/07/2011 - 23:47 | 1644814 DoChenRollingBearing
DoChenRollingBearing's picture

Our supplier reports no direct problems due to Fukushima.  They are in SW Japan and have kept all of their promises to date post-disaster.  The rotating blackouts I heard about (a while back) do not seem to be hurting them.

Fox? Not today!

Thu, 09/08/2011 - 00:37 | 1644929 Crisismode
Crisismode's picture

DCRB,

 

 

WHY are you even manufacturing ANYTHING, anymore???

 

Manufacturing is soooooo old school and passe.

 

Just take your company's $$$ and move them into the financial bizzaro world and just flip ETFs and options and futures and 4x and just BE HAPPY!!

 

Making real stuff is just such a losing game anymore.

 

/sarc

Thu, 09/08/2011 - 00:52 | 1644950 DoChenRollingBearing
DoChenRollingBearing's picture

Our company in Peru imports rolling bearings (already made) for cars and trucks.  We buy mostly from Korea, some from Japan and a little from China.  Why not from the USA?  Because near monopoly Timken does not want our business.  Imagine that, the foreigners treat us better.

In many ways, the bearing manufacturing business is kind of a lousy one.  High capital costs for precision machinery.  Need skilled workers.  And yet, JUST too many of them so that can't form a cartel.

Making real stuff IS hard.  LOTS of competition.  I would NEVER try to make ANYTHING here in the USA.  No way.

"flip ETFs and options and futures and 4x", the Bearing has lost money almost every time he has played those games, so I am out of that...  Been buying gold over the past decades...

Thu, 09/08/2011 - 02:43 | 1645195 Dugald
Dugald's picture

Most bearings roll.......you perhaps mean Roller bearings....as an engineer...just saying...

Wed, 09/07/2011 - 22:35 | 1644612 gwar5
gwar5's picture

But Krugman said the Quakenami would be good for the Japanese economy.

 

Wed, 09/07/2011 - 22:37 | 1644618 tekhneek
tekhneek's picture

Okay. Can we kill the Krugman piece? I laugh every time but I mean c'mon... can we?

Thu, 09/08/2011 - 00:40 | 1644936 Fox Moulder
Fox Moulder's picture

He also said the Keynesicane would fix the US economy.

Wed, 09/07/2011 - 22:36 | 1644615 gwar5
gwar5's picture

But Krugman said the Quakenami would be good for the Japanese economy.

 

Wed, 09/07/2011 - 22:37 | 1644617 Thunder_Downunder
Thunder_Downunder's picture

So japan is on the ropes, Europe is a mess, the US has mould on it... and forward p/e says the equity markets are cheap.

 

I hope Ben brings a big helicopter...

Wed, 09/07/2011 - 22:42 | 1644632 problemfixr
problemfixr's picture

It's 106 miles to Chicago, we've got a full tank of gas, a half a pack of cigarattes, it's dark and we're wearing sunglasses.  Hit it!!!

Thu, 09/08/2011 - 02:45 | 1645200 Dugald
Dugald's picture

 

You rang Master.......!

Wed, 09/07/2011 - 22:39 | 1644622 breezer1
breezer1's picture

don't worry, the prince of peace speaks tommorrow, all will be well.

Wed, 09/07/2011 - 23:18 | 1644634 lolmao500
lolmao500's picture

Seriously, who are those nutjobs thinking that the Japanese yen is a safe currency? I mean come on, Fukushima? No? There's radiation up to freaking Tokyo. I know they'll never have the cojones to evacuate what should be evacuated but come on.

Their level of debt? No?

Their pyramid of population? No?

Come on people!

Thu, 09/08/2011 - 00:02 | 1644851 Ye Ye
Ye Ye's picture

They are way underspending at the public level given the private sector net savings desires.

 

http://e.nikkei.com/e/fr/tnks/Nni20110823D23JF566.htm

 

This leaves their central bank to "defend" (attack?) their currency by "printing", but unlike SNB they insist on sterilization, and thus achieve impotence.

Meanwhile Australia is saying that currency intervention is not warranted.

http://www.abc.net.au/pm/content/2011/s3300342.htm

So it's complicated.  Clearly stoozing AUD is the move, but it's unclear what the base currency should be.  I'm avoiding AUD/USD because if the tea party has their way, there's gonna be a dollar short squeeze that's gonna dwarf the Asian crisis in 97.  AUD/EUR is problematic because EUR down means risk off for the near term.

Thu, 09/08/2011 - 00:29 | 1644911 chump666
chump666's picture

That's actually a good point, maybe a major USD spike in the coming mths leading into a Asian meltdown.  As for the AUD, no a tiny economy like Australia will join the rate cut crew.  Their central bank will cut soon.  HFT's have infiltrated the AUD/cross trade.  There will be a major sell off AUD crossess, starting with the AUD/JPY. 

Wed, 09/07/2011 - 22:42 | 1644637 Bicycle Repairman
Bicycle Repairman's picture

Here's a reason Reuters left out: nobody wants to buy things that have an unnatural glow.

Wed, 09/07/2011 - 22:44 | 1644640 ShoeShineBoy
ShoeShineBoy's picture

 G-10? i pass.. Australia, Canada? wait for those banking & housing bubbles to pop. Norway? effin small to accomodate any meaningful flow, let alones that freaking sterilization through SWF.. BRIC? triple beta.. Geebus, my eyes are shining yelow.

Wed, 09/07/2011 - 23:01 | 1644650 e2thex
e2thex's picture

Wait!!! Let me pass the hat for a collection.

I like societies that take no prisoners of war and hunt large tuna to extinction. I'm confused now, so help me. Do I call up Cognitive Dissonance and book him for a few sessions of forgiveness, or, do I join the Chinese Buddhists who on their internet sites are saying it's Karma?

Wed, 09/07/2011 - 23:06 | 1644694 JW n FL
JW n FL's picture

No.. No..  whale and dolphin hunting are up this year.. we needed a plant down south to blow not up north.

Thu, 09/08/2011 - 05:16 | 1645320 StychoKiller
StychoKiller's picture

Hold still while I massage yer haid wid a bazeball bat...

Wed, 09/07/2011 - 22:51 | 1644659 alien-IQ
alien-IQ's picture

no doubt this is the news the market needs to get the /ES over that 1250 hump. from there on it's blue skies, smooth sailing, bliss and free orgasms for one and all.

all is well. we are saved. happy days are here again.

Thu, 09/08/2011 - 05:17 | 1645321 StychoKiller
StychoKiller's picture

Hmm, do I get to ride the pink unicorn this time?

Wed, 09/07/2011 - 23:00 | 1644675 jekyll island
jekyll island's picture

That's hilarious!  For a moment there I thought you were serious when you said the Yen was the only safe haven currency left.  

Wed, 09/07/2011 - 23:10 | 1644699 Cursive
Cursive's picture

And to think that the Lord has dropped Paul Krugman's Keynesian wet dream (Fukushima) in their collective laps and they couldn't get the economy going with that?  Heaven forbid what other natural disasters Paul Krugman is praying to unleash on the Japanese public.

Thu, 09/08/2011 - 05:19 | 1645322 StychoKiller
Wed, 09/07/2011 - 23:15 | 1644710 Coldfire
Coldfire's picture

According to Krugman, Japan should be on top of the world. I don't understand. /sarc

Wed, 09/07/2011 - 23:23 | 1644731 adr
adr's picture

but, but, Cramer just said that China is heating up again and if it is for real then the US maret spike is for real and who knows the top.

Because China consuming everything in sight is fantastic for the USA..... well at least stocks....at least some stocks maybe.... at least Cramer thinks so.

I think we just cut off corn shipments to China and let them starve. Then we can drop the mutant zombie corporations destroying the USA for profit.

Wed, 09/07/2011 - 23:40 | 1644794 chump666
chump666's picture

As I have said before China is done, they just do slow mo news.  Money on, that country is slowing rapidly.  HSBC cuts 15000 jobs in HK.  Writing is on the wall.  Cramer may be smoking crack, I dunno...

Thu, 09/08/2011 - 08:19 | 1645460 Léonard
Léonard's picture

China has gold, silver and manufactures.

Europe has agriculture, water, gold and still some manufactures.

Russia has oil and gaz.

The three are complementary, have higly skilled populations, armies and are ready to trade together.

Guess who the two big worldwide most hated loosers will stay all alone with the end of the dollar, the banking system and the fiat currency ?

Tip : they both speak english.

 

Wed, 09/07/2011 - 23:37 | 1644789 chump666
chump666's picture

ah Japan's fiscal crisis coming ever closer.  GDP is going be slaughtered.  And that insane SNB is about to send inflation overkill to Asia (a FX war looming).

 

Wed, 09/07/2011 - 23:54 | 1644816 TheJudge2012
TheJudge2012's picture

All the interventions to weaken their currency in order to prop up the dollar is the cause of their plight. A strong currency is great for the economy, great for prices, and brings in investors.

Wed, 09/07/2011 - 23:59 | 1644840 Zgangsta
Zgangsta's picture

Businesses were engaged in much forced energy conservation throughout the summer (15% reduction over the previous year as mandated by law)  They wouldn't be able to run machinery as often as normal, so they wouldn't need to purchase as much machinery.

This number will probably spike in September, when forced conservation measures end.

Thu, 09/08/2011 - 00:20 | 1644876 slewie the pi-rat
slewie the pi-rat's picture

imo, norway has the world's "safest" paper at this point, not japan

like switzerland, norway is a sovereign nation and not a "member" of the EU

Thu, 09/08/2011 - 00:20 | 1644891 mt paul
mt paul's picture

wonder if there are

classes in alchemy

down the community college....

 

more gold 

more hedges [ the zero type ]

 

bytches

Thu, 09/08/2011 - 01:12 | 1645004 Jovil
Jovil's picture

Living through a currency devaluation

I was managing an American subsidiary of a successful large US Company in Mexico. It had been a financial turnaround for our team. Cash flow had accumulated in our bank in Mexico and corporate didn’t want the money repatriated to the US. Although we had already paid a 35% income tax to the Mexican government, we would have to pay an additional 30% exit tax to repatriate the money. In addition, we would have to pay high fees for the peso/dollar exchange, in order to make the transfer. The company wanted to expand our successful business and so we decided to keep the money in Mexican pesos to be used for further expansion.

One morning, as my wife and I were on a trip driving on the highway, we heard a national message from the President of Mexico in 1976, Luis Echevarria, one of the most corrupt presidents in Mexican history. “It is a lie that we are going to devalue the peso,” he said.

Read more

http://lonerangersilver.wordpress.com/2011/08/13/living-through-a-curren...

Thu, 09/08/2011 - 07:52 | 1645427 Hephasteus
Hephasteus's picture

Nintendo just pulled an intel. They claimed they price dropped the nintendo 3ds from like 250 bucks to 180 or something around there. And that they sold 400 thousand of them last month. The hand held console is 3d. It gives people headaches. It sucks, the plans for it got released to the internet. Even though china does the detail work I think the gpu is made on 65nm at a japan plant. Chips require 24 to 72 hours of uninterupted electricity to function and produce a platter of chips or a set of platters depending on how man fab machines are in the plant. Radiation has got to mess with them big time.

The nintendo virtual boy 3d was a flop. People have been trying to shove 3d tv and movies and games down peoples throats since the 1950's and are constantly rebuffed.  Now this is a gadget toy with no more importance than any gadget toy. But it's importance is in getting people to accept 3d. Which it is failing miserably at.

People are filling theaters with 3d projection screens that cost 15 million a pop. Are locked down like a prisoner with digital rights management and which show 2d movies wrong. Because they have to make the 2d alternative worse to make 3d more attractive. They know it and are maliciously doing it trying to change base ticket price from 9 bucks to 12 bucks or 12 bucks to 16 bucks depending on what state for a "3d" movie.

And releases like the nintendo release are following a pattern. A bunch of people show up for them immediately and then it's fucking crickets and tumbleweeds.

And if you believe factory machinery orders are down 8 percent then how do you jive up all the economic activity slumpping with all the qe'ing. Adjusted for inflation 30 40 even 50 percent of all manufacturing just frikking disappeared.

Do NOT follow this link or you will be banned from the site!