On Fri, 21 Mar 2008 21:25:48 -0700 (PDT), Too_Many_Tools
wrote:

ATT TMT

Remember the extreme politesse and euphemisms the Japanese use
when making public statements. This is *NOT* a mild message or
observation, but a "get your head out..." directive..

============
US can learn from Japan’s crisis

By Michiyo Nakamoto in Tokyo

Published: March 23 2008 22:05 | Last updated: March 23 2008
22:05

The US should inject public funds into its financial system,
which is undergoing a worse crisis than that experienced by Japan
during its non-performing loan crisis, according to Japan’s
financial services minister.

“It is essential [for the US] to understand that given Japan’s
lesson, public fund injection [into the financial sector] is
unavoidable,” Yoshimi Watanabe told the Financial Times.
snip
Although “it is very difficult for Japan to convey such a message
to a foreign government...Japan could, for example, convey –
through the G7 [meeting of finance ministers] or central bank
governors’ meeting – Japan’s lesson and that we are prepared to
take co-ordinated action if necessary”. to help resolve the
situation, Mr Watanabe said.
snip
The remarks are the first public expression of concern by a
Japanese cabinet minister that the impact of the current
financial market turmoil could be much more serious than Japan’s
experience during its “lost decade” of abnormally slow economic
growth in the 1990s.

== Mr Watanabe warned unless swift and appropriate action was
taken by world leaders, the financial market turmoil could lead
to a severe dollar crisis.== {cold shot to the heart here}
snip
===========
for complete article click on
http://www.ft.com/cms/s/0/18972048-f...077b07658.html


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).