Tuesday, May 19, 2009
Japanese GDP Plummets
I simply don't know what to write about this. The casual nature with which the press is treating this topic is astounding. Japan trails only the USA in terms of GDP: this is a major economy going through a major restructuring.
Real GDP fell at an annualized rate of 15.2% after falling 14.4% in the fourth quarter of 2008. I will be back with comments once I wrap my head around this.