The Economist (April 4)
“Japan gets all the bad luck.” On the verge of recovery from Lehman shock, the triple whammy earthquake, tsunami and nuclear crisis has again placed all in doubt. Responses to the Tankan survey illustrate the blow. Pre- and post-quake responses show a marked drop, with optimism turning to pessimism. Rotating power outages and the jishuku sense of restraint are inflicting further damage on the economy. The Economist urges that this is the “time, then, for the government to get out in front of its own people, and tell them to spend.”“Japan gets all the bad luck.” On the verge of recovery from Lehman shock, the triple whammy earthquake, tsunami and nuclear crisis has again placed all in doubt. Responses to the Tankan survey illustrate the blow. Pre- and post-quake responses show a marked drop, with optimism turning to pessimism. Rotating power outages and the jishuku sense of restraint are inflicting further damage on the economy. The Economist urges that this is the “time, then, for the government to get out in front of its own people, and tell them to spend.”
