like i said losing value. deflation..
Japan's [GOVERNMENT REVITALIZING UNIT]'s working team has finished half of the program to review and cut budget in 400 itmes, and concluded Y450bln can be reduced in the next FY budget so far in its 5 days forum that is open to public via internet and TV (4 days left), that is half of Y900bln said to be left in the government's special account, which is however only 1% of the general account budget draft. MOF is apparently behind the DPJ members and some private people helping to offend bureaucrats in order to cut spending even in some important scientific technology development fields. Now the Hatoyama cabinet's budget is higher above Y90tln, and this kind of show may be a bit useless when tax revenue is falling sharply to sub Y40tln territory.
Fitch has highlighted that the outlook for [JAPAN]'s regional banks has remained weak, eroding their ability to withstand any further asset quality deterioration. Given the weak econ outlook and fragmented nature of the Japanese banking industry, the rating agency added that it did not expect any meaningful improvement in profitability. The comments are not helping sentiment, with Japanese stocks extending their losses into the session. Nikkei 225 is currently down 1.55% at 9527.10, nearer twds the 9500 support lvl whilst broader TOPEX index is off 1.64%, dominated by a steep 2.5% fall in financials.
Japan's [GOVERNMENT REVITALIZING UNIT]'s working team has finished half of the program to review and cut budget in 400 itmes, and concluded Y450bln can be reduced in the next FY budget so far in its 5 days forum that is open to public via internet and TV (4 days left), that is half of Y900bln said to be left in the government's special account, which is however only 1% of the general account budget draft. MOF is apparently behind the DPJ members and some private people helping to offend bureaucrats in order to cut spending even in some important scientific technology development fields. Now the Hatoyama cabinet's budget is higher above Y90tln, and this kind of show may be a bit useless when tax revenue is falling sharply to sub Y40tln territory.
Fitch has highlighted that the outlook for [JAPAN]'s regional banks has remained weak, eroding their ability to withstand any further asset quality deterioration. Given the weak econ outlook and fragmented nature of the Japanese banking industry, the rating agency added that it did not expect any meaningful improvement in profitability. The comments are not helping sentiment, with Japanese stocks extending their losses into the session. Nikkei 225 is currently down 1.55% at 9527.10, nearer twds the 9500 support lvl whilst broader TOPEX index is off 1.64%, dominated by a steep 2.5% fall in financials.
those who can, do. those who cant, talk about those who can
