Japan Grinding to a Halt????
HONG KONG (MarketWatch) -- Japanese exports fell by a larger-than-expected 35% in December, the biggest fall on record, stoking concerns that firms could accelerate layoffs and idle production as the global recession deepens.
HONG KONG (MarketWatch) -- Nippon Steel Corp. is planning to slash steel output this quarter by the largest in the company's history, the Nikkei newspaper reported Friday, citing company sources. The company will cut output by 40%, or 3 million tons, bringing production for the quarter to 5 million tons, the report said. Total output cuts for the fiscal half year to March 31 will total 4 million tons.
Even for Alstrynomics.....these are incredible numbers!!!!!!!!
For a while I thought that this was going to be the worst in history.......now it seems like the facts are supporting the projections.