Doctor Recommended
100% All Natural

After today’s gruesome results in Asian stock markets (especially the Japanese Nikkei which is down by more than 7% as I write this) I thought it would be appropriate to post this from a friend:

Following the problems in the financial sector in the US , uncertainty has now hit Japan.

In the last 7 days the Origami Bank has folded, the Sumo Bank has gone belly up and the Bonsai Bank announced plans to cut some of its branches.

Yesterday, it was announced that the Karaoke Bank is up for sale and will likely go for a song, while today’s shares in the Kamikaze Bank were suspended after they nose-dived. While Samurai Bank is soldiering on following sharp cuts, the Ninja Bank is reported to have taken a hit, but they remain in the black. Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at the Sushi Bank where it is feared that staff may get a raw deal.

Via Robin Tovson

See also: Japan by Benjamin Powell
What happened to Japan?

So I was in a service organization back in college and am still on the alumni listserve. One of the alumni apparently works as a financial broker at a boutique firm.

He recently sent out a message saying among other things that he and his family are in the stock market for the long run and that he isn’t going to sell.

Ouch. Even if he invests solely in entities like defense contractors (which just received tens of billions in financing two weeks ago), he is going to be cleaned out. Even five years from now.

I hate to say this, but the pollsters at CNN have a better grasp of reality than the financial planner:

See also: The Bailout Reader
The Recession Reader