Consider a few snippets from the above linked article:
Japan’s exports plunged a record 49.4% in February . . . .
Shipments to the U.S., the country’s biggest market, tumbled an unprecedented 58.4% . . . . Automobile exports slid 70.9%.
The collapse signals gross domestic product may shrink this quarter at a similar pace to the annualized 12.1 percent contraction posted in the previous three months
and
A record drop in exports is forcing companies to fire workers, depressing wages and consumption . . . . Prices will probably start falling as soon as next month and their declines will accelerate, analysts said.
“Core prices are already on the verge of slipping into negative territory,” said Seiji Adachi, a senior economist at Deutsche Securities Inc. in Tokyo. “Prices are definitely southbound and the risk of deflation warrants caution.”
Sure, sure, that's Japan, not here. Right. We haven't got any depression here
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In related news, what's up with Deutsche Securities Inc. being in Tokyo?
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